Maybank

Malayan Banking Berhad (doing business as Maybank) is a Malaysian universal bank, with key operating "home markets" of Malaysia, Singapore, and Indonesia. According to the 2020 Brand Finance report, Maybank is Malaysia's most valuable bank brand, the fourth top brand in Asean and ranked 72nd in the world’s most valuable bank brands. [2]

Malayan Banking Berhad
Publicly traded government-linked company
Traded asMYX: 1155
ISINMYL1155OO000
IndustryFinancial Services
Founded31 May 1960
FounderKhoo Teck Puat
Headquarters
Menara Maybank
Kuala Lumpur, Malaysia
Area served
Southeast Asia
, Hong Kong, Greater China, Saudi Arabia, UK, US, Pakistan, India, Uzbekistan, and UAE
Key people
Abdul Farid Alias, Group President and CEO
Mohaiyani Shamsudin, Chairman
Revenue RM52.85 billion
(US$12.76 billion) (2019)[1]
RM10.86 billion
(US$2.62 billion) (2019)
RM8.20 billion
(US$1.98 billion) (2019)[1]
Total assets RM834.41 billion
(US$203.81 billion) (2019)[1]
Number of employees
Over 43,000
SubsidiariesSee Maybank subsidiaries
Websitewww.maybank.com

Background

Maybank is Malaysia'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[3].

Maybank's network spans across all 10 ASEAN nations as well as key Asian countries and global financial centres with a network of 2,600 offices worldwide with more than 43,000 employees.

History

Maybank was founded by Singaporean business tycoon Khoo Teck Puat (who died in 2004) & Oei Tjong Ie, son of Chinese-Indonesian Conglomerate Oei Tiong Ham. The company was led by President and CEO Amirsham Abdul Aziz from 2002 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 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
First Maybank Branch. Since 1960 at Jalan Tun H.S. Lee, Kuala Lumpur
  • 1960 – The bank was formed and founded by Malaysian business tycoon Khoo Teck Puat with a few partners in Kuala Lumpur. The bank grew rapidly to more than 150 branches within 3 years. In 1963, the bank purchased Goodwood Park Hotel, Singapore for $4.8 million. It was known as "Malayan Banking Ltd."
  • 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)
  • 1975 – Aseambankers establishment of a joint venture, Kota Discount Berhad, in partnership with a group of Kuala Lumpur-based investors
  • 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.
  • 1986 – Acquired a majority stake in Kota's which renamed to Mayban Discount Berhad in 1989
  • 1987 – Mayban Securities Sdn Bhd set up to provide stockbroking and other investment services
  • 1990 – The new Malaysian Offshore Banking Act passed and the bank set up new operations in the Federal Territory of Labuan
  • 1990 – Mayban Unit Trust Berhad has been added, a subsidiary focused on the management of unit trust funds
  • 1992 – Maybank launched Maybank General Assurance Bhd
  • 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.
  • 1993 – Acquisition of Safety Life & General insurance Sdn Bhd then relaunched as Mayban Life Assurance
  • 1994 – Set up a subsidiary in Papua New Guinea, which opened 2 branch offices in Port Moresby and Lae
  • 1995 – 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
  • 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 Phillipines and renamed it Maybank Philippines Inc
  • 1997 – Acquired through Philmay Holding Iand establishment of the real estate and property development vehicle Philmay Property
  • 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[4]
  • 2007 – Launched Etiqa, the new brand name for Maybank’s conventional and takaful 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 and Bank Internasional Indonesia.
  • 2009 – Renamed its subsidiary Aseambankers to Maybank Investment Bank. Completed a RM6 billion rights issue – the largest in Malaysian corporate history
  • 2009 – Raised RM6 billion in equity capital through a 9-for-20 rights issue at RM2.74.
  • 2010 – Introduced a Dividend Reinvestment Plan, the first Malaysian company to do so.
  • 2011 – Acquired 100.0% of Kim Eng Holdings Limited. The acquisition was completed in August 2011 through a general offer for the remaining shares after completing the purchase of 44.6% in May 2011 and 5.6% stake in January 2011.·        
  • 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.

Maybank has an international network of over 2,400 branches and offices in 20 countries, employing 45,000 employees.[5]

Maybank Tower, Singapore
The Maybank Corporate Centre in Metro Manila, Philippines

In Malaysia, Maybank operates consumer, business and corporate banking as well as private banking services, through a network of 354 retail branches and more than 1,900 automated teller machines around the country. The company operates 18 branches in Singapore providing a full range of banking and financial products and services. It operates in Indonesia through PT Bank Maybank Indonesia Tbk (or known as Maybank Indonesia) with a network of 373 branches and 1,571 ATMs. Maybank, through Maybank Philippines Incorporated, has 73 branches in the Philippines. [U1] Maybank also has a banking presence in all of the other Southeast Asian markets. It also operates branches major global financial centres like New York, London, Hong Kong and Dubai.

Commercial Banking

Malaysia
  • Malayan Banking Berhad

Singapore

Philippines
  • Maybank Philippines, Incorporated

Indonesia
  • PT Bank Maybank Indonesia Tbk (previously known as Bank Internasional Indonesia which has changed its corporate name and logo since 2 November 2015)

Vietnam

Pakistan
  • MCB Bank Limited

Cambodia
  • Maybank (Cambodia) Plc

Investment Banking

Malaysia
  • Maybank Investment Bank Berhad

Singapore
  • Maybank Kim Eng Securities Pte. Ltd.

India
  • Kim Eng Securities India Private Limited

Insurance

Malaysia
  • Etiqa Insurance Bhd (previously known as MNI Insurance)
  • Etiqa Takaful Bhd (previously known as Takaful Nasional)
  • Etiqa Offshore Insurance (Labuan) Ltd (previously known as Mayban Life International (Labuan) Ltd)

Main competitors

Maybankard

Maybankard ATM and debit card

Maybank issued the ATM and debit card for accessing the balance of the savings account.

Maybank issued the first ATM and debit card with the name "Maybank Kawanku" on 1985, with the function as an ATM card.

Later on the Maybank 30th years celebration event on 31 May 1990, Maybank Kawanku card was upgraded from ATM card application to the debit card application (cashing card and discount card).

In September 1995, the name of the ATM and debit card of Maybank was changed from "Maybank Kawanku" to "Maybankard Bankcard" with the Maestro and Cirrus logo, a division of MasterCard.

Maybankard launched the MasterCard debit card, same as the Maybankard Bankcard.

Maybankard credit card

Maybankard credit card was launched in October 1997 with blue and gold color.

Awards and Recognitions

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 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.[7]

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.[8]

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.[9]

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See also

References
  1. http://www.maybank.com/
  2. https://brandfinance.com/images/upload/brand_finance_banking_500_2020_preview_1.pdf
  3. "Islamic Bank of the Year Awards 2015 -". www.thebanker.com. Retrieved 18 August 2020.
  4. "Maybank buys Amex charge card business". 2 August 2006. Retrieved 19 August 2012.
  5. "MbMsia description". Retrieved 4 July 2015.
  6. "Maybank Singapore"
  7. "Brand Finance Global 500 2019". BrandFinance.
  8. "Maybank recognised as the Best Malaysian organisation by TalentCorp". TheSunDaily.
  9. "Maybank Malaysia's most valuable bank brand". FreeMalaysiaToday.

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