Maybank (Malaysia) wins Best Improved Retail Bank in Asia for the year 2009
- Maybank wins Best Improved Retail Bank in Asia for the year 2009
- Over 120 banks and financial institutions from 23 countries across the Asia Pacific, Gulf and Central Asian regions were evaluated as part of the Excellence in Retail Financial Services Programme.
Singapore, 19 March 2010 - Maybank has been named the Best Improved Retail Bank in Asia for 2009 in the ninth Asian Banker Excellence in Retail Financial Services Awards Programme. The bank received the award at The Asian Banker Excellence in Retail Financial Services Awards 2010 ceremony, held in conjunction with the region's foremost retail banking event, the Excellence in Retail Financial Services Convention. The ceremony was held at the JW Marriot in Shanghai on the evening of March 18, 2010.
About 120 senior bankers from award winning banks in 22 countries across the Asia Pacific, the Gulf and Central Asian regions attended the formal gala dinner, the industry's celebration of the region's best retail bankers that recognizes their efforts in bringing superior products and services to their customers.
The awards programme, administered by The Asian Banker and refereed by prominent global bankers, consultants and academics, is the most prestigious of its kind.
A stringent three month-long evaluation process, based on a balanced and transparent scorecard, determined the winners and the position of the different retail banks in the region. A full list of winners is attached.
Maybank wins Best Improved Retail Bank in Asia for the year 2009
Maybank (Malaysia) has won the Best Improved Retail Bank in Asia for the year 2009. The award is given to a bank that has not yet attained the number one status in the country but has significantly improved its operations and retail banking franchise in the year under review.
After a difficult year, Maybank streamlined its operations and aligned product innovation with customer needs. The bank further enhanced the already successful automobile lending programme, raking up an impressive growth of 12%, outpacing the industry growth of 4%. Maybank's new product offering HP Ezy Product enabled the bank to become the fastest growing auto finance player in the country.
The bank also launched a successful deposit campaign for four months in 2009. The campaign's success is more notable given the highly competitive environment during that time. The 97% achievement against target deposit growth saw the opening of 97,000 new accounts and RM 386 million in new deposits.
"Maybank has shown that aligning products with properly identified client needs is not only possible but necessary in order for a bank to grow and differentiate itself from its competitors. Its effective use of alternative channels, especially their internet portal, has a remarkable uptake from the market," said Mr. Chris Kapfer, head of the Excellence in Retail Financial Services Programme at The Asian Banker.
Over 120 banks and financial institutions from 23 countries across the Asia Pacific, Gulf and Central Asian regions were evaluated as part of the Excellence in Retail Financial Services Programme
"This year over 120 banks and financial institutions in 23 countries across the region were evaluated as part of the Excellence in Retail Financial Services Programme. It has become the single most prestigious, comprehensive and anticipated awards programme that recognises the pursuit of excellence amongst retail financial institutions available almost anywhere in the world today," said Philippe Paillart, Chairman of The Asian Banker Excellence in Retail Financial Services Programme.
The transparent award evaluation process uses a balanced scorecard approach and a comprehensive methodology to evaluate the strength of individual banks' retail banking businesses that involves extensive research and probing interviews, and taps on the combined experience of a team of experienced researchers.
Philippe Paillart, formerly vice chairman and CEO of DBS Bank and a pioneer in the retail banking industry in the Asia Pacific region, added: "The Asian Banker Excellence Programme was instituted in 2001 on the premise that an outstanding player in the retail financial services industry should build business franchises that are sustainable, competitive and profitable over a period of time."
About The Asian Banker
The Asian Banker is the foremost provider of strategic business intelligence on the financial services industry in the Asia Pacific and Middle East regions. The organization has offices in Singapore, Kuala Lumpur, Beijing and Dubai as well as representatives in Shanghai, London and New York. With a business that revolves around publications, research services, training and forums, the organization is highly regarded in the financial services community for its incisive and independent commentaries on developments in the industry. The company's website is http://www.theasianbanker.com