Malayan Banking Berhad (
doing business as
A trade name, trading name, or business name, is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is a "fictitious" business name. Registering the fictitious name w ...
Maybank) is a
Malaysia
Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...
n
universal bank
A universal bank participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance.Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
, and
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...
. According to the 2020 Brand Finance report, Maybank is Malaysia's most valuable bank brand, the fourth top brand in amongst the
Asean
ASEAN ( , ), officially the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, militar ...
countries, and ranked 70th in the world’s most valuable bank brands.
Background
Maybank is
Malaysia
Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...
's largest bank by market capitalisation and total assets and
one of the largest banks in Southeast Asia, with total assets exceeding US$203 billion and having a net profit of US$1.98 billion for 2019.
Maybank is also ranked 106th in The Banker's 2020 Top 1000 World Banks (as at July 2020) and is ranked 349th in the Forbes Global 2000 Leading Companies (as at May 2020).
Maybank is the largest public listed company on Bursa Malaysia, the Malaysian stock exchange, with a market capitalisation of US$23.7 billion as of 31 December 2019.
Maybank's Islamic banking arm, Maybank Islamic, is the largest Islamic bank in ASEAN and Malaysia in terms of assets, and was named 2020’s Global Islamic Bank of the Year by The Banker.
Maybank's network spans across all 10
ASEAN
ASEAN ( , ), officially the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, militar ...
nations as well as key Asian countries and global financial centres with a network of 2,600 retail banking branches worldwide with more than 43,000 employees.
History
Maybank was founded by
Singaporean
Singaporeans, or the Singaporean people, refers to citizens or people who identify with the sovereign island city-state of Singapore. Singapore is a multi-ethnic, multi-cultural and multi-lingual country. Singaporeans of Chinese, Malay, India ...
business tycoon Tan Sri
Khoo Teck Puat
Tan Sri Khoo Teck Puat (; 13 January 1917 – 21 February 2004) was a banker and hotel owner, who, with an estimated fortune of S$4.3 billion (US$3,195,953,500), was the wealthiest man in Singapore at one point. He owned the Goodwood Gro ...
(who died in 2004) & Oei Tjong Ie. The company was led by President and CEO
Tan Sri Amirsham Abdul Aziz from 1994 until March 2008 after which he was appointed Minister in the Prime Minister's Department in-charge of the Economic Planning Unit, a post he held until April 2009. Tan Sri
Abdul Wahid Omar
Abdul Wahid bin Omar ( Jawi: عبدالواحد بن عمر; born 1964) is the non-executive chairman of Bursa Malaysia since 1 May 2020. He is also the chairman of the board of directors of Universiti Kebangsaan Malaysia (UKM), one of Malaysi ...
was President & CEO of Maybank Group from May 2008 to June 2013. On 1 May 2022, Dato' Khairussaleh Ramli was appointed as President & CEO of Maybank Group.
Timeline
![Maybank first Branch](https://upload.wikimedia.org/wikipedia/commons/9/96/Maybank_first_Branch.jpg)
* 1960 – Maybank is incorporated on 31 May and begins operations in Kuala Lumpur on 12 September. Malayan Finance Corporation (later Maybank Finance) is established, the first wholly bank-owned finance company. Maybank’s first overseas branch opens in
Brunei
Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi alphabet, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely sur ...
on 28 November.
Branches are also opened in Singapore.
* 1962 – Listed on the Kuala Lumpur Stock Exchange. Hong Kong and London branches opened.
* 1973 – Forms own investment banking arm, Aseambankers Malaysia Berhad (Asian & Euro-American Merchant Banking (Malaysia) Berhad)
* 1977 – Mayban-Phoenix Assurance Bhd is incorporated offering underwriting general insurance risks. Mayban-Phoenix Assurance was renamed Mayban Assurance in 1986
* 1984 – New York branch opened
* 1990 – Set up new operations in the Federal Territory of Labuan
* 1992 – Mayban Securities formed.
* 1993 – Maybank Ventures begins operations in February. In September, Aseam Leasing and Credit Bhd are incorporated, offering leasing and hire purchase activities. Opens representative office in Beijing, People’s Republic of China
* 1994 – Entered a joint-venture with PT Bank Nusa Nasional (Indonesia), bringing the Maybank name to the Indonesian market. A branch is opened in Phnom Penh, Cambodia
* 1995 – Maybank (PNG) Ltd. opens in Port Moresby and Lae
* 1996 – Hanoi branch and a representative office in Ho Chi Minh City are officially opened. Maybank Bankassurans launched, offering insurance products to customers at bank branches. Kwong Yik Bank sold to Rashid Hussain Berhad in December
* 1997 – Acquired a 60% stake in PNB-Republic Bank of the Philippines and renamed it Maybank Philippines Inc
* 2000 – First Malaysia bank to open a branch in Shanghai, People’s Republic of China. Acquired Pacific Bank and the Phileo Allied Bank Bhd, and then merged in 2001
* 2001 – Maybank and Fortis International NV collaborate to set up Mayban Fortis Holdings Bhd in a 70:30 partnership. All Maybank’s insurance companies are grouped under Mayban Fortis Holdings Bhd
* 2002 – Mayban Takaful Bhd commences operations, the first Takaful company owned by a conventional bank in Malaysia. First Malaysia bank to operate in Bahrain
* 2005 – Acquired Malaysia National Insurance Bhd (MNI) and its subsidiary, Takaful Nasional Sdn Bhd (Takaful Nasional)
* 2006 – Maybank acquired American Express' card business in Malaysia
* 2007 – Launched
Etiqa
Etiqa is a leading insurer and takaful operator in ASEAN. A member of the Maybank
Malayan Banking Berhad (doing business as Maybank) is a Malaysian universal bank, with key operating "home markets" of Malaysia, Singapore, and Indonesia. Ac ...
, the new brand name for Maybank’s conventional and
takaful
Takaful ( ar, التكافل, sometimes translated as "solidarity" or mutual guarantee) Khan, ''What Is Wrong with Islamic Economics?'', 2013: p.403 is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic ...
businesses under Mayban Fortis Holdings Bhd
* 2008 – Islamic banking subsidiary, Maybank Islamic Berhad, established. Acquires stakes in An Binh Bank (Vietnam),
MCB Bank Ltd of
Pakistan
Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...
and Bank Internasional Indonesia
* 2009 – Renamed Aseambankers to Maybank Investment Bank. Completed a RM6 billion rights issue – the largest in Malaysian corporate history
* 2010 – Introduced a Dividend Reinvestment Plan, the first public listed company in Malaysia to do so
* 2011 – Acquired
Kim Eng Holdings Limited
Kim Eng Holdings Limited is a securities and investment broker in Asia. It was incorporated in 1972 to provide stock broking services in Singapore. The group's network coverage spans 10 countries; servicing institutional, corporate, high-net-wo ...
, making it its subsidiary
* 2012 - First branch in Laos opened, completing the Group’s footprint in all 10 ASEAN nations
* 2015 - Exited Papua New Guinea with the sale of Maybank (PNG) Limited and Mayban Property (PNG) Limited to Kina Ventures Ltd.
Awards and Recognitions
Brand Finance’s Global 500 Brands: Maybank is the only Malaysian bank and one of two brands from Malaysia who qualified to be included in the prestigious Brand Finance’s Global 500 Brands list in January, 2019. Maybank achieved a brand valuation of USD $4.2 billion, a 32% increase from 2018 valuation of USD $3.16 billion.
The Best Malaysian Organization 2018. Maybank was recognized as the 2018 ‘Best Malaysian Organisation’ by Talent Corporation Malaysia Berhad (TalentCorp) through its Life At Work Awards 2018 programme.
The Most Valuable Bank Brand in Malaysia: Maybank has been recognized as the top bank brand in Malaysia for the four consecutive years i.e. 2014-2018 based on the 2018 Brand Finance Banking 500 Brand Value Report issued by global brand valuation and strategy consulting firm, Brand Finance.
See also
*
List of largest Malaysian banks
This is a list of financial institutions in Malaysia.
Central Bank
* Bank Negara Malaysia (The Central Bank of Malaysia)
Top largest banks in Malaysia
List of Malaysian banks by Total Assets as of 31 March 2020
Malaysian national nationwid ...
*
List of largest banks in Southeast Asia
This is a list of the largest Southeast Asian banks, measured by total assets, market capitalisation, sales, and profit.
Largest Southeast Asian banks by total assets
Information from Forbes as of 2022
Largest Southeast Asian banks by marke ...
References
External links
Maybank Group corporate website
{{Online brokerages
Banks of Malaysia
Companies listed on Bursa Malaysia
Government-owned companies of Malaysia
Malaysian brands
Banks established in 1960
Companies based in Kuala Lumpur
Companies based in Bonifacio Global City
1960 establishments in Malaya
Multinational companies headquartered in Malaysia
Online brokerages
Permodalan Nasional Berhad