PUBLIC BANK OFFERS CHINESE YUAN FOREIGN CURRENCY ACCOUNTS

KUALA LUMPUR, Jan 15 (Bernama) -- Public Bank is offering Chinese Yuan Fixed
Deposits (CNY FD) and Chinese Yuan Current Accounts (CNY CA) following a
business arrangement with the Bank of China (Malaysia) Bhd.

Public Bank is a bank based in Malaysia and the biggest domestic bank based
on shareholders' fund.

The service is to provide more currency options for customers of Public
Bank's foreign currency deposit accounts services, the bank said in a statement
here Friday.

Interest on the CNY FD currently ranges from 0.70 per cent to 0.80 per cent
per annum depending on the tenure and 0.40 per cent per annum for the CNY CA,
Public Bank said.

For the placement of CNY FD, the initial minimum deposit amount is RM10,000
equivalent in Chinese Yuan for tenures of one, three, six and 12 months.For the
CNY CA, the initial minimum deposit amount is US$1,000 equivalent in Chinese
Yuan.

The CNY FD and CNY CA are offered to individuals aged 18 years and over.

All eligible Malaysian and non-resident individuals are allowed to open a
CNY FD and/or CNY CA at any of Public Bank's branches nationwide.

With China's move to liberalise the use of the Chinese Yuan in the
international market, Public Bank said it anticipates good response from the
public for these new products.

In conjunction with the launch of the CNY FD and CNY CA, Public Bank will
run a promotional campaign until March 31, to create awareness and publicity for
the new products.

During this promotional campaign period, customers are offered additional
interest rates of up to two per cent per annum and preferential foreign exchange
rates for those eligible.

-- BERNAMA



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