BackgroundMaybank is '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 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.
HistoryMaybank was founded by business tycoon Tan Sri (who died in 2004). 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 was President & CEO of Maybank Group from May 2008 to June 2013. On 2 August 2013, Datuk Abdul Farid Alias, Maybank's Deputy President and Head of Global Banking, was appointed as President & CEO of Maybank Group.
Timeline* 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 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 Min 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 , the new brand name for Maybank’s conventional and 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 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 , 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 RecognitionsBrand 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 *