List of banks in Malaysia

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This section is an excerpt from Economy of Malaysia § Finance and banking.[ edit ]
Headquarters of Maybank, Malaysia's largest bank Maybank Tower Kuala Lumpur.jpg
Headquarters of Maybank, Malaysia's largest bank

Kuala Lumpur has a large financial sector, and is ranked the 22nd in the world in the Global Financial Centres Index. [1] There are currently 27 commercial banks (8 domestic and 19 foreign), 16 Islamic banks (10 domestic and 6 foreign), 15 investment banks (all domestic) and 2 other financial institutions (both domestic) operating in Malaysia.

Contents

Commercial banks are the largest and most significant providers of funds in the banking system. The biggest banks in Malaysia's finance sector are Maybank, CIMB, Public Bank Berhad, RHB Bank and AmBank.

Malaysia is currently also the world's largest centre of Islamic Finance. Malaysia has 16 fully-fledged Islamic banks including five foreign ones, with total Islamic bank assets of US$168.4 billion, which accounts for 25% of the Malaysia's total banking assets. [2] This in turn accounts for over 10% of the world's total Islamic banking assets. In comparison, Malaysia's main rival UAE, has US$95 billion of assets. [3]

Malaysia is the global leader in terms of the sukuk (Islamic bond) market, issuing RM62 billion (US$17.74 billion) [4] worth of sukuk in 2014 - over 66.7% [5] of the global total of US$26.6 billion [2] [6] Malaysia also accounts for around two-thirds of the global outstanding sukuk market, controlling $178 billion of $290 billion, the global total. [7]

The Malaysian government is planning to transform the country's capital Kuala Lumpur into a major financial centre in a bid to raise its profile and spark greater international trade and investment through the construction of the Tun Razak Exchange (TRX). The government believes the project will allow Malaysia to compete with regional financial superpowers such as Singapore and Hong Kong, by leveraging on the country's established strength in the rapidly growing Islamic financial marketplace. [2]

Based in Kuala Lumpur, Bursa Malaysia serves as the country's sole national stock exchange. Trading of shares started in 1960 and it is today one of the largest bourses in Southeast Asia. [8] [9]

Central Bank

Top largest banks in Malaysia

List of Malaysian banks by total assets as of 31 December 2023
RankingBankTotals in billions of Malaysian ringgit
AssetsEquity
1 Maybank 947.886.0
2 CIMB 733.673.72
3 Public Bank 493.350.2
4 RHB 310.828.7
5 Hong Leong Bank 265.232.1
6 AmBank 185.217.6
7 UOB Malaysia 140.412.6
8 Bank Rakyat 117.322.6
9 OCBC Malaysia 99.59.3
10 HSBC Malaysia 94.611.2
11 Bank Islam 90.96.8
12 Affin Bank 90.110.6
13 Alliance Bank 65.16.6
14 Standard Chartered Malaysia 57.95.5
15 MBSB Bank 66.77.4
16 Citibank Malaysia 42.94.3
17 BSN 49.84.0
18 Bank Muamalat 31.52.9
19 Agrobank 18.83.2
20 Al Rajhi Bank Malaysia 12.20.9
21 Co-op Bank Pertama 6.11.0

Malaysian national nationwide banks

Commercial banks

List of foreign banks (commercial)

List of Licensed Banking Institutions in Malaysia (commercial) in alphabetical order

List of Digital banks in Malaysia

Conventional Digital Bank

Islamic Digital Bank

List of banks with marketing and representative offices in Malaysia

List of offshore banks and branches in Labuan (licensed and regulated by Labuan Financial Services Authority)

  • Aminternational (Labuan) Ltd (Labuan Branch)
  • AmMerchant Bank Berhad
  • Asian Trade Investment Offshore Bank (Labuan)
  • Bank Islam Malaysia Berhad, (Labuan Offshore Branch)
  • Bank Muamalat Malaysia Berhad, (Labuan Offshore Branch)
  • Bank of America National Association Berhad, (Labuan Branch)
  • The Bank of East Asia Ltd (BEA) (Labuan Branch)
  • The Bank of Nova Scotia (Labuan Branch)
  • The Bank of Tokyo-Mitsubishi UFJ Limited (Labuan Branch)
  • Barclays Bank PLC (Labuan Branch)
  • BNP Paribas (Labuan Branch)
  • Calyon (Labuan Branch)
  • Capital Investment Bank Limited (Labuan)
  • Cathay United Bank (Labuan)
  • Consolidated Credit(S)Berhad
  • CIMB Bank (L) Limited
  • Citibank Malaysia (L) Limited (Labuan)
  • City Credit Investment Bank Limited (Labuan)
  • Commercial IBT (Labuan Branch)
  • Credit Suisse (Labuan Branch)
  • DBS Bank Limited (Labuan Branch)
  • Deutsche Bank AG (Labuan Branch)
  • Dresdner Bank AG (Labuan Branch)
  • ECM Libra Investment Bank Limited (Labuan)
  • European Credit Investment Bank Ltd (ECIB)
  • First East Export Bank (P.L.C) (FEEBANK)
  • The Hong Kong and Shanghai Banking Corporation Limited Offshore Banking Unit (Labuan)
  • Industrial and Commercial Bank of China (Labuan Branch)
  • ING Bank NV (Labuan Branch)
  • The Mega International Commercial Bank (Labuan Branch)
  • J.P. Morgan Malaysia Ltd (Labuan)
  • J.P. Morgan Chase Bank National Association (Labuan Branch)
  • KBC Bank NV (Labuan Branch)
  • Kuwait Finance House Labuan Berhad (Labuan Branch)
  • Lloyds TSB Bank PLC (Labuan Branch)
  • Middle East Investment Bank LTD
  • Mizuho Bank Ltd (Labuan Branch)
  • Macquarie Bank Limited (Labuan Branch)
  • Morgan Stanley Labuan Investment Bank Limited (Labuan Branch)
  • Natexis Banques Populaires (Labuan Branch)
  • OSK Investment Bank (Labuan) Limited (Labuan)
  • OCBC Bank Limited (Labuan Branch)
  • Public Bank (L) Limited (Labuan)
  • Rabobank Nederland (Labuan Branch)
  • RHB Bank (L) Ltd (Labuan)
  • RM Investment Bank
  • The Royal Bank of Scotland PLC (Labuan Branch)
  • RUSD Investment Bank Inc (Labuan)
  • Schroders Malaysia (L) Berhad (Labuan)
  • Société Générale (Labuan Branch)
  • Sumitomo Mitsui Banking Corporation (Labuan Branch)
  • UBS AG (Labuan Branch)
  • United Overseas Bank Limited (Labuan Branch)

Investment banking arm (wholesale banking)

Investment banks (full list)

Merchant bank

There is none as all previous ones have been converted or merged into investment banks.

Other types of banks

18 Islamic banks (local and foreign) (full list)

Development financial institutions (government-owned banks) (full list)

Discount house

There is none as all previous ones has been transformed into investment bank

Moneybrokers (full list)

Other financial institutions (full list)

List of credit cards, charge cards, debit cards and prepaid cards issuers

Credit cards issuers

(i) denotes Islamic Only facilities.

Charge cards issuers

Bank IssuerCharge Card Endorser
Diners Club (Malaysia) Sdn Bhd*Diners Club*
Maybank BerhadAmerican Express

* Left the Malaysian market [11]

Malaysia debit card issuers

Bank IssuerMEPS ATMMain brandCo-brand
Al-Rajhi Islamic BankMEPS Visa Electron Musafir-Hajj (SAR)
Affin BankMEPSMastercardMyDebit
Affin IslamicMEPSMastercardMyDebit
Alliance BankMEPSMastercardMaestro, MyDebit
AmBankMEPSMastercardMyDebit
Bank IslamMEPSVisa ElectronMyDebit
Bank of China (Malaysia)-Mastercard, Unionpay
Bank Muamalat Malaysia BhdMEPSMastercardMyDebit
Bank RakyatMEPSMastercardMyDebit
Bank Simpanan NasionalMEPSVisa ElectronMyDebit
CIMB BankMEPSMastercardMyDebit
Citibank(Sold to UOB Group Malaysia)MEPSMastercardMyDebit
Hong Leong BankMEPSMastercardMyDebit
HSBC BankMEPSVisaMyDebit
ICBC MalaysiaMEPSUnionPay
Kuwait Finance HouseMEPSVisa Electron-
MaybankMEPSVisa, MastercardMyDebit
MBSB BankMEPSVisaMyDebit
OCBC BankMEPSMastercardMyDebit
Public BankMEPSVisa, Unionpay, MastercardMyDebit
RHB BankMEPSVisa, MastercardMyDebit
Standard Chartered BankMEPSMastercardMyDebit
United Overseas BankMEPSMastercardMyDebit

So far Al-Rajhi Visa card BIN allows online purchases for flights and US purchases. Restricted for non-Halal uses such as Casino, Pub etc. Can be used at Genting Resorts.
E-MasterCard is the electronic Mastercard (non-embossed). It may be personalised.
NETS is the Network for Electronic Transfer System in Singapore for EFTPOS. ATM roaming use only.
All banks are BERHAD (Public Limited Company) except Bank Rakyat and BSN which are Coop and government entities respectively. Most mainline banks are now members of MEPS ATM. Withdrawal charges normally are about RM1 for major banks except where stated (as much as RM5 each time). All Visa card are non-embossed type except for Citibank Ready Credit accounts. Bank Rakyat, Muamalat, OCBC Bank do not co-brand their cards except for ATM use only. Maybank has the largest capitalisation in Malaysia in June 2018.

Central Bank of Malaysia expects all debit cards issued in Malaysia to be co-branded with the local network 'MyDebit' latest by the year 2017. [12]

Prepaid card issuers

Bank issuerPrepaid card endorserCost for starter packCost to maintain
Merchantrade AsiaVisaRM100RM10 per annum.
AEON Credit ServiceMastercardRM25Free
Alliance BankMastercard (DIGI Simple MasterCard)Nil (for DiGi subscriber)Nil*
AmBank BerhadMastercard (NextG)RM25RM3 per month*
Bank of China (Malaysia)UnionPayRM25(For Chinese Yuan Card), usable overseas and charged in Chinese Yuan for every purchase. MYR Prepaid card is available again through the bank.
Bank Islam BerhadMastercardRM50Free but up to 3 years*
CIMB Bank MalaysiaMastercardRM10RM10 per annum (Launched in conjunction with Lazada)
MaybankAmerican ExpressRM15RM6 per annum. Shell easiGo.
MaybankVisaRM20RM6 per annum. Manchester United Card
RHB Bank BerhadVisaRM24RM24 per annum.
RHB Bank BerhadVisaRM24RM24 per annum. In partnership with Sogo Malaysia.
BigPay MalaysiaMastercardRM10 (Waived if performed an initial reload of RM20)Waived unconditionally

* No longer available

Affiliates

Other private financial institutions

Licensed Money Lenders

Defunct, merged, acquired or renamed banks

(more to come)

80 Licensed Fund Managers (+ Futures Fund Managers) ('full list)

16 Licensed Futures Brokers (full list)

37 Licensed Dealers (full list)

96 Licensed Investment Advisers (+ Financial Planner) (full list)

85 Corporate

16 Individual

49 Registered Ventures Capital Corporations (full list)

42 Registered Ventures Capital Management Corporations (full list)

(more to come)

Investment-Link funds (Insurance companies - Takaful included)

8 Life and General Businesses(full list)

8 Life Businesses(full list)

26 General Businesses(full list)

1 Life and General Reinsurance Businesses (full list)

1 Life Reinsurance Businesses (full list)

4 General Reinsurance Business (full list)

12 Takaful Operators (full list)

Defunct Insurance companies

(More to come)

See also

Related Research Articles

<span class="mw-page-title-main">Maybank</span> Malaysian bank

Malayan Banking Berhad 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 amongst the ASEAN countries and ranked 70th among the world’s most valuable bank brands.

<span class="mw-page-title-main">Public Bank Berhad</span> Bank based in Kuala Lumpur, Malaysia

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<span class="mw-page-title-main">Hong Leong Bank</span> Malaysian Banking Company

Hong Leong Bank Berhad is a major public listed banking group in Malaysia.

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<span class="mw-page-title-main">Malaysian Electronic Payment System</span>

The Malaysian Electronic Payment System (MEPS) is an interbank network service provider in Malaysia. In August 2017, MEPS merged with Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) to form Payments Network Malaysia Sdn Bhd (PayNet).

<span class="mw-page-title-main">RHB Bank</span> Malaysian bank

RHB Bank Berhad is a Malaysian bank based in Kuala Lumpur and founded in 1997. It is the fourth largest fully integrated financial services group in Malaysia.

<span class="mw-page-title-main">Tabung Haji</span> Hajj fund board in Malaysia

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<span class="mw-page-title-main">Cahya Mata Sarawak</span> Malaysian conglomerate

Cahya Mata Sarawak Berhad (CMSB) (MYX: 2852) is a corporation listed on the Main Market of the Malaysian stock exchange, Bursa Malaysia. It is an investment holding company involved in Sarawak in manufacturing of cement and other construction materials, road construction and maintenance, laying of undersea pipelines, dam construction, smelting, property development, financial services, and education.

<span class="mw-page-title-main">AmBank</span> Malaysia-based bank

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<span class="mw-page-title-main">Great Eastern Life</span> Singaporean insurance company

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<span class="mw-page-title-main">CIMB</span> Malaysian Universal Bank

CIMB Group Holdings Berhad is a Malaysian universal bank headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank. CIMB has a wide retail branch network with 1,080 branches across the region.

<span class="mw-page-title-main">IJM Corporation</span>

IJM Corporation Berhad is one of Malaysia's leading conglomerates and is listed on the Main Market of Bursa Malaysia Securities Berhad. Its core business activities encompass construction, property development, manufacturing and quarrying and Infrastructure concessions. Headquartered in Selangor, Malaysia, IJM's regional aspirations have seen it establish a growing presence in neighbouring developing markets with operations presently spanning 10 countries, with primary focus in Malaysia, Singapore, Australia, United Arab Emirates, China, Indonesia and India.

<span class="mw-page-title-main">Tengku Zafrul Aziz</span> Malaysian politician and investor

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<span class="mw-page-title-main">Citibank (Malaysia)</span> Bank in Malaysia

Citibank Berhad is a licensed commercial bank operating in Malaysia with its headquarters in Jalan Ampang, Kuala Lumpur. Citibank Berhad operates as a subsidiary of Citigroup Holding (Singapore) Private Limited, commencing its banking operations in Malaysia since 1959. Citibank Berhad was locally incorporated in 1994. Citibank Berhad has 11 branches spread across Kuala Lumpur, Selangor, Penang, Kuantan, Malacca and Johor, offering a wide range of banking and financial services including retail banking, institutional banking, and investment products and services.

<span class="mw-page-title-main">Tun Razak Exchange</span> Central business district in Malaysia

The Tun Razak Exchange, otherwise known as TRX, is a 70-acre development by Ministry of Finance Malaysia (MOF) in the heart of Kuala Lumpur for international finance and business. The development was named after the second Prime Minister of Malaysia, Tun Abdul Razak Hussein, due to its location along Jalan Tun Razak. TRX was planned during the era of the sixth Prime Minister, Datuk Seri Najib Tun Abdul Razak and it is a strategic enabler of the Malaysian government's Economic Transformation Programme (ETP).

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<span class="mw-page-title-main">Affin Hwang Capital</span>

Affin Hwang Capital is the brand name of Affin Hwang Investment Bank Berhad, a specialist Malaysian-based investment banking group, formed in September 2014.

<span class="mw-page-title-main">Etiqa</span> Malaysian life insurance company

Etiqa is an insurer and takaful operator in ASEAN. It is a member of the Maybank Group, offering life and general insurance policies, as well as, family and general takaful plans. It has over 10,000 agents, 46 branches, 17 offices, and a bancassurance network consisting of over 490 branches, cooperatives, brokers, and online platforms across Malaysia, Singapore, Indonesia, the Philippines, and Cambodia. Etiqa is a digital insurance/takaful player in Malaysia with over 55% of market share in online premiums/contributions as of 2020. It is also a bank assurance player in Malaysia, in Digital Life Insurance in Singapore, and a Group Medical insurer in the Philippines.

<span class="mw-page-title-main">Amanah Raya Berhad</span> Malaysian trustee company

Amanah Raya Berhad is a Malaysian trustee company, wholly owned by the Government of Malaysia.

References

  1. ↑ "GFCI" (PDF). Archived from the original (PDF) on 4 September 2015. Retrieved 5 April 2015.
  2. 1 2 3 "Theconversation". 11 November 2013. Archived from the original on 10 April 2015. Retrieved 5 April 2015.
  3. ↑ "Theconversation". 18 September 2014. Archived from the original on 10 April 2015. Retrieved 5 April 2015.
  4. ↑ "Institutional Investor". Archived from the original on 17 April 2015. Retrieved 11 April 2015.
  5. ↑ "The Star". Archived from the original on 11 April 2015. Retrieved 11 April 2015.
  6. ↑ "HomilyChart". Archived from the original on 16 October 2015. Retrieved 12 April 2015.
  7. ↑ "Moody's". 5 June 2014. Archived from the original on 14 April 2015. Retrieved 11 April 2015.
  8. ↑ "Overview". www.bursamalaysia.com. Archived from the original on 13 August 2023. Retrieved 2022-03-30.
  9. ↑ "Bursa Malaysia history". Archived from the original on 19 April 2007.
  10. ↑ http://www.thestar.com.my/business/business-news/2016/11/02/ccb-gets-banking-licence/ Bank gets licensed in Malaysia
  11. ↑ "Announcement from "Diners Club International"".
  12. ↑ http://www.bnm.gov.my/documents/conference_vol/2014_PaymentSystem/The%20Future%20of%20Debit%20Card%20in%20Malaysia%20by%20Tay%20Gim%20Soon%20(on%20behalf%20of%20Peter%20Schiesser).pdf page 18
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