KUALA LUMPUR: Public Bank Bhd has increased its energy-efficient vehicle (EEV) lending target from RM25bil to RM33bil by 2025, according to managing director and chief executive officer Tan Sri Tay Ah Lek.
“As part of our ongoing commitment to supporting the growth of the EEV industry, Public Bank has increased its EEV lending target from RM25bil to RM33bil by 2025,” he said in a statement.
Public Bank has signed a memorandum of collaboration (MoC) with Perodua Sales Sdn Bhd to provide financing facilities to Perodua authorised dealers to extend its financial products and services.
The bank said the collaboration with Perodua would enable Public Bank to interface and facilitate digitalisation via online submission of hire purchase end-financing applications to the bank including uploading of basic application documents and tracking of application status.
“Perodua is also Malaysia’s first and biggest EEV manufacturer. On our part, supporting the growth of the EEV industry is a key pillar of the bank's climate agenda, where Public Bank mobilised over RM30bil in domestic EEV financing by the end of 2022,” Tay said.
“Thus, there is strong synergistic potential where Public Bank and Perodua can continue to work together, in not only growing our respective business, but also contributing positively toward ESG initiatives for the betterment of our society and the world.”
Meanwhile, Perodua president and chief executive officer Datuk Seri Zainal Abidin Ahmad said this three-pronged deal addresses the need for the current and future Perodua activities.
“I hope this collaboration will further elevate our respective organisations to greater heights,” he said.