With the signing of a Memorandum of Collaboration (MoC) on August 9, 2023, Public Bank Berhad formally joined forces with Proton New Energy Technology Sdn Bhd (Pro-Net) to offer financing options for wholesome financial products and services and to start the digitalisation process by integrating with smart Malaysia and its authorised dealers.

Through this partnership, Public Bank will be able to connect with and assist digitalisation through online hire purchase, end-financing application submission, floor stocking through smart client apps, and their authorised dealers, increasing market shares in the EV vehicle sector.

The Bank had mobilized over RM30 billion in domestic NEV financing by the end of 2022, representing approximately 52% of the Bank’s total domestic Hire Purchase financing portfolio. To signify the Bank’s commitment, the NEV lending target had now been increased to RM33 billion by 2025.