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Tuesday, 6 November 2012

Maybank branch in Asean


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(kim eng)

Myanmar1 representative office

Maybank plans for 144 branches in Asean
Published: 2012/11/06

VIENTIANE: Maybank plans to open 144 more branches and increase its market share in the Asean region in the next three years.

President and Chief Executive Officer Datuk Seri Abdul Wahid Omar said today
the bank is eyeing to open an additional four branches in Laos, Singapore (13),Cambodia (nine), Philippines (48) and Indonesia (70).

This would increase the number of branches from one to five in Laos, from 22to 35 in Singapore,
from 11 to 20 in Cambodia, from 52 to 100 in the Philippinesand from 380 to 450 in Indonesia,
he told the Malaysian media here at theopening of Maybank's first branch in Laos yesterday
by Prime Minister DatukSeri Najib Tun Razak.

Maybank enjoys a five per cent market share in Singapore, three per cent inIndonesia and
one per cent in the Philippines, and hopes to increase thesefigures in the next three years, said Abdul Wahid.

With the opening of the Laotian branch, Maybank has a physical presence in all 10 Asean countries
including three branches in Brunei and two in Vietnam,although it has not gone into retail banking in Thailand and Myanmar yet.

In Thailand, Maybank has an investment bank, Maybank Kim Eng,
with 45branches, but only a representative office in Myanmar.

"We plan to set up our own branch in Thailand by 2014 and are still discussing with the Thai regulator on the matter.

We also plan to convert our representative office into a full-fledged branch.
"It is important for us to complete our presence in Asean in facilitating trade and investment
in the region as it moves towards the Asean Economic Community by 2015," Abdul Wahid said.


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