BEST PRIVATE BANK – MALAYSIA DOMESTIC
2017 was a momentous year for Malaysia’s Maybank with the establishment of its eponymous Islamic Private Wealth platform, marking the launch of the first of its kind regarding Sharia-compliant wealth management services in Asia.
Within six months of its launch in early 2017, it attracted an impressive US$1.3 billion of AUM. Such an encouraging result was boost enough to pave the way for Maybank Private Wealth to expand its template in the Asian region and the Middle East as it continues its commitment to service customers seeking Sharia-compliant solutions for their wealth – a true pioneer for the industry.
At a broader institutional level, Maybank is the only bank with a presence in all 10 ASEAN countries to date – a strength that Asian Private Banker recognises as a considerable point of differentiation to its peers.
And remarkably, against this broad physical footprint, the bank also enjoys an unrivalled online presence with some 77% of HNW customers active on its platform.
Underpinned by a strong, combined online-offline coordination and lifted by strong performances in its investment activities for the past two years, the platform’s AUM climbed steadily with a CAGR of 8%, reaching close to RM30B.
The healthy growth has contributed to a strong bottom line in excess of RM230M in revenue for the year.
Maybank is Asian Private Banker’s Best Private Bank – Malaysia Domestic for 2017.
“Maybank is committed to growing a strong Private Banking franchise, and to be among Asia’s Top Wealth Management players. We have developed an aggressive business plan and go-to-market strategy, which leverages the Group’s capabilities and network to develop and enhance the suite of wealth management products and services for our clients.”
Head of High Net Worth and Affluent Banking, Maybank Malaysia
“We are truly honoured to be conferred the title of Best Domestic Private Bank in Malaysia for the third consecutive year. It is a testament to the advancements we have made in the private banking space in Malaysia.”