Maybank
Encyclopedia
Maybank a trade name for Malayan Banking Berhad is the largest bank
and financial group
in Malaysia, with significant banking operations in Singapore
, Indonesia
and the Philippines
. The bank also has large interests in Islamic banking
through Maybank Islamic Berhad and insurance
via its Etiqa subsidiary. Maybank is the largest bank in Malaysia with 384 domestic branches and 190 international branches and offices. Maybank is largest listed companies on the Malaysian Stock Exchange, Bursa Malaysia
, with a market capitalisation of over RM54 billion (USD22 billion) as of end-March 2011.
In 2008, Maybank completed the acquisition of 15% in An Binh Bank (Vietnam), 20% of Muslim Commercial Bank of Pakistan
and 97.5% of Bank Internasional Indonesia (BII). In addition, Maybank won for the second year Malaysia's Most Valuable Brand (worth RM9.3 billion), and Deal of the Year - Insolvency & Restructuring Deal of the Year at the 2008 ALB SE Asia Law Awards.
In 2011, Maybank was ranked at 458th in the Forbes Global 2000 Leading Companies with market cap of USD 20.98 billion.
Maybank operates consumer banking, business and corporate banking as well as private banking services, through a network of 384 branch offices and more than 2,800 automated teller machine
s in Malaysia. The company operates 22 branches throughout Singapore
providing a full range of banking and financial products and services. Maybank, through Maybank Philippines Incorporated, has 50 branches in the Philippines
and also has a banking presence in most of the other Southeast Asian markets, including Brunei
, Papua New Guinea
, Indonesia
, Cambodia
and Vietnam
. The bank also operates branches in New York
, London
, Hong Kong
and Bahrain
Beside its commercial banking network, Maybank operates a number of specialized subsidiaries in the insurance, investment banking and assets management, and finance sectors. The group's subsidiaries include Etiqa Insurance & Takaful which provides both conventional and Shariah-compliant insurance products, and Maybank Investment Bank which is the Group's investment banking division following the acquisition of Mayban Discount and Mayban Securities. Maybank was the first Malaysian bank granted the right to establish a branch office in China
.
Maybank was founded by Malaysian business tycoon Khoo Teck Puat
, who died in 2004. The company was led by President and CEO Amirsham Abdul Aziz
for some two decades 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. Dato' Sri Abdul Wahid Omar was officially appointed as President & CEO of Maybank Group in May 2008.
As of June 30, 2010, Maybank is the largest Malaysian bank, boasting group assets worth RM337 billion (US$106 billion), placing it among the top 120 banks worldwide. Malayan Banking is also a listed corporation on Bursa Malaysia
.
Net Profit = RM3.82 billion (USD1.2 billion)
Net Profit = RM3.55 billion (USD1.11 billion)
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
and financial group
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
in Malaysia, with significant banking operations in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
and the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
. The bank also has large interests in Islamic banking
Islamic banking
Islamic banking is banking or banking activity that is consistent with the principles of Islamic law and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money...
through Maybank Islamic Berhad and insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
via its Etiqa subsidiary. Maybank is the largest bank in Malaysia with 384 domestic branches and 190 international branches and offices. Maybank is largest listed companies on the Malaysian Stock Exchange, Bursa Malaysia
Bursa Malaysia
Bursa Malaysia is an exchange holding company approved under Section 15 of the Capital Markets and Services Act 2007. It operates a fully integrated exchange, offering the complete range of exchange-related services including trading, clearing, settlement and depository services.- History :Bursa...
, with a market capitalisation of over RM54 billion (USD22 billion) as of end-March 2011.
In 2008, Maybank completed the acquisition of 15% in An Binh Bank (Vietnam), 20% of Muslim Commercial Bank of Pakistan
Muslim Commercial Bank
MCB Bank Limited was incorporated by the Adamjee Group on July 9, 1947, under the Indian Companies Act, VII of 1913 as a limited company. The bank was established with a view to provide banking facilities to the business community of the South Asia. The bank was nationalized in 1974 during the...
and 97.5% of Bank Internasional Indonesia (BII). In addition, Maybank won for the second year Malaysia's Most Valuable Brand (worth RM9.3 billion), and Deal of the Year - Insolvency & Restructuring Deal of the Year at the 2008 ALB SE Asia Law Awards.
In 2011, Maybank was ranked at 458th in the Forbes Global 2000 Leading Companies with market cap of USD 20.98 billion.
Corporates
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
s in Malaysia. The company operates 22 branches throughout Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
providing a full range of banking and financial products and services. Maybank, through Maybank Philippines Incorporated, has 50 branches in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
and also has a banking presence in most of the other Southeast Asian markets, including Brunei
Brunei
Brunei , officially the State of Brunei Darussalam or the Nation of Brunei, the Abode of Peace , is a sovereign state located on the north coast of the island of Borneo, in Southeast Asia...
, Papua New Guinea
Papua New Guinea
Papua New Guinea , officially the Independent State of Papua New Guinea, is a country in Oceania, occupying the eastern half of the island of New Guinea and numerous offshore islands...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
, Cambodia
Cambodia
Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia...
and Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
. The bank also operates branches in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
and Bahrain
Bahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
Beside its commercial banking network, Maybank operates a number of specialized subsidiaries in the insurance, investment banking and assets management, and finance sectors. The group's subsidiaries include Etiqa Insurance & Takaful which provides both conventional and Shariah-compliant insurance products, and Maybank Investment Bank which is the Group's investment banking division following the acquisition of Mayban Discount and Mayban Securities. Maybank was the first Malaysian bank granted the right to establish a branch office in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
.
Maybank was founded by Malaysian business tycoon Khoo Teck Puat
Khoo Teck Puat
Tan Sri Khoo Teck Puat a banker and hotel owner, who, with an estimated fortune of $4.3 billion, was formerly Singapore's wealthiest man. He owned the Goodwood Group of boutique hotels in London and Singapore and was the largest single shareholder of Britain's Standard Chartered Bank...
, who died in 2004. The company was led by President and CEO Amirsham Abdul Aziz
Amirsham Abdul Aziz
Tan Sri Amirsham Abdul Aziz is the former president and chief executive officer of Maybank. His parents A. Aziz Podo and Marsinah Djamil, migrated from Silungkang, West Sumatra. He was recently named as Minister in the Prime Minister's Department in charge of the Economic Planning Unit...
for some two decades 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. Dato' Sri Abdul Wahid Omar was officially appointed as President & CEO of Maybank Group in May 2008.
As of June 30, 2010, Maybank is the largest Malaysian bank, boasting group assets worth RM337 billion (US$106 billion), placing it among the top 120 banks worldwide. Malayan Banking is also a listed corporation on Bursa Malaysia
Bursa Malaysia
Bursa Malaysia is an exchange holding company approved under Section 15 of the Capital Markets and Services Act 2007. It operates a fully integrated exchange, offering the complete range of exchange-related services including trading, clearing, settlement and depository services.- History :Bursa...
.
Financials
Maybank Group financials (FY ending 30 June 2010)
Total Assets = RM336.7 billion (USD105.9 billion)Net Profit = RM3.82 billion (USD1.2 billion)
Maybank financials (FY ending 30 June 2010)
Total Assets = RM248.4 billion (USD78.1 billion)Net Profit = RM3.55 billion (USD1.11 billion)
Chronology
- 1960 - The bank was formed and founded by Malaysian business tycoon Khoo Teck PuatKhoo Teck PuatTan Sri Khoo Teck Puat a banker and hotel owner, who, with an estimated fortune of $4.3 billion, was formerly Singapore's wealthiest man. He owned the Goodwood Group of boutique hotels in London and Singapore and was the largest single shareholder of Britain's Standard Chartered Bank...
with a few partners in Kuala LumpurKuala LumpurKuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
. The bank grew rapidly to more than 150 branches within 3 years. In 1963, the bank purchased Goodwood Park Hotel, SingaporeSingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
for $4.8 million. - 1964 - The company established Mayban Trustees Bhd (MTB)
- 1965 - Khoo Teck PuatKhoo Teck PuatTan Sri Khoo Teck Puat a banker and hotel owner, who, with an estimated fortune of $4.3 billion, was formerly Singapore's wealthiest man. He owned the Goodwood Group of boutique hotels in London and Singapore and was the largest single shareholder of Britain's Standard Chartered Bank...
was ousted from Maybank by the Government of Malaysia under the then Deputy Prime Minister Tun Abdul Razak's administration on the pretext of pumping the bank's money into his own private firm in SingaporeSingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. - 1973 - Forming its own investment banking subsidiary, 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
- 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
- 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
- 1996 - Entered a joint-venture with PT Bank Nusa Internasional (IndonesiaIndonesiaIndonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
), bringing the Maybank name to the Indonesian market - 1997 - Joined forces with Philippine National Bank, acquiring 60 percent stake of the former Republic Savings Bank
- 1997 - Renamed its new subsidiary Maybank Philippines Inc. (MPI) which later gained full control of the enterprise
- 1997 - Acquired through Philmay Holding Inc. and establishment of the real estate and property development vehicle Philmay Property Inc.
- 2000 - Maybank Philippines Inc. (MPI) network boasted nearly 60 branches across the PhilippinesPhilippinesThe Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
- 2000 - Merger completed with the Pacific Bank and the PhileoAllied Bank after Malaysian Government directive.
- 2000 - the corporate cracked the world top 120 banks for the first time
- 2001 - Opened a branch office in Shanghai after gaining a licence in ChinaChinaChinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
- 2001 - Applied for a license to begin operations in BahrainBahrain' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
- 2002 - Launched of Mayban Takaful Bhd begin promoting Takaful insurance products
- 2004 - Failed in a bid to take over Bank Permata of Indonesia
- 2005 - Finally received approval to launch a takeover bid, through its Aseambankers subsidiary, of BinaFikir Sdn Bhd. However, this deal had fallen through by the end of 2005.
- 2005 - Acquired, via the Insurance Company Mayban Fortis, MNI Insurance and Takaful Nasional
- 2006 - Maybank acquired American Express' card business in Malaysia
- 2007 (Nov) - MNI Insurance and Takaful Nasional were rebranded as Etiqa Insurance & Etiqa Takaful respectively. Subsequently, Mayban Takaful transferred all its business, assets and liabilities to Etiqa Takaful.
- 2008 (May) - Dato' Sri Abdul Wahid Omar, is officially appointed as President & CEO of Maybank Group.
- 2008 - Completed the acquisition 15% in An Binh Bank (Vietnam), 20% of MCB Bank Ltd (Pakistan) and 97.5% of Bank Internasional Indonesia (BII).
- 2009 (January) - Renamed its subsidiary Aseambankers to Maybank Investment Bank.
- 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 44.6% of Kim EngKim Eng Holdings LimitedKim Eng Holdings Limited is a securities and investment broker in Asia. It was incorporated in 1972 to provide stock broking services in Singapore. The group's network coverage spans 10 countries; servicing institutional, corporate, high net worth and retail investors...
share
Principal subsidiaries and associate companies
- Maybank Investment Bank Berhad - Investment banking
- Maybank Islamic Berhad - Islamic banking
- Etiqa International Holdings - Insurance and Takaful (Islamic Insurance)
- PT Bank Internasional Indonesia Tbk - Top 10 largest bank in Indonesia
- Maybank Philippines Incorporated - Commercial bank in Philippines
- MCB Bank Limited - Commercial bank in Pakistan
- An Binh Bank Commercial Joint Stock Bank - Commercial bank in Vietnam
- PT Bank MayBank Indocorp - Shariah bank in Indonesia
- Bina Fikir Sdn Bhd - Financial advisory
- Mayban Ventures Sdn Bhd - Venture capital
- Maybank (PNG) Ltd - Commercial banking in Papua New Guinea
- Maybank International (L) Limited - Offshore banking in Labuan
Principal Competitors
- Public Bank BhdPublic BankPublic Bank Berhad is a bank based in Malaysia. Public Bank is currently the biggest domestic bank in Malaysia by shareholders' funds. It focuses on retail customers and small to medium sized enterprises. The bank was founded in 1966 by Teh Hong Piow, the then general manager of Malayan Banking...
- CIMB BhdCIMBCIMB Group CIMB Group is a regional universal bank operating in high growth economies in ASEAN. CIMB Group has the widest retail branch network across the region and is an indigenous ASEAN investment bank....
- RHB Bank BhdRHB BankRHB Bank Berhad is a bank based in Kuala Lumpur, Malaysia. It specializes in commercial banking, corporate and investment banking and international banking services...
- AMMB Holdings BhdAmBankAMMB Holdings is currently the fifth largest banking group in Malaysia, with more than 200 branches and their outlets , providing individuals and businesses with a range of financial services and products.AmBank Group was founded in 1975 as Arab-Malaysian Development Bank, by Merchant Banking...
- Hong Leong Bank BhdHong Leong BankHong Leong Bank is a bank in Malaysia.Hong Leong Bank was founded by Mr LAM Ji Chiew and began its operations in 1905 in Kuching, Sarawak under the name of Kwong Lee Mortgage & Remittance Company. The company granted loans against the security of export commodities such as pepper, rubber and other...
- HSBC Bank Malaysia BhdHSBC Bank MalaysiaHSBC Bank Malaysia Berhad was incorporate locally in Malaysia in 1994. It is part of the HSBC Group and is wholly owned by Hong Kong-based The Hongkong and Shanghai Banking Corporation Limited.-Malaysian banking:...
- Citibank Bhd
Commercial Banking
- Maybank
- Maybank Islamic Berhad
- Maybank International (L) Limited
- Maybank Philippines Incorporated
- Maybank (PNG) Limited
- PT Bank Maybank Indocorp
- PT Bank Internasional Indonesia Tbk
- MCB Bank Limited
Insurance
- Etiqa Insurance (previously known as MNI Insurance)
- Etiqa Takaful (previously known as Takaful Nasional)
- Etiqa Offshore Insurance (Labuan) Ltd (previously known as Mayban Life International (Labuan) Ltd)
- Mayban General Assurance Bhd
- Mayban Life Assurance Bhd
- Mayban Takaful Berhad (transferred all business, assets and liabilities to Etiqa Takaful)
Investment Banking
- Maybank Investment Bank Bhd
- Mayban Discount Bhd
- Mayban Investment Management Sdn Bhd
- Mayban Securities Sdn Bhd
- Mayban Securities (Holdings) Sdn Bhd