Maybank offers clients throughout Southeast Asia the benefits of a local banking relationship alongside the cross-border advantages of a regional banking powerhouse.
Southeast Asia not only plays a vital role in today’s global economy, it is expected to be pivotal in the future too. This is because in addition to the region’s current attractions — in particular a population in excess of 620 million people and an economy worth $2.6 trillion, making the bloc the world’s seventh largest economy — it is also home to some of the planet’s fastest-growing economies, with the gross domestic product of countries such as the Philippines and Vietnam expanding at around 6% a year.
Within the rapidly-growing economy of Southeast Asia, Maybank is a key provider of financial services. The bank serves clients in all 10 member countries of the Association of Southeast Asian Nations (ASEAN), and has booking centers in both Malaysia and Singapore that offer high net worth clients from across the area direct access to regional and global investment opportunities.
Achieving this status has naturally been a challenge, requiring Maybank to span multiple legal jurisdictions and regulatory frameworks and in general to meet the unique needs of clients across the economically, culturally and linguistically diverse region. Southeast Asia faces large income gaps both within and between the local countries. Maybank must nevertheless meet its clients’ banking needs, which often traverse national borders, and their demands are becoming increasingly sophisticated.
Essential to serving these clients is a highly skilled and adaptable work force, and Maybank is able to draw upon an incredibly talented pool of bankers and employees who reflect Southeast Asia’s rich and varied demographics.
This, in turn, means that, while Maybank has established itself as a regional powerhouse, the bank is still able to work and engage clients locally. Maybank’s employees thus possess deep local market insights and the bank has the expertise to tailor its services and advice in each individual market to its clients’ local requirements.
The bank’s relationship managers also maintain a regional mindset, reflecting the scale of the broader Maybank Group, and they are empowered to book and serve clients in the country of their preference. As a result, Maybank’s clients benefit from being able to access both a local bank and a genuinely regional value proposition.
Maybank’s strong presence throughout the Southeast Asian region affords it an advantage when offering seamless cross-border value propositions to its clients, as well as the convenience and freedom of investing in a timely manner anywhere in the world, without the need to liquidate any of their assets in advance.
In particular, the bank’s business across Southeast Asia allows Maybank to provide its clients with frictionless cross-border financing. Clients are granted access to a credit line that enables them to seize overseas investment opportunities quietly, rather than having to endure the time-consuming process of sourcing liquid assets from elsewhere in their portfolio. Clients’ assets domiciled in any eligible country can be pledged to secure a credit line at competitive rates, allowing them to diversify their assets across different countries and currencies without undue burdens.
With such an in-depth understanding of ASEAN markets, Maybank distinguishes itself from its competitors, bringing greater value to its clients through the bank’s unique expertise, connections, and regional footprint.