26  February 2013
Maybank bags 8 Euromoney Private Banking Awards

Maybank bags 8 Euromoney Private Banking Awards
- Opens 2 new Private Banking Centres

Maybank has bagged 8 out of nine awards related to private banking services in a poll undertaken by Euromoney recently.

The Euromoney Private Banking and Wealth Management Survey 2013 was conducted in over 60 countries and is considered as one of the most notable recognitions in the global Wealth Management industry.

Under the 10th annual survey, Maybank emerged with the Best Private Banking Services Overall; and Number 1 in Relationship Management; Privacy and Security and Range of Investment Products.

The Bank was also named the winner for various categories under Networth Specific Services which measure the amount of assets managed by banks. Maybank was ranked top for Super Affluent (with managed asset of between US$ 500,000 – US$1 mil); High Net Worth I (US$1 mil – US$10 mil); High Net Worth II (US$ 10 mil – US$ 30 mil); and Ultra High Net Worth (Greater than US$ 30 mil).

Maybank’s Head of High Networth & Affluent Banking, Choong Wai Hong, said the awards were a reaffirmation of the Bank’s leadership in the area of wealth management.

“Wealth Management is a growing portion of our Consumer Banking Business especially with the rise of the affluent customers segment in this region. In terms of financial assets, annual growth has been accelerating from 16% in 2010 to 22.7%, reaching RM62 billion as at December 2012 and we see this trend continuing to drive our business performance,” said Choong.

“We anticipate this growth rate to be sustained at 18 - 20% in 2013,” he added.

To tap into the growing demand for private banking services, Maybank recently opened its first private banking centre (PBC) in Seberang Perai to tap into the huge potential in the area and better serve its customers in the northern region.

Prior to the opening, customers from Seberang Perai had to travel to Penang Island avail themselves to Private Banking Services at two existing Maybank’s PBCs. Maybank also opened a new PBC in Seremban in January 2013.