Building on from its 2015 milestone achievements, Maybank has outlined its 2020 strategic objectives aimed at being ASEAN’s leading financial services provider. This is guided by its new vision of “Advancing Asia’s Ambitions With You”.
Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor said, “Maybank 2020 recognises the significant potential within the ASEAN region arising from its burgeoning middle class, young population, growing SME segments as well as rising intra- and inter-regional trade as a result of the formation of the ASEAN Economic Community,” he explained.
“Given Maybank’s acknowledged brand recognition across the region due to its operating presence, it behoves upon us to leverage our diversity and organisational capabilities to lead in our chosen business targets.”
Meanwhile, the Group President & CEO, Datuk Abdul Farid Alias has laid out five broad strategic objectives for the Group, which are to be:
1. The Top ASEAN Community Bank
Led by Group Community Financial Services, we aim to be a leading retail & commercial financial services provider in ASEAN, leveraging on our regional presence, banking expertise and growth opportunities in Asean.
2. The Leading ASEAN Wholesale Bank Linking Asia
Led by Group Global Banking, we aspire to be a trusted ASEAN financial partner that links Asia by leveraging our ASEAN leadership capabilities to deliver client solutions across Asia.
3. The Leading ASEAN Insurer
Led by Group Insurance & Takaful, we target to be a leading ASEAN insurer by leveraging synergies between Maybank’s regional banking footprint and Etiqa’s expertise in Takaful & bancassurance.
4. The Global Leader in Islamic Finance
Led by Group Islamic Banking, we plan to continue delivering innovative client- centric universal financial solutions, building on our global leadership in Islamic Finance.
5. Digital Bank of Choice
We aspire to be a digital bank of choice by putting our customers’ preference first and transforming to deliver next-generation customer experience.
He added, “Today, everyone is talking about digitisation and the banking industry is witnessing a breed of digital players encroaching into the traditional banking business. Our customers are also changing the way they interact with us, as they are even more digitally savvy. How aptly, and quickly we respond and adapt will determine the fate of the Maybank brand in the future.”
Datuk Farid said that Maybank2020 will be complemented by ongoing efforts to enhance productivity, manage costs effectively and growing profitably in markets that the Group is present to ensure that its business model remains competitive.
He added that the year 2016 has already seen the Group strengthen its footprint in the region with the opening of a second branch in Laos and a new 10-storey office tower in Cambodia.
“We will soon be opening a new branch in Shenzhen – our fifth in Greater China – as we seek to tap into the ASEAN/Greater China trade flows,” he said. “We are confident that our regional reach positions us well as a leading ASEAN financial institution with the unique capability to benefit from Asia’s trade and investment links as well as support its capital raising and banking requirements.”