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Tag: Maybank

  • Boom time for Thailand internet shopping

    Boom time for Thailand internet shopping

    As consumers become more tech savvy, Thailand internet shopping has boomed.

    Online retail sales in Thailand are more than doubling annually, whereas traditional stores are seeing only about 10 per cent growth.

    This is attributed to a combination of stronger and faster internet speeds in Thailand plus the success of online merchants such as Lazada.

    Thailand mobile-phone company Total Access Communication estimates Thais spend up to six hours a day on social media websites like Facebook and Youtube.

    Corporate financial services company Maybank Kim Eng Holdings says Thailand is the only Southeast Asian country that includes an online category for retail sales data.

    While online sales in Southeast Asia have been growing strongly, they still account for less than 4 per cent of overall retail purchases, according to a Maybank report by economists Chua Hak Bin and Lee Ju Ye.

    Larger markets, like China and South Korea, already have higher penetration rates of online retailing at 16 and 18 per cent respectively. They say this shows the potential for Southeast Asia, where e-commerce sales could reach 5 to 10 per cent of overall retail purchases over the next five years.

    Meanwhile, Alibaba Group Holding founder Jack Ma has joined a government panel in Indonesia that has the task of steering the e-commerce industry in Southeast Asia’s most-populous nation. Macquarie Research estimates online retailing in the country could reach $65 billion by 2020.

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  • Maybank Indonesia Patmi up 16.3% in 1H

    Maybank Indonesia Patmi up 16.3% in 1H

    Malayan Banking Bhd’s (Maybank) Indonesian unit PT Bank Maybank Indonesia Tbk (Maybank Indonesia) posted a 16.3% year-on-year (y-o-y) rise in profit after tax and minority interests (Patmi) to 998.5 billion rupiah (RM320.7 million) for the first six months ended June 30, 2017 (1HFY17), from 858.4 billion rupiah, on an overall improvement in its core banking business.

    In a statement yesterday, Maybank said Maybank Indonesia’s net interest income rose 7% y-o-y to 3.8 trillion rupiah in 1HFY17, from 3.6 trillion rupiah, mainly due to the bank’s discipline in loan pricing and active funding management.

    The net interest margin improved to 5.3% in June 2017, compared with 5% in June 2016, while fee-based income grew 9.1% to 1.5 trillion rupiah from 1.3 trillion rupiah.

    “I am pleased the bank continued to show encouraging improvement for the first semester despite the challenging macroeconomic environment,” Maybank group president and chief executive officer Datuk Abdul Farid Alias said. He is also Maybank Indonesia’s president commissioner.

    Maybank Indonesia’s global banking loans grew 18.9% to 27.3 trillion rupiah in June this year, as a number of key deals were successfully realised.

    Its community financial services (CFS) non-retail loans, which comprise micro, small and medium enterprises, and business banking, grew by 2% to 50.1 trillion rupiah. However, due to a slowdown in consumer spending, CFS retail loans declined 6.4% to 42.5 trillion rupiah, the banking group added.

    Maybank Indonesia’s asset quality was also maintained, with the consolidated non-performing loan (NPL) level remaining at 3.6% (gross) and 2.4% (net) as of June 2017, compared to a year earlier. Provision expenses declined by 15.7% to 835.8 billion rupiah in June 2017, from 991.1 billion rupiah in June 2016.

    The loan-to-deposit ratio (bank only) stood at a “healthy” 86.7%, while the loan-to-funding ratio (bank only) was at 85.9%. Total customer deposits grew 5%, from 114.1 trillion rupiah in 1HFY16 to 119.8 trillion rupiah in 1HFY17, with the current account and savings account ratio reaching 37.4%.

    Maybank said its Indonesian unit’s continuous focus on transactional banking and electronic channels, which include its Internet-based mobile banking facility Maybank M2U, also “contributed greatly” to the improved liquidity position.

    Syariah banking also continued to perform in 1HFY17, said Maybank, with net profit growing 95.9% to 384.9 billion rupiah in June 2017, from 196.4 billion rupiah in June 2016.

    “Total syariah financing rose 49%, reaching 16.2 trillion rupiah in June 2017, compared with 10.8 trillion rupiah in June 2016, while deposits jumped 41.4% to 13.5 trillion rupiah from 9.6 trillion rupiah,” Maybank said.

    Meanwhile, Maybank Finance reported a 20.4% rise in profit before tax to 174.9 billion rupiah in June 2017, from 145.2 billion rupiah in June 2016, with a 21.9% rise in consumer financing (stand-alone) to 6.7 trillion rupiah from 5.5 trillion rupiah. In terms of asset quality, gross and net NPLs stood at 0.4% and 0.3% respectively.

    “Our strong first-semester results clearly reflect the steady improvement in our core business performance as strong fundamentals, rigorous risk management practices, as well as a disciplined approach towards pricing and growth are well in place,” said Maybank Indonesia president director Taswin Zakaria.

    The bank is confident of seeing sustainable profit growth in the remainder of 2017, he added.

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  • Maybank anticipates 35% rise in 2017 retail SME financing

    Maybank anticipates 35% rise in 2017 retail SME financing

    Malayan Banking Bhd is anticipating financing to the retail small and medium enterprise (SME) segment to jump 35% this year — compared with 27% last year — which will up the segment’s loan portfolio to RM16.8 billion by year end.

    The growth is expected to be driven by business property-based loans, portfolio guarantee (PG), trade finance, commercial cards, micro credit and SME deposits, said Maybank’s community financial services (CFS) head in Malaysia, Datuk Hamirullah Boorhan, in a statement today.

    This retail SME segment typically comprise businesses with turnover of RM25 million and below, and is a key component to the banking group’s CFS portfolio, said Hamirullah.

    Some 61% of the segment’s financing last year comprised Islamic financing, with the remainder made up by conventional loans.

    To support the segment’s growth, Maybank is raising its number of seminars under its ‘Building Capacity & Capability’ Programme, which is now in its 3rd year, to 15 seminars in 2017, compared with just eight seminars last year.

    The programme is aimed at enabling retail SMEs to better understand the banking facilities available to them and how they can leverage on these services to grow their businesses, said Maybank.

    “The half day sessions are jointly hosted by industry experts, as well as financial advisors from Maybank who provide insight into traditional banking products, as well as new opportunities available through online and digital platforms.

    “Participants [will] also benefit from business insights and financial tips shared by renowned speakers, as well as joint business networking sessions with other SMEs and field experts,” the statement read.

    “Given our wealth of experience in serving this segment, we are confident that we can help the retail SME segment run their businesses more effectively, manage their cash flows better and leverage new-age technology to take their businesses to the next level,” said Hamirullah.

    This year, Maybank is roping in local market expert Aladdin Street.Com to share on the impact of e-commerce and globalisation, while Credit Guarantee Corporation Malaysia (CGC) will also be present to provide direct assistance to participants.

    “With the wealth of opportunities expected from the implementation of the Digital Free Trade Zone, we want to ensure that local SMEs are sufficiently equipped with knowledge and resources to benefit from the expected boost in e-commerce growth in Malaysia,” said Hamirullah.

    “Our BCC programme will cover 15 sub-urban locations nationwide over the next six months and reach out to more than 1,200 entrepreneurs,” he said.

    “We will also include informative knowledge sharing sessions such as on the e-Commerce halal marketplace, M2uPay solution, access to CGC financing and portfolio guarantee, as well as marketing and branding tips,” he added.

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  • Maybank CEO Farid becomes Maybank Indonesia president commisioner

    Maybank CEO Farid becomes Maybank Indonesia president commisioner

    Maybank Indonesia Tbk on Monday announced the appointment of Malayan Banking Bhd (Maybank) group president and chief executive officer Datuk Abdul Farid Alias as its new president commissioner (similar to a chairman’s position).

    Maybank Indonesia head of corporate communications and branding, Esti Nugraheni, said in a statement that Abdul Farid was taking over from Tan Sri Megat Zaharuddin Megat Mohd Nor after an AGM held on Sunday accepted his resignation.

    The AGM also approved the appointment of Restiana Ie Tjoe Linggadjaya as director, succeeding Ghazali Mohd Rasad who completed his term of service.

    “The board would like to thank Tan Sri Megat and Ghazali for their dedication to Maybank Indonesia, and welcome the new members of our board of commissioners and board of directors,” it said.

    Maybank Indonesia also announced that the bank recorded a 71.0% increase in net profit to Rp1.95 trillion (RM3.3 billion) for the financial year ended Dec 31, 2016 compared with Rp1.14 trillion achieved in the previous corresponding year, despite the economic slowdown.

    Maybank Indonesia is one of the largest banks with 428 branches including Syariah branches and micro functional offices across Indonesia.

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  • Maybank Indonesia sells stake in WOM Finance to Reliance Capital Management

    Maybank Indonesia sells stake in WOM Finance to Reliance Capital Management

    Private lender Maybank Indonesia has sold all stakes in motorcycle financing firm Wahana Ottomitra Multiartha (WOM Finance) to Indonesian financial services provider Reliance Capital Management in a deal worth Rp 673.8 billion (US$50.71 million).

    Maybank announced on Thursday that it had signed a conditional share purchase agreement with Reliance Capital Management on Jan. 11 to sell 2.39 billion shares—equal to 68.55 percent stake—in WOM Finance.

    “The transfer of shares is one of the company’s strategic initiatives to maximize the company’s capital allocation and to streamline customer segmentation, so they can contribute to the optimization of the company’s resources,” Maybank wrote in a statement submitted to the Indonesia Stock Exchange (IDX).

    The share transfer is expected to be completed in the first quarter of 2017, after both companies fulfill all terms listed in the agreement.

    Data from Maybank said the automotive slowdown in the past few years had dragged down its own financial performance, as WOM posted poor results.

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  • Maybank launches mobile money transfer service in Malaysia with Western Union

    Maybank launches mobile money transfer service in Malaysia with Western Union

    Maybank and Western Union have launched a digital remittance service in Malaysia via the Maybank2u (“M2u”) mobile banking app and Maybank’s website.

    The service enables Maybank customers to transfer money to more than 500,000 Western Union® Agent locations in over 200 countries and territories. The money transfer service is available 24 hours a day and customers to transfer up to RM10,000 daily. Recipients will be able to receive money quickly after it is wired by the sender.

    “This new service reflects the same commitment we have as Western Union in providing consumers the best in cross-border financial services. Maybank customers are now able to enjoy fast, convenient and reliable cross-border remittance transfer services digitally around the world,” said Maybank Group Head, Community Financial Services, Datuk Lim Hong Tat.

    “We have revolutionised the money transfer processes for Maybank customers when comparing with current practice where they need to visit a Western Union Agent location in order to transfer money. Now, all they need to do is log in to the M2u App and select the Western Union service, and they are good to go,” added Lim.

    Lim added that new service will help the bank to grow its digital transactions business.

    Bassem Awada, Western Union Vice President for Key Initiatives, Middle East, Africa, Asia Pacific, Eastern Europe and CIS, said, “This mobile banking app not only grows our relationship with Maybank, but also strengthens our position in Malaysia’s cross-border money transfer market. The combination of Maybank’s strong presence in digital banking and Western Union’s growing digital network, geographic reach and ability to exchange in 130 currencies enables us to move money quickly and reliably.”

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  • One of SEA’s leading banks teams up with Powerman for two duathlon events

    One of SEA’s leading banks teams up with Powerman for two duathlon events

    Maybank, South East Asia’s fourth largest bank, and Powerman Philippines, the Philippine affiliate of the International Powerman Association (IPA), are hosting two duathlon race events in the Philippines this year.

    The first race, which was held last November 20, 2016 at the SM Mall of Asia by the Bay, Anytime Fitness Powerman Philippines Asian Invitational was co-presented by Maybank. Professional duathletes Jason Loh and Su Teoh from Malaysia and Airi Sawada from Japan flew in to be part of the race’s Elite Category.

    Maybank is also the title presentor of the Powerman Philippines World Series which will be held on December 3 and 4 at the Clark Freeport Zone in Pampanga. Ten professional duathletes including Powerman World from all over the globe including the two-time Powerman World Champion and Powerman Philippines Ambassador Gael Le Bellec three-time and defending Powerman World Champion Emma, and defending Powerman World Champion Seppe Odeyn will fly to the Philippines for this race.

    Aside from having a Powerman Short, this event will also feature the Powerman Classic (10 km run– 60 km bike –10 km run), the Powerkids (for kids ages 6-12) and the Powerteens (for teens aged 13-19).

    The Maybank Powerman Philippines World Series is also a qualifying event for the Powerman Duathlon World Championships to be held in Zofingen, Switzerland in 2017. The event attracts a host of professional and highly competitive age-group athletes, seasoned multi-sport athletes who want to take on a different challenge, and athletes who have just started in the multi-sport category.

    “Maybank welcomes this partnership with Powerman Philippines,” according to Richard C. Lim, Executive Vice President and Head of the Retail Business Group of Maybank Philippines, Inc. “Maybank prides itself in being at the heart of the communities we are present in. Being associated with this important sporting event, with almost 3,000 participants in both races, and leveraging on this type of sports sponsorship platform can definitely help elevate our brand in the Philippines. We are excited by the fact that the biggest event, the Powerman Philippines World Series, will be held in Clark where Maybank has one of its largest branches in North Luzon, an area where we have a strong branch network, the largest of any foreign bank in the country.”

    Mr. Lim added, “Endurance sports are gaining popularity in the country and Maybank wants to capitalize on this and become associated with the positive values that sporting events promote.”

    “The inclusion of Maybank definitely adds prestige to both Powerman events this year,” says Owen Gan, President of Powerman Philippines. “Being one of the largest banks in South East Asia, Maybank will definitely help Powerman in gaining popularity in the Philippines, and eventually in the region, especially now that there are more Powerman events lined up for 2017.”

    Part of the proceeds of Powerman will go towards buying bicycles and other gear for the Batang Tri Grassroots program that supports young individuals who do not have the financial means to enter the world of multi-sports.

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  • India auto sales soar 20% in September ahead of festive seasons

    India auto sales soar 20% in September ahead of festive seasons

    Demand is expected to slowdown in the coming months, however.

    During Sep-16, domestic sales of passenger vehicles rose 20% YoY and two wheelers grew 22% YoY, ahead of Diwali and Dussera in Oct-16.

    MayBank KimEng’s channel checks suggest the demand for automobiles is 10% more than in the previous two festive seasons.

    “We expect demand to normalize lower in Nov and Dec as dealers start cutting inventories,” it said in a report.

    The Society of Indian Automobile Manufacturers (SIAM) confirmed the uptrend by revising up its sales growth forecast to 10-12% for FY17 from 6-8%.

    “We will wait for two more months of retail sales data before deciding whether to revise up our growth forecasts,” said MayBank KimEng.

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  • Maybank joins up with Samsung Pay

    Maybank joins up with Samsung Pay

    Singapore’s Maybank has joined the Samsung Pay bandwagon to help meet its goal of strengthening its digital presence across the region.

    Launched in partnership with Samsung Electronics Singapore, the deployment will enable customers to use their Maybank credit and debit cards to perform transactions at most point‐of‐sale (POS) terminals in Singapore.

    This mobile wallet deployment is expected to bring greater payment convenience to Maybank’s Singapore customers.

    In conjunction with the launch, Maybank Singapore will be offering special promotions for its customers including cash rebates, lucky draws and 1‐for‐1 promotions.

    CEO, Maybank Singapore, Datuk Lim Hong Tat said this partnership with Samsung forms part of Maybank’s digital roadmap for its regional operations, with Singapore being the first ASEAN market to launch Samsung Pay.

    Group Chief Strategy Officer of Maybank Michael Foong, said, “Over 40% of our customers in Singapore are now transacting using their Maybank Singapore contactless credit cards, and cardholders here can now use this Samsung Pay facility virtually anywhere in the world 1 where credit or debit cards are accepted.”

    The launch of Samsung Pay in Singapore follows the bank’s introduction of its mobile wallet in Malaysia last month, and will be followed by the progressive roll‐out of other digital initiatives across the region.

    Other past initiatives include the launch of mobile banking apps with augmented reality in some regional markets, biometric authentication, cardless withdrawals, “e‐ang pows” for festive gifts and even hackathon events for the tech community.

  • Allianz secures distribution rights with Malaysia’s Maybank

    Allianz secures distribution rights with Malaysia’s Maybank

    Allianz is hoping the agreement will give access to Maybank’s 4 million customers in Asia. The insurer said it has jointly developed three life insurance products with Maybank which includes a unit-linked life insurance product compliant with Islamic Shariah law, a single-premium investment product and a life policy which combine protect with investment. “This partnership demonstrates Allianz’s continued focus on growing in the Asia region, of which Indonesia is a key priority.

    We’re excited to bring our multi -channel approach, innovative products and digital expertise to serve the protection needs all Maybank customers,” said Allianz’s regional chief executive for Asia Pacific, George Sartorel, in a statement on Tuesday. Under the collaboration, a team of more than 150 insurance advisers will sell the products to Maybank clients via their retail branches. Joachim Wessling, chief exectuive of Allianz Life Indonesia said: “This cooperation between two outstanding companies combines our strengths in providing world-class services and solutions, to deliver insurance protection tailored to our customers’ needs. We look forward to working closely with Maybank to secure a safer future for our customers in Indonesia.”

    Last week, it emerged that Allianz and France’s Axa are locked in a bidding war to acquire the 15-year distribution rights to sell insurance products through Standard Chartered’s channels in Asia. Meanwhile, Hanwha Life, South Korea’s second largest life insurer, is set to pump KRW150bn (£102m, €121m, $134m) into its Indonesian arm in a bid to expand its foothold in the country’s booming insurance sector.

  • Bursa Malaysia opens slightly higher

    Bursa Malaysia opens slightly higher

    Bursa Malaysia opened slightly higher on Tuesday, extending yesterday’s gains but mild profit-taking in selected heavyweights limited the gains, dealers said.

    At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.40 point better at 1,673.08, after opening 1.84 points higher at 1,674.49.

    Gainers outpaced decliners 148 to 64, while 193 counters were unchanged, 1,281 untraded and 26 others suspended.

    Turnover stood at 119.87 million shares worth RM45.70 million.

    In a research note today, RHB Retail Research maintained its bearish short-term outlook for the index, saying buying interest was still weak.

    “The index has not climbed above the recent high of the 1,675.50-point resistance mentioned since two weeks ago.

    “On a technical basis, as long as the bearishness of July 21’s ‘Tower Top’ pattern is not negated, we believe that the sellers still have control of the market,” it said.

    The FBM Emas Index rose 4.97 points to 11,741.69 and the FBMT 100 Index was up 3.61 points at 11,440.04.

    The FBM Emas Syariah Index increased 17.87 points to 12,373.70, the FBM 70 rose 7.46 points to 13,466.39 but the FBM Ace slipped 14.89 points to 5,469.39.

    Sector-wise, the Industrial Index gained 10.13 points to 3,160.24, the Plantation Index rose 6.63 points to 7,680.66 but the Finance Index was 11.95 points lower at 14,335.64.

    Among heavyweights, TNB, Maybank and IHH Healthcare were flat at RM14.58, RM7.98 and RM6.59 respectively, while Public Bank shed two sen to RM19.62.

    Of the actives, MBSB and PDZ Holdings advanced one sen each to 93 sen and 9.5 sen respectively, Konsortium Transnasional went up two sen to 18 sen while Vivocom Intl was flat at 29 sen.

    The physical price of gold as at 9.30am stood at RM167.34 per gramme, up 21 sen from RM167.13 at 5pm yesterday.

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  • Maybank debuts m-banking in Cambodia

    Maybank debuts m-banking in Cambodia

    Maybank has introduced its mobile banking app in Cambodia as part of efforts to strengthen its presence in the country.

    The app is the first in Cambodia to offer augmented reality and a QR code reader. A similar app was launched in Malaysia in 2014.

    Maybank group head of community financial services Datuk Lim Hong Tat, who launched the new app in Phnom Penh, said that internet banking has become a trend for many digitally savvy Cambodians who are increasingly comfortable transacting over this channel.

    Maybank’s online banking channel, namely M2U, which was introduced in Cambodia in 2012, is seeing robust growth with its registered user base increasing by over 50% within a year, and the volume of transactions has also risen by over 50% from 2014 to 2015,” said Lim.

    Lim said that with the launch of mobile banking app, customers in Cambodia will enjoy enhanced customer experience and greater speed when undertaking banking transactions over their mobile phones.

    “With the mobile banking app, Maybank customers can check their account balance, including all debit card purchases and perform simple transactions anytime, anywhere, alleviating the need for trips to our branches,” Lim explained.

    Other features offered by the app include the ability to send money to anyone with a mobile phone number – such transactions allow for cash to be withdrawn at any Maybank ATM without using an ATM card.

    The augmented reality branch locator tool allows customers to scan their surroundings and follow onscreen directions. It also detects nearby ATMs and promotions exclusive to the Maybank customer.

    The in-app QR code reader as well as loan calculator is available for public use, even if they are not yet a Maybank customer.

    Maybank Cambodia currently operates a network of 21 branches throughout the country complemented by 40 self-service terminals.

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  • Maybank Indonesia converts Indian operations to Intellectual Property branches

    Maybank Indonesia converts Indian operations to Intellectual Property branches

    Intellect Design Arena Limited, a specialist in applying true Digital Technologies across Banking, Financial Services & Insurance, announced that Bank Maybank Indonesia one of the largest banks in Indonesia has gone live with Intellect’s Integrated Treasury Management System(ITMS)-OneTreasury for their Indian operations.

    The centralized treasury management solution from Intellect’s Risk, Treasury and Markets (iRTM) division has enhanced operational efficiency across asset classes and enabled overseas branch to eliminate dependence on intensive manual operations. The entire process of solution deployment, User Acceptance Testing (UAT) and data migration was completed in a span of 7 months.

    The product implemented will play a key role in the bank’s treasury operations in India. This robust and functionally rich ITMS solution is compliant with the RBI regulations and integrates seamlessly with the Bank’s Core Banking System. The solution suite implemented will enable its Indian customers to trade across Fixed Income, Money Market and Foreign Exchange securities electronically and mitigate the risk associated with these trading activities. The flexible data upload facility aids decision makers to make insightful decisions on time by reducing manual intervention and minimizing errors. Bank’s need for a treasury solution which could be implemented in quick time frame for mobilizing operations was possible by Intellect’s Rapid Implementation Methodology which allows the bank to transfer and deliver a working system in a span of couple of months inclusive of go-live.

    Commenting on the successful go-live, Pravin Batra, CEO, India, Bank Maybank Indonesia said, “We are happy to have chosen the stable and functionally rich solution from Intellect to manage our treasury operations in India. This implementation has been smooth and has enabled us to meet India-specific regulatory needs in line with our business objectives.

    We are extremely delighted to see the outstanding team effort put forward by team Intellect during implementation. At Maybank we believe in providing superior customer experience, with a stable treasury system from Intellect we are confident of providing an unprecedented service and banking experience. We look forward to further strengthening the relationship
    between Maybank group and Intellect Design Arena going forward.”

    Venkatesh Srinivasan, Chief Executive Officer, Risk, Treasury & Capital Markets, Intellect Design Arena Limited said, “Bank Maybank Indonesia’s choice of Integrated Treasury Management System, Intellect OneTREASURY, to power their foreign branch operations is yet another testimony to the superior functionality of our solution and our leadership in the country’s treasury management space. The cost effective OneTREASURY solution meets the Indian regulatory requirements which will enable the bank to achieve its business objectives and improve its competitiveness in the international marketplace.”

    The advanced scalable OneTREASURY solution enhances productivity and enables centralized decision making for the bank. Customers of the Indian branch will now have access to a user-friendly treasury system which centralizes operations and provides operational efficiency through complete automation and seamless integration of treasury functions.

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  • Maybank Islamic secures four awards

    Maybank Islamic secures four awards

    Maybank Islamic Berhad has clinched the Leadership Issuer of the Year Award for a financial institution by the Asset Triple A Islamic Finance Awards 2015 for its RM1.5 billion Basel III-compliant subordinated sukuk murabahah, which was the single largest deal of its kind launched by an Islamic financial institution.

    The issuance was pursuant to a subordinated sukuk murabahah programme of up to RM10 billion in nominal value established in March 2014.

    The transaction received encouraging response from investors resulting in an oversubscription rate of 2.9 times, enabling Maybank Islamic to upsize the deal from the initial target of RM1 billion. Maybank Investment Bank Berhad acted as the Lead Arranger and Manager.

    “Proceeds raised from the subordinated sukuk murabahah are used to position Maybank Islamic for stronger growth domestically and regionally,” said Maybank Islamic Chief Executive Officer Muzaffar Hisham.

    He also thanked his team for their hard work in the sukuk issuance and The Asset for recognizing this effort.

    “The strong demand we received from investors for this programme is a testimony of Maybank Investment and Maybank Islamic’s leadership in the Islamic capital market space,” he said.

    The Sukuk programme also won an award in the category of Highly Commended Best Bank Capital Sukuk.

    In 2014, Maybank Islamic Berhad cemented its leadership position as it posted robust double-digit growth rates in financing, deposits and in asset size which stood at RM146.4 billion as at December 31 2014.

    Maybank Islamic also won 4 other awards. These were the Islamic Bank of The Year for Asia Pacific and Malaysia, Best Islamic Retail Bank, Best Islamic Trade Finance Bank. It also picked up 2 awards in collaboration with Maybank Investment Bank for Best Corporate Hybrid Sukuk and Best Local Currency Sukuk.

    Maybank Investment also won the following awards – Best Reit sukuk, Best bank capital sukuk-Highly commended, Best corporate sukuk, Best quasi-sovereign sukuk, and Best Islamic Deal.

    The awards ceremony took place here recently and Maybank Islamic was represented by its Deputy CEO, Nor Shahrizan Sulaiman and its Head of Corporate and Investment Banking Arshad Ismail.

    Maybank Islamic is currently the leading Islamic Bank in ASEAN and the largest Islamic Bank in Malaysia securing a 32.7 percent domestic financing market share and accounting for 43.8 percent of Maybank Group’s total domestic loans/financings.

  • Maybank to grow Singapore retail SME loan portfolio by 40% this year

    Maybank to grow Singapore retail SME loan portfolio by 40% this year

    Maybank is planning to “aggressively expand” its retail small and medium enterprises (RSME) financing across Singapore and the region, it said on Monday.

    The bank will be lending money to more businesses with revenues of up to $20 million, termed “retail SMEs” because they have simpler financing needs akin to those of retail or consumer banking.

    The move follows the implementation of its RSME model in Malaysia, which has seen a compounded annual growth rate (CAGR) of more than 30 per cent in loans since it was fully rolled out in 2013.

    Maybank Singapore said it expects to grow its total RSME loan portfolio by 40 per cent this year.

    In the two years since the RSME business was officially launched here, SME loans have increased by more than 50 per cent and deposits have risen by almost 25 per cent, according to Mr Choong Wai Hong, head of community financial services (CFS) for Maybank Singapore.

    “Our RSME business was a newly created segment which we identified as having great potential in 2011,” said Mr Lim Hong Tat, chief executive of Maybank Singapore.

    Mr Lim added that Maybank will be focusing on building its RSME portfolio regionally as the formation of the Asean Economic Community has resulted in countries placing increasing emphasis on smaller firms. “Asean economies are powered by the SME segment, which generates about 50 per cent of employment and some 40 per cent of GDP on average,” he added.

    “The SME industry itself is growing by between 8 and 28 per cent CAGR in these markets and presents an untapped potential for growth.”

    Maybank has introduced its RSME model in Indonesia, the Philippines, Cambodia, Laos and Brunei.

    The bank also has online capabilities to help small business owners improve their productivity in areas such as payroll, collections and payments. Maybank intends to devise more innovative financing solutions to help business owners manage uncertainties around their cash flow.

    “As the only bank with a presence in all 10 Asean countries, we are well-poised to help more small businesses capitalise on new opportunities to grow their business locally and access new markets in the region,” Mr Choong said.

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