Maybank Malaysia

 

 

Malayan Banking Berhad or Maybank Malaysia is Malaysia’s largest financial group, having 374 branches and over 2,700 ATMs in the country. In 2008, Maybank was awarded as Malaysia’s Most Valuable Brand.[br] 

Maybank Malaysia: Global Presence

Outside Malaysia, the bank has significant operations in thirteen countries through its 90 international branches and offices. These are Singapore, Indonesia, the Philippines, Brunei Darussalam, Papua New Guinea, Cambodia, Vietnam, Bahrain, Pakistan, Uzbekistan, the People’s Republic of China, the United States of America and the United Kingdom.

 

Maybank Malaysia has a network of subsidiaries, representative offices and associates that represent the bank in all the global financial centres – New York, London, Singapore and Hong Kong. Also, the bank has correspondent relationships with almost 700 foreign banking institutions around the world.

 

Maybank Malaysia: History

Malaysian business magnate Khoo Teck Puat founded the bank with some partners in the capital city of Kuala Lumpur on May 31, 1960. Within three years, the bank had grown rapidly to over 150 branches. In 1965, the founder was ousted from the bank by the Malaysian government under the pretext of investing the bank’s money in his private company in Singapore. In 1973, Maybank Malaysia formed Aseam (Asian & Euro-American Merchant) bankers Malaysia Berhad as its investment banking subsidiary.

 

During the early 1990s, Maybank Malaysia entered the insurance market, with its general and life insurance plans. In the later part of this decade, Maybank Malaysia expanded out of its domestic market to establish itself in Indonesia and the Philippines. This expansion – geographical and in product line – has continued since then.[br] 

Maybank Malaysia: Operations

Primarily, Maybank Malaysia offers consumer, business, private and corporate banking services. Apart from that, one of its major interests lay in Islamic banking and insurance through its subsidiaries, such as Etiqa Insurance & Takaful. Additionally, the group has Maybank Investment Bank as the division of commercial banking operations.

Other services offered by Maybank Malaysia include:

·        offshore banking

·        asset management

·        online banking

·        stock broking

·        trustee services

·        nominee services

·        venture capital

·        leasing

·        factoring

With a market capitalization of more than RM30 billion (April 2009), it is the second largest organization listed on the Bursa Malaysia (the Kuala Lumpur Stock Exchange) since February 17, 1962.