Wednesday, July 14, 2010

Maybank scores hattrick in Asiamoney private banking poll 2010

KUALA LUMPUR: MALAYAN BANKING BHD [] was awarded three Asiamoney Annual Private Banking poll 2010 Awards, which was a rare achievement for a Malaysian private banking services provider.

The banking group said on Wednesday, July 14, that it had won -- for the second consecutive year -- the Best Domestic Private Banking in Malaysia and Overall Best Domestic Private Bank for the US$1 million to US$5 million Asset under Management (AUM) category respectively.

Maybank was also voted as Overall Best Private Bank in Malaysia for the AUM US$5.01 million ' US$25 million category.

The annual Private Banking Poll 2010, conducted by Asiamoney, is its sixth annual and largest private banking poll thus far.

The poll was to showcase the leaders in the private banking industry within Asia'' and also identify the best of breeds for the high net-worth segment of individuals.

Winners were selected based on Asiamoney's poll of high net-worth individuals who have funds under management with private banks in Asia-Pacific.

Lim Hong Tat, deputy president and head, community financial services for Maybank described the awards as a seal for Maybank for Best Domestic Private Banking in Malaysia.

Lim said it confirmed the bank's value proposition to its affluent customers.

'From 2007 to 2009, Maybank grew its portfolio for high net-worth customers to 25.8%, while AUM'' average growth was at about 15%,' he said.

To date, total financial assets (TFA) for the high net-worth segment of customers exceed RM41 billion.

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