Maybank
Malaysia's largest banking group and one of Southeast Asia's major universal banks.
Last updated August 31, 2026
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Overview
Maybank is the consumer-facing brand of Malayan Banking Berhad, a Malaysian universal banking group headquartered in Kuala Lumpur. Established in 1960, it developed from a domestic commercial bank into a regional financial-services group with activities spanning personal banking, business and corporate banking, investment banking, Islamic finance, asset management, insurance, takaful, wealth management, payments and treasury services. Its principal operating markets are Malaysia, Singapore and Indonesia, while its wider network reaches the other ASEAN economies and selected Asian, European and North American financial centres. The bank was founded by Khoo Teck Puat and Oei Tjong Ie and began operations in Kuala Lumpur in September 1960. It expanded early beyond Malaysia, opening a branch in Brunei in its first year and establishing operations in Singapore. Its 1962 listing on the Kuala Lumpur Stock Exchange gave the institution access to public capital and supported subsequent expansion. During the 1970s and 1980s, Maybank broadened into merchant banking, insurance and overseas banking, opening or developing operations in markets including Hong Kong, London, New York and Labuan. From the 1990s onward, Maybank pursued a more explicit Southeast Asian expansion strategy. It entered Indonesia through a joint venture, established a Philippine presence through the acquisition of a controlling interest in PNB-Republic Bank, and expanded into Indochina and other regional markets. Acquisitions and combinations involving Pacific Bank, Phileo Allied Bank, Bank Internasional Indonesia, Vietnam's An Binh Bank, Pakistan's MCB Bank and Kim Eng Holdings increased its capabilities in retail banking, corporate finance, securities and investment banking. The group also consolidated its insurance and takaful activities under the Etiqa brand. Islamic finance became a major strategic pillar. Maybank Islamic Berhad was established in 2008, and the group developed Shariah-compliant retail, commercial, investment and treasury offerings. Maybank Islamic is described in reference material as the largest Islamic bank in Malaysia and ASEAN by assets. Maybank's investment-banking arm, originally Aseambankers Malaysia, was renamed Maybank Investment Bank in 2009, aligning the business more closely with the group brand. The brand serves retail customers through deposit accounts, cards, consumer financing, mortgages, payments and digital banking, notably the Maybank2u platform. It serves businesses and institutions through cash management, trade finance, lending, foreign exchange, capital markets, advisory and custody services. Insurance and takaful products are distributed and operated principally through Etiqa, while Maybank Investment Bank provides investment-banking and capital-markets services. The group has also used partnerships and acquisitions to build regional securities and wealth-management capabilities. Maybank is widely positioned as a full-service ASEAN financial institution with a broad physical and digital distribution network. Reference material describes a network covering all ten ASEAN countries, approximately 2,600 retail banking branches worldwide and more than 43,000 employees, although these figures vary by reporting period. Brand Finance has repeatedly ranked Maybank as Malaysia's most valuable banking brand and among the leading bank brands in ASEAN. The group remains active under the Maybank name, with Dato' Khairussaleh Ramli appointed President and Chief Executive Officer of Maybank Group in May 2022.
History
Malayan Banking Berhad was incorporated on 31 May 1960 and began banking operations in Kuala Lumpur on 12 September of the same year. Its founders were Khoo Teck Puat and Oei Tjong Ie. The young institution expanded rapidly outside Malaysia: it opened a Brunei branch in November 1960 and developed a presence in Singapore. In 1962, Maybank was listed on the Kuala Lumpur Stock Exchange, creating a public-market foundation for its later growth. The group diversified during the 1970s and 1980s. It established Aseambankers Malaysia in 1973 as an investment-banking and merchant-banking arm, entered general insurance through Mayban-Phoenix Assurance in 1977, and opened further international branches, including Hong Kong, London and New York. Its Labuan operations began in 1990. During the early 1990s, Maybank added securities, venture-capital, leasing and hire-purchase businesses and established a representative office in Beijing. Regional expansion accelerated in the mid-1990s. Maybank entered Indonesia through a joint venture with PT Bank Nusa Nasional, opened in Cambodia and Papua New Guinea, and established operations in Vietnam. In 1997, it acquired a 60 percent interest in PNB-Republic Bank of the Philippines, which was renamed Maybank Philippines. The group continued to consolidate its Malaysian banking platform, acquiring Pacific Bank and Phileo Allied Bank and completing their merger in 2001. Insurance became more prominent through the 2001 formation of Mayban Fortis Holdings with Fortis International. Maybank grouped its insurance businesses under that structure, later acquired Malaysia National Insurance and Takaful Nasional, and launched the Etiqa brand in 2007 for its conventional insurance and takaful operations. Mayban Takaful, established in 2002, represented an early effort by a Malaysian conventional bank to own a takaful company. The late 2000s marked a major transformation. Maybank acquired interests in An Binh Bank in Vietnam, MCB Bank in Pakistan and Bank Internasional Indonesia in 2008. It also established Maybank Islamic Berhad, giving Islamic finance a dedicated group platform. In 2009, Aseambankers was renamed Maybank Investment Bank, and Maybank completed a RM6 billion rights issue described in the reference material as the largest in Malaysian corporate history. The group introduced a dividend reinvestment plan in 2010 and acquired Kim Eng Holdings in 2011, strengthening its securities and investment-banking activities. Maybank's cross-border strategy was accompanied by selective retrenchment. In 2015, it sold its Papua New Guinea banking and property subsidiaries. The group has nevertheless retained a broad ASEAN orientation, with Malaysia, Singapore and Indonesia identified as its principal home markets and operations extending across the wider region. Its digital banking platform, Maybank2u, complements a large branch network, while Maybank Islamic, Maybank Investment Bank and Etiqa provide specialist pillars alongside the core commercial bank. Brand Finance recognition has reinforced Maybank's position as Malaysia's leading banking brand. The bank was identified as Malaysia's most valuable bank brand for several consecutive years in the 2010s and appeared in the 2019 Global 500 brand ranking. Reference material also records Maybank Islamic's recognition as Global Islamic Bank of the Year in 2020. The institution remains an active listed banking group, with Khairussaleh Ramli serving as group president and chief executive from May 2022.
- 2015
Papua New Guinea disposal
[1]Maybank sold its Papua New Guinea banking and property subsidiaries to Kina Ventures.
- 2012
ASEAN network completed
[1]Maybank opened its first Laos branch, completing its stated presence across all ten ASEAN countries.
- 2011
Kim Eng acquisition
[1]Maybank acquired Kim Eng Holdings, adding a significant regional securities and investment-banking platform.
- 2009
Investment bank rebranded and rights issue completed
[1]Aseambankers became Maybank Investment Bank, while Maybank completed a RM6 billion rights issue.
- 2008
Maybank Islamic established
[1]Maybank created Maybank Islamic Berhad as its dedicated Islamic-banking subsidiary and expanded through investments in Vietnam, Pakistan and Indonesia.
- 2007
Etiqa brand launched
[1]The group introduced Etiqa as the brand for its conventional insurance and takaful businesses.
- 1997
Entry into the Philippines
[1]Maybank acquired a controlling interest in PNB-Republic Bank of the Philippines and renamed it Maybank Philippines.
- 1973
Investment-banking arm established
[1]The group formed Aseambankers Malaysia, which later became Maybank Investment Bank.
- 1962
Stock-market listing
[1]Maybank was listed on the Kuala Lumpur Stock Exchange.
- 1960
Incorporation and launch
[1]Malayan Banking Berhad was incorporated on 31 May and began operations in Kuala Lumpur on 12 September. It also established Malayan Finance Corporation and opened its first overseas branch in Brunei.
Products and positioning
A leading ASEAN universal bank combining large-scale Malaysian retail banking with regional corporate, investment, Islamic-finance, insurance and digital-banking capabilities.
Digital banking
Maybank2u
Maybank2u is the group's digital-banking platform for retail and selected business customers. It supports account access, payments, transfers, bill settlement and other everyday banking functions, extending Maybank's distribution beyond its branch network. The platform is a central part of the brand's consumer proposition in its home markets.
Islamic banking · 2008
Maybank Islamic
Maybank Islamic Berhad is the group's dedicated Shariah-compliant banking subsidiary. Its activities include consumer, business, corporate, investment and treasury products structured according to Islamic-finance principles. It is positioned as one of the largest Islamic banks in Malaysia and ASEAN by assets.
Investment banking · 1973
Maybank Investment Bank
Maybank Investment Bank is the group's investment-banking and capital-markets platform. It evolved from Aseambankers Malaysia and provides services including corporate finance, equity and debt capital markets, mergers and acquisitions advice, securities research, brokerage and institutional markets coverage.
Insurance and takaful · 2007
Etiqa
Etiqa is the group's insurance and takaful brand. It brings together conventional insurance and Shariah-compliant protection and savings products, distributed through bank channels and other customer-facing networks. Its creation followed the consolidation of Maybank's insurance and takaful activities under Mayban Fortis Holdings.
Brand decisions
2015
Exit Papua New Guinea operationsStrategyBackground
Maybank continued to refine its geographic portfolio after building a broad ASEAN network.
Action taken
Maybank sold Maybank PNG Limited and Mayban Property PNG Limited to Kina Ventures Limited.
Aftermath
The disposal removed the Papua New Guinea businesses while the group retained its broader Southeast Asian focus.
2011
Acquire Kim Eng HoldingsM&ABackground
Maybank aimed to strengthen its securities, brokerage and regional investment-banking capabilities.
Action taken
The group acquired Kim Eng Holdings Limited and made it a subsidiary.
Aftermath
The transaction expanded Maybank's regional equities and securities platform.
2009
Rebrand Aseambankers as Maybank Investment BankStrategyBackground
Maybank sought a more unified group identity across its banking and capital-markets businesses.
Action taken
Aseambankers Malaysia Berhad was renamed Maybank Investment Bank.
Aftermath
The investment-banking arm operated more visibly under the Maybank name.
2008
Establish Maybank Islamic as a dedicated group subsidiaryStrategyBackground
Maybank had developed Islamic-finance capabilities and sought to make Shariah-compliant banking a major regional business line.
Action taken
The group established Maybank Islamic Berhad to provide dedicated Islamic retail, commercial, investment and treasury services.
Aftermath
Maybank Islamic became a core group franchise and was subsequently described as one of the largest Islamic banks in Malaysia and ASEAN by assets.
Recent events
- 2022
Maybank appoints Khairussaleh Ramli as group president and chief executive[1]
Leadership change
Khairussaleh Ramli took over as President and Chief Executive Officer of Maybank Group on 1 May 2022.
- 2022
Maybank appoints Khairussaleh Ramli as group chief executive[3]
Leadership change
Khairussaleh Ramli became Maybank Group President and Chief Executive Officer, succeeding Datuk Abdul Farid Alias.
- 2015
Maybank exits Papua New Guinea[1]
M&A
Maybank sold Maybank PNG Limited and Mayban Property PNG Limited to Kina Ventures Limited.
- 2012
Maybank completes regional footprint across all ten ASEAN countries[1]
Other
The opening of Maybank's first Laos branch completed the group's stated operating presence in all ten ASEAN countries.
- 2011
Maybank completes acquisition of Kim Eng Holdings[1]
M&A
The group acquired Singapore-based Kim Eng Holdings, strengthening its securities, brokerage, research and investment-banking capabilities across Asia.
- 2008
Maybank expands its regional banking platform through Bank Internasional Indonesia[1]
M&A
Maybank completed the acquisition of a controlling interest in Bank Internasional Indonesia, creating a major Indonesian banking platform that was later branded Maybank Indonesia.
Sources8 sources
- 1Maybanken.wikipedia.org
- 2Maybank official websitemaybank.com
- 3Maybank appoints Khairussaleh Ramli as group chief executivemaybank.com
- 4Maybank discontinues Fitch’s rating servicesthestar.com.my
- 5Maybank launches instant online account opening for SMEsthestar.com.my
- 6Maybank launches instant online business account opening for SMEsmalaymail.com
- 7Maybank launches ringgit account for Singapore corporate clientssbr.com.sg
- 8Maybank sues Dolomite over RM152m outstanding paymenttheedgemalaysia.com
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