Maybank has won two awards, the prestigious Country Award for ‘Best Retail Bank in Malaysia’ and the Products and Processes Award for ‘Best Deposit and Liability Business’ in The Asian Banker’s International Excellence in Retail Financial Services Awards 2011 held in Kuala Lumpur recently.
Over 120 banks and financial institutions from 22 countries across the Asia Pacific, Gulf region and Central Asia were evaluated as part of the Awards programme by The Asian Banker. Selection of winners involved a stringent three-month evaluation process based on a balanced and transparent scorecard. The survey was refereed by prominent global bankers, consultants and academics and is considered the most prestigious, comprehensive and anticipated awards programme that recognises the pursuit of excellence amongst retail financial institutions in the world.
“The awards are recognition of Maybank’s transformation programmes and an affirmation that the changes we have initiated are delivering the results in enhancing customer experience and humanising our financial services. We dedicate the awards to our customers for their support and embracing the changes we have implemented in our product offerings as well as in our services and facilities at our branch or via our electronic channels such as our internet banking,” said Lim Hong Tat, Deputy President and Head of Community Financial Services Maybank.
For deposits, the Asian Banker noted that Maybank Malaysia has achieved a market winning deposit and liability business with outstanding customer reach-out and an innovative focus on customer needs. Maybank Malaysia successfully reached out to its target segment of young professionals with accessible premier options, rewards and benefits and has managed to keep its lead in low-cost deposits, with over 22.9% of market share.
According to Lim, the Bank has undertaken several savings campaigns to also offered rewards to customers for their support. “Last year we offered total prize rewards of RM2 million for our savings campaign in conjunction with our 50th anniversary celebration. We saw retail deposit growth increase by 7% during the 12 months campaign compared to the previous year”
“We have seen overall retail loan growth of 15% in branches that have implemented our enhanced retail banking model. This model goes beyond using the traditional sales approach to leverage on electronic channels including the new media, as well as providing advisory services to assist customers make correct choices that meet their needs and lifestyle,” said Lim.