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History, Innovation & Leadership

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Maybank’s journey over the years has been marked by one milestone after another. From its incorporation in 1960 and throughout its 51 years of operations, the Group has demonstrated its commitment to excellence and innovation as it charted its course to becoming Malaysia’s regional financial services leader. As it moves into its sixth decade, the Group is committed to blazing new heights as it seeks to ensure a better future for all.

1960
  • Maybank is incorporated on May 31 and begins operations at Mansion House in High Street in the heart of Kuala Lumpur on September 12.
  • Malayan Finance Corporation (later Mayban Finance) is established, the first wholly bank- owned finance company to be set up at a time when the Malayan economy was dependent on rubber and tin.
  • On November 28, Maybank’s first overseas branch opens in Brunei Darussalam. Two more branches were later opened in Brunei — in Seria in 1983 and Gadong in 1999.
  • Branches are opened in Singapore, with the first on South Bridge Road in December.
1962
  • The Hong Kong branch opens on February 12, followed by a branch in London on September 12.
  • On February 17, Maybank lists on the Kuala Lumpur Stock Exchange.
1973
  • In September, Maybank sets up its investment banking arm — Asian and Euro-American Merchant Bankers Bhd (Aseambankers). The bank is renamed Maybank Investment Bank in 2009.
1974
  • First to introduce a rural credit scheme in 1974.   
  • Maybank introduces the first Rural Credit Scheme in Malaysia with 10 project field officers. The scheme aimed to bring the Bank and its services to the people in rural sectors, and to play its role in financing viable small-scale industries and businesses as well as Bumiputeras and Bumiputera concerns in line with the government’s objectives to correct the economic imbalance among the populace.   
1976
  • First to introduce mobile bus banking services in 1976.   
  • As part of the Bank’s continuing policy to provide financial services to rural communities, the first mobile bank unit is set up in Johor.
1977
  • In June, Mayban-Phoenix Assurance Bhd — with the Bank holding 70% equity — is incorporated offering underwriting general insurance risks with an authorised capital of up to $10 million. The remaining 30% is held by British Phoenix Assurance. On October 10, 1986, Mayban-Phoenix Assurance is renamed Mayban Assurance.   
1978
  • Pioneer in computerisation of banking operations in Malaysia in 1978.
  • In October, the Kuala Lumpur main branch is computerised, making Maybank the first Malaysian bank to computerise its savings and current accounts services.
1980
  • In December, Maybank launches its first credit card — the Maybank Visa Classic card.
1981
  • First Malaysian bank to set up ATMs in Malaysia in 1981.
  • In September, Maybank becomes the first Malaysian bank to set up an ATM at its Ampang branch in Kuala Lumpur.
1983
  • Prime Minister Datuk Seri Dr Mahathir Mohamad lays the foundation stone of Menara Maybank — Maybank’s headquarters — in September.
1984
  • Maybank’s New York branch opens in September.
1986
  • Maybank introduces the nation’s first integrated and largest ATM network — Automated Banking Consortium or ABC linking Kwong Yik Bank, Mayban Finance and Maybank in Malaysia and Singapore, a total of 296 ATMs. 
  • Maybank launches the first joint pilot EFTPOS service with a number of participating petrol stations.  
1988
  • In January, Balai Seni Maybank and the Maybank Numismatic Museum are officially opened by Tan Sri Dato’ Jaffar Hussein, Governor of Bank Negara Malaysia. This is followed by the official opening of Menara Maybank in June 1988 by the Prime Minister.
  • Maybank becomes the first financial institution to introduce payment for new IPOs through ATMs.
1990
  • Maybank sets up an offshore bank in Labuan International Offshore Financial Centre in October.
1992
  • In January, Mayban Securities is formed.
1992
  • In September, Maybank Autophone is launched, making it the first local bank in the country to offer customers the convenience of conducting their banking transactions and payment of selected utility bills through a computerised telephone service.   
1993
  • Mayban Ventures begins operations in February. In September, Aseam Leasing and Credit Bhd is incorporated, offering leasing and hire purchase activities.

1994
  • Maybank (PNG) Ltd opens for business in Port Moresby in October, with a second branch opened in Lae in 1997.   
  • In November, Prime Minister Datuk Seri Dr Mahathir Mohamad officially launches PT Maybank Nusa Internasional, a joint venture with PT Bank Nusa Internasional of Indonesia.
     
  • A branch is opened in Phnom Penh, Cambodia, and two representative offices are opened in Beijing and Tashkent, capital of Uzbekistan in Central Asia.
1996
  • In March, the Hanoi branch and a representative office in Ho Chi Minh City are officially opened. In October 2005 Ho Chi Minh City becomes an official branch making it the second branch in Vietnam.   
  • Pioneer in bancassurance in South East Asia in March 1996.
  • In March, Deputy Finance Minister Wong See Wah launches Maybank Bankassurans, the first such service in Southeast Asia offering insurance products to customers at bank branches.
  • Maybank sells Kwong Yik Bank to Rashid Hussain Berhad in December.
1997
  • First to offer the convenience of ticket-less travel for domestic flights on MAS through MAS Electronic Ticketing (MASET) in 1997.   
  • In July, Maybank becomes the first bank to launch the Malaysia Airlines Electronic Ticketing or MASET, marking the birth of ticketless air travel via payment at any Maybank Group ATM.   
  • Maybank acquires a 60% stake in PNB-Republic Bank of the Philippines, and renames it Maybank Philippines Inc.
2000
  • First to introduce View & Pay service in Malaysia using credit card and direct debit via Internet with Mesiniaga Bhd in 2000.   
  • First in Malaysia and South East Asia to offer common ATM and over-the-counter services in Malaysia, Singapore, Brunei and the Philippines in 2000.   
  • First Malaysian bank to open a branch in Shanghai, People’s Republic of China in 2000.   
  • Pioneer in Internet Banking services in Malaysia in 2000.
  • Maybank launches Maybank2u.com in June, making it the first bank in Malaysia to introduce Internet banking services.
  • Maybank acquires Pacific Bank Bhd and Phileo Allied Bank Bhd. In 2001, they were merged into Maybank’s operations.
2001
  • Maybank and Fortis International NV, one of the largest providers of integrated financial services in Europe, collaborate to set up Mayban Fortis Holdings Bhd. The partnership, with Maybank holding a 70% stake and Fortis 30%, sees the grouping of all Maybank’s insurance companies under Mayban Fortis Holdings Bhd (now Mayban Ageas Holdings Bhd).   
  • In July, Maybank Tower, the new headquarters of Maybank Singapore, is officially opened by the republic’s Deputy Prime Minister Brig-Gen (Rtd) Lee Hsien Loong.   
  • In November, Deputy Prime Minister Datuk Seri Abdullah Ahmad Badawi launches Dataran Maybank in Kuala Lumpur. Dataran Maybank houses the head offices of Mayban Finance, Mayban General Assurance, Mayban Fortis Holdings, Mayban Life Assurance, Mayban Life International, Mayban Securities and Mayban Futures.
2002
  • In July, Mayban Takaful commences operations, making it the first Takaful company owned by a conventional bank in Malaysia. Its products are sold via Maybank and Mayban Finance branches under the bancassurance model.
2003
  • First to launch Malaysia’s Internet banking kiosk, Maybank2u.com Internet Kiosk in 2003.   
  • Maybank officially launches its Bahrain branch, the first Malaysian bank to operate there.
2004
  • First bank at a petrol station in 2004.   
  • In February, Maybank is the first local bank to introduce e-Dividend via Maybank2e, a comprehensive dividend payment system that streamlines dividend processing and payment through the Bank’s enterprise cash management system, Maybank2e.net. 
  • In October, the entire operations and business of Mayban Finance Bhd is vested into Maybank.
2005
  • The acquisition of Malaysia National Insurance Bhd, Malaysia’s largest national insurer and its subsidiary, Takaful Nasional Sdn Bhd, Malaysia’s premier Takaful provider, catapults Mayban Fortis to the position of second largest insurer in Malaysia. The merger culminates in the rebranding of the entire Insurance and Takaful group which takes the new brand name of Etiqa in November 2007.

2006
  • First to offer online mobile banking via SMS followed by M2U Mobile Services using GPRS/3G phones in 2006.   
  • In August, Maybank signs a business transfer agreement with American Express to be the sole issuer and manager of the American Express charge card and merchant acquiring businesses in Malaysia.
  • Maybank becomes the first Malaysian bank to provide its Region Link services for over-the-counter-cash withdrawal services in its offices in Malaysia, Singapore, Brunei Darussalam and the Philippines.
  • Maybank took on the title sponsorship of the Maybank Malaysian Golf Open for a five year period. This sponsorship was later renewed for another five years beginning 2011.   
2007
  • First to introduce the structured commodity financing solution for business customers in 2007.   
  • First to launch complete mobile money service in Malaysia with Maxis in 2007.   
  • Maybank Group launches Etiqa, the new brand name for its conventional and takaful businesses under Mayban Fortis Holdings.
2008
  • First to launch Malaysia’s dual purpose Bankcard in partnership with Visa International in 2008.   
  • Malaysia’s Most Valuable Brand in 2008 & 2007.   
  • Maybank establishes its Islamic banking subsidiary, Maybank Islamic Berhad, in January.   
  • Maybank expands its international network with strategic acquisitions of stakes in Bank Internasional Indonesia, An Binh Bank of Vietnam and MCB Bank Ltd of Pakistan.
2009
  • First to launch online facility for making additional investments in ASB units with PNB in 2009.   
  • Maybank launches the country’s first wireless (mobile) payment terminal facility to accept credit or debit payment at the point of delivery with Pizza Hut. Later in the year, Maybank, in partnership with Maxis, Nokia, Touch n Go and Visa, launches the first-in-the-world, contactless mobile payments using near field communications (NFC) via Nokia phones.
  • In April, Maybank and Permodalan Nasional Berhad jointly launch Malaysia’s first-ever service for making additional investments in ASB units via Internet banking.
  • Maybank successfully completes a RM6 billion rights issue – the largest in Malaysian corporate history.  

2010
  • In March, Maybank becomes the first public listed company on Bursa Malaysia to announce a dividend reinvestment plan that allows shareholders of Maybank to reinvest their dividend into new ordinary shares of Maybank.
  • First Malaysian bank to achieve more than USD100 billion in total asset size and USD1 billion in profit after tax.
  • First to launch disabled friendly banking branches for wheelchair bound users nationwide.
  • Maybank launches 50th anniversary celebrations in January.
  • Launches TradeConnex, first local bank in Malaysia to offer a comprehensive suite of conventional trade finance products online.
  • Maybank Islamic launches Waqf, first structured community giving programme for customers by a financial institution in Malaysia.
  • Maybank Singapore launches the first Islamic financing package for SMEs in Singapore offering fixed rates beyond the conventional three year period.
  • Launches Malaysia and Asia’s first co-brand credit card with a healthcare service provider with the launch of the Pantai American Express Credit Card.
  • PT Bank Maybank Indocorp, Maybank’s subsidiary in Indonesia, is converted to a full-fledged Islamic bank and renamed Maybank Syariah Indonesia.
  • In December, the Group announced the setting up of the Maybank Foundation with an initial RM50 million allocation, to spearhead the Group’s Corporate Responsibility initiatives in the region.

2011
  • First Malaysian bank to launch an “Overseas Mortgage Loan Scheme”, offering Malaysians a local mortgage loan facility in Ringgit for purchases of property in London.   
  • Maybank announces the acquisition of stake in Kim Eng Holdings Ltd, a Singapore-listed investment banking group with a strong regional platform.   
  • Launches a strategic partnership via Shared Banking Services with Pos Malaysia Berhad. This service enables customers in Malaysia, especially in rural areas, to conduct selected Maybank services at more than 400 Pos Malaysia outlets nationwide.
  • First in Malaysia to launch “Maybank 2 Cards” which offers an innovative feature providing two credit cards together to a card member with only one sign-up.  
  • The first Qualifying Full Bank in Singapore to launch a Platinum Debit Card with the NETS FlashPay feature which allows cardholders to pay for public transport and small ticket purchases, as well as withdraw cash from ATMs and Singapore Post outlets.