Maybank
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| Malayan Banking Berhad (Maybank) | |
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| Type | Public |
| Founded | Incorporated May 31, 1960 |
| Founder | Khoo Teck Puat |
| Headquarters | Kuala Lumpur, Malaysia |
| Area served | Personal banking services in: Malaysia Brunei Philippines Singapore |
| Key people | Abdul Wahid Omar, CEO |
| Industry | Banking and Finance |
| Products | Banking and Finance Services |
| Revenue | ▲RM15.18 billion |
| Website | http://www.maybank2u.com.my |
Maybank (MYX: 1155), a trade name for Malayan Banking Berhad is the largest bank and financial group in Malaysia, with significant personal banking operations in Brunei, Singapore and the Philippines as well. The bank also has large interests in Islamic banking and insurance via its Etiqa subsidiary. Maybank is the largest bank in Malaysia with 361 domestic branches and 88 international branches. Maybank is the second largest listed company on the Malaysian Stock Exchange, Bursa Malaysia, with a market capitalisation of over RM46.3 billion as of mid-December 2007. On May 5th, 2008 Maybank bought 15% of Muslim Commercial Bank of Pakistan[1]
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[edit] Corporates
Maybank operates a full range of commercials as a number of local banks around the world, corporate, and private banking services, with a network of more than 450 branch offices and more than 2,000 ATM machines in Malaysia. The company operates 22 branches throughout Singapore providing a full range of banking and financial products and services. Maybank, through Maybank Philippines Incorprated, has 45 branches in the Philippines and also has a banking presence in most of the other Southeast Asian markets, including Brunei, Papua New Guinea, Indonesia, and Vietnam. The bank also operates branches in New York and London.
Maybank was the first Malaysian bank granted the right to establish a branch office in China, a particularly important market given the large and economically powerful ethnic Chinese population in Malaysia. 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; the Aseam group, including Aseam Credit, Aseamlease, Aseam Unit Trust, and Aseambankers Malaysia Bhd; Mayban International Trust, Mayban Discount, and Mayban Investment Management; and Mayban Securities.
Maybank was founded by Malaysian business tycoon Khoo Teck Puat, who died in 2004. However, the company has been led by President and CEO Amirsham Abdul Aziz for some two decades. Amirsham was appointed Minister in the Prime Minister's Department in-charge of the Economic Planning Unit since March 18, 2008.
As of December 31, 2006, Maybank was the largest Malaysian bank, boasting assets worth USD$66.7 billion, placing it among the top 120 banks worldwide. Malayan Banking is also a listed corporation on Bursa Malaysia.
[edit] Financials
[edit] Maybank Group financials
Total Assets = 64 billion USD. Net Profit (FY 2005/2006) = 0.80 billion USD
[edit] Maybank financials
Total Assets = 56 billion USD. Net Profit (FY 2005/2006) = 0.70 billion USD
[edit] Chronology
- 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.
- 1964 - The company established Mayban Trustees Bhd (MTB)
- 1965 - Khoo Teck Puat 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 Singapore.
- 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 launching 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 (Indonesia), 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 Philippines
- 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 China
- 2001 - Applied for a license to begin operations in Bahrain
- 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
- 2007 (May) - Maybank courted controversy when it set out a guideline via an internal circular requiring law firms that intend to deal with the bank to have at least three partners, where one must be a Bumiputra. The guideline was accused of being discriminatory. However, although it is not an official Government policy, it is a norm in Malaysian banking and legal practice, and is tacitly approved by the Malaysian Government. Owing to the concrete proof from the internal circular that such a practice exists, the Malaysian Cabinet of Ministers had to order the bank to cease such practices, although there is still no stopping the bank (and all other Malaysian banks) to continue with such practices unofficially.
- 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.
[edit] Principal subsidiaries
- Aseam Credit Sdn Bhd
- Aseam Malaysia Nominees (Asing) Sdn Bhd
- Aseam Malaysia Nominees (Tempatan) Sdn Bhd
- Aseambankers Malaysia Bhd
- Aseamlease Bhd
- Etiqa Insurance & Takaful
- Mayban (Nominees) Sdn Bhd
- Mayban Discount Bhd
- Mayban General Assurance Bhd
- Mayban International Trust
- Mayban International Trust (Labuan) Bhd
- Mayban Investment Management Sdn Bhd
- Mayban Life Assurance Bhd
- Mayban Life International (Labuan) Ltd
- Mayban Nominees (Asing) Sdn Bhd
- Mayban Nominees (Hong Kong) Ltd
- Mayban Nominees (Singapore) Pte Ltd
- Mayban Nominees (Tempatan) Sdn Bhd
- Mayban Offshore Corporate Services (Labuan) Sdn Bhd
- Mayban Securities (Holdings) Sdn Bhd
- Mayban Securities Nominees (Asing) Sdn Bhd
- Mayban Securities Nominees (Tempatan) Sdn Bhd
- Mayban Securities Nominees Sdn Bhd
- Mayban Securities Sdn Bhd
- Mayban Takaful Berhad
- Mayban Trustees Bhd
- Mayban Unit Trust Berhad
- Mayban Venture Capital Co Sdn Bhd
- Mayban Ventures Sdn Bhd
- Maybank (PNG) Ltd
- Maybank International (L) Limited
- Maybank International Islamic Banking Operations
- Maybank Philippines Inc
- Mayfin Nominees (Tempatan) Sdn Bhd
- Philmay Holding Inc.
- Philmay Property Inc.
- PT Bank MayBank Indocorp
- RPB Venture Capital Corporation.
[edit] Principal Competitors
- RHB Bank Bhd
- Bumiputra-Commerce Bank Bhd
- Rashid Hussain Bhd
- RHB Capital Bhd
- Public Bank Bhd
- AMMB Holdings Bhd
- Hong Leong Bank Bhd
- AMFB Holdings Bhd
- EON Bank Group
- HSBC Bank Malaysia Bhd
- Citibank Bhd
- CIMB Bhd
- AFB
[edit] Subsidiaries and related firms
[edit] Commercial Banking
- Maybank
- Maybank International (L) Limited
- Maybank Philippines Inc
- Maybank (PNG) Ltd
- PT Bank MayBank Indocorp
- Maybank Vietnam
- MCB Bank Ltd
[edit] 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)
[edit] Finance
- Aseam Credit Sdn Bhd
- Aseamlease Bhd
[edit] Investment Banking
- Aseambankers Malaysia Bhd
- Mayban Discount Bhd
- Mayban Investment Management Sdn Bhd
- Mayban Securities Sdn Bhd
- Mayban Securities (Holdings) Sdn Bhd
