Malayan Banking Berhad (doing business asMaybank) is a Malaysianuniversal bank, with key operating "home markets" of Malaysia, Singapore, and Indonesia.[3] 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.[4]
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 a net profit of US$1.98 billion for 2019.[5]
Maybank is also ranked 106th in The Banker's 2020 Top 1000 World Banks (as of July 2020) and 349th in the Forbes Global 2000 Leading Companies (as of 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.[6]
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 retail banking branches worldwide and more than 43,000 employees.
History
Maybank was founded by Singaporean business tycoon Tan Sri Khoo Teck Puat (who died in 2004) and Oei Tjong Ie.[7] 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 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.[8]
Timeline
"First Maybank Branch. Since 1960" at Jalan Tun H.S. Lee, Kuala Lumpur
1960 – Maybank is incorporated on 31 May and begins operations in Kuala Lumpur on 12 September. Malayan Finance Corporation (later Mayban Finance) is established, the first wholly bank-owned finance company. Maybank’s first overseas branch opens in Brunei on 28 November.[9] 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[10]
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 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
From 2014 to 2018, Maybank was recognized as the most valuable bank brand in Malaysia for four consecutive years, according to the Brand Finance Banking 500 Brand Value Report 2018, published by the brand valuation consultancy Brand Finance.[11]
Maybank was named the 'Best Malaysian Organisation' at the Life At Work Awards 2018, an initiative by Talent Corporation Malaysia Berhad (TalentCorp).[12]
In January 2019, Maybank was included in Brand Finance’s Global 500 Brands list, making it the only Malaysian bank and one of only two Malaysian brands to be featured that year. The bank achieved a brand valuation of US$4.2 billion, representing a 32% increase from its 2018 valuation of US$3.16 billion.[13]
↑ "MENTERI RASMIKAN PEMBUKAAN BANK"(PDF). Pelita Brunei (in Malay). No.5 #23. Pejabat Penerangan Kerajaan Brunei. 7 December 1960. p.5. Retrieved 14 October 2021.
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RM51.03 billion
