Corporates

Financials

Maybank Group financials

Maybank financials

Chronology

• 1960 - The bank was formed and founded by Malaysian business tycoon Khoo Teck Puat with a few partners in Kuala Lumpur. The bank grew rapidly to more than 150 branches within 3 years. In 1963, the bank purchased Goodwood Park Hotel, Singapore for $4.8 million.
• 1964 - The company established Mayban Trustees Bhd (MTB)
• 1965 - Khoo Teck Puat was ousted from Maybank by the Government of Malaysia under the then Deputy Prime Minister Tun Abdul Razak's administration on the pretext of pumping the bank's money into his own private firm in Singapore.
• 1973 - Forming its own investment banking subsidiary, Aseambankers Malaysia Berhad (Asian & Euro-American Merchant Banking (Malaysia) Berhad)
• 1975 - Aseambankers establishment of a joint venture, Kota Discount Berhad, in partnership with a group of Kuala Lumpur-based investors
• 1986 - Acquired a majority stake in Kota's which renamed to Mayban Discount Berhad in 1989
• 1987 - Mayban Securities Sdn Bhd set up to provide stockbroking and other investment services
• 1990 - The new Malaysian Offshore Banking Act passed and the bank set up new operations in the Federal Territory of Labuan
• 1990 - Mayban Unit Trust Berhad has been added, a subsidiary focused on the management of unit trust funds
• 1992 - Maybank launching Maybank General Assurance Bhd
• 1993 - Acquisition of Safety Life & General insurance Sdn Bhd then relaunched as Mayban Life Assurance
• 1994 - Set up a subsidiary in Papua New Guinea, which opened 2 branch offices in Port Moresby and Lae
• 1996 - Entered a joint-venture with PT Bank Nusa Internasional (Indonesia), bringing the Maybank name to the Indonesian market
• 1997 - Joined forces with Philippine National Bank, acquiring 60 percent stake of the former Republic Savings Bank
• 1997 - Renamed its new subsidiary Maybank Philippines Inc. (MPI) which later gained full control of the enterprise
• 1997 - Acquired through Philmay Holding Inc. and establishment of the real estate and property development vehicle Philmay Property Inc.
• 2000 - Maybank Philippines Inc. (MPI) network boasted nearly 60 branches across the Philippines
• 2000 - Merger completed with the Pacific Bank and the PhileoAllied Bank after Malaysian Government directive.
• 2000 - the corporate cracked the world top 120 banks for the first time
• 2001 - Opened a branch office in Shanghai after gaining a licence in China
• 2001 - Applied for a license to begin operations in Bahrain
• 2002 - Launched of Mayban Takaful Bhd begin promoting Takaful insurance products
• 2004 - Failed in a bid to take over Bank Permata of Indonesia
• 2005 - Finally received approval to launch a takeover bid, through its Aseambankers subsidiary, of BinaFikir Sdn Bhd. However, this deal had fallen through by the end of 2005.
• 2005 - Acquired, via the Insurance Company Mayban Fortis, MNI Insurance and Takaful Nasional
• 2007 (May) - Maybank courted controversy when it set out a guideline via an internal circular requiring law firms that intend to deal with the bank to have at least three partners, where one must be a Bumiputra. The guideline was accused of being discriminatory. However, although it isn't an official Government policy, it's a norm in Malaysian banking and legal practice, and is tacitly approved by the Malaysian Government. Owing to the concrete proof from the internal circular that such a practice exists, the Malaysian Cabinet of Ministers had to order the bank to cease such practices, although there's still no stopping the bank (and all other Malaysian banks) to continue with such practices unofficially.
• 2007 (Nov.) - MNI Insurance and Takaful Nasional were rebranded as Etiqa Insurance & Etiqa Takaful respectively. Subsequently, Mayban Takaful transferred all its business, assets and liabilities to Etiqa Takaful.
• 2008 (May) - Dato' Sri Abdul Wahid Omar, is officially appointed as President & CEO of Maybank Group.

Principal subsidiaries