KUALA LUMPUR: Public Bank Bhd contributed RM1.25 million to Universiti Tunku Abdul Rahman to set up the Tan Sri Teh Hong Piow Chair in banking and finance.

Public Bank said on May 14 the contribution would be over five years, at RM250,000 per year, for the appointment of a professor and conduct applied research in banking and finance.

The chair in banking and finance will be established at UTAR's campus in Kampar.

The banking group also contributed RM60,000 to the National Award for Management Accounting 2009, becoming the main sponsor of the award for the sixth straight year.

It also sponsored RM30000 to support the Chartered Institute of Management Accountants World Conference 2009, making it the official partner of the event.

The cheques for the sponsorships are to be presented by Public Bank founder and chairman, Tan Sri Dr Teh Hong Piow.