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All about: Maybank Group

Maybank is the Malaysia's largest banking and financial group, with operations in Indonesia, the Philippines and a number of other countries in various continents. It has assets totaling more than 100 billion US dollars, and is ranked as one of the world’s top 120 banks. It has 384 domestic branches and an additional of 190 branches around the world.

Core focus

Introducing the bank Maybank emphasises in consumer banking, as well as in corporate and business banking. The group operates branches in the global financial centres of London, New York and Hong Kong and focuses on Islamic banking. As one of the major national banks, Maybank is also noted as the first Malaysian company to receive the permission to develop a branch in China. The group also runs a number of subsidiaries in insurance, assets management and investment banking, including the companies Etiqa Insurance & Takaful. In 2010, the public bank celebrated its 50th anniversary and its founding by Khoo Teck Puat, a Malaysian business tycoon who died in 2004.

Expansion

Over the years, the group grew extensively, expanding its operations into the investment banking sector after forming the Asian & Euro-American Merchant Banking subsidiary, before taking on the stock broking sector in 1987 after setting up the Mayban Securities Sdn Bhd. Chief executive of the bank Since the spring of 2008, Sri Abdul Wahid Omar has been serving as the bank’s new chief executive. However, for around 20 years, Maybank was led by chief executive Amirsham Abdul Aziz until 2008 before he moved to the Malaysian Prime Minister’s Economic Planning Unit as the department’s new Minister (a post he held for just 11 months). In 2008, the bank acquired a 15 percent stake in the Vietnamese, An Binh Bank, and 20 percent of the Pakistan’s Muslim Commercial Bank. It also won a number of prestigious awards at the ALB Southeast Asia Law Awards, including the title of the ‘Most Valuable Brand’ and Insolvency & Restructuring Deal of the Year. In 2011, the bank also acquired a 44.6 percent stake in the Kim Eng share after being the first Malaysian bank to introduce a Dividend Reinvestment Plan in the previous year. Its total international net profit is estimated at just over 1 billion US dollars.

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