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Malaysian banks, several of which are among Southeast Asia’s largest, provide a complete variety of banking and financial services. The Bank Negara Malaysia, which was founded in 1959, is in charge of the country’s financial institutions. It is the country’s central bank, and it is in charge of maintaining monetary and financial stability.
Malaysian banks
In March 2021, Moody’s Investors Service granted Malaysian banks a stable outlook. Malaysia’s operational circumstances are likely to improve as a result of a gradual economic recovery and a healthy balance sheet, according to the rating agency. Local bankers will be protected from additional financial hardship caused by the Covid-19 pandemic, according to the report, because they have careful underwriting, robust capital, and liquidity.
This list of top banks in Malaysia is a good place to start if you’re thinking about a career in banking in Malaysia. See our list of financial institutions for additional information.
The following are the top Malaysian banks:
Malayan Banking Berhad (Maybank)
In terms of total assets and market capitalization, Maybank is the country’s largest bank. It is also one of Southeast Asia’s largest banks. Through its broad network of 2,626 locations in 10 ASEAN nations and global financial centres, it offers a wide range of banking products and services.
The Banker’s Top 1000 World Banks placed Maybank 106th in 2020. Maybank Islamic, the bank’s Islamic banking arm, is the region’s leading Islamic bank. It is also the fifth-largest Islamic bank in terms of assets in the world. Maybank was established in 1960 and is based in Kuala Lumpur.
MYR 6.48 billion in profit (2020)
3/2021 total assets: MYR 877.52 billion
CIMB Bank is a Malaysian bank.
CIMB Bank is the CIMB Group’s consumer banking division. Through a network of 1,080 locations, the universal bank provides banking services such as consumer and wholesale banking, strategic investments, treasury and markets.
Singapore, Thailand, and Indonesia are among the bank’s major markets, in addition to Malaysia. CIMB Bank is a Malaysian bank situated in Kuala Lumpur that serves over 13.5 million customers across the country.
MYR 988.29 million in profit (2020)
MYR 519.15 billion in total assets (2020)
Public Bank Berhad
Public Bank Berhad, founded in 1966, is one of Malaysia’s and Southeast Asia’s largest banks. It is the largest bank in terms of shareholder funds and the second-largest in terms of market capitalization in the country.
Personal and commercial banking, investment banking, Islamic banking, sale and management of unit trust funds, share brokerage, and insurance are among the goods and services offered by the bank, which is headquartered in Kuala Lumpur.
MYR 4.87 billion in profit (2020)
MYR 455.06 billion in total assets (3/2021)
RHB Bank is a financial institution based in Hong Kong
RHB Bank’s numerous subsidiaries offer a diverse range of financial products and services. It also serves Singapore, Thailand, Vietnam, Cambodia, Brunei, Laos, Indonesia, and Hong Kong, in addition to Malaysia. It was established as a public limited company in Malaysia in 1994, and its name was changed to RHB Bank in 1997.
The RHB Banking Group’s RHB Islamic Bank Berhad was the first domestic financial institution to establish an Islamic banking subsidiary in 2005. The company currently employs 14,000 people and operates 278 branches and offices.
MYR 2.11 billion in profit (2020)
MYR 280.51 billion in total assets (3/2021)
Hong Leong Bank is a Hong Kong-based financial institution.
Hong Leong Bank Berhad, a prominent publicly traded banking group in Malaysia, is one of the country’s largest banks. It serves customers in Malaysia, as well as China, Hong Kong, Singapore, Vietnam, Cambodia, and the United States.
Hong Leong Bank, based in Kuala Lumpur, was founded in 1905 as Commerce International Merchant Bankers. The bank is a subsidiary of the Hong Leong Group, which has interests in financial services, real estate, manufacturing, and infrastructure development.
MYR 1.86 billion in profit (2020)
3/2021 total assets: MYR 269.53 billion
AmBank Group – AMMB Holdings Berhad
AmBank Group, headquartered in Kuala Lumpur, offers retail and wholesale banking, Islamic banking, and insurance services in Malaysia. There are 170 branches and 641 ATMs in the bank’s network. It also goes by the names AmInvestment Bank, AmInvest, AmMetLife, and AmGeneral Insurance, among others.
The firm, which was founded in 1975 as the Arab-Malaysian Development Bank, now employs 10,000 people and serves over three million customers.
MYR 1.11 billion in profit (2020)
MYR 172.51 billion in total assets (2020)
United Overseas Bank is a financial institution based in the United Kingdom (Malaysia)
United Overseas Bank Limited (UOB), a Singaporean international banking organisation, offers a variety of banking services including commercial and corporate banking, personal finance, asset management, investing, corporate financing, and insurance.
UOB manages a network of 68 branches in Singapore and approximately 500 offices in Asia-Pacific, Western Europe, and North America. United Chinese Bank was established in 1935. (UCB).
MYR 1.01 billion in profit (2020)
MYR 127.73 billion in total assets (2020)
Bank Kerjasama Rakyat
The largest Islamic cooperative bank in Malaysia is Bank Kerjasama Rakyat Malaysia Berhad, or Bank Rakyat. Since 2004, it has been overseen by the Ministry of Domestic Trade, Cooperatives, and Consumerism. It was founded in 1954 as a result of the merging of 11 Malaysian union banks under the Cooperative Ordinance 1948.
Bank Rakyat offers a variety of products and services, including personal banking, commercial lending, and investments, through its 147 offices. Kuala Lumpur is the company’s headquarters.
MYR 1.63 billion in profit (2019)
MYR 109.37 billion in total assets (2019)
OCBC Bank (Malaysia) Berhad is a Malaysian bank.
Oversea-Chinese Banking Corporation Limited, or OCBC, is a subsidiary of OCBC Bank (Malaysia) Berhad, Singapore’s oldest local bank. Consumer and business banking, investing, Islamic banking, and treasury are among the services offered by the bank.
It is one of the largest foreign banks in Malaysia in terms of assets, with around 46 branches.
MYR 564.5 million in profit (2020)
MYR 92.86 billion in total assets (2020)
HSBC Bank Malaysia Berhad is a Malaysian bank headquartered in Kuala Lumpur
HSBC Bank Malaysia Berhad, a subsidiary of HSBC Holdings plc, is the country’s largest foreign-owned bank, having over 60 locations around the country. The bank, which was founded in Malaysia in 1994, provides Islamic financial services such as personal and business banking. It established HSBC Amanah Malaysia Berhad, an Islamic banking subsidiary, in 2007.
MYR 357.57 million in profit (2020)
MYR 86.32 billion in total assets (2020)