Maybank won two prestigious awards, the Best Retail Bank Malaysia Country Award 2014 and the Best Automobile Lending Business Award for Asia 2014 by The Asian Banker, a provider of strategic business intelligence for the financial services community in Asia which also published The Asian Banker Journal. The two awards were presented to Datuk Lim Hong Tat, Head, Group Community Financial Services and CEO Maybank Singapore during the International Excellence in Retail Financial Services Awards 2014 ceremony held in Sydney on April 3, 2014.
The Best Retail Bank Malaysia Award is a hattrick for Maybank as it is the third consecutive time since 2012 Bank has won such Award. The Award acknowledges the best retail player in the Malaysia for consistently excelling in all key performance metric measures. For Automobile Lending, it is the third time since 2008 and 2013 that the Bank won the Award which acknowledges the excellence for automobile lending products and processes launched and implemented during the year in Asia.
The winners for the Awards have to pass a transparent and rigorous assessment process. They are selected from over 400 submissions from retail financial institutions in Asia-Pacific, Central Asia, Middle East and Africa where the selected outstanding institution in retail banking need to demonstrate a long term sustainable franchise based on strong business proposition that lead to a consistent and profitable performance followed by recommendations to an international panel of judges who are highly respected experts in the financial services industry led by the Chairman, Philippe Paillart, the former Vice-Chairman and CEO of DBS Bank.
According to The Asian Banker, the Awards Programme provides the undisputed benchmark of the performance of the best retail banks in this increasingly fierce marketplace.
Commenting on the award, Datuk Lim Hong Tat, Head Group Community Financial Services and CEO Maybank Singapore who was also the first Malaysian recipient of the Retail Banker of the Year 2014 said "The distinction of achieving a hattrick being the Best Retail Bank in Malaysia (2012 - 2014) and the Most Improved Bank (2011) since the start of our transformation journey in 2011 is a testament that we are making remarkable and noticeable progress towards our 2015 aspiration to be the undisputed No. 1 Retail Financial Services provider in Malaysia. It is also a tribute to all Maybankers especially in Community Financial Services for working together as a team and demonstrated their commitment and shared vision to ensure that we are on track to attain our goals in our journey during the past 3 years".
Hamirullah Boorhan, Head Community Financial Services Malaysia added that the Award given to Auto Finance was the third time since 2008 and 2013. He said "This is the second consecutive year since 2013 that Maybank has achieved the Best in Automobile Lending 2014 Award beating all the banks in the Asia doing the Auto Finance business. Maybank is the fastest growing Auto Finance player in Malaysia with 13% loan growth that is doubled the industry and is able to manage its GIL rate at a historical low of 0.45% which is the lowest in the industry as well as maintaining profitability which is also the highest in the industry. These significant accomplishments are the testimonies and results of the strong teamwork and collaborations among Maybankers especially the Auto team with the dealers, distributors and customers and in line with our aspiration to be the market leader in Auto lending in Malaysia within the next 5 years. Together with the combined Auto Finance franchise in Singapore, Indonesia and The Philippines, Maybank is the largest provider of automobile financing in the ASEAN Region with loan base exceeding RM60Billion."