Maybank’s Values-Driven Financial Services To Empower Region As Malaysia Assumes ASEAN Chairmanship

KUALA LUMPUR, Dec 20 (Bernama) -- The continuous strengthening of the ASEAN economy in the last decade showcased the true resilience of the region, coupled with promising economic prospects owing to its strategic location, diverse economies, and commitment to regional integration.

With the ASEAN-6 gross domestic product (GDP) growth strengthening to +4.8 per cent in 2024 from +4.0 per cent in 2023, and to remain stable at +4.7 per cent in 2025, the region is in a strong position for accelerated growth and at the same time cushioning the risks from geopolitical uncertainties.

Malaysia’s ASEAN Chairmanship comes at an opportune time. It underpins the theme of “Inclusivity and Sustainability”, signalling the need for cohesive socio-economic development and planetary wellness.

bootstrap slideshow

With Maybank already well aligned to the theme, our joint aspiration is to empower a people-centric ASEAN, not just for 2025, but going beyond it.

This is our differentiating factor, centred on our purpose, which is to be a values-driven platform powered by a bionic workforce that humanises financial services.

To deliver on this aspiration, we bring our strengths together via four main pillars, namely, Values-Based Finance, Inclusive Economy for micro, small and medium enterprises (MSMEs), Sustainability and Social Impact.

bootstrap slideshow

Malayan Banking Bhd’s (Maybank) involvement will be centred on supporting regional financial stability and facilitating cross-border trade and investment within the ASEAN Economic Community as well as accelerating community empowerment initiatives across the region.

We have the opportunity to strengthen our commitment to a diverse set of beneficiary segments including students, youth, women, persons with disabilities (PWDs), marginalised communities via our Beyond Banking initiatives and corporates, SMEs, MSMEs and individuals via our banking initiatives.

Our commitment will include supporting key ASEAN Chairmanship initiatives, including organising thought leadership forums surrounding ASEAN-led meetings and events, partnerships with ministries and ASEAN, and introducing new products and solutions that will further accommodate the operating environment.

We have the right expertise to see this through. Via our deep understanding of the region, holistic approach, and smart multi-level collaborations, we remain optimistic about the prospects. The time is now, to create meaningful outcomes for all our stakeholders, and we have already made several headways.

In connecting ASEAN to the world, we have ramped up the expansion of our values-based finance offerings and will continue to drive innovative sustainable solutions across key markets.

This will be underlined by the purpose of being a values-based platform, incorporating the features of sustainability and ethical principles into our solutions and offerings to customers via myimpact.

We have introduced multiple solutions under myimpact, and the recent launch of HERpower aims to increase our SME portfolio led by women entrepreneurs from 20 per cent to 25 per cent by 2026.

This initiative will support over 43 million women-led SMEs in the region, namely, in Malaysia, Singapore, Indonesia, the Philippines and Cambodia.

We also remain steadfast in strengthening our global Islamic banking position. This is prominent through our efforts to attain Islamic wealth management leadership position in Malaysia, Singapore and Indonesia with our asset under management (AUM) growing by 35 per cent year-on-year (y-o-y) to RM85.3 billion.

This, among other factors, has culminated in maintaining our top five global leadership positions.

Additionally, the introduction of Salaam Market as a one-stop digital platform that allows SMEs to source halal-certified products at competitive prices will further boost businesses’ competitiveness in the halal economy.

To further spur sustainable regional growth, we are committed to drive an inclusive economy, especially by empowering MSMEs.

With this segment being the backbone of the economy for many countries in ASEAN, Maybank will continue to support MSMEs by scaling up our offering across key markets by providing expanded funding access and integrating solutions for ease of operations.

Recently, Maybank announced a strategic investment in Funding Societies | Modalku, the largest unified digital finance platform for MSMEs in Southeast Asia, in efforts to promote inclusivity and bridge funding gaps within the communities we serve.

On the digital front, we continue to build on our regional digital banking ecosystem which would truly create a borderless environment for businesses and individuals transacting.

Continued leadership in this segment saw strong growth in digital payments with more than 9.9 million active digital customers in Malaysia, Singapore, Indonesia, the Philippines and Cambodia.

In supporting ASEAN’s role in managing key regional affairs, particularly in sub-regions like the Johor-Singapore Special Economic Zone (JS-SEZ), Maybank is committed to being the preferred bank for Malaysia-Singapore transactions as we actively engage and connect businesses and governments for the mutual benefit of both nations.

Our support includes joint efforts to attract investments from Singapore and as a gateway to expand in ASEAN.

This will also include enabling key industries such as data centres, semiconductors, wealth management, logistics and manufacturing to thrive.

Through our global banking segment, we have placed an added focus to drive cross-border trade and investment by enhancing regional cash management services for our customers via seamless digital onboarding.

We also remain committed to serving the region by facilitating a stimulus investment environment as we continue to top the league tables by ranking #1 in the ASEAN equity capital market and defending leadership across products in Malaysia.

With our strong footprint across the region, we are capable of further connecting and broadening our clients’ access to the global economy. In supporting this agenda, our Invest ASEAN series will take centre stage with the objective of bringing together the region’s major investors, high-net-worth individuals, family offices and corporates in one centralised platform for engaging and revealing conversations.

With sustainability being a critical factor in the future of doing business, Maybank will be playing an even more active role in transitioning the region.

We surpassed RM100 billion in sustainable finance in September 2024, and published a white paper on decarbonisation plans covering the power, palm oil, steel and aluminium sectors, outlining our interim emissions targets and decarbonisation strategies.

As we strive to strengthen ASEAN as an attractive economic destination, we are cognizant of the need to drive positive social impact across the region.

Through Maybank’s social impact arm, Maybank Foundation, which is the only financial institution in the region to have an ASEAN accreditation, and our extended business sectors, we remain steadfast in uplifting the communities we serve via our Beyond Banking and Banking initiatives.

To date, Maybank has uplifted 2.13 million lives across ASEAN with a total social investment of RM354.73 million. This includes serving our stakeholders via three main pillars – empowering education, community empowerment and environmental diversity – under Beyond Banking initiatives. This also includes contributions via Islamic Social Financing such as zakat, waqf and Islamic financing.

Via our Banking initiatives to date, Maybank has disbursed RM43.54 billion in financing to 836,537 individuals and 122,766 SMEs.

We have also provided affordable Etiqa insurance coverage to close to 745,000 customers who come from the B40 and underprivileged segment.

In ensuring sustainable value creation for the region, Maybank has implemented measures to enhance its workforce’s capability.

Through Maybank’s diverse ASEAN-centric workforce with 99 per cent of it from ASEAN countries, we have a future-ready workforce and we are in a strong position to further contribute to the region’s success.

Twenty-five per cent of our employees are now in next-gen roles, equipped with data, digital, and IT skills, and we will continue to upskill them via comprehensive talent development programmes.

The ASEAN Chairmanship by Malaysia will strengthen the region’s position as a competitive economic block, further connecting itself to the global economies.

Maybank will play its own role to support this chairmanship, leveraging new economic opportunities favourable to the countries in Southeast Asia while solidifying the region’s overall socio-economic growth prospects.

-- BERNAMA

Commentary by Maybank president and group chief executive officer Datuk Khairussaleh Ramli