Corp News

Maybank clinches Asiamoney Award

19 August 2009

3 min read

Maybank has been voted the Overall Best Domestic Private Bank in Malaysia in Asiamoney's recent Annual Private Banking Poll 2009 for the US$1-5 million Asset Under Management (AUM) category.


The annual Private Banking Poll 2009 conducted by Asiamoney is its fifth annual and largest private banking poll thus far. The poll was conducted to showcase the leaders in the private banking industry within Asia while at the same time, identify the best of breeds for the High Networth & Ultra-High Networth segment of individuals.


The winner was selected based on a poll of 1,440 High Networth & Ultra-High Networth Individuals who were required to complete a questionnaire which comprises two sections. The first section of the questionnaire aimed to collect qualitative information and data regarding the private banking industry in Asia as a whole, while Section 2 is where respondents nominate the private banks in Asia that they consider to be the best in 12 different areas, plus their overall choice of private bank.


Maybank Senior Executive Vice President & Head, Consumer Banking, Mr Lim Hong Tat, said that the award is a testimony of the value proposition which Maybank brings with its comprehensive and innovative private banking products and services.


"We are honoured to be recognized as the best in Malaysia by the people we serve and we dedicate this award to our customers for their relentless support of Maybank Wealth Management as well as to our employees."


Maybank was not only voted to be the Overall Best Domestic Private Bank in Malaysia by Asiamoney but was also recently awarded two prestigious awards by Euromoney in its Private Banking and Wealth Management Survey 2009. The two earlier awards were Best Private Banking Services Overall and Best Local Bank in providing private banking services in Malaysia.


"Attaining these prestigious awards from two leading publications in a short span signifies our leadership in the wealth management business and long term commitment in providing high value banking services to our clients," said Mr Lim.


Maybank began offering Wealth Management services in 2007. The assets under management and the number of high networth & ultra-high networth clients under management have both grown over 50% since 2007, current total financial assets is about RM46 billion."


Mr Lim also added that Maybank will continue to use its leadership and network to advance its Private Banking services. "This will be done by leveraging on our wide network and continuously introducing new and innovative products that can meet the demand of this segment."


Maybank has an established wide network 384 branches nationwide among them 23 special Private Banking centers and 39 business centers at major towns.