I recently opened a bank account at Public Bank. When I was at the branch, it was noisy, chaotic and felt like a visit to a government department. I had to fill up an account opening form that was badly photocopied, waited in line for close to an hour before finally getting my bank account opened. I was issued a savings account passbook — the type where you have to slot into an ATM to update its balance.
Yes, it is 2017 but that’s how an average person still opens an account at Public Bank. It may be very old school and given that Public Bank Berhad (Bursa: 1295) is the third largest bank in Malaysia by asset size, one would assume there are easier ways to open a bank account electronically.
However, I know one group of people who are not complaining: Public Bank’s long-term shareholders. Public Bank has ...
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