Total assets of Maybank Group FY 2015-2023

At the end of fiscal year 2023, Malayan Banking (Maybank) Group Berhad, a Malaysian universal bank, recorded total assets of approximately one trillion Malaysian ringgit. This was an increase from around 948.13 billion in total assets in the previous year. 

Largest homegrown bank

Maybank was first established in 1960. Although it was founded by a Singaporean businessman, it became the first homegrown bank in Malaysia that served consumers nationally. Before that, the banking industry was mostly operated by foreign banks, including British-owned Standard Chartered and HSBC. Since then, the Malaysian bank has expanded its business not only in conventional banks but also offers Islamic banking services. Maybank is now one of the most valuable brands in Malaysia and the largest publicly-listed company on the Malaysian stock exchange.

Cross-border banking

With a presence in other Southeast Asian countries, Maybank has made it easier for consumers to make cross-border transactions. As of May 2023, Malaysian consumers can use QR code payment with the Maybank app in Singapore, Indonesia, and Thailand. This would allow ease of transactions for Malaysian visitors to other ASEAN countries. In 2022, there were more than 590 thousand Malaysian visitors to Singapore, and more than one million Malaysians visited Indonesia.