Maybank AR2013 Corporate

Regionalisation
Higher loans growth and PBT growth in overseas markets

15.1%
Return on Equity
Shareholder Returns
Dividend per share 53.5 sen
Earnings per share 75.8 sen
ANNUAL REPORT 2013
ANNUAL REPORT
BRIDGING
WORLDS IN ASIA
CAPTURING
THE FLOW OF BUSINESS
AROUND THE WORLD
INTO ASIA THROUGH
OUR NETWORK
Reach Market Opportunity Community People
2 MAYBANK ANNUAL REPORT 2013
GROUP STRATEGY &
ACHIEVEMENTS
28 Our Strategy & Achievements
32 Key Performance Indicators
34 Five-Year Group Financial Summary
36 Simplifed Group Statements of
Financial Position
37 Group Quarterly Financial Performance
37 Key Interest Bearing Assets and Liabilities
38 Statement of Value Added
39 Segmental Information
40 Maybank Share
46 Maybank in the News
52 Event Highlights
61 Awards & Recognition
AT A
GLANCE
4 Highlights of 2013
MESSAGE TO
SHAREHOLDERS
6 Chairmans Statement
8 Group President & CEOs Statement
ABOUT
US
14 Vision, Mission and Core Values
15 Code of Ethics and Conduct
16 Corporate Profle & Global Network
18 Key Business Entities
20 History, Innovation & Leadership
23 Group Corporate Structure
24 Group Organisation Structure
CONTENTS
The fnancial statements are
available in the Financial
Statements book of the
Annual Report 2013
This annual report
is available on the web at
www.maybank.com/ar2013
To contact us, please refer
to page 181 for Corporate
Information and page 182 for
Group Directory.
Page 6
CHAIRMANS STATEMENT
Your Company has performed strongly once again with record
Proft After Tax and Minority Interest (PATAMI), growing at
double digits, reaching RM6.55 billion at end of 2013.
Page 8
GROUP PRESIDENT & CEOS STATEMENT
A strategic imperative in managing the Maybank Group is
ensuring the strength of our balance sheet. Our clients who
have chosen our institution to place their funds, have to be
assured that their savings are secure, not just for today but for
generations to come.
RecordEarnings
RM6.55billion
Proft attributabletoequityholders of theBank
14.0%
GroupLoans Growth
RM560billion
Total Assets
ANNUALREPORT2013
ANNUAL REPORT
FINANCIALSTATEMENTS
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OTHER
INFORMATION
174 Analysis of Shareholdings
176 Classifcation of Shareholders
176 Changes in Share Capital
179 Properties Owned by Maybank Group
180 List of Top 10 Properties Owned
by Maybank Group
181 Corporate Information
182 Group Directory
AGM
INFORMATION
184 Notice of the 54
th
Annual General Meeting
186 Statement Accompanying Notice of the
54
th
187 Financial Calendar
Form of Proxy
BUSINESS
REVIEW
66 Group Financial Review
71 Economic & Banking Industry Review
74 Community Financial Services
79 Global Banking
90 Maybank's Overseas Operations
92 International
93 Greater China
94 Maybank Philippines
95 Maybank Indochina
96 Other Countries
96 Associates
97 Singapore
98 Indonesia
100 Insurance & Takaful
105 Islamic Banking
108 Shariah Committee
110 Group Human Capital
115 Group Technology
118 Group Operations
OUR
RESPONSIBILITY
122 Corporate Responsibility
128 Investor Relations
OUR
LEADERSHIP
132 Board of Directors
134 Board of Directors' Profle
140 Group Executive Committee
CORPORATE
GOVERNANCE
146 Statement on Corporate Governance
160 Statement on Risk Management &
Internal Control
162 Audit Committee Report
165 Risk Management
172 Group Compliance

54
th
ANNUAL GENERAL MEETING OF
MALAYAN BANKING BERHAD
Sime Darby Convention Centre, Grand Ballroom, Level 1, 1A Jalan Bukit Kiara 1,
60000 Kuala Lumpur, Malaysia
Monday, 7 April 2014 at 10.00 a.m.
Refer to pages 184 to 187 for Annual General Meeting Information and Financial Calendar.
Page 122
CORPORATE
RESPONSIBILITY
Maybank has a long history
of being at the heart of the
community. Right from the
start, we aimed to be a bank for
all Malaysians. In line with our
humanising mission, we are now
extending this community-based
approach across the region.
Page 16
CORPORATE PROFILE &
GLOBAL NETWORK
Maybank is among Asias leading
fnancial services groups, and the
fourth largest bank in Southeast Asia
by assets.
Page 74
COMMUNITY
FINANCIAL SERVICES
Fuelled by the belief and passion to
grow responsibly, we have reinforced
our alignment in strategic intent
as part of our mission to humanise
fnancial services across Asia.
Page 28
OUR STRATEGY
The ambitions set for Maybank
in 2015 have guided our strategic
transformation to-date. As the
defning moment approaches, the
transformation continues in full-force
and we are accelerating our eforts
further to realise our strategic
objectives and pave the path for
greater achievements ahead.
HIGHLIGHTS
OF 2013
PATAMI
RM6.55 billion
Cost to Income Ratio
47.8%
Management Appointments
Maybank Group
Bank Internasional Indonesia
Insurance & Takaful
Investment Banking
Dividend per share
53.5 sen
Record earnings with Proft After Tax and Minority
Interest (PATAMI) up 14.0% to RM6.55 billion on the
back of higher net income, supported by improved
cost efciency.
(Refer to page 66 for Group Financial Review)
Cost to income ratio improved to 47.8% from 48.6% in
FY2012, owing to slower overhead expense growth of
8.4% against net income growth of 10.5%.
Net dividend per share of 53.5 sen (FY2012: 52.5 sen) with
total FY2013 net dividend at RM4.71 billion.
Talent Development
A winner of Malaysia's Top 100 Leading
Graduate Employer Awards 2013
Corporate Responsibility
Over 119,000 hours for voluntary
community programmes
Maybank emerged as Winner of the Banking and
Financial Services category for the third year in a row
in Malaysia's Top 100 Leading Graduate Employer
Awards 2013.
(Refer to page 110 for Group Human Capital Review)
More than 23,000 Maybankers donated over 119,000
hours for voluntary community programmes. Through
our annual fagship Cahaya Kasih (Ray of Love)
programme, we structure, monitor and evaluate the
impact of all employee volunteerism.
(Refer to page 122 for Corporate Responsibility Review)
Note: PATAMI is define as Profit After Taxation And Minority Interest and is equivalent to Profit attributable to equity holders of the Bank as stated in the audited financial statements.
Appointment of Datuk Abdul Farid Alias as Group
PCEO and Management for three entities, along with
a refreshed organisation structure to support regional
growth.
(Refer to page 8 for Group President & CEO Statement)
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GLOBAL NETWORK
Over 2,200 ofces
20 countries
HUMAN CAPITAL
Over 47,000
Maybankers worldwide
CUSTOMERS
22 million
worldwide
Proft Attributable to
Equity Holders of the Bank
RM6.55 billion
Earnings Per Share
75.8 sen
Return on Equity
15.1 %
3.82
4.45
2.59
5.75
6.55
53.9
61.4
34.5
72.7
75.8
FY10
FY11
FP11 *
FY12
FY13
FY10
FY11
FP11 *
FY12
FY13
FY10
FY11
FP11 *
FY12
FY13
14.5
14.5
15.2
16.0
#
15.1
336.7
411.3
451.6
494.9
560.4
205.9
255.0
276.3
311.8
355.6
FY10
FY11
FP11 *
FY12
FY13
FY10
FY11
FP11 *
FY12
FY13
FY10
FY11
FP11 *
FY12
FY13
14.58
^
15.36
^
16.37
^
17.35
^
15.664
@
Total Assets
RM560.4 billion
Loans, Advances and Financing
RM355.6 billion
Capital Adequacy Ratio
Total Capital Ratio: 15.664%
@
FY10
FY11
FP11 *
FY12
FY13
FY10
FY11
FP11 *
FY12
FY13
FY10
FY11
FP11 *
FY12
FY13
55.0
60.0
36.0
65.0
53.5
53.5
66.9
65.5
77.6
88.1
7.56
8.94
8.58
9.20
9.94
Gross Dividend Per Share
53.5 sen
Market Capitalisation
RM88.1 billion
Share Price
RM9.94
* Six-month financial period (FP) ended 31 December 2011 due to the change of financial year (FY) end from 30 June to 31 December.
#

Computed based on weighted reallocation of additional RM3.66 billion capital raised in October 2012.
^

RWCR and assuming full reinvestment of DRP.
@ Total Capital Ratio (TCR) is computed in accordance with Capital Adequacy Framework (Capital Components) issued by Bank Negara Malaysia on 28 November 2012.
Financial Highlights
Non-Financial Highlights
CHAIRMANS
STATEMENT
Your Company has
performed strongly once
again with record Proft
After Tax and Minority
Interest (PATAMI),
growing at double digits,
reaching RM6.55 billion
at end of FY2013.
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We are especially pleased that our shareholders have kept faith in our
growth story, allowing us to maintain our position as Malaysia's most
valuable company in terms of market capitalisation by some margin -
thank you.
As another year passes, I am pleased to report that
your Company has performed strongly once again,
with record Proft After Tax and Minority Interest
(PATAMI) growing at double digits, reaching
RM6.55 billion at end of FY2013. It has indeed been
heartening that we continued to have strong proft
growth in Indonesia, as well as Investment Banking
and Islamic Banking, our priority areas. Our capital
base per the standards of Basel III remained strong
with Common Equity Tier I Capital ratio at 11.25%
- essential as we navigate the continuing economic
turbulence afecting our region of choice, Southeast
Asia and Greater China.
The building blocks to ensure that Maybank is
indeed a regional bank have been steadily placed
since the beginning of our transformation journey
fve years ago. Our talents have played important
roles in delivering the results, and we have earned
notable recognition in our people practices and
as a preferred employer in Malaysias banking and
fnancial services industry. With staf engagement
levels remaining very high comparable to world best-
in-class, we will stay focused on raising personnel
productivity, which will be supported by the
implementation of our new region-wide IT systems.
Indeed, it has been encouraging that productivities
in the Malaysian operations have been growing. This
is not only due to our wide reach across the country,
enabling us to pursue our policy for inclusiveness of
all our communities, but also allowed us to bring our
creativity and innovativeness to a large customer base
to good efect.
Meanwhile, our emphasis on reaching out to
communities continues to be demonstrated across
the region. Our initiatives include empowering
low-income families via fnancial inclusion and
educational programmes, awarding scholarships
to deserving students and providing micro-
fnancing schemes to local communities, especially
in Indonesia. In the Philippines, we resettled
families afected by the 2011 Typhoon Sendong.
Our corporate responsibility (CR) programmes aim
to deliver long-term sustainable benefts, and the
awards won during the year bear testimony to the
diference we are making to communities across the
region. More on our CR programmes can be found
in our 2013 Sustainability Report.
We are especially pleased that our shareholders
have kept faith in our growth story, allowing us to
maintain our position as Malaysia's most valuable
company in terms of market capitalisation by
some margin - thank you. As fnal dividend for the
year, we are proposing 31 sen per share net, or a
payout of RM2.75 billion. This would mean a full
year net dividend of RM4.71 billion which translates
to 53.5 sen per share. Our dividend reinvestment
programme continues, thereby strengthening our
fnancial foundations even further and rewarding
those who re-invested in the Company.
A change we did not anticipate was the departure
of our former President and CEO, Dato' Sri Abdul
Wahid Omar. He left mid-year to join the Malaysian
Government as a Minister in the Prime Minister's
Department. Dato Sri Wahid did a remarkable job
over his fve years leading the Group and driving
Maybank. My sincere thanks and best wishes to him.
The Board of Directors moved quickly to have
him succeeded by Datuk Abdul Farid Alias,
formerly our Head of Global Banking, to ensure
continuity and accelerate our regional strategy.
I am confdent that Datuk Farids leadership
and his experience in executing the Groups
strategic initiatives in his previous roles, will
enable us to strengthen our position as a
leading banking group in Southeast Asia.
I also extend my deepest thanks to Alister
Maitland, who retired as a director of the
Company in March 2013, after having served on
the Maybank Board since August 2009.
I envisage we can expect better opportunities in
2014 as the conditions in advanced economies
improve. We aim to remain agile to the
situation, confdent that we are well placed
to capture new value creation opportunities
should they arise, given our solid fnancial base,
clear diferentiated strengths in Islamic fnancial
services and a varied regional customer base.
The support of our stakeholders as we move
forward is much appreciated, and once again,
on behalf of the Board, thank you to all.
TAN SRI DATO MEGAT ZAHARUDDIN
MEGAT MOHD NOR
Chairman
DEAR SHAREHOLDERS,
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GROUP PRESIDENT &
CEOS STATEMENT
The record earnings
we achieved in FY2013,
means that earnings
per share for our
shareholders was at 75.8
sen, a 4.3% increase
from FY2012. The
Group has proposed
a fnal dividend of 31
sen, making a total net
dividend of RM4.71
billion for the year.
ANNUAL REPORT
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This is my frst letter to you as the Group President &
CEO (GPCEO) of Maybank. I would frst like to thank
the Board for giving me the opportunity to carry
this immense responsibility. At the same time, I am
also very excited at the opportunity to demonstrate
the growth possibilities that Maybank Group can
achieve. In this letter, I would like to share with you
my thoughts on how we have performed in 2013, our
expectations for 2014 and our initiatives this year.
REVIEW OF 2013 PERFORMANCE
For the fnancial year ended 31 December 2013
(FY2013), your Company recorded a Proft After Tax
and Minority Interest (PATAMI) of RM6.55 billion
- the highest proft ever in the 52-year history of
Maybank. It is 14% higher than our achievement
for FY2012, contributed by higher pre-tax proft in
Malaysia and in the region.
The Groups revenue base also saw an increase of
10.5% during the fnancial year contributed by all
business segments. Net-fund based income grew
8.4% on the strength of a 14% increase in Group
gross loans, while net fee-based income grew by
14.6%.
I am particularly pleased to share that our loan
growth for the Group of 14% came in ahead of the
12% target, despite the slower frst half period in
2013. Similarly on deposits, we grew 14% over the
preceding year and ahead of our target of 12%.
As we continued our focus on regionalisation, we
saw higher Proft Before Tax (PBT) in Malaysia and
in the region. PBT for our Malaysian operations
increased 12.1%, while PBT for our overseas
operations increased 12.7%. Within the region,
our Singapore operations recorded a PBT increase
of 9.8% while PBT growth for our Indonesian
operations came in at 18.8%.
DEAR SHAREHOLDERS,
Contributing to our performance in FY2013 was the
improvement on our cost to income ratio to 47.8%.
Our focus to continue strengthening the quality of
our portfolio has also translated into an improved
net impaired loans ratio from 1.09% in FY2012 to
0.95% in FY2013. At the same time, our loan loss
coverage ratio improved to 107.5% at end December
2013.
For detailed business reviews, please refer to:
Community Financial Services Pg 74
Global Banking Pg 79
Maybank Singapore Pg 97
Insurance and Takaful Pg 100
Maybank Islamic Pg 105
The record earnings we achieved in FY2013, means
that earnings per share for our shareholders was at
75.8 sen, a 4.3% increase from FY2012. The Group
has proposed a fnal dividend of 31 sen, making a
total net dividend of RM4.71 billion for the year. This
translates to a dividend payout ratio of 71.9%.
As a Group we aim to generate higher return on
capital from our regional business. The performance
we recorded for FY2013, translates to a return on
equity (ROE) of 15.1%. This is a very respectable
return for a fnancial institution operating in the
ASEAN region a collection of economies with
diferent risk-return profles. Our role is to maximise
the return while assuming a safe and steady risk
posture, that is typical of the Maybank Group.
In todays landscape, management of a fnancial
institution requires more capital and better risk
management infrastructure and practices to ensure
that we remain strong. This is not just a leading
practice but also a regulatory requirement set by
central banks in the countries we are present in, and
especially the regulator of our home market, Bank
Negara Malaysia. Given the minimum regulatory
requirements, we have always aimed to have
additional capital headroom to ensure we can
stand strong as a fnancial group. With a 15.66%
total capital ratio, we believe we have sufcient
capital to meet Basel III requirements as well as
our business requirements for 2014.
LOOKING AHEAD
Let me now share further our plans for 2014.
When the Group Executive Committee (EXCO)
members and I initiated our plan for the Group in
2014, we focused on running the Maybank Group
along these criteria:
- Capital requirements to manage our
business sustainably
- Minimum ROE that we strive to achieve for
you
- Risk posture that we can and should assume,
taking into account the above
Capital requirements to manage our business
sustainably
A strategic imperative in managing the
Maybank Group is ensuring the strength of our
balance sheet. Our clients who have chosen
our institution to place their funds, have to be
assured that their savings are secure, not just
for today but for generations to come. To ensure
that we never undermine the expectations of our
depositors, it means we have to take a measured
approach of how much capital we need. The risk
of being overcapitalised in my view, is more likely
to drive undesired aggression in lending which
may put our capital holders and customers at
risk. At the Maybank Group, I fnd comfort in
afrming to our shareholders that our capital
level is comfortable to manage our business
sustainably.
A strategic imperative in managing the Maybank Group is ensuring
the strength of our balance sheet. Our clients who have chosen our
institution to place their funds, have to be assured that their savings are
secure, not just for today but for generations to come.
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Target ROE & Risk Posture for 2014
For FY2014, we have set a ROE target of 15.0%. The
ROE target that we strive to achieve for you and the
risk posture that we take are inter-related. And here
is where business considerations take place.
We are a fnancial institution with a diverse
portfolio, both from business and geographical
perspectives. Diversifcation is both a risk strategy
and growth strategy. A good portfolio mix for
example, allows us not to be overly exposed to any
one area of exposure. From a growth perspective,
our expansion into other markets also allows us to
seek new opportunities for our future. In addition,
the aspirations of the ASEAN Economic Community
drives us to make ASEAN our home, hence our
regionalisation agenda.
REGIONALISATION & STRATEGIC
PRIORITIES FOR 2014
Regionalisation is not a new agenda in the Maybank
Group. When we were incorporated in 1960,
branches were immediately set up in Malaysia,
Singapore and Brunei. Over the years, we added
branches and build a presence in all 10 countries
in ASEAN, the three global fnancial centres of
Hong Kong, London and New York, the two biggest
emerging markets of China and India, the Middle
East in Bahrain and Saudi Arabia, and three other
opportunistic markets of Papua New Guinea,
Pakistan and Uzbekistan.
GROUP PRESIDENT & CEOS
STATEMENT
The primary focus of our regionalisation agenda
in 2014 is to enhance the performance of our
presence in ASEAN, including Singapore, Indonesia,
Philippines and Indochina as well as beyond
ASEAN, namely Hong Kong and Greater China. The
intention here is to get better performance from
all of those countries to reach the level of what
we have achieved in Malaysia. This requires us to
focus on some specifc priorities namely (1) ramping
up regionalisation (2) continuous improvement in
productivity, and (3) change in culture to ensure high
performance.
Strategic Priority 1: Ramping up Regionalisation
At the beginning of 2014, we revamped our Group
structure with this strategic priority in mind. The
regional structure will allow better collaboration
across countries and help us deploy more of our
best resources across the region. For instance, we
appointed Pollie Sim who has been very successful
in building our business in Maybank Singapore to
replicate that success in the Philippines, Greater
China and Indochina. And similarly, Datuk Lim
Hong Tat who has been extremely successful in
turning around our Community Financial Services
in Malaysia, will now take on the responsibility
of managing the Community Financial Services
business globally, as well as concurrently take on the
role as CEO of Maybank Singapore.
As we think about some of our competitive
diferentiators, our Islamic Banking capabilities
stands out. In FY2013, PBT for Maybank Islamic
increased by 17% to RM1.39 billion. Muzafar Hisham,
our Group Head for Islamic Banking and CEO for
Maybank Islamic Berhad has been instrumental in
making Maybank Islamic the third largest Islamic
bank globally. We are very excited with what we can
achieve in the Islamic banking space in the region
this year.
As a fnancial services leader in Malaysia, our
Insurance and Takaful business under the Etiqa
brand has been an important contributor. Kamaludin
Ahmad, CEO of Maybank Ageas Holdings Berhad
helped ensure Etiqa retained its ranking as the
second largest insurance company in the life and
family insurance business, and number one ranking
in the general insurance and takaful market.
Kamaludin Ahmad was subsequently appointed
Group Head, Insurance & Takaful, and he will
similarly take on the responsibilities for expanding
our Insurance & Takaful business in the region.
Strategic Priority 2: Continuous Improvement in
Productivity
While we have already seen progress on certain
productivity indicators, there is still more progress
to be made. We are making several signifcant but
relevant investments in systems Group wide that
will support productivity improvements. This is
a strategic move that needs to be well executed,
and we have appointed Geof Stecyk as Group
Chief Technology Ofcer to lead this. To date, we
have already rolled out our Global Treasury Risk
Management System, Regional Cash Management
System, Regional Trade Finance System and Regional
Branch Solution. There have been some teething
issues as some of our customers have pointed out,
but I promise that we will do better. This is done with
the ultimate interest to ofer a better experience to
our customers.
The primary focus of our regionalisation agenda in 2014 is to enhance
the performance of our presence in ASEAN, including Singapore,
Indonesia, Philippines and Indochina as well as beyond ASEAN, namely
Hong Kong and Greater China.
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To lead the Groups operations, Jerome Hon was
appointed Group Chief Operations Ofcer to
head this function. We believe that there are many
avenues we can work on to improve efciency and
productivity by adopting some of the best practices
that we have achieved in the Group as well as
leading benchmarks in the market.
Strategic Priority 3: Change in Culture for High
Performance
Central to all these initiatives is the continuing
transformation that the Group EXCO has been
working on to improve the culture within the
organisation. Designed and led by Nora Abd Manaf
our Group Chief Human Capital Ofcer, we will
continue to improve our internal environment
to promote continuous learning and further
transformation around high performance and
productivity, which is co-led by Michael Foong.
Michael Foong, who is also our Group Chief
Strategy Ofcer, initiates strategic discussions
across the Group and leads the refnement and
execution of our strategies.
Mohamed Rafque Merican and Dr John Lee, our
Group Chief Financial Ofcer and Group Chief
Risk Ofcer respectively have been responsible
for improving our ability to manage our assets
and liabilities, enterprise risk culture, and better
information system and risk culture that have
directly contributed to the improvement of our
asset quality.
OUR OUTLOOK FOR 2014 & HEADLINE KPIs
The global economic outlook for 2014 is expected
to be heavily infuenced by the performance of the
major economies. Overall global economic growth
is anticipated to rise by 3.5% this year, from 3.1% in
2013. However, ASEANs growth trends will likely
be mixed. On one side there is an anticipated uplift
from a rebound in external demand, but transitory
efects of domestic macroeconomic turbulence and
political uncertainties in the region are also expected
to have an impact in some ASEAN economies.
As we move from a good showing in 2013, our focus is
on the strategic priorities that I have shared earlier, and
on fne-tuning and executing the Groups strategies. On
the back of these, our targets for 2014 are:
Return on Equity 15%
Group Loans Growth 13%
Malaysia Loans Growth 12%
Singapore Loans Growth 13%
Indonesia Loans Growth 17%-20%
Group Deposits Growth 13%
APPRECIATION
Our ambition of growing value sustainably would not
have been possible without the support of many. I
would like to extend my sincere appreciation to our
customers, employees and shareholders for their
feedback, and their continued loyalty and support.
On behalf of the management team, I would also
like to express our appreciation to the Maybank
Board members and those of the other entities
within the Group, as well as the regulatory
bodies in all the countries we operate in, for their
continued guidance.
I would like to share with you that our mission of humanising fnancial
services across Asia is a very important driving force in what we do. As we
progress ahead, we intend to make sure that this is not just a statement,
but a promise for us to deliver to the best of our abilities.
Finally, I would like to record our appreciation to
Dato Sri Abdul Wahid Omar, the Groups former
PCEO who stepped down in June 2013 upon being
appointed as Minister in the Prime Ministers
Department Malaysia. I, like all 47,000 Maybankers
worldwide, am deeply proud of his appointment as
it is a testament to his accomplishments, especially
the leadership that he has given in transforming the
Maybank Group to date.
Before I end, I would like to share with you that our
mission of humanising fnancial services across Asia
is a very important driving force in what we do. This
resonates deeply with what we have expressed in our
recent branding campaign entitled "Bridging Worlds
in Asia", which we are using as the theme for our
Annual Report 2013. It is indeed about building on
Maybank's strength of humanising fnancial services,
having the right service solutions and providing
convenience to customers through technology.
As we progress ahead, we intend to make sure that
this is not just a statement, but a promise for us to
deliver to the best of our abilities. At the end of the
day, this we believe will make all the diference in our
efort to make a positive impact to our society.
Thank you.
Datuk Abdul Farid Alias
Group PCEO
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WITH MORE THAN
2,200 OFFICES IN
20 COUNTRIES,
WE CONNECT YOU
ACROSS ASIA.
REACH
LAOS
20 COUNTRIES
2,200 OFFICES
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Core Values
Vision
To Be A Regional Financial Services Leader
Mission
Humanising Financial Services Across Asia
TEAMWORK
We work together
as a team based on
mutual respect and
dignity
GROWTH
We are passionate
about constant
improvement and
innovation
EXCELLENCE &
EFFICIENCY
We are committed
to delivering
outstanding
performance and
superior service
INTEGRITY
We are honest,
professional and
ethical in all our
dealings
RELATIONSHIP
BUILDING
We continuously
build long-term and
mutually benefcial
partnerships
VISION, MISSION
& CORE VALUES
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Maybank, as a custodian of public funds,
has a responsibility to safeguard its
integrity and credibility. It is with this
understanding that the organisation sets
out clearly the code of ethics and conduct
for its staf. The code stipulates the sound
principles that will guide all Maybank staf
in discharging their duties. It sets out the
standards of good banking practice.
THE PURPOSE OF THE CODE IS TO:
1. Uphold the good name of the Maybank Group and to maintain public confdence in the
Maybank Group.
2. Maintain public confdence in the security and integrity of the banking system.
3. Maintain an impartial and unbiased relationship between the Maybank Group and its
customers.
4. Uphold the high standards of personal integrity and professionalism of Maybank Group
staf.
THE CODE STIPULATES THAT STAFF SHOULD NOT:
1. Engage directly or indirectly in any business activity that competes or is in confict with
the Banks interest.
2. Misuse or abuse their positions in the Bank for their personal beneft or for the beneft
of other persons.
3. Misuse information. Staf should not copy, remove or make use of any information
obtained in the course of business for the direct or indirect beneft of themselves or of
any other persons.
IN ADDITION TO THESE, STAFF SHOULD:
1. Ensure the integrity and accuracy of records and/or transactions.
2. Ensure fair and equitable treatment in all business dealings on behalf of the Bank.
3. Maintain the highest standard of service in their relationship with customers.
4. Maintain confdentiality of all relations and dealings between the Bank and its
customers. However, confdential information concerning a customer may be given or
made available to third parties only with prior written consent of the customer or when
disclosure is authorised under the Financial Services Act 2013.
5. Manage their fnancial matters well and not subject themselves to pecuniary
embarrassment.
6. Observe and comply with laws and regulations relating to the operations of the Bank.
CODE OF ETHICS
& CONDUCT
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Darussalam, Cambodia, Vietnam, Laos, Thailand,
Myanmar, China, Hong Kong, Papua New Guinea,
Pakistan, India, Uzbekistan, Saudi Arabia, Bahrain,
United Kingdom and United States of America.
The Maybank Group has leveraged its vast network
and extensive experience of over 53 years to
bridge customers across the world through unique
fnancial solutions and advisory services that are
tailored for their specifc needs. Its vast array of
products and capabilities makes the Group an ideal
business partner, particularly in markets where it
has a presence.
Over 2,200
OFFICES
Over 2,200 ofces in 20 countries
22 mil
CUSTOMERS
Over 47,000 employees serving over 22 million
customers
RM88.1 bil
MARKET
CAPITALISATION
The largest listed company on Bursa Malaysia
PAKISTAN
INDIA
MYANMAR
THAILAND
CAMBODIA
CHINA
HONG KONG
LAOS
VIETNAM
PHILIPPINES
LABUAN
BRUNEI
MALAYSIA
SINGAPORE
INDONESIA
PAPUA NEW GUINEA
CORPORATE PROFILE
& GLOBAL NETWORK
With a strong focus on innovation and excellence,
Maybank has been consistently recognised for
its leadership and ability to deliver value to all
its stakeholders. It has received numerous region
and international awards, and acknowledged for
its leadership among peers. Maybank is ranked
among the top 20 Strongest Banks in the World by
Bloomberg Markets magazine, and is the leading
Malaysian bank and among the top 100 Global
Banks listed by The Banker magazine. It has also
been ranked Malaysias Most Valuable Brand for
a number of years. The Groups Islamic Banking
arm, Maybank Islamic Berhad, is the top Islamic
Maybank is among Asias
leading fnancial services
groups, and the fourth
largest bank in Southeast
Asia by assets.
It was established in Kuala
Lumpur in 1960 and is
listed and headquartered in
Malaysia. It is also Malaysias
No.1 fnancial services group
and the largest company by
market capitalisation in the
country.
The Maybank Group ofers a comprehensive range
of fnancial services ranging from corporate and
consumer banking, investment banking, insurance
& takaful, asset management, Islamic banking,
ofshore banking, stock broking, venture capital
fnancing and internet banking.
It operates an extensive global network of over
2,200 ofces in 20 countries including in all 10
ASEAN countries. From its key home markets of
Malaysia, Singapore and Indonesia, the Groups
presence extends to the Philippines, Brunei
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RM560 bil
TOTAL ASSETS
The largest bank in Malaysia
RM6.55 bil
NET EARNINGS
Record PATAMI of RM6.55 billion for FY2013
OVERSEAS MARKETS
Bahrain 1 branch
Brunei 3 branches
Cambodia 16 branches
China 2 branches
Hong Kong 1 branch, 2 branches via Maybank
Kim Eng
Indonesia 422 branches via 78.95% owned
Bank Internasional Indonesia (BII), 6 branches
via Maybank Kim Eng, 1 branch via Maybank
Syariah Indonesia
India 1 branch via Maybank Kim Eng, 1 branch
in Mumbai via BII
Labuan 1 branch
Laos 1 branch
London 1 branch, 1 branch via Maybank
Kim Eng
Malaysia 399 branches, 6 branches via
Maybank Investment Bank
Myanmar 1 representative ofce
New York 1 branch, 1 branch via Maybank
Kim Eng
Pakistan 1,208 branches via 20% owned MCB
Bank, 4 branches via 32.5% owned Pak-Kuwait
Takaful Company
Papua New Guinea 2 branches
Philippines 77 branches, 3 branches via
Maybank Kim Eng
Saudi Arabia 1 ofce via Anfaal Capital
Singapore 22 branches, 4 branches via
Maybank Kim Eng
Thailand 51 branches via Maybank Kim Eng
Uzbekistan 1 ofce via 35% owned Uzbek
Leasing International
Vietnam 2 branches, 8 branches via Maybank
Kim Eng, 145 branches via 20% owned
An Binh Bank
LONDON
UZBEKISTAN
SAUDI ARABIA
BAHRAIN
NEW YORK
commercial bank by assets in the Asia Pacifc and
3
rd
in the world.
Maybank Group was built on the commitment that
it would serve as a catalyst for economic and social
development wherever it operates. True to this
philosophy, the Group has continuously worked
to support economic and social development
in countries where it operates. Today, this is
reinforced by its mission to humanise fnancial
services across Asia. Through this mission, Maybank
is focused on providing people with access to
fnancial services at fair terms and pricing, advising
them based on their needs and being at the heart of
the community.
The Maybank Foundation remains an integral
avenue for the Group to reinforce its commitment
to the community. Through the Foundations
regional corporate responsibility initiatives as
well as the active involvement of its employees,
Maybank remains steadfast in helping foster a
better and more sustainable future for all.
Home Markets - Malaysia, Singapore and Indonesia
Our three home markets of Malaysia, Singapore and Indonesia accounted for 91.2% of total Group PBT in
FY2013. Malaysia is the largest contributor, with 62.1% of Group gross loans originating from this market
and contributing 69.7% to Group PBT. The next biggest contributor to the Groups bottom line is Singapore
with 14.1% PBT contribution led by a strong commercial and consumer banking franchise. Our third home
market, Indonesia, makes up 7.4% of Group PBT, with its portfolio made up of consumer, SME and global
banking. For 2014, Maybank Group will look to fortify its dominance in proftable segments domestically,
grow returns from our businesses in Indonesia and strengthen our Singapore operations.
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KEY BUSINESS
ENTITIES
MALAYAN BANKING BERHAD IS THE HOLDING COMPANY AND LISTED ENTITY FOR THE
MAYBANK GROUP WITH BRANCHES IN MALAYSIA, SINGAPORE AND OTHER INTERNATIONAL
FINANCIAL CENTRES SUCH AS LONDON, NEW YORK, HONG KONG AND BAHRAIN.
Maybanks key overseas subsidiaries are PT Bank Internasional Indonesia Tbk, Maybank Philippines Incorporated, Maybank (Cambodia) Plc, Maybank (PNG) Ltd in
Papua New Guinea and Maybank International (L) Ltd in the ofshore centre of Labuan.
The major operating subsidiaries are Maybank Islamic Berhad, Maybank Investment Bank Berhad, Maybank Kim Eng Holdings Limited and Etiqa Insurance Berhad.
Maybank has associate companies in Pakistan (through 20%-owned MCB Bank) and in Vietnam (through 20%-owned An Binh Bank).
The Maybank Group Corporate Structure is on page 23.
INVESTMENT BANKING
The investment banking division of Maybank Group comprises Maybank Investment Bank Berhad and the Maybank Kim Eng Holdings Limited group of companies.
MAYBANK KIM ENG HOLDINGS LIMITED
Maybank Kim Eng Holdings Limited is a wholly-owned subsidiary of Maybank. Maybank Kim Eng comprises
businesses stretching around the globe with ofces in Singapore, Hong Kong, Thailand, Indonesia, the
Philippines, India, Vietnam, Great Britain and the United States of America. It provides services in corporate
fnance, debt markets, equity capital markets, derivatives, retail and institutional securities broking and
research.
MAYBANK INVESTMENT BANK BERHAD
Maybank Investment Bank Berhad is a wholly-owned subsidiary of Maybank. Maybank IB is the Malaysian
investment banking operation of Maybank Kim Eng. It ofers a complete range of investment banking
products and solutions including corporate fnance and advisory, strategic advisory, equity markets, stock
broking, debt markets, derivatives and research.
MAYBANK ISLAMIC BERHAD
Maybank Islamic Berhad is Maybank Groups wholly-owned, full-fedged licensed Islamic bank. It is the
leading provider of Islamic fnancial products and services in ASEAN. Maybank Islamic leverages on the
Groups infrastructure and network to ofer end-to-end Shariah compliant fnancial solutions. It continues to
be the leader in overall market share for fnancing and deposits in 2013.
ISLAMIC BANKING
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MCB BANK LTD
MCB Bank is a 20%-owned associate company of Maybank. As a leading bank in Pakistan with more than
60 years of experience, MCB has played a pivotal role in representing the country on global platforms with
a presence in Sri Lanka, Dubai, Bahrain, Azerbaijan and Hong Kong. It serves through a network of 1,208
branches including 27 Islamic banking branches within Pakistan and nine branches outside the country. MCB
has a large deposit base of Rs.632 billion and total assets of Rs.821 billion.
AN BINH BANK
An Binh Bank is a 20%-owned associate company of Maybank. Founded in May 1993, An Binh Bank has
transformed over the years from a rural bank to an urban bank ofering a full range of commercial banking
products and services. With 20 years under its belt, An Binh Bank has gained a frm foothold in Vietnams
banking industry with a network of over 145 branches and sub-branch ofces located across 29 provinces
nationwide.
PT BANK INTERNASIONAL INDONESIA TBK
PT Bank Internasional Indonesia Tbk (BII) is a subsidiary of Maybank. It is the ninth largest commercial bank
by assets and is listed on the Indonesia Stock Exchange (Ticker: BNII). The Bank provides a full range of
fnancial services for business, retail and global banking customers.
As of 31 December 2013, BIIs network comprises 422 branches, including Syariah branches, two overseas
branches in Mumbai and Mauritius and 1,524 ATMs including Cash Deposit Machines (CDMs). BII has total
customer deposits of Rp107.2 trillion and Rp140.7 trillion in assets.
ETIQA
Etiqa is the brand for Maybank Groups insurance and takaful businesses, which ofer all types and classes
of Life and General conventional insurance policies as well as Family and General takaful plans via our multi
distribution channels.
MAYBANK PHILIPPINES INCORPORATED
Maybank Philippines, Inc. (MPI) is a full-service commercial bank ofering a wide array of fnancial solutions
geared towards the upscale consumer market and selected segments of top-tier corporations. MPI is also
involved in treasury operations, with an emphasis on money market operations and foreign exchange
trading, as well as trust services. Today, MPI maintains a network of 77 branches strategically located in key
cities nationwide.
INTERNATIONAL
INSURANCE
KEY ASSOCIATES
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HISTORY, INNOVATION &
LEADERSHIP
Maybanks key milestones since incorporation in 1960 demonstrate its
commitment to innovation and excellence, making it a leader in Southeast
Asias banking industry.
1960
Maybank is incorporated on May 31 and begins operations in Kuala
Lumpur on September 12.
Malayan Finance Corporation (later Mayban Finance) is
established, the frst wholly bank-owned fnance company.
Maybanks frst overseas branch opens in Brunei Darussalam.
Branches are opened in Singapore.
1962
The Hong Kong branch opens on February 12, followed by a branch
in London on September 12.
On February 17, Maybank lists on the Kuala Lumpur Stock Exchange
(later Bursa Malaysia).
1973
In September, Maybank sets up its investment banking arm
Asian and Euro-American Merchant Bankers Bhd (Aseambankers).
The bank is renamed Maybank Investment Bank in 2009.
1974
First to introduce a rural credit scheme.
1976
First to introduce mobile bus banking services.
1977
In June, Mayban-Phoenix Assurance Bhd with the Bank holding
70% equity is incorporated ofering underwriting general
insurance risks. The remaining 30% is held by British Phoenix
Assurance. On October 10, 1986, Mayban-Phoenix Assurance is
renamed Mayban Assurance.
1978
Pioneer in computerisation of banking operations in Malaysia.
1980
Maybank launches its frst credit card the Maybank Visa Classic card.
1981
First Malaysian bank to set up ATMs in Malaysia.
1983
Prime Minister Dato' Seri Dr Mahathir Mohamad lays the
foundation stone of Menara Maybank Maybanks headquarters
in September.
1984
Maybanks New York branch opens in September.
1986
Maybank introduces the nations frst integrated and largest ATM
network Automated Banking Consortium or ABC linking Kwong Yik
Bank, Mayban Finance and Maybank in Malaysia and Singapore, a total
of 296 ATMs.
1988
Balai Seni Maybank and the Maybank Numismatic Museum are
ofcially opened by Tan Sri Dato Jafar Hussein, Governor of Bank
Negara Malaysia. Ofcial opening of Menara Maybank in June 1988 by
the Prime Minister.
First fnancial institution to introduce payment for new IPOs through
ATMs.
1990
Maybank sets up an ofshore bank in Labuan International Ofshore
Financial Centre.
1992
In January, Mayban Securities is formed.
Maybank Autophone is launched, making it the frst local bank to ofer
a computerised telephone service.
1993
Mayban Ventures begins operations.
Aseam Leasing and Credit Bhd is incorporated, ofering leasing and hire
purchase activities.
1994
Maybank (PNG) Ltd opens for business in Port Moresby in October,
with a second branch opened in Lae in 1997.
Prime Minister Dato' Seri Dr Mahathir Mohamad ofcially launches
joint venture with PT Bank Nusa Internasional of Indonesia.
1996
In March, the Hanoi branch and a representative ofce in Ho Chi Minh
City are ofcially opened. In October 2005 Ho Chi Minh City becomes
an ofcial branch making it the second branch in Vietnam.
Pioneer in bancassurance in Southeast Asia.
Maybank sells Kwong Yik Bank to Rashid Hussain Berhad in December.
1997
First to ofer the convenience of ticket-less travel for domestic fights
on MAS through MAS Electronic Ticketing (MASET).
Maybank acquires a 60% stake in PNB-Republic Bank of the
Philippines, and renames it Maybank Philippines Inc.
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2000
First to introduce View & Pay service in Malaysia using credit card and
direct debit via Internet with Mesiniaga Bhd.
First in Malaysia and Southeast Asia to ofer common ATM and over-
the-counter services in Malaysia, Singapore, Brunei and the Philippines.
First Malaysian bank to open a branch in Shanghai, Peoples Republic of
China.
Maybank launches Maybank2u.com in June, making it the frst bank in
Malaysia to introduce Internet banking services.
Maybank acquires Pacifc Bank Bhd and Phileo Allied Bank Bhd. In
2001, they were merged into Maybanks operations.
2001
Maybank and Fortis International NV, one of the largest providers of
integrated fnancial services in Europe, collaborate to set up Mayban
Fortis Holdings Bhd in a 70:30 partnership.
Maybank Tower, the new headquarters of Maybank Singapore, is
ofcially opened.
Deputy Prime Minister Dato Seri Abdullah Ahmad Badawi launches
Dataran Maybank in Kuala Lumpur.
2002
Mayban Takaful commences operations, making it the frst Takaful
company owned by a conventional bank in Malaysia.
2003
First to launch an Internet banking kiosk, in Malaysia, called
Maybank2u.com Internet Kiosk.
Maybank ofcially launches its Bahrain branch, the frst Malaysian bank
to operate there.
2004
First local bank to introduce e-Dividend via Maybank2e, a
comprehensive dividend payment system through the Banks
enterprise cash management system, Maybank2e.net.
The entire operations and business of Mayban Finance Bhd is vested
into Maybank.
2005
Acquisition of Malaysia National Insurance Bhd, Malaysias largest
national insurer and its subsidiary, Takaful Nasional Sdn Bhd, Malaysias
premier Takaful provider.
2006
First to ofer online mobile banking via SMS followed by M2U Mobile
Services using GPRS/3G phones in 2006.
Maybank becomes the sole issuer and manager of the American Express
charge card and merchant acquiring businesses in Malaysia.
First Malaysian bank to provide over-the-counter cash withdrawal
services in its ofces in Malaysia, Singapore, Brunei Darussalam and
the Philippines, called Region Link.
Maybank began title sponsorship of the Maybank Malaysian Golf Open
for a fve year period. This sponsorship was later renewed for another
fve years beginning 2011.
2007
First to introduce the structured commodity fnancing solution for
business customers.
First to launch complete mobile money service in Malaysia with Maxis.
Maybank Group launches Etiqa, the new brand name for its
conventional and takaful businesses under Mayban Fortis Holdings.
2008
First to launch Malaysias dual purpose Bankcard in partnership
with Visa International in 2008.
Malaysias Most Valuable Brand in 2007 & 2008.
Maybank establishes its Islamic banking subsidiary, Maybank
Islamic Berhad.
Maybank acquires stakes in PT Bank Internasional Indonesia, An
Binh Bank of Vietnam and MCB Bank Ltd of Pakistan.
2009
First to launch online facility for making additional investments in
ASB units with PNB.
Maybank launches the countrys frst wireless (mobile) payment
terminal facility to accept credit or debit payment at the point of
delivery with Pizza Hut.
Partnered with Maxis, Nokia, Touch n Go and Visa, to launch
the worlds frst, contactless mobile payments using near feld
communications (NFC) via Nokia phones.
Maybank and Permodalan Nasional Berhad jointly launch
Malaysias frst-ever service for making additional investments in
ASB units via Internet banking.
Maybank successfully completes a RM6 billion rights issue the
largest in Malaysian corporate history.
2010
First public listed company on Bursa Malaysia to announce a
dividend reinvestment plan.
First Malaysian bank to achieve more than USD100 billion in total
asset size and USD1 billion in proft after tax.
First to launch disabled friendly banking branches for wheelchair
bound users nationwide.
Maybank celebrates its 50
th
anniversary.
Launches TradeConnex, frst local bank in Malaysia to ofer a
comprehensive suite of conventional trade fnance products online.
Maybank Islamic launches Waqf, the frst structured community
giving programme for customers by a fnancial institution in
Malaysia.
Maybank Singapore launches the frst Islamic fnancing package for
SMEs in Singapore.
Launches Pantai American Express Credit Card, Malaysia and Asias
frst co-brand credit card with a healthcare service provider.
PT Bank Maybank Indocorp is converted to a full-fedged Islamic
bank and renamed Maybank Syariah Indonesia.
Maybank Foundation is established with an initial RM50 million
allocation, to spearhead the Groups Corporate Responsibility
initiatives in the region.
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HISTORY, INNOVATION &
LEADERSHIP
2011
First Malaysian bank to launch an Overseas Mortgage Loan
Scheme, ofering Malaysians a Ringgit mortgage loan facility for
property in London.
Acquisition of Kim Eng Holdings Ltd, a Singapore-listed investment
banking group with a strong regional platform.
Launches a strategic partnership via Shared Banking Services with
Pos Malaysia Berhad, providing selected Maybank services at more
than 400 Pos Malaysia outlets nationwide.
First in Malaysia to launch Maybank 2 Cards which provides two
credit cards together to a card member with only one sign-up.
The frst Qualifying Full Bank in Singapore to launch a Platinum
Debit Card with the NETS FlashPay feature.
First Malaysian bank to launch eCustody, an electronic, front-end,
internet-based platform ofering institutional clients the fexibility
of online management of their custody accounts with the Group.
Unveils a refreshed corporate identity which is driven by its
mission to Humanise Financial Services Across Asia.
2012
Maybank becomes the frst local bank to simultaneously sign
agreements with four banks from Myanmar to introduce Maybank
Money Express (MME) remittance service to the country.
Maybank reafrms its long term commitment to Cambodia with
the local incorporation of its operations there.
Maybank Foundation expands its local scholarship programme to
include, for the frst time, scholarships from pre-university level.
The Foundation awarded full scholarships to 19 deserving students
at top public and private local universities.
Maybank expands its network in China with a new branch in
Beijing to boost its Greater China operations.
The Prime Minister of Malaysia ofcially opens Maybanks frst
branch in Laos, which completes the Groups footprint in all 10
ASEAN nations.
Maybank Singapore executes the frst Islamic Proft Rate Swap on
the back of a syndicated Islamic loan, establishing its capability in
Islamic hedging solutions.
Malaysias Most Valuable Brand.
Maybank announces the successful completion of a bookbuilding
exercise in relation to its private placement, raising approximately
RM3.66 billion (US$1.2 billion) at a narrow discount to the market
price. The private placement, ranked as the largest in Malaysias
corporate history, is well received by both domestic and foreign
institutional investors.
Maybank Philippines Inc. launches the Maybank Credit Card in the
Philippines.
Maybank Philippines Inc. announces the move of its ofces to the
new Maybank Corporate Centre in Bonifacio Global City in Taguig.
The frst bank in Singapore to introduce the Maybank Smart TV
App, leveraging on the full capabilities of the Samsung Smart TV to
create a truly innovative online service and engagement channel
for customers and non-customers.
Maybank launches its enhanced Regional Cash Management
platform, delivered through its state-of-the-art web-based
Maybank2E platform in Singapore to tap into Asias fast growing
cash management market.
Maybank launches its internet banking service, Maybank2u,
in Cambodia, making this award-winning service available to
customers in the country.
Maybank expands its network in Cambodia with the opening of
its 12th branch in the country, located at the Phnom Penh Special
Economic Zone.
2013
Maybank is the frst ASEAN bank to adopt Microsofts Windows 8
platform for its corporate mobile banking application, Maybank2E-
Regional Cash.
Maybank launches its frst investment-linked plan, Luxury Edition,
a single premium closed-ended investment-linked insurance plan
in Malaysia to ofer a combination of insurance protection and
investment for luxury goods market.
Maybank launches Maybank2u Pay, another frst by a bank in
Malaysia. Maybank2u Pay is a payment gateway to facilitate
purchases at blog shops, ofering not only fast and safe
transactions, but also a convenient and reliable online shopping
experience.
Maybank expands its successful co-brand partnership with
Manchester United (MU), bringing to the market the Maybankard
Visa Infnite Manchester United card, the frst ever co-brand
Manchester United card in the world targeted at the niche high net
worth segment.
Maybank expands its Overseas Mortgage Loan Scheme (OMLS) to
include purchases of residential properties in three new markets
namely Sydney, Perth and Singapore. Malaysian investors can now
enjoy the convenience of fnancing their property purchases there
in Ringgit. Maybank is the frst Bank in Malaysia to introduce the
OMLS.
The Prime Minister of Malaysia, Dato Sri Mohd Najib bin Tun
Haji Abdul Razak, ofciates the launch of Maybank Islamic Asset
Management at the World Islamic Economic Forum in London.
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100% Maybank Asset Management Group Berhad
(Investment Holdings)
100% Maybank Asset Management Sdn Bhd
(Fund Management)
99% PT Maybank GMT Asset
Management
(Fund Management)
100% Maybank Islamic Asset Management
Sdn Bhd
(Fund Management)
100% Maybank Private Equity Sdn Bhd
(Private Equity Investments)
100% Maybank Asset Management (Thailand)
Company Limited
(Fund Management)
100% Maybank Asset Management Singapore
Pte Ltd
(Fund Management)
100% Maybank IB Holdings Sdn Bhd
(Investment Holding)
100% Maybank Kim Eng Holdings Limited
100% Maybank Kim Eng Securities Pte Ltd
(Dealing in Securities)
83.50% Maybank Kim Eng Securities (Thailand) Plc
100% Maybank ATR Kim Eng Capital Partners, Inc.
80% PT Maybank Kim Eng Securities
100% Maybank Kim Eng Securities (London)
Limited
100% Maybank Kim Eng Securities USA Inc.
100% Maybank Kim Eng Securities Joint Stock
Company
100% Kim Eng Securities (Hong Kong) Limited
75% Kim Eng Securities India Private Limited
Other Subsidiaries
GROUP CORPORATE
STRUCTURE
as at 31 January 2014
COMMERCIAL
BANKING
Notes:
1. Where investment holding companies are omitted, shareholdings are shown as effective interest.
2. Companies that are not shown include those dormant, under members voluntary liquidation, have ceased operations or provide nominee services.
3. Refer to Note 58 : Details of Subsidiaries and Associates in the Financial Statements book of the Annual Report 2013 for the complete list of Maybank subsidiaries and associate companies.
* Effective interest. Refer to Note 58, footnote 16, page 207 of the Financial Statements book of the Annual Report 2013.
100% Etiqa International Holdings Sdn Bhd
69.05% Maybank Ageas Holdings Berhad
100% Etiqa Insurance Berhad
(Life & General Insurance)
100% Etiqa Takaful Berhad
(Family & General Takaful)
100% Etiqa Life International
(L) Limited
(Ofshore Investment-linked Insurance)
100% Etiqa Ofshore Insurance
(L) Limited
(Management Services)
100% Etiqa Overseas Investment
Pte Ltd
32.5% Pak-Kuwait Takaful
Company Limited
(Takaful Business)
100% Etiqa Pte Ltd
(Management Services)
100% Maybank Trustee Berhad
(Trustee Services)
100% Maybank Shared Services Sdn Bhd
(IT Shared Services)
Other Subsidiaries
100% Maybank Islamic Berhad
(Islamic Banking)
98.31%
*
PT Bank Internasional Indonesia Tbk
(Banking)
100% PT BII Finance Center
(Multi fnancing)
62% PT Wahana Ottomitra Multiartha Tbk
(Multi fnancing)
100% PT Bank Maybank Syariah Indonesia
(Islamic Banking)
99.97% Maybank Philippines Incorporated
(Banking)
100% Maybank (Cambodia) Plc
(Banking)
100% Maybank International (L) Limited
(Ofshore Banking)
100% Maybank (PNG) Limited
(Banking)
20% MCB Bank Limited
(Banking)
20% An Binh Commercial Joint Stock Bank
(Banking)
35% Uzbek Leasing International A.O.
(Leasing)
INVESTMENT
BANKING
MALAYAN
BANKING
BERHAD
ASSET
MANAGEMENT
100% Maybank Investment Bank Berhad
(Investment Banking)
100% BinaFikir Sdn Bhd
(Consultancy and Advisory)
Other Subsidiaries
INSURANCE
OTHERS
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GROUP ORGANISATION
STRUCTURE
Datuk Lim Hong Tat
Group Head,
Community
Financial Services
(CFS)
Datuk Abdul
Farid Alias (Acting)
Group Head,
Global Banking (GB)
Datuk Abdul Farid Alias
Group President &
Chief Executive Officer
Muzaffar Hisham
Group Head,
Islamic Banking
(CEO), Maybank
Islamic Berhad
Kamaludin Ahmad
Group Head,
Insurance & Takaful
(CEO), Maybank Ageas
Holdings Bhd (MAHB)
Michael
Foong Seong Yew
Group Chief Strategy
Officer
Office of the Group
President & CEO
Mohamed Rafique
Merican bin Mohd
Wahiduddin Merican
Group Chief Financial
Officer
Responsible for driving
the strategy, growth and
performance of the CFS
businesses which covers
consumer, business banking
and SME segments, as well
as the shared sales and
distribution network for
the key markets globally.
By working with respective
country teams, the core
function of his regional
team is to drive better
cross-border synergies of
the CFS businesses in the
areas of wealth management,
high net-worth and affluent
banking, card businesses,
business banking, and SMEs
as well as via other cross-
border initiatives such as
sharing of best practices,
talent deployment as well
as leveraging on common
investments.
Responsible for the overall
strategy, growth and
performance of the Global
Banking (GB) businesses
comprising investment
banking, corporate banking,
global markets, transaction
banking, asset management
and the client coverage
teams who play the role of
a single point of contact
for our corporate and
institutional clients. Also
accountable for successful
execution of GB strategic
initiatives and business
transformation including
driving the GB business
across the region through
dedicated local in-country
GB Head in key markets
together with local in-country
client coverage and product
heads. GB also comprises the
finance, strategy, legal, risk
management and IT functions
supporting the client
coverage and the respective
line of businesses.
Responsible for managing
and setting the key strategies
for the Groups Islamic
banking business, overseeing
product management,
Islamic Global Markets,
business development,
Shariah management,
strategic management as
well as risk management.
Core responsibilities also
include formulating business
strategies, monitoring
financial and business
performance as well as
implementing policies and
frameworks and ensuring
the execution of the Islamic
banking business across the
Group is Shariah compliant.
Muzaffar Hisham is also
responsible for driving the
"Islamic First" strategy across
the Group and building the
Islamic brand as top of mind
in the region.
Responsible for driving
and managing the overall
strategy, profitability and
growth of the Groups
Insurance and Takaful
business. Aside from
managing the life/family
and general businesses,
his teams also oversee the
investment, commercial,
corporate planning, risk
management and IT decisions
pertaining to the Insurance
& Takaful operations.
The core responsibilities
of his teams are aligned
towards achieving the Etiqa
aspirations. These include
strengthening distribution
footprint, growing PBT via
organic growth and regional
expansion, strengthening
Takaful leadership position
and making Etiqa as a
preferred brand among all
Malaysians.
the Groups transformation
programme across the
region and developing the
Groups long-term strategies.
He leads the Office of the
Group President and CEO,
in which the teams oversee
the development and
propagation of the Groups
strategic objectives. They also
drive productivity and cost
management improvement
programmes while
overseeing multiple projects
to deliver new capabilities
and expansions into new
geographies. In addition,
elevating the Maybank
brand as well as positioning
the Group with external
stakeholders are focus
areas. Finally, the Corporate
Development and Innovation
team oversees the Group
Innovation agenda to propel
Maybank to become known
as a leading innovative bank.
and executing the strategy
for the finance function
across the Group. His teams
are positioned as regional
business partners, overseeing
seven functional pillars,
namely Financial Control,
Corporate Treasury, Tax,
Performance Reporting &
Investor Relations, Strategic
Procurement, Finance
Strategy and Finance
Operations. Also provides
direct support to business
segments in the Maybank
Group through business
finance and country-level
finance teams. Group Finance
also provides subject-
matter expertise in capital
management, corporate
finance, corporate remedial
management, tax and MIS
(Management Information
Systems).
Nora Abd Manaf
Group Chief Human
Capital Officer
Responsible for the
development and
implementation of all people
aspects in the Maybank
Group. She is responsible for
the Human Capital Centre
of Expertise, which develops
and implements policies that
are applicable Group wide,
across the various businesses
and countries, as well as
ensuring that strategic
Human Capital Management
is effective across the Group.
Her key focus and objectives
for FY2014 and beyond
include further entrenching
Maybanks reputation as
a leading employer and
an Employer of Choice,
driving a high performance
culture, improving Maybank
Groups Staff Productivity,
driving the Groups Regional
Transformation through the
people and structure aspects,
and building a sustainable
talent & succession pipeline.
FUNCTION BUSINESS
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Geoff Stecyk
Group Chief
Technology Officer
Jerome Hon
Group Chief
Operations Officer
Dr John Lee Hin Hock
Group Chief Risk
Officer
Responsible for the Group's
credit and risk management.
His teams provide value
to the Group through
independent and integrated
assessments of compliance,
credit management, market,
operational, liquidity,
credit and enterprise risk
management. Group Risk
remained committed in
FY2013 to enhancing and
integrating risk into the
business to strengthen risk
management effectively
across the Group. Based on
this overarching strategy, the
teams focused on enhancing
the overall risk frameworks,
systems and processes,
improving the risk-reward
dynamics across the Group
and optimising capital and
liquidity management across
the Group.
Responsible for directing
and driving the Groups
technology initiatives to
support Maybank Groups
long-term strategic
objectives. His teams oversee
the technology applications
and infrastructure adopted
across all business units and
countries in which Maybank
Group operates. The core
responsibilities of his teams
include end-to-end project
delivery such as project
management, solution
architecting and system
design, code development
and testing, as well as
operational support services.
Other responsibilities include
the definition of technology
standards and frameworks,
governing the Groups
architecture principles
and ensuring compliance
of the Group's technology
solutions with national
and international security
standards.
Responsible for overseeing
the Groups overall internal
operations infrastructure to
ensure service integration
and effectiveness.
His teams consist of
Payments & Self Service
Terminals, Trade Operation
Centre, Transformation
& Project Management
Office, Group Collateral
Management System, Credit
Administration, Treasury
Operations and Property,
Security & Valuations. The
core responsibilities of his
teams include developing
and enhancing processes
to support all banking
transactions, and ensuring
the smooth daily operations
of these functions.
Pollie Sim
(CEO), International
Responsible for strategising,
leading and transforming
the Group's overseas
operations covering 16
countries excluding Singapore
and Indonesia. The key
responsibilities of her team
are to build greater synergy
and accelerate profitability of
the Maybank franchise across
the international landscape
for long term growth, as well
as to establish the Bank as
a regional financial services
leader.
Datuk Lim Hong Tat
(CEO),
Maybank Singapore
Responsible for driving the
overall profitability and
growth of Maybank Groups
operations in Singapore. By
working closely with the
other Maybank Group entities
in Singapore Maybank Kim
Eng and Etiqa Insurance, the
core responsibilities of his
team include strengthening
the Groups franchise in
Singapore by optimising
synergies, leveraging on
business opportunities,
and developing new market
segments to drive growth
strategy which is in line with
the Country vision to be the
leading financial solution
provider, providing a holistic
suite of financial services to
our customers in a seamless
manner.
Datuk Abdul Farid
Alias
(CEO), Malaysia
Responsible to develop and
drive the overall country
business strategy, aligned
to the overall Maybank
Group strategy. This would
encompass the different
businesses and group
functions within Malaysia.
The CEO of Malaysia also
collaborates closely with his
counterparts in the different
countries to firmly establish
Maybank Groups presence
across the region.
Taswin Zakaria
President Director
Designate Bank
lnternasional
l ndonesia
*
Responsible for the overall
business performance and
growth of BII. His teams
oversee the running of BIIs
operation, which not only
include the banking services
such as retail, business
and global banking but all
other aspects including
risk management, finance,
human capital, operations
& IT, legal and compliance.
He is also responsible for
leveraging on the strengths
of Maybank Group to capture
a larger slice of the market
share and at the same time
strengthening the Group's
operation in Indonesia.
* Subject to regulatory
approval
COUNTRY
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AS ONE OF THE LARGEST
FINANCIAL INSTITUTIONS
IN ASEAN, WE CREATE
OPPORTUNITIES FOR YOU
TO REACH YOUR GOALS.
TOTAL ASSETS
RM560
BILLION
OPPORTUNITY
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OUR STRATEGY
& ACHIEVEMENTS
GROUP STRATEGY
Our focus on positioning Maybank as a leading fnancial services group whilst humanising fnancial services across Asia has been defned by growth in terms of scale and
capabilities. The priority now is to maximise our potential by:
Fortifying our dominance in strategic segments domestically whilst securing returns from our expanded regional footprint
Reinforcing our high performance culture and entrenching process improvements in all areas, including cost and productivity
Leveraging on our revised structure to sharpen our focus across a matrix of both regional and business line control
Fulflling the needs and expectations of our customers not only in terms of ramping up our portfolio of products but also rewarding them with the service quality
and heart they deserve
Deepening our relationships with the communities we serve, to fourish and grow in sustainable, meaningful ways together
REVISED MAYBANK GROUP STRUCTURE
The Group embarked on a transformation journey since 2008 with the launch of the LEAP30 Transformation Programme. As part of the programme, the House
of Maybank was introduced in July 2010 to ensure convergence of the many sectors into main business pillars supported by the foundation and the roof to realise
our Vision and Mission. The structure has been instrumental in delivering greater efciencies, higher productivity and savings, synergies and strong business
results year-on-year.
With a solid foundation, the Group has reorganised to further accelerate to the next level of regional business performance and operational excellence that will
take us to and beyond 2015. This means elevating the Groups regionalisation eforts to further raise efciency and productivity, reap value from synergies, realise
potentials, strengthen leadership positions in businesses across the Group and institutionalise a sustained high performance culture. To catalyse the above, a
revised Group Structure has been operationalised since 1 January 2014.
The revised Group Structure is expected to uplift the efectiveness in driving our strategic priorities regionally, thereby boosting the Groups performance levels.
Refer to Page 24 for the new Group Organisational Structure.
The ambitions set for Maybank in 2015 have guided our strategic
transformation to-date. As the defning moment approaches, the
transformation continues in full-force and we are accelerating our eforts
further to realise our strategic objectives and pave the path for greater
achievements ahead.
MICHAEL FOONG
Group Chief Strategy Ofcer
Ofce of the Group President & CEO
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Notes :
1. Market share is based on the rolling 12 months LIAM and ISM data from Oct 2012 to Sept 2013.
2. Source: EY World Islamic Banking Competitiveness Report 2013-14 (Excludes Iran).
STRATEGIC OBJECTIVES
Undisputed No.1 Retail Financial Services provider in
Malaysia by 2015
Leading ASEAN wholesale bank, eventually expanding
to Middle East, China & India
Undisputed Insurance & Takaful leader in Malaysia &
emerging regional player
Truly regional organisation with ~40% of pre-tax proft
derived from international operations by 2015
Global leader in Islamic Finance
ACHIEVEMENTS
Best Retail Bank, Malaysia by Asian Banker (2013)
2
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most proftable retail/commercial bank
Widest physical network with a market share of 20%
Market shares in Malaysia: No.1 in corporate lending and non-retail deposits, No.1 in Trade
Finance, No.1 in Equity, No.1 in Syndication and No.2 in M&A value
Present in 10 out of 10 ASEAN countries
No.1 market share in General business and Family Takaful business in Malaysia
1
Strong capital position with international rating of A for both Etiqa Insurance Berhad and
Etiqa Takaful Berhad
International PBT contribution at 30.3%
Footprint in all 10 ASEAN countries and in Asia
Largest Islamic bank in ASEAN and top 5 globally by asset size (RM91.4 billion)
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Best Islamic Financial Institutions Awards 2013 for Asia, Malaysia and Singapore by Global
Finance
MAYBANK'S TRANSFORMATION
Maybanks transformation journey began in 2009, designed to secure our leading
position in the Malaysian fnancial services industry and to expand our regional
presence, in line with our vision of becoming a leading regional fnancial services
provider by 2015. The programme drove strategic initiatives to stimulate sales,
strengthen client relationship management, improve our processes and systems,
enhance our talent pool and raise customer service standards.
The transformation beneftted the bank through challenging economic
environments of 2011 and 2012. By 2013, we had increased our market share in
retail and global banking both domestically and regionally, and innovated new
touch points in the marketplace. Today, Maybankers are more conscious of staying
ahead of competitors and exceeding the needs of every customer. Recognition for
our successes has come in steadily from the public, the industry and international
bodies.
To ensure Maybank retains its clear leadership position, and to be diferentiated
regionally, transformation eforts in 2013 focused on achieving bottom-line
impact from our three business pillars Community Financial Services (CFS),
Global Banking (GB) and Etiqa with an emphasis on reaching our fve strategic
objectives. Strengthening our performance, we managed expenses prudently,
ensured that we had the right risk balance, and continued improving our
processes and service quality for our customers.
STRONG FINANCIAL OUTCOMES THAT
CONTRIBUTED TO PROFITS
Benefts and value capture continue to stream in from previous years'
transformation initiatives. Coupled with the current years programme,
the total value capture for transformation doubled its expected target,
contributing 16% of total Group PATAMI.
The 2013 Transformation Masterplan oversaw a total of 34 initiatives across
business pillars and support units with direct links to the banks profts. All
business pillars surpassed stretched transformation targets. Community
Financial Services exceeded its target at 158%, followed by Global Banking
at 152% and Insurance and Takaful (General Business only) at 167%. The year
also saw greater progress in our strategic cost management programme,
changing the cost structure of our distribution network and kick-starting cost
restructuring at BII, this initiative exceeded its target at 215%.
The beneft of a clear strategy with a focus on customers and sustainable
fnancial performance has driven growth and created new capabilities across
all sectors.
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TRANSFORMING THE BANKING BUSINESS
Our business pillars CFS and GB have successfully repositioned Maybank as the
go-to bank. Riding on a transformed business model which shifted from product
to customer centricity, we are now harvesting returns from investments in the
SME, Mass and Corporate Banking segments.
In 2013, we continued to build domestic and regional capabilities; strengthening
our product oferings as well as fne tuning our regional platforms to better
service our customers.
The year saw our High Net Worth and Afuent segment outpacing industry
growth estimates. We focused on deposits and investments and grew our market
share of wealth from 10.5% to 12.6%.
We also kick-started two catalytic retail initiatives making an entry to the ASEAN
region: Regional Cards and Regional Wealth Management, each with its own
centres of excellence. Both have achieved good traction against strategic goals
and recorded initial fnancial outcomes.
Moving quickly to support our clients cross-border trade, our web-based
platforms, Regional Trade Finance and Regional Cash Management System, saw
the on-boarding of close to 1,500 new clients in 2013. Enabling our clients to make
regional transactions in all 10 ASEAN countries as well as Greater China, this has
strengthened our capabilities in the regional marketplace.
Underlying all this has been a relentless focus on improving our services:
Operations, Technology and Service Quality have all helped facilitate the
growth of our business. Reengineering and centralising areas of operations saw
improvements in turnaround time, productivity, error rates and operational costs.
We continue to benchmark against industrys best to fortify our operational
strength.
GROWING OUR INSURANCE AND TAKAFUL BUSINESS
We continue to be the undisputed leader in Takaful. Strengthening its No.1
position in General Business, Etiqa has also improved its bancassurance and
agency businesses through innovative products and agency development.
The year saw an extended bancassurance reach through Maybanks network
distribution, capturing the high net worth and mass afuent segments. With the
launch of Smart Retirement Xtra, the penetration rate has increased to more than
40% from a mere 9% in 2012.
In transforming its agency force, the sector continued to recruit quality agents
with higher productivity. We anticipate greater growth in 2014 as we continue to
develop a high performance culture within the agency force.
Pressing forward, we are reviewing our strategy for Etiqa transformation. Much
can be done to drive the business for breakthrough-performance.
OUR STRATEGY
& ACHIEVEMENTS
MANAGING COSTS AND WORKING PRODUCTIVELY
Entering its second year, the Strategic Cost Management Programme drove higher
cost efciencies across all sectors. The Groups overheads are well managed
against net income growth - we have an improved cost to income ratio and
positive JAWs.
In 2013, the programme extended its reach to our Indonesian operations, Bank
Internasional Indonesia (BII). Continuous communications began a cost conscious
culture and total savings for 2013 exceeded IDR70 bio.
Transforming the cost structure in diferent areas of the bank through
streamlining and rationalising areas of the business has resulted in better
efciency and productivity. As an expanded scope, an intensifed focus on
productivity is expected to accelerate cost benefts for the Group.
GLOBAL HIGH PERFORMANCE COMPANY: AN
APPETITE FOR CHANGE
People are at the forefront of our change. Our cultural climate has transitioned
positively over the last fve years of transformation. Constant communications
within the organisation, coaching, leadership thinking development and
functional skills training across all areas enabled Maybankers to drive optimal
results towards our strategic goals.
Soft benefts from our transformation such as trust, new organisational
capabilities and emotional commitment amongst employees created a continuous
readiness for delivering change.
2014: STEERING A WIDER SCOPE IN TRANSFORMATION
This year, the Transformation Ofce took a critical review of the Groups
transformation programme, assessing the progress of all sectors to ensure that
they are on track to meet their commitments to achieve our long term strategic
objectives. All initiatives were measured through value capture or improvements
in service metrics to refect fnancial performance or operational efciency.
Revisions of plans were made to areas which needed improvement.
Our transformation will move into 2014 with a larger portfolio. It will oversee
83 initiatives and includes several new areas such as Finance and Operations
and Productivity as well as cover countries like Malaysia, Indonesia, Singapore,
Greater China and Philippines. Strategic cost management will be adopted at
Etiqa. The intensity with which we focus on execution, resolve critical issues, and
drive up productivity and efciency will increase. Over the years, we have built
a unique ability as an organisation to continuously initiate change in ways that
create advantage, capture opportunities, minimise risk and sustain performance.
We are confdent that we will meet our strategic objectives and continue to
evolve as our business grows.
The above are highlights of Maybank's transformation for 2013. As transformation
has been embedded in each sector, you will fnd more details as you peruse
diferent sections of this report.
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SERVICE QUALITY
Passionately Creating Consistent Customer Delight
Service Quality was previously under ETS in the former Maybank House and is
currently converged into the Group PCEO Ofce to strategically support the
Groups regional aspiration. This positioning gives us the required support to
ensure that all Maybank touch points and products are equated with best in class
service for enhanced customer loyalty.
In 2014, the Group Service Quality Management (GSQM) team will continue to
leverage on the respective strengths of our home markets to further cement our
regional positioning. GSQM will collaborate with other units within Maybank
worldwide to consistently deliver best-in-class customer service moments by
streamlining customer service strategies and enhancing operational excellence.
For 2013, SQ continued to focus and expand on key transformation initiatives,
projects and campaigns from the previous year to further drive consistent and
sustainable customer excellence.
Web-Based Queue Management System
Customer satisfaction continued to be the crux of all that we do. Our
queue management system has been enhanced to further hone the internal
measurements of customers branch banking experience. A 26% improvement
in the 2-minute Average Waiting Time (AWT) is indicative of the success of the
newly enhanced system.
Complaints Handling
2013 saw more business units on board Project GIFT (Get Involved and Follow
Through) to reinforce efciency and consistency in managing customer feedback.
This project aims to improve end-to-end problem resolution by centralising
complaints handling with the Customer Feedback and Resolution Management
(CFRM) team acting as a single point of contact in problem resolution.
External Customer Engagement Survey
Our annual External Customer Engagement Survey (ECES) was conducted to
gauge the extent to which we are aligned and engaged with our customers
on service delivery. A ranking of 8
th
placing among 14 local competitor banks
has provided us with valuable insights on how we can enhance our service
delivery to match the progressive rate of our organisation. The overall
satisfaction score with our centralised problem resolution also recorded a
20% improvement from 2013 with stafs product knowledge, attitude and
services being the most favoured elements of our service recovery.
Strengthening Service Delivery Via Continuous
Learning
Complementing our complaints resolution framework and queue
management system for heightened customer experience is our ongoing
product knowledge project. This project was initiated two years ago to deepen
our frontliners operational and core product knowledge. It is now extended
to our Maybank Group Contact Centre and middle-ofce support centres to
further strengthen our service value chain.
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Region Sarawak took home the Product Knowledge Challenge Trophy for the second consecutive year.
KEY PERFORMANCE
INDICATORS
We track our performance against 10 key fnancial and operational
metrics, to assess our progress in achieving our strategic objectives and
creation of shareholder value.
Key Indicators
RETURN ON EQUITY (ROE)
Met ROE target on the back of higher net income, slower cost growth and
improving asset quality. ROE is defned as proft attributable to shareholders over
the average shareholders equity (comprising share capital, retained earnings and
other reserves) for the fnancial year.
2013 TARGET: 15.0%
ACHIEVEMENT: 15.1%
16.0%
15.1%
FY12
FY13
More on page 66
2013 POLICY: 40% - 60%
ACHIEVEMENT: 71.9%
74.7%
71.9%
FY12
FY13
DIVIDEND PAYOUT RATIO
Dividend payout ratio of 71.9% surpassed the 40-60% policy rate. Dividend
Reinvestment Plan (DRP) continues to strengthen the Group's capital base and
achieves more than 80% take-up rate (based on last seven plans).
More on page 70
POLICY
40% - 60%
TARGET
15%
2013 TARGET: 12.0%
ACHIEVEMENT: 14.0%
12.2%
14.0%
FY12
FY13
GROUP LOANS GROWTH
Group loans exceeded 12.0% target, driven by 17.6% international loans growth,
and 11.9% growth in domestic loans.
More on page 69
GROUP DEPOSITS GROWTH
Group deposits growth surpassed the target set, driven by equally strong
international deposit growth of 14.4% and domestic deposit growth of 14.0%.
2013 TARGET: 12.0%
ACHIEVEMENT: 14.0%
10.3%
14.0%
FY12
FY13
More on page 69
TARGET
12%
TARGET
12%
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2015 Targets
INTERNATIONAL CONTRIBUTION TO
GROUP PROFIT BEFORE TAX (PBT)
PBT contribution from international operations increased with Singapore and
Indonesia being the major contributors at 14.1% and 7.4% respectively.
ISLAMIC FINANCING TO MAYBANK DOMESTIC LOANS
Islamic fnance formed 38.9% of Maybank's domestic group loans and advances,
exceeding our target of 33.0%.
2015 TARGET: 40.0%
ACHIEVEMENT: 30.3%
30.2%
30.3%
FY12
FY13
2015 TARGET: 33.0%
ACHIEVEMENT: 38.9%
30.6%
38.9%
FY12
FY13
More on page 66 More on page 68
SINGAPORE LOANS GROWTH
Singapore loans growth surpassed the target set coming in at 13.6%, fuelled by
15.8% growth in commercial loans and 10.3% growth in consumer loans.
2013 TARGET: 11.0%
ACHIEVEMENT: 13.6%
10.5%
13.6%
FY12
FY13
More on page 69
TOTAL CAPITAL RATIO
Total capital ratio exceeded the minimum regulatory requirement of 8% set by
Bank Negara Malaysia (BNM).
BNM REQUIREMENT: 8.00%
ACHIEVEMENT: 15.66%
15.85%
15.66%
FY12
FY13
More on page 70
2013 TARGET: 12.0%
ACHIEVEMENT: 11.9%
11.8%
11.9%
FY12
FY13
MALAYSIA LOANS GROWTH
Domestic loans grew slightly below target but exceeded industry growth of
10.6%.
More on page 69
INDONESIA LOANS GROWTH
Loans growth exceeded target set with positive contributions from consumer and
business loans, supported by a resilient domestic economy.
2013 TARGET: 22.0%
ACHIEVEMENT: 27.9%
20.8%
27.9%
FY12
FY13
More on page 69
TARGET
12%
TARGET
22%
TARGET
40%
TARGET
8%
TARGET
33%
TARGET
11%
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FIVE - YEAR GROUP
FINANCIAL SUMMARY
GROUP
FY 30 JUNE FP 31 DEC FY 31 DEC
2010 2011 2011
1
2012 2013
OPERATING RESULT (RM' million)
2
Operating revenue 18,560 21,040 12,892 31,227 33,251
Operating proft 5,249 6,135 3,497 7,744 8,730
Proft before taxation and zakat 5,370 6,270 3,571 7,896 8,870
Proft attributable to equity holders of the Bank 3,818 4,450 2,587 5,746 6,552

KEY STATEMENTS OF FINANCIAL POSITION DATA (RM' million)
2
Total assets 336,700 411,254 451,632 494,911 560,443
Financial investments portfolio
3
68,885 76,871 84,669 92,820 107,672
Loans, advances and fnancing 205,894 255,018 276,253 311,825 355,618
Total liabilities 308,035 377,522 415,747 451,096 512,701
Deposits from customers 236,910 282,797 314,692 347,156 395,611
Commitments and contingencies 232,273 292,109 369,792 379,695 433,829
Paid-up capital 7,078 7,478 7,639 8,440 8,862
Shareholders equity 27,877 32,395 34,337 42,095 45,997

SHARE INFORMATION
2
Per share (sen)
Basic earnings 53.9 61.4 34.5 72.7 75.8
Diluted earnings 53.9 61.4 34.5 72.7 75.7
Gross dividend 55.0 60.0 36.0 65.0 53.5
Net assets (sen) 393.9 433.2 449.5 498.8 519.0
Share price as at 31 Dec/30 June (RM) 7.56 8.94 8.58 9.20 9.94
Market capitalisation (RM' million) 53,510 66,855 65,546 77,648 88,088
FINANCIAL RATIOS (%)
2
Proftability Ratios/Market Share
Net interest margin on average interest-earning assets 2.9 2.6 2.5
6
2.6 2.5
Net interest on average risk-weighted assets 3.5 3.6 4.0
6
4.2 4.2
Net return on average shareholders funds 14.5 14.5 15.2
6
16.0 15.1
Net return on average assets 1.2 1.2 1.2
6
1.2 1.2
Net return on average risk-weighted assets 1.6 1.8 2.0
6
2.1 2.2
Cost to income ratio
4
46.5 49.2 49.7 48.6 47.8
Domestic market share in :
Loans, advances and fnancing 17.6 18.1 17.9 18.2 18.4
Deposits from customers - Savings Account 27.7 27.9 27.6 27.7 27.7
Deposits from customers - Current Account 20.5 20.7 19.5 20.2 20.4

CAPITAL ADEQUACY RATIOS (%)
CET 1 Capital Ratio - - - - 11.253
Tier 1 Capital Ratio - - - - 13.059
Total Capital Ratio - - - - 15.664
Core Capital Ratio
5
(after deducting proposed fnal dividend) 10.1 - 11.0 11.2 - 11.8 11.0 - 11.7 12.8 - 13.5 -
Risk-Weighted Capital Ratio
5

ASSET QUALITY RATIOS
2
Net impaired loans/non-performing loans ratio (%) 1.22 2.25 1.86 1.09 0.95
Loan loss coverage (%) 124.5 82.3 86.9 105.6 107.5
Net loans to deposit ratio (%) 86.8 90.2 87.8 89.8 89.9
Deposits to shareholders fund (times) 8.5 8.7 9.2 8.2 8.6

VALUATIONS ON SHARE
2
Gross dividend yield (%) 7.3 6.7 4.2 7.1 5.4
Dividend payout ratio (%) 76.5 74.9 79.9 74.7 71.9
Price to earnings multiple (times) 14.0 14.6 24.9 12.7 13.1
Price to book multiple (times) 1.9 2.1 1.9 1.8 1.9
1 The results consist of six months fnancial period ended 31 December 2011 due to the change of fnancial
year end from 30 June to 31 December.
2 FY2012 fgures were restated due to the changes in accounting policies.
3 Financial investments portfolio consists of fnancial assets at fair value through proft or loss, fnancial
investments available-for-sale and fnancial investments held-to-maturity.
4 Cost to income ratio is computed using total cost over the net income. The total cost of the Group is the
total overhead expenses, excluding amortisation of intangible assets for PT Bank Internasional Indonesia
Tbk and Maybank Kim Eng Holdings Limited.
5 The capital adequacy ratios for Dec 2012, Dec 2011, June 2011 and June 2010 present the two range of
extreme possibilities, i.e.
(i) where the full electable portion is not reinvested; and
(ii) where the full electable portion is reinvested into new ordinary shares in accordance with the Dividend
Reinvestment Plan.
6 Annualised.
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GROUP
FY 30 JUNE FP 31 DEC FY 31 DEC
2010 2011 2011
1
2012 2013
OPERATING RESULT (RM' million)
2
Operating proft 5,249 6,135 3,497 7,744 8,730

KEY STATEMENTS OF FINANCIAL POSITION DATA (RM' million)
2
Total assets 336,700 411,254 451,632 494,911 560,443
Financial investments portfolio
3
68,885 76,871 84,669 92,820 107,672
Loans, advances and fnancing 205,894 255,018 276,253 311,825 355,618
Total liabilities 308,035 377,522 415,747 451,096 512,701
Deposits from customers 236,910 282,797 314,692 347,156 395,611
Commitments and contingencies 232,273 292,109 369,792 379,695 433,829
Paid-up capital 7,078 7,478 7,639 8,440 8,862
Shareholders equity 27,877 32,395 34,337 42,095 45,997

SHARE INFORMATION
2
Per share (sen)
Basic earnings 53.9 61.4 34.5 72.7 75.8
Diluted earnings 53.9 61.4 34.5 72.7 75.7
Gross dividend 55.0 60.0 36.0 65.0 53.5
Net assets (sen) 393.9 433.2 449.5 498.8 519.0
Share price as at 31 Dec/30 June (RM) 7.56 8.94 8.58 9.20 9.94
Market capitalisation (RM' million) 53,510 66,855 65,546 77,648 88,088
FINANCIAL RATIOS (%)
2
Proftability Ratios/Market Share
Net interest margin on average interest-earning assets 2.9 2.6 2.5
6
2.6 2.5
Net interest on average risk-weighted assets 3.5 3.6 4.0
6
4.2 4.2
Net return on average shareholders funds 14.5 14.5 15.2
6
16.0 15.1
Net return on average assets 1.2 1.2 1.2
6
1.2 1.2
Net return on average risk-weighted assets 1.6 1.8 2.0
6
2.1 2.2
Cost to income ratio
4
46.5 49.2 49.7 48.6 47.8
Domestic market share in :
Loans, advances and fnancing 17.6 18.1 17.9 18.2 18.4
Deposits from customers - Savings Account 27.7 27.9 27.6 27.7 27.7
Deposits from customers - Current Account 20.5 20.7 19.5 20.2 20.4

CAPITAL ADEQUACY RATIOS (%)
CET 1 Capital Ratio - - - - 11.253
Tier 1 Capital Ratio - - - - 13.059
Total Capital Ratio - - - - 15.664
Core Capital Ratio
5
Risk-Weighted Capital Ratio
5

ASSET QUALITY RATIOS
2
Net impaired loans/non-performing loans ratio (%) 1.22 2.25 1.86 1.09 0.95
Loan loss coverage (%) 124.5 82.3 86.9 105.6 107.5
Net loans to deposit ratio (%) 86.8 90.2 87.8 89.8 89.9
Deposits to shareholders fund (times) 8.5 8.7 9.2 8.2 8.6

VALUATIONS ON SHARE
2
Gross dividend yield (%) 7.3 6.7 4.2 7.1 5.4
Dividend payout ratio (%) 76.5 74.9 79.9 74.7 71.9
Price to earnings multiple (times) 14.0 14.6 24.9 12.7 13.1
Price to book multiple (times) 1.9 2.1 1.9 1.8 1.9
BANK
FY 31 DEC
2012 2013
17,079 18,723
5,498 6,127
5,498 6,127
4,306 4,886

342,557 397,779
60,643 75,433
214,852 237,971
305,661 357,279
237,402 273,670
338,799 399,786
8,440 8,862
36,895 40,500

54.5 56.5
54.5 56.5
65.0 53.5
437.1 457.0
- -
- -
2.1 2.0
3.1 3.1
13.8 12.9
1.3 1.3
2.2 2.3
43.3 40.5
18.2 18.4
27.7 27.7
20.2 20.4

- 15.925
- 15.925
- 15.925
16.3 - 17.3 -
16.3 - 17.3 -

1.12 0.94
106.8 116.2
90.5 87.0
6.4 6.8

- -
- -
- -
- -
Proft Before Taxation and Zakat
RM8.87 billion
Proft Attributable to Equity Holders of the Bank
RM6.55 billion
5.37
6.27
3.57
7.90
8.87
FY10
FY11
FP11
FY12
FY13
FY10
FY11
FP11
FY12
FY13
3.82
4.45
2.59
5.75
6.55
FY10
FY11
FP11
FY12
FY13
FY10
FY11
FP11
FY12
FY13
336.7
411.3
451.6
494.9
560.4
308.0
377.5
415.7
451.1
512.7
Total Assets
RM560.4 billion
Total Liabilities
RM512.7 billion
FY10
FY11
FP11
FY12
FY13
FY10
FY11
FP11
FY12
FY13
205.9
255.0
276.3
311.8
355.6
236.9
282.8
314.7
347.2
395.6
Loans, Advances and Financing
RM355.6 billion
Deposits from Customers
RM395.6 billion
FY10
FY11
FP11
FY12
FY13
FY10
FY11
FP11
FY12
FY13
27.9
32.4
34.3
42.1
46.0
7.1
7.5
7.6
8.4
8.9
Shareholders Equity
RM46.0 billion
Paid-up Capital
RM8.9 billion
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SIMPLIFIED GROUP STATEMENTS
OF FINANCIAL POSITION
RM560.4 BILLION RM494.9 BILLION
RM560.4 BILLION
ASSETS ASSETS
LIABILITIES &
SHAREHOLDERS
EQUITY
LIABILITIES &
SHAREHOLDERS
EQUITY
RM494.9 BILLION
Cash and short-term funds
Deposits and placements
with financial institutions
Financial investments
portfolio
Loans, advances and
financing
Other assets
Statutory deposits with
central banks
Deposits from customers
Deposits and placements from
fnancial institutions
Other liabilities
Subordinated obligations
and capital securities
Share capital
Reserves
Noncontrolling
interests
As at 31 December 2013
1
1
8.5%
6.6% 6.8%
8.0%
1.3%
0.3% 0.3%
2.4%
19.2%
70.6% 70.2%
18.8%
63.5%
7.5%
6.8%
63.0%
5.0%
10.1%
10.2%
5.3%
2.5%
1.6% 1.7%
3.3% 4.0%
2.5%
1
FY2012 fgures were restated due to the changes in accounting policies.
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GROUP QUARTERLY
FINANCIAL PERFORMANCE
FY 31 Dec 2013
RM million Q1 Q2 Q3 Q4 YEAR
Net interest income
(including income from Islamic banking business) 3,047 3,048 3,127 3,173 12,395
Net (loss)/income from insurance/takaful business (78) (55) 209 185 261
Operating proft 2,091 2,047 2,308 2,284 8,730
Earnings per share (sen) 17.89 18.25 20.07 19.58 75.79
Dividend per share (sen) - 22.50 - 31.00 53.50
FY 31 Dec 2012
1
RM million Q1 Q2 Q3 Q4 YEAR
Net interest income
(including income from Islamic banking business) 2,759 2,874 2,931 2,929 11,493
Net (loss)/income from insurance/takaful business (253) 21 (8) 192 (48)
Operating proft 1,860 1,979 1,989 1,916 7,744
Earnings per share (sen) 17.62 18.64 19.13 17.30 72.69
Dividend per share (sen) - 32.00 - 33.00 65.00

1
The results were restated due to the changes in accounting policies.
FY 31 Dec 2012
1
FY 31 Dec 2013
Efective Interest Efective Interest
As at 31 Interest Income / As at 31 Interest Income /
December Rate Expense December Rate Expense
RM million % RM million RM million % RM million

Interest earning assets
Loans, advances and fnancing 311,825 6.38 15,199 355,618 5.09 16,556
Cash and short-term funds & deposits
and placements with fnancial institutions 51,968 1.79 824 55,224 2.18 961
Financial assets at fair value through proft or loss 29,157 3.89 688 19,167 3.95 681
Financial investments available-for-sale 60,792 3.38 1,804 82,837 3.76 2,306
Financial investments held-to-maturity 2,871 3.56 327 5,668 5.23 141

Interest bearing liabilities
Deposits from customers 347,156 1.78 5,946 395,611 1.96 6,909
Deposits and placements from fnancial institutions 33,887 2.03 861 42,139 1.60 900
Borrowings 10,714 3.29 389 13,322 3.24 432
Subordinated obligations 13,510 4.46 562 12,645 5.36 561
Capital securities 6,150 6.54 401 5,921 6.54 385

KEY INTEREST BEARING ASSETS
AND LIABILITIES
1
FY2012 fgures were restated due to the changes in accounting policies.
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STATEMENT OF
VALUE ADDED
FY 31 Dec FY 31 Dec
2012
1
2013
VALUE ADDED RM000 RM000

Net interest income 9,296,685 9,585,280
Income from Islamic Banking Scheme operations 2,196,259 2,810,182
Net income/(loss) from insurance/takaful business (48,336) 260,836
Non-interest income 5,328,710 5,882,062
Overhead expenses excluding personnel expenses, depreciation and amortisation (3,153,664) (3,508,866)
Allowances for impairment losses on loans, advances and fnancing, net (679,247) (729,586)
Allowances for impairment losses on fnancial investments, net (117,826) (150,522)
Share of profts in associates and joint ventures 152,476 139,267
Value added available for distribution 12,975,057 14,288,653

FY 31 Dec FY 31 Dec
2012
1
2013
DISTRIBUTION OF VALUE ADDED RM000 RM000
To employees:
Personnel expenses 4,708,888 4,943,884
To the Government:
Taxation 1,977,618 2,098,261
To providers of capital:
Dividends paid to shareholders 3,944,958 4,365,481
Non-controlling interests 172,764 218,942
To reinvest to the Group:
Depreciation and amortisation 369,867 475,175
Retained profts 1,800,962 2,186,910
Value added available for distribution 12,975,057 14,288,653
To employees
Personnel expenses
To the Government
Taxation
To providers of capital
Dividends paid to shareholders
Non-controlling interests
To reinvest to the Group
Depreciation and amortisation
Retained profts
4,943,884
2,098,261
4,584,423
2,662,085
4,708,888
4,117,722
2,170,829
1,977,618
FY 31 Dec 2012
1
FY 31 Dec 2013
1
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SEGMENTAL
INFORMATION
ANALYSIS BY GEOGRAPHICAL LOCATION
FY 31 Dec 2012
1
FY 31 Dec 2013

NET INCOME RM000 Composition RM000 Composition
1 Malaysia 10,868,696 64.8% 12,162,821 65.6%
2 Singapore 2,463,826 14.7% 2,732,243 14.7%
3 Indonesia 2,526,750 15.1% 2,511,268 13.5%
4 Other Locations 914,046 5.4% 1,132,028 6.2%
16,773,318 100.0% 18,538,360 100.0%

PROFIT BEFORE TAXATION AND ZAKAT
1 Malaysia 5,510,254 69.8% 6,179,546 69.7%
2 Singapore 1,139,771 14.4% 1,251,904 14.1%
3 Indonesia 554,199 7.0% 658,575 7.4%
4 Other Locations 692,078 8.8% 779,569 8.8%
7,896,302 100.0% 8,869,594 100.0%
ANALYSIS BY ACTIVITY
FY 31 Dec 2012
1
FY 31 Dec 2013

NET INCOME RM000 RM000
1 Community Financial Services 6,870,524 7,318,023
2 Global Banking 5,291,516 5,502,215
3 International Banking 5,137,066 5,330,225
4 Insurance, Takaful and Asset Management 1,402,501 1,551,759
5 Head Ofce and Others (1,928,289) (1,163,862)
16,773,318 18,538,360
PROFIT BEFORE TAXATION AND ZAKAT
1 Community Financial Services 3,024,238 3,224,468
2 Global Banking 3,809,147 3,472,527
3 International Banking 2,293,605 2,536,707
4 Insurance, Takaful and Asset Management 697,601 799,754
5 Head Ofce and Others (1,928,289) (1,163,862)
7,896,302 8,869,594
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MAYBANK
SHARE
NET DIVIDEND PER SHARE
FY2013 53.5 sen
FY2012 52.5 sen
Y-o-Y +1.9%
SHARE PRICE
31 Dec 13 RM9.94
31 Dec 12 RM9.20
Y-o-Y +8.0%
MARKET CAPITALISATION
31 Dec 13 RM88.1 bil
31 Dec 12 RM77.6 bil
Y-o-Y +13.5%
EARNINGS PER SHARE
FY2013 75.8 sen
FY2012 72.7 sen
Y-o-Y +4.3%
TOTAL SHAREHOLDER
RETURN
FY2013 14.30%
FY2012 15.60%
Y-o-Y -1.30%
In 2013, Maybanks share price movement largely moved in tandem with the FBMKLCI Index. Maybanks
share price hit a high of RM10.74 on 24 July 2013, driven by sustained buying interests in the second
quarter of 2013. Meanwhile, the Malaysian stock market ended 2013 on a positive note, with the FBMKLCI
Index reaching its high of 1872.52 points on 30 December 2013.
Maybanks share price rose 10.1% from RM9.03 on 2 January 2013 to RM9.94 on 31 December 2013. This
was in line with the full-year increase seen in both the FBMKLCI Index (11.5%) and KL Finance Index
(11.2%).
The local bourses performance was lacklustre for the frst quarter of 2013, as investors took a cautious
stance and pared down their stock holdings while buyers stayed on the sidelines in anticipation of the 13th
Malaysian General Election (GE). The FBMKLCI Index hit a low of 1613.33 points on 20 February 2013, a day
after Maybank slipped to its lowest price of RM8.84 for 2013.
Although market conditions remained challenging for the region moving into the second half of 2013,
local market sentiment improved as investment spending and corporate activity picked up on the back of
greater visibility post GE.
MAYBANK SHARE PRICE VS BENCHMARK
20.0%
15.0%
10.0%
5.0%
0.0%
-5.0%-
10.0%
Dec '12 Feb '13 Apr '13 Jun '13 Aug '13 Oct '13 Dec '13
Maybank FBMKLCI Index BM Finance Index
TOTAL SHAREHOLDER RETURN (TSR)
TSR is the measure of our enhancement of shareholder value that measures total return arising from capital gains (share price increase) and dividends.
FY07 FY08 FY09 FY10 FY11 CY11 FY12 FY13
Maybank 19.30% -21.43% -3.88% 31.69% 28.13% 8.37% 15.60% 14.30%
FBM KLCI Index 54.30% -8.20% -5.26% 26.09% 24.83% 4.45% 14.27% 14.11%
Bursa Malaysia Finance Index 53.23% -19.79% 1.70% 43.81% 32.86% 4.58% 16.99% 15.09%
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1 30 Sep 08 Completes acquisition of BII
2 29 Apr 09 Maybank completes rights issue of RM6 billion
3 25 Aug 09 Announces FY09 results
4 21 Apr 10 BII completes rights issue of Rp1.4 trillion
6 12 Nov 10 Announces 1QFY11 results
7 6 Jan 11 Kim Eng acquisition announced
8 21 Feb 11 Announces 2QFY11 results
9 12 May 11 Announces 3QFY11 results
10 4 Aug 11 Completes acquisition of Kim Eng
12 14 Nov 11 Announces 1QFP11 results
13 23 Feb 12 Announces FP11 results
15 16 Aug 12 Announces 2QFY12 results
16 8 Oct 12 Equity private placement of RM3.66 billion
20 23 July 13 BII completes rights issue of Rp1.5 trillion
21 21 Aug 13 Announces 2QFY13 results
MAYBANK SHARE PRICE AND VOLUME PERFORMANCE
10.50
9.50
8.50
7.50
6.50
5.50
4.50
3.50
2.50
70
60
50
40
30
20
10
Jun '09 Dec '08 Dec '09 Jun '10 Jun '13 Dec '11 Dec '10 Dec '13 Jun '12 Dec '12 Jun '11
Volume (million shares) Share Price (RM) Share Price
(RM)
Daily Trading
Volume (million
shares)
3
2
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
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Gross Dividend (sen) and Payout Ratio (%)
*Reinvestment rate
SHAREHOLDER ANALYSIS
Maybank has a diversifed shareholder base with 59,075 shareholders
worldwide as at 31 December 2013.
Analysis of the institutional shareholder structure (excluding substantial
shareholders) shows that 18.4% of the shareholding comes from Asia,
followed by 8.7% from North America, 3.7% from the UK, 2.0% from Europe
(excluding the UK), and 9.1% from other geographical locations.
Institutional investors mostly held Maybank shares at 90.8%, followed by
private investors at 2.3% while the remaining shares were owned by others.
Analysis of shareholders by style shows that 67.6% are core/style neutral
funds, 5.1% are index funds, 4.3% are value funds, 3.7% are multi style funds,
2.0% are quant funds, 1.4% are growth oriented and 15.9% are made up of
other investment styles.
Foreign shareholding was at 21.7% as at end December 2013 from 19.5% a
year before.
MAYBANK
SHARE
DIVIDEND POLICY
The Group adopts a dividend policy with a Dividend Payout Ratio of between 40%
to 60% of full year earnings attributable to shareholders.
DIVIDEND AND DIVIDEND REINVESTMENT PLAN
For 2013, the Board of Directors proposes a net dividend of 53.5 sen, which
translates to a dividend payout ratio of 71.9%.
The Group will strive to reward shareholders while being prudent in preserving
capital through the Dividend Reinvestment Plan (DRP). The DRP exercises have
achieved high reinvestment rates of between 85.7% and 91.1% in the seven DRPs
so far, refecting shareholders confdence in Maybank.
The DRP will continue to be an integral part of Maybanks strategy to preserve
equity capital whilst providing healthy dividend income to shareholders.
ECONOMIC PROFIT
The Putrajaya Committee on GLC High Performance (PCG) spearheads the
GLC Transformation Programme to develop high-performing entities for the
future prosperity of Malaysia.
Economic Proft is a key measurement of shareholder value creation,
proposed by the PCG Secretariat to show a companys return over and above
its cost of capital. Maybank has tracked its Economic Proft performance
since 2005.
For 2013, Maybanks Economic Proft was down 12.2% to RM1.95 billion from
RM2.22 billion in the previous fscal year due to higher cost of equity in 2013.
Economic Proft (RM' million)
*Unaudited
930
1,023
1,610
1,101
-1,481
1,362
1,745
2,063
2,223
1,954
2,500
2,000
1,500
1,000
500
0
-500
-1,000
-1,500
FY05 FY06 FY07 FY08 FY09 FY10 FY11 CY11* FY12 FY13
FY08
60.0%
44.0
8.0
53.0
60.0
36.0
65.0
53.5
61.0%
76.5%
74.9%
79.9%
74.7%
FY09 FY10 FY11 FP11 FY12 FY13
2
6
8
4
4
8
8
.
6
%
*
1
1
2
8
3
2
8
6
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*
9
1
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%
*
3
6
8
8
.
5
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*
3
2
8
8
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2
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*
3
3
8
5
.
7
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*
3
1
1
8
2
2
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5
8
5
.
9
%
*
71.9%
Final Interim Dividend payout ratio
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Total Shareholders
Foreign Shareholding
AMERICAN DEPOSITORY RECEIPTS (ADRs)
Maybank has been traded in the US since 2005 through a NYSE-listed sponsored ADR
facility with The Bank of New York Mellon as the depository in an efort to diversify and
increase US ownership as well as improve Maybanks profle in the US market. The ADRs
are traded on the New York Stock Exchange under the ticker MLYBY US on Bloomberg and
MLYBY.PK on Reuters.
CREDIT RATING
Maybank continued to retain its credit ratings on par with Malaysias sovereign rating
during the fnancial period with strong fundamentals.
The outlook for the long-term credit ratings for Maybank was upgraded to Positive by
Moodys Investors Service, maintained as Stable by three rating agencies and reduced
to Negative by Fitch Ratings, in line with the rating agencys downgrade of Malaysias
credit rating outlook in July 2013.
Maybank is regularly in contact with its credit rating agencies as well as regulators to
ensure continued adoption of prudent capital management practices, and remains
committed to maintaining its investment grade credit ratings.
58,201 59,075
59,596
62,160
58,390
62,547
52,660
34,959
Others 9.1%
Euro Excluding UK 2.0%
UK 3.7%
North America 8.7%
Asia excluding Malaysia
3.9%
Malaysia 72.6%
Shareholding by Region
Others 6.9%
Private 2.3%
Institutional 90.8%
Shareholding by Type
Shareholding by Style
Others 15.9%
Growth 1.4%
Quant 2.0%
Multi Style 3.7%
Index 5.1%
Value 4.3%
Core/Style Neutral 67.6%
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
26%
24%
22%
20%
18%
16%
14%
12%
Jan '11 Apr '11 Jul '11 Oct '11 Jan '11 Apr '12 Jul '12 Oct '12 Jan '13 Apr '13 Jul '11 Oct '13 Jan '14
Jun '08 Jun '07 Jun '09 Jun '10 Jun '11 Dec '11 Dec '12 Dec '13

High
25.99%
24 May 2013
19.54%
31 Dec 2012
21.70%
31 Dec 2013
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SHARE
Rating Agency Rating Classifcation Rating Received
Moodys Investors Service Outlook
Foreign Currency Bank Deposit
Local Currency Bank Deposit
Bank Financial Strength Ratings/Outlook
Baseline Credit Assessment
Adjusted Baseline Credit Assessment
Jr Subordinate
Positive
A3/P-2
A1/P-1
C/Positive
(a3)
(a3)
Baa2 (hyb)
Standard & Poors Counterparty Credit Ratings
ASEAN Rating Scale
Preferred Stock
Senior Unsecured (Greater China Regional Scale)
Senior Unsecured
Subordinated
A-/stable/ A2
axAA/--/axA-
BBB-
cnAA
A- / A-2
BBB+
Fitch Ratings Foreign Long-term Issuer Default Ratings
Local Currency Long-term Issuer Default Ratings
Viability Rating
Support Rating
Support Rating Floor
Long-term deposits
Senior unsecured notes
Subordinated Tier 2 notes (USD and SGD)
Hybrid Tier 1 notes (SGD Tier 1 Capital Securities)
A-/Negative
A-/Negative
a-
2
BBB
A
A-
BBB+
BB+
RAM Ratings National Scale Financial Institution Ratings
Long-term Financial Institution Ratings
Short-term Financial Institution Ratings
Outlook (Long Term)
Issue Ratings
Subordinated Bonds
Innovative Tier-1 Capital Securities
Non-Innovative Tier-1 Capital Securities
Tier-2 Capital Subordinated Note Programme
ASEAN Scale Financial Institution Ratings
Long Term Financial Institution Ratings
Short Term Financial Institution Ratings
Outlook (Long Term)
AAA
P1
Stable
AA1
AA2
AA2
AA1
sea
AAA
sea
P1
Stable
Malaysian Rating Corporation Bhd (MARC) Long-term Financial Institution Ratings
Short-term Financial Institution Ratings
Outlook
AAA
MARC-1
Stable
FY2007 FY2008 FY2009 FY2010 FY2011 FP2011 FY2012 FY2013
Market Capitalisation (RM' billion) 46.7 34.4 41.8 53.5 66.9 65.5 77.6 88.1
Total Shareholder Return, TSR (%) 19.3 -21.4 -3.9 31.7 28.1 -0.16 15.6 14.3
Gross dividend per share (sen) 57.5 44.0 8.0 55.0 60.0 36.0 65.0 53.5
Dividend yield (%) 6.7 7.4 1.4 7.3 6.7 4.3 6.2 5.5
Closing Price, 31 Dec (RM) 8.62 6.33 5.9 7.56 8.94 8.58 9.20 9.94
Average share price (RM) 8.46 8.00 5.25 6.94 8.60 8.45 8.50 9.80
Highest closing share price (RM) 9.84 9.20 7.14 7.72 9.29 8.99 9.20 10.74
Lowest closing share price (RM) 7.47 6.33 3.57 5.60 7.53 7.51 7.59 8.84
Basic EPS (sen) 58.5 53.3 12.0 53.9 61.4 32.4 72.7 75.8
Note: Adjusted for 1:4 Bonus Issue in February 2008 and 9:20 Rights Issue at RM2.74 in March 2009
SHARE RELATED KEY FIGURES
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DIVIDEND HISTORY
Dividend per
share (sen)
DRP*
Electable portion
+ Cash (sen) Declaration Ex-Date Record Payment Date
FY2009 9:20 Rights 1 Mar 2009 31 Mar 2009 2 Apr 2009
Final 8.0 25 Aug 2009 13 Oct 2009 15 Oct 2009 27 Oct 2009
Total 8.0
FY2010 Interim 11.0 9 Feb 2010 2 Mar 2010 4 Mar 2010 16 Mar 2010
Final 44.0 40+4 20 Aug 2010 18 Nov 2010 22 Nov 2010 20 Dec 2010
Total 55.0
FY2011 Interim 28.0 24+4 21 Feb 2011 12 Apr 2011 14 Apr 2011 12 May 2011
Final 32.0 28+4 22 Aug 2011 25 Nov 2011 30 Nov 2011 28 Dec 2011
Total 60.0
FP2011 Final 36.0 32+4 23 Feb 2012 27 Apr 2012 2 May 2012 4 Jun 2012
Total 36.0
FY2012 Interim 32.0 28+4 16 Aug 2012 20 Sep 2012 24 Sep 2012 25 Oct 2012
Final 33.0 29+4 21 Feb 2013 25 April 2013 29 April 2013 29 May 2013
Total 65.0
FY2013 Interim 22.5 16+6.5 21 Aug 2013 24 Sep 2013 26 Sep 2013 25 Oct 2013
Final 31.0 27+4 27 Feb 2014
Total 53.5
OTHER INFORMATION
Financial Year End
31 December
Foreign Shareholding
31 December 2013 21.70%
31 December 2012 19.54%
Ticker Code
Bursa Malaysia MYX:1155
Bloomberg MAY MK EQUITY
Reuters MBBM.KL
American Depository Receipts (ADR)
Bloomberg MLYBY US
Reuters MLYBY.PK
Share Registrar
Tricor Investor Services Sdn Bhd
(formerly known as Tenaga Koperat Sdn Bhd)
Level 17, The Gardens North Tower
Mid Valley City, Lingkaran Syed Putra
59200 Kuala Lumpur
Malaysia
* Dividend Reinvestment Plan
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MAYBANK
IN THE NEWS January
February
March
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MAYBANK
IN THE NEWS
July
August
September
Headline Maybank, VW in tie-up with auto event
MediaTitle Malaysian Reserve
Date 05 Sep 2013 Color Full Color
Section Trend Circulation 10,500
Page No L-24 Readership 42,000
Language English ArticleSize 294 cm
Journalist John Gilbert AdValue RM 2,720
Frequency Daily PR Value RM 8,160
Headline MAYBANK HOLDS RAYA OPEN HOUSE
MediaTitle New Straits Times
Section Streets Central Circulation 95,860
Page No L-12 Readership 236,000
Journalist N/A AdValue RM 18,988
Headline Maybank taps UK property financing
MediaTitle Malay Mail
Section Business Circulation 35,000
Page No 19 Readership 105,000
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October
November
December
Headline Bll to tap India-Asean trade ties
MediaTitle The Star
Date 22 Oct 2013 Color Full Color
Section StarBiz Circulation 298,821
Page No 4 Readership 1,839,000
Headline Maybank to light up Asia with Project H.E.A.R.T.
MediaTitle Borneo Post (Kuching)
Date 26 Oct 2013 Color Black/white
Section Home Circulation 88,150
Headline Malayan Banking Bhd
MediaTitle Focus Malaysia
Date 12 Oct 2013 Color Full Color
Section News Circulation 20,000
Frequency Weekly PR Value RM 4,048
Headline Milestone for Maybank
MediaTitle Malay Mail
Date 18 Oct 2013 Color Black/white
Headline Kamaludin appointed CEO of Maybank Ageas
Date 05 Dec 2013 Color Full Color
Section Business Times Circulation 95,860
Page No B5 Readership 236,000
Headline Three pillars of strength
MediaTitle The Star
Date 09 Dec 2013 Color Black/white
Page No 1,5 Readership 1,839,000
Journalist DAUIT DHESI AdValue RM 5,295
Headline Maybank moratorium for flood affected customers
Date 06 Dec 2013 Color Full Color
Journalist MUHAMMED AHMAD HAMDAN AdValue RM 6,695
Headline Maybank to boost US ops with new services
Date 08 Nov 2013 Color Full Color
Headline Maybank CRO named Bank Risk Manager of The Year
MediaTitle Borneo Post (Kuching)
Date 15 Nov 2013 Color Black/white
Headline Farid's strategy for Maybank
MediaTitle The Star
Page No 1,2 Readership 1,839,000
Journalist Izwan Idris AdValue RM 28,113
Headline Record Q3 net profit
Journalist Zaidi Isham Ismail AdValue RM 7,830
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RADIO BFM
14 MARCH 2013
Maybank expects its debit card billings to rise by
at least 34% in 2013 to RM6 billion. The increase
will be spurred by new products such as the
Maybank Superman Visa Debit Card and increasing
promotions and customer awareness.
TV3
10 APRIL 2013
Maybank targets RM275 million in sales from its
closed-ended investment-linked insurance product,
Maybank Luxury Edition, by the time the fund closes
on 7 May 2013.
TV3
2 MAY 2013
Maybank was ranked as the 13th strongest bank in
the world by Bloomberg Markets.
TV1
21 AUGUST 2013
Maybank records Proft Before Tax of RM4.22
billion for the frst half of its fnancial year 2013.
The Groups proft increased by 7.5% compared to
RM3.92 billion in the previous corresponding period.
RADIO BFM
26 AUGUST 2013
Maybank Investment Bank, which turns 40 this year,
plans to expand operations into Laos and Cambodia
after successfully completing its integration with
Kim Eng Holdings.
ASTRO AWANI
22 OCTOBER 2013
Maybank opens its frst branch in Mumbai, India.
ASTRO AWANI
6 NOVEMBER 2013
Maybank New York shifts to a new ofce in Park
Avenue, New York. Its new ofce is within close
proximity of other prominent fnancial institutions
such as JPMorgan Chase, UBS and Citigroup.
TV2
21 NOVEMBER 2013
Maybanks pre-tax proft for its third quarter ended
30 September 2013 rose to RM2.35 billion from
RM2.03 billion in the same quarter last year.
TELEVISION
MAYBANK
IN THE NEWS
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SOCIAL MEDIA
Maybank embarked on the
digital and social media
marketing scene 3 years ago
in 2011 and has quickly made
its mark as a leader in the
digital feld. Among other
awards, Maybank was awarded
the most Socially Devoted
Brand Overall in Malaysia
and Number 1 Globally for a
Financial Institution by Social
Bakers in 2013.
15 MAY 2013
Our customers at Manchester United
2 MAY 2013
Donation to Tabung Wira Lahad Datu
26 AUGUST 2013
Maybank Investment Bank opens new
branch
5 JUNE 2013
Day at the Zoo Camp with Maybank Foundation
2 AUGUST 2013
Maybank announces its new President & CEO
8 OCTOBER 2013
Maybank Facebook Page achieves 1 million Likes
16 APRIL 2013
Launch of Maybank2u Pay
27 JUNE 2013
Maybank Scholarship Award
Ceremony
3 JULY 2013
Maybank Go Ahead
Challenge Heats Up!
17 JUNE 2013
Scenes from the BII Maybank Bali
Marathon
11 AUGUST 2013
Maybank PCEO at the Regional
Hari Raya Celebration
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Prize giving ceremony of
Maybank-Pos Malaysia Agent
Banking YouTube Video
Competition
30 JANUARY 2013
Bank Internasional Indonesia (BII) held Gerobak Seru
SME, a food festival participated by potential micro
partners. At the event, BII also ofcially launched its
Micro Agent programme - a mentoring programme
by employees to help and support micro partners in
developing their business.
FEBRUARY
2 FEBRUARY 2013
Maybank Investment Bank launched global trading
for the Kim Eng White Label platform for both
Powerbroking and Maybank2u Online stocks, in line
with Maybank Kim Engs strategy to have a Regional
Integrated Online Trading Platform.
16 FEBRUARY 2013
Following up on its previous partnership in online ticket
payment in 2011, BII continued its strategic partnership
with AirAsia by providing cash management solutions
services through BII CoOLPay, a web based real time
online banking service, for AirAsia and its travel agent
partners.
19 FEBRUARY 2013
Maybank ushered in the Lunar Chinese New Year with
the underprivileged from Ti-Ratana and the House
of Joy. This celebration was part of Maybanks annual
calendar of events to promote greater understanding
and appreciation of Malaysias diverse cultures.
20 FEBRUARY 2013
CashvilleKidz, an exciting animated series that teaches
children about important money management habits,
premiered on pay-tv provider Astro. The series was
jointly developed by Maybank Foundation, Maybanks
corporate responsibility arm, and MoneyTree Malaysia,
Southeast Asias largest fnancial literacy training
provider.
21 FEBRUARY 2013
Maybank reported a record Proft After Tax and
Minority Interest of RM5.74 billion for the year ended 31
December 2012. This was a 17.6% increase from RM4.88
billion recorded for the corresponding period in 2011.
Proft Before Tax for the Group also touched a new high
of RM7.89 billion from RM6.88 billion a year earlier.
21 FEBRUARY 2013
Maybank Kim Eng Singapore launched its share margin
fnancing in US dollar (USD) and Hong Kong dollar
(HKD). The new multi-currency share margin fnancing
facility ofers clients the fexibility to fnance their
foreign currency denominated securities in USD or HKD
to better manage their foreign exchange exposure.
27 FEBRUARY 2013
BII held its BII Maybank Economic Briefng 2013 to
provide macro economy and market condition updates
for corporate customers.
27 FEBRUARY 2013
Four professional golfers namely Sasidaran Muthiah,
Kemarol Baharin, Mohd Hanafah Mohd Jamil and
P.Gunasegaran claimed the coveted slots in the
Maybank Malaysian Open 2013 at the national qualifer
round.
28 FEBRUARY 2013
Maybank Philippines launched Project Blood Bank, an
internal blood donation campaign promoting employee
wellness as well as employee volunteerism by donating
blood to boost blood bank reserves. The campaign was
held in partnership with the Philippine National Red
Cross.
JANUARY
12 JANUARY 2013
Maybank Philippines (MPI) co-hosted the local leg of
the Maybank Malaysia Open 2013 Corporate Challenge,
where a total of 87 MPI customers took part in the
exclusive tournament. The top three winners few to
Malaysia in March to play in the Maybank Corporate
Golf Day in conjunction with the Maybank Malaysian
Open 2013.
15 JANUARY 2013
Maybank and the Badminton Association of Malaysia
(BAM) hosted a welcome reception for the Maybank
Malaysia Open Team 2013. The event, graced by Datin
Paduka Seri Rosmah Mansor, Patron of BAM and wife of
the Malaysian Prime Minister, included a charity auction
organised by Maybank to beneft the Liver Transplant
Centre of Hospital Selayang, which raised RM207,000.
23 JANUARY 2013
Maybank Investment Bank established a USD1.5 billion
Multi-Currency Sukuk Programme for Sime Darby
Global Bhd, which had the lowest ever coupon by any
corporate globally in the USD sukuk market.
25 JANUARY 2013
Maybank Philippines marked the formal inauguration
of the Maybank Corporate Centre with the unveiling of
the building marker, with National Treasurer Rosalia De
Leon as guest of honour.
EVENT
HIGHLIGHTS
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7 MARCH 2013
Maybank commemorated International Womens Day
by hosting a forum entitled Using your strengths
to build a powerful workforce, aimed to examine
issues pertaining to competition at the workplace
and empowering women to use their strengths in
supporting the organisations growth. The forum
saw three leading speakers, Ms Lola Chetti, a people
development consultant, executive coach and volunteer
for the UNHCR at a refugee centre, Dato Noorizah Hj
Abd Hamid, MD/CEO of PLUS Malaysia Bhd as well
as Nora Manaf, Group Chief Human Capital Ofcer,
Maybank share their thoughts on a wide range of issues
to empower women to be future leaders.

14 MARCH 2013
Maybank Philippines hosted the 2
nd
Maybank Economic
Briefng in Manila, with the theme Strengthening
Global Recovery amid Ample Liquidity. Maybank
customers were briefed on local and regional equities,
foreign exchange, fxed income and the global economic
landscape.
18 MARCH 2013
BII launched a strategic partnership with Koperasi
Simpan Pinjam Jasa to provide cash management
services through BII CoOLBanking.
19 MARCH 2013
Eight of Maybanks corporate clients together
with world renowned golfers Luke Donald, Padraig
Harrington, Matteo Manassero and Charl Schwartzel
participated in the Star Experience for Charity golf
game as part of a charity initiative for the Maybank
Malaysian Open 2013. Each amateur golfer pledged
RM5,000 to Make-A-Wish Malaysia, a foundation which
helps to make dreams come true for children with life-
threatening medical conditions. Maybank Foundation
matched the amount raised with another RM40,000,
raising a total of RM80,000.
24 MARCH 2013
Thai golfer Kiradech Aphibarnrat sealed his
masterful performance at the Maybank Malaysian
Open 2013, fnishing one stroke ahead of the
competition to win the Seagram Cup with a score of
13 under par at the Maybank Malaysian Open 2013
held from 21
st
to 24
th
March 2013.
27 MARCH 2013
Maybank Kim Eng Hong Kong launched an internet
trading platform for mainland Chinese investors to
trade Hong Kong stocks.
APRIL
3 APRIL 2013
Maybank signed a Memorandum of Understanding
with the Institute of Bankers Malaysia (IBBM) to
enable its Group employees to enrol into world
class certifed professional courses ofered by the
Institute. Under the MoU, Maybank will collaborate
with IBBM to undertake initiatives in areas of
professional growth, specifcally in learning and
development programmes in banking and fnance,
including the Chartered Banker Programme.
3 APRIL 2013
BII introduced BII Mobile Banking application on an
Android platform.
MARCH
1 MARCH 2013
Maybank Cambodia made a contribution of USD5,000
to the Kantha Bopha Hospital Siem Reap to support its
work in saving the lives of thousands of children every
month.
2 MARCH 2013
Maybank Singapore CEO, Pollie Sim, presented
transport grants to 407 secondary school students to
help them cope with rising transport costs. The event
was graced by Senior Minister of State, Ministry of
Law and Education, Ms Indranee Rajah, and Mayor of
Central Singapore District, Mr Sam Tan. A pilot Maybank
Mentorship Programme was also launched in which 30
Maybank staf volunteered to mentor 35 students, who
were also transport grant recipients, to help build their
self-confdence and leadership.
6 MARCH 2013
More than 80 corporate associates, clients and business
partners of Etiqa took part in the annual Etiqa & Friends
Golf Tournament for the fourth time at its home club in
Kelab Golf Seri Selangor.

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13 MAY 2013

More than 550 children of Maybank employees were
awarded with the Maybank Group Stafs Children
Academic Excellence Awards, with cash awards totalling
over RM300,000. The cash rewards were given out
to students who excelled in the PMR, SPM and STPM
examination for 2012.
15 MAY 2013
Maybank President & CEO Dato Sri Abdul Wahid Omar
was appointed as Minister in the Prime Ministers
Department by the Prime Minister of Malaysia.
18 MAY 2013
A model of Menara Maybank was unveiled at
LEGOLAND Malaysia, signifying the status of
Maybank as the ofcial retail bank for LEGOLAND
Malaysia as well as its reputation as one of the iconic
buildings in Malaysia.
18 MAY 2013
Maybank Singapore was conferred the Excellence Award
by the Peoples Association (PA) for the PA Community
Spirit Awards 2013 Partners of Community
Development Council. This is the third consecutive year
Maybank received this award, and it is the only bank to
receive the award in this category.
18 MAY 2013

Maybank (Cambodia) Plc. participated in a Helmets for
Kids programme in collaboration with the Asian Injury
Prevention Foundation, where it presented helmets to
teachers and children from the Prey Sandek Primary
School in Takeo province as part of a Road Safety
Awareness programme.
EVENT
HIGHLIGHTS
3-6 APRIL 2013

Maybank Islamic launched its SME Islamic Financial
Solutions, at an event graced by Dato Sri Mustapha
Mohamed, the Minister of International Trade and
Industry.
4 APRIL 2013
BII launched a strategic partnership with Hekikai
Shinkin Bank (HSB), in which it would be the servicing
bank for HSB customers in Indonesia, providing banking
services such as accounts, remittances, trade fnance,
foreign exchange and other treasury products.
4 APRIL 2013
Maybank Singapore Islamic Banking launched two
new fnancing products for Malaysian residential and
commercial properties.
16 APRIL 2013
Maybank launched Maybank2u Pay, the frst of its kind
payment gateway to facilitate purchases at blog shops,
ofering not only fast and safe transactions, but also a
convenient and reliable online shopping experience.
22 APRIL 2013
BII held its annual general meeting and extraordinary
general meeting of shareholders (EGM). The EGM
approved the appointment of Lani Darmawan as Retail
Banking Director to replace Stephen Liestyo and the
appointment of Achjar Iljas as the new Independent
Commissioner to replace Putu Antara.
23 APRIL 2013

Former Maybank President & CEO, Dato Sri Abdul
Wahid Omar, was named the winner of The Asian
Banker Leadership Achievement Award 2013 for
Malaysia at The Asian Banker Summit 2013 in Jakarta.
Under his leadership, Maybank Group was also
recognised as The Best Managed Bank in Malaysia.
25 APRIL 2013
BII announced a Proft After Tax and Minority Interest of
Rp309 billion for the frst quarter ended 31 March 2013,
an increase of 16% from the same period a year earlier.
The Banks Proft Before Tax increased by 15% to Rp438
billion compared to Rp379 billion a year earlier.
25 APRIL 2013
Maybank Singapore was recognised for its support to
Heartware Network as its principal founding benefactor
at a fundraising gala dinner, graced by Mr Tharman
Shanmugaratnam, Deputy Prime Minister and Minister
for Finance. Maybank was honoured for its support
for youth volunteerism with over SGD1 million in
contributions over the last six years.

MAY
2 MAY 2013
The Tabung Wira Lahad Datu Media Prima received
a boost when Maybank Foundation handed over a
contribution of over RM210,000 to the Fund at a special
presentation event held in Sri Pentas, Petaling Jaya. The
sum comprised a RM200,000.00 contribution from
Maybank Foundation and RM10,109.40, which was
raised from the public during the Maybank Malaysian
Golf Open held in March.
6 MAY 2013
BII presented scholarships to 50 underprivileged
students of Universitas Gadjah Mada, Yogyakarta as
part of its on-going scholarship programme introduced
in 2008, which has beneftted 173 undergraduate
students so far.
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10 JUNE 2013

BII introduced BII Mitra Amanah service to
merchants at Pasar Baru Bekasi Timur, West Java. BII
Mitra provides both funding and lending services
for customers.
12 JUNE 2013

Maybank launched its latest service, Maybank
ASPIRE, a new branded segment ofering
designed to cater to afuent customers through a
comprehensive suite of fnancial solutions. ASPIRE
comprises a bundle of six main areas of fnancial
needs namely cards, deposits, fnancing, insurance,
investment and will writing under the conventional
or Islamic schemes.
13-14 JUNE 2013
Maybank Kim Eng was the co-organiser and co-
sponsor of Invest Malaysia Kuala Lumpur 2013,
held in Kuala Lumpur on 13-14 June 2013. Themed
ASEAN's Multinational Marketplace, the event
was ofcially launched by the Prime Minister of
Malaysia. It was attended by 1022 fund managers
and 59 corporates, comprising 52 Malaysian
companies and 7 ASEAN companies.
16 JUNE 2013
Nearly 3,000 participants from 42 countries
worldwide participated in the BII Maybank Bali
Marathon 2013. As part of this event, BII granted
scholarships to 486 talented students from 27
schools located along the marathon route.
24 JUNE 2013
Maybank Foundation awarded full scholarships to
51 deserving students to pursue their studies locally
or abroad at top public and private universities for
2013.
22 MAY 2013

Maybank Singapore, Heartware Network and the
Singapore Ministry of Education jointly launched
the Heartware Character & Citizenship Education
Leadership Programme to equip less academically
inclined students with leadership, innovative and
entrepreneurial skill sets. Singapores Minister for
Education, Mr Heng Swee Keat, ofciated the launch
in which Maybank Singapore, presented a cheque for
SGD300,000 to Heartware Network.
23 MAY 2013

Maybank reported that Proft After Tax and Minority
Interest for the frst quarter ended 31 March 2013 rose
11.8% to RM1.51 billion, compared with RM1.35 billion in
the corresponding quarter last year. Group Proft Before
Tax for the quarter was 12.3% higher at RM2.13 billion
from RM1.89 billion a year ago.
30 MAY 2013

Etiqa Insurance and Takaful was once again the title
sponsors for the 5th Edition of the Etiqa Selangor
International Junior Masters, which was held at its home
club in Kelab Golf Seri Selangor from 30
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June 2013. A total of 104 players from Asia, including
Singapore and Korea took part in the tournament.
JUNE
5 JUNE 2013

Maybank (Cambodia) Plc. won the most outstanding
social performance bank in the Cambodia Outstanding
Banking & MFI Awards 2013. This was the 1st Cambodia
Outstanding Banking & MFI Awards, organised by IDG
ASEAN.
8 JUNE 2013

Maybank Singapore was invited to join other corporate
sponsors in presenting a cheque for SGD1 million to
SportCares, an initiative by Singapore Sports Council,
which aims to use sports as a force for social good. The
Bank previously raised about SGD146,000 for Special
Olympics in support of their programmes for athletes
with special needs. The funds raised were channelled
through SportCares to attract dollar-for-dollar matching.
8 JUNE 2013
Maybank (Cambodia) Plc. was a sponsor in the frst
Mums & Dads Congress 2013, organised by DKSH
Cambodia. This community development programme
aimed to increase awareness of health and maternal
knowledge among newly married couples and the young
people of Cambodia.
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25 JULY 2013

The Maybank Global Banking team treated 70 children
from Pusat Jagaan Lambaian Kasih to a shopping trip
at 1 Utama Shopping Centre in conjunction with the
Hari Raya Puasa festivities. Each child was given a rare
treat - RM250 worth of AEON Jusco vouchers for their
shopping spree.
25 JULY 2013

Maybank Islamic announced its overall total zakat
contribution of RM15.2 million for fnancial year 2012 at
an event graced by the Minister in the Prime Ministers
Department, Mejar Jeneral (B) Dato' Seri Haji Jamil
Khir. Of this amount, RM11.4 million was distributed to
various Pusat Zakat of states while the remaining RM3.8
million was distributed to other needy recipients.
25 JULY 2013
BII presented 33 scholarships to Indonesian students to
continue their studies at selected foreign universities.
26 JULY 2013

Maybank Philippines (MPI) presented a donation
of Php1,152,200.00 from Maybank Foundation to
University of the Philippines Integrated School (UPIS).
UPIS was the benefciary of MPIs Adopt-A-School
Program, and the funds will be utilised in building the
Maybank Computer Laboratoy.
EVENT
HIGHLIGHTS
27 JUNE 2013
BII held an extraordinary general meeting of
shareholders to approve the Banks plan to undertake a
rights issue of Rp1.5 trillion.
JULY
1 JULY 2013

The Maybank Security Guards Safety Association signed
a new collective agreement with Maybank efective for a
three year period until 2014.
5 JULY 2013
Etiqa Insurance Berhad issued its maiden Tier-2 Capital
Subordinated Bonds of RM500,000,000, with a 10-year
tenure from the date of issuance on a 10 non-callable
5 basis. The bond facility, lead arranged by Maybank
Investment Bank Berhad, was rated AA1 by RAM Rating
Services Bhd.
10 JULY 2013
BII commenced its Mumbai branch operations in India
to tap signifcant business potential between India and
the ASEAN region.
10 JULY 2013

A signing ceremony was held between Maybank
Philippines and G4S Cash Solutions Philippines for the
outsourcing of cash servicing, cash sorting and ATM
frst-line maintenance.
18 JULY 2013

Maybank Singapore was presented with the Asian
Banking & Finance Retail Awards for Best Corporate
Social Responsibility Program (Silver). Maybank received
this accolade for the second time and is the only bank in
Singapore to receive an award for this category.
18 JULY 2013

Maybank Foundation continued its charity initiatives
by celebrating with children, single mothers and
underprivileged families of Kampung Kerdas, Gombak,
Kuala Lumpur. About 200 residents were treated to a
breaking of fast (buka puasa) event which was hosted
by Maybank Chairman, Tan Sri Dato Megat Zaharuddin
Megat Mohd Nor, members of Maybank Foundation
Board of Trustees and senior management of Maybank.
The guests also received duit raya and contribution of
daily provisions such as rice, condensed milk, sugar and
detergent.
18 JULY 2013
Maybank Kim Eng Thailand partnered with WeChat,
a popular mobile chat application to expand their
base of young investors by providing regular updates
on Maybank Kim Engs business and activities on the
application.
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SEPTEMBER
5 SEPTEMBER 2013
Maybank Singapore signed a 5-year partnership
with KidZania Singapore to be the sole bank within
the unique edutainment theme park. Slated to
open in early 2015 on Sentosa Island, KidZania will
be Maybanks third theme park partnership after
Universal Studios Singapore and Legoland Malaysia.
5 SEPTEMBER 2013
Maybank (Cambodia) Plc. concluded a
memorandum of understanding with Mizuho Bank,
Ltd. (MHBK) aimed at expanding MHBK's support
framework for Japanese corporations entering the
rapidly-growing Cambodian market through the
various fnancial services of Maybank Cambodia,
which has strengths in commercial banking and
corporate fnance.
6 SEPTEMBER 2013

BII launched a community empowerment
programme with a revolving fund grant of Rp1
billion to support micro fnancing projects in the
community.
12 SEPTEMBER 2013
Maybank Kim Eng Vietnam ofcially launched its
new head ofce at Vincom Center in Ho Chi Minh
City.
13 SEPTEMBER 2013
BII received the IT Banking Excellence Award 2013
from Warta Ekonomi magazine. BII was the winner
for the commercial bank category with total Tier 1
Capital of Rp530 trillion.
29 JULY 2013
Rp681 billion for the frst six months of 2013, an increase
of 15% from the same period a year earlier. The Banks
Proft Before Tax increased by 17% to Rp966 billion
compared to Rp824 billion for the corresponding period.
30 JULY 2013

Maybank Singapore sponsored a breaking of fast event
for 150 children at the Darul Mawa Childrens Home.
The event was graced by Speaker of Parliament, Mdm
Halimah Yacob.
AUGUST
2 AUGUST 2013
Maybank Kim Eng was the sole lead arranger and global
coordinator for Swibers USD500 million Multi-Currency
Islamic Trust Certifcates Issuance Programme. As a
joint lead manager, Maybank Kim Eng successfully
concluded Swibers inaugural SGD150 million, 5-year
sukuk issue, which was the largest Singapore dollar
sukuk issuance by any corporate entity to date.
2 AUGUST 2013
Datuk Abdul Farid bin Alias was appointed the Group
President and Chief Executive Ofcer of Maybank,
replacing Dato' Sri Abdul Wahid bin Omar, who
was appointed a Minister in the Prime Minister's
Department.
6 AUGUST 2013
Maybank Islamics staf visited the National Heart
Institute and distributed gifts to the patients and staf
of the Paediatric Ward in conjunction with the Hari Raya
celebrations.
14 AUGUST 2013
Maybank Kim Eng participated in Thai Beverages
acquisition of F&N, which was the largest M&A deal in
Southeast Asia for 2013.
21 AUGUST 2013
Maybank reported a Proft After Tax and Minority
Interest of RM3.07 billion for the six months ended
30 June 2013, 10.4% higher than the RM2.78 billion
recorded a year earlier. Proft Before Tax for the Group
rose 7.5% to RM4.22 billion compared with RM3.92
billion in June 2012.
22 AUGUST 2013

BII launched CoOLPay2 and BII Sinergi to support
the business community with fnancial supply chain
solutions.
26 AUGUST 2013

The grand fnals of the Maybank GO Ahead Challenge
began at Menara Maybank in Kuala Lumpur. 54
fnalists from 10 countries across the world converged
in Malaysia to battle it out for the prize money of
US$72,000 and the chance to join the sought-after
Global Maybank Apprentice Programme.
26 AUGUST 2013
Maybank Investment Bank ofcially opened a new
branch at Mutiara Damansara, Selangor, expanding
its branch distribution network to a total of fve
across Malaysia. It also announced the release of its
Powerbroking and M2U mobile apps for Android-based
devices.
29 AUGUST 2013

Maybank Foundation joined hands with various
corporate organisations to support the XtraMile Run
2013. The 100 km run, which took place across Klang
Valley, took 17 hours to complete and raised over
RM120,000. The objective of the XtraMile run was to
raise awareness and interest amongst Malaysians to
support the education initiatives of Dignity for Children
Foundation.
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HIGHLIGHTS
27 SEPTEMBER 2013

Maybank Singapore signed a SGD55 million contract
with Dimension Data and NTT Communications
to upgrade its IT infrastructure to improve service
reliability, customer user experience and ensure that
it was well-positioned to capitalise on future growth
opportunities.
28 SEPTEMBER 2013
Over 21,000 Maybank employees participated
in the Group's fourth annual Maybank Global CR
Day initiative. Believed to be the biggest corporate
responsibility (CR) initiative ever by a Malaysian
company globally, and simultaneously in a day, the
event involved Maybank employees and its ofces
abroad coming together to reafrm their commitment
to social and community development.
30 SEPTEMBER 2013
BII announced that Taswin Zakaria had been identifed
as its new President Director.
30 SEPTEMBER 2013
Maybank Singapore was the joint original mandated
lead arranger, underwriter and bookrunner for Universal
Group Holdings SGD1.15 billion Syndicated Term Loan
Facility. This transaction represented the largest tank
farm deal done in Singapore.
OCTOBER
1 OCTOBER 2013
Maybank Singapore Islamic Banking launched a
new Shariah-compliant banking product for vehicle
fnancing, marking another industry frst as it continued
to develop the retail Islamic banking sector in
Singapore.
8 OCTOBER 2013

Deputy Education Minister, Datuk Mary Yap Kain Ching
launched the CashVille Kidz Season 2, an animated
TV series, jointly produced by Maybank Foundation
& MoneyTree (M) Sdn Bhd and approved as well as
endorsed by the Ministry of Education.
12 OCTOBER 2013
Maybank (Cambodia) Plc. made contributions to assist
with the Siem Reap Provincial Governor's ofce's
emergency fund to save 3,000 families afected by food
in the Purk District.
17 OCTOBER 2013
Maybank Kim Eng Vietnam announced that it obtained
the approval of the State Securities Commission of
Vietnam to convert Maybank Kim Eng Vietnam into
a single-member limited liability company, thereby
making it the frst securities company in Vietnam to be
100% foreign owned.
21 OCTOBER 2013

BII ofcially launched its frst branch in Mumbai,
extending the Groups regional commercial banking
platform further into South Asia.
24 OCTOBER 2013
The Badminton Association of Malaysia and Maybank
announced that Malaysia will be hosting the frst ever
prestigious Maybank Malaysia Open Superseries
Premier 2014 at Putra Indoor Stadium in Bukit Jalil,
Kuala Lumpur to be held from 14-19 January 2014.
The sporting event would see participation by world
renowned players, notably the top 10 from the men
singles, women singles, men doubles, women doubles
and mixed doubles.
24 OCTOBER 2013
Maybank ATR Kim Eng led the USD621 million IPO for
Robinsons Retail Holdings Inc in the Philippines.
25 OCTOBER 2013
In conjunction with Deepavali and Christmas, Maybank
launched a social movement called Project H.E.A.R.T
(Helping Every Asian Rise Together) which aims to
improve the lives of fellow Asians by implementing
sustainable projects. To kick of, solar powered light
bulbs were distributed to Kampung Chuweh in Perak
and Pensiangan in Sabah in Malaysia, Barrio Udlot and
Barrio Bliss in Cebu, the Philippines which were badly
afected by Typhoon Haiyan. By the end of the Project
H.E.A.R.T, bulbs were given out to 200 families within
the 4 communities.
28 OCTOBER 2013
Rp1.1 trillion for the nine months ended 30 September
2013, a 19% increase from the same period a year earlier.
Proft Before Tax increased by 22% to Rp1.6 trillion
compared to Rp1.3 trillion in the previous corresponding
period.
28 OCTOBER 2013
Maybank (Cambodia) Plc. opened four new branches
in Serey Sophorn, Chroy Changvar, Obek Kaorm and
Kampuchea Krom, extending Maybanks reach further
into Cambodia. The branches were ofciated by Lok
Chumteav Ouk Maly, Deputy Governor, National Bank
of Cambodia at a ceremony held at Serey Sophorn in the
Banteay Meanchey province.
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29-30 OCTOBER 2013

Maybank Islamic was the strategic partner for the
9
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World Islamic Economic Forum held in London.
The Forum was themed Changing World, New
Relationships to encapsulate the emergence of new
economic linkages between nations across borders,
religions and cultures in a fast changing world. Prime
Minister of Malaysia, Dato Sri Mohd Najib bin Tun Haji
Abdul Razak, also ofciated the launch of Maybank
Islamic Asset Management at the event.
NOVEMBER
1 NOVEMBER 2013

BII was one of nine banks partnering with the local
government of Jakarta to provide payment facilities for
land and buildings via its ATMs.
4-8 NOVEMBER 2013
Maybank Kim Eng, in collaboration with Bursa Malaysia,
organised the Invest Malaysia USA 2013 Conference,
covering New York City, Boston and San Francisco. The
conference was attended by 110 fund managers. Twelve
Malaysian corporates with a total market capitalisation
of RM271 billion, or 16% of the Malaysian bourse market
capitalisation, showcased their investment propositions
during the conference.
5 NOVEMBER 2013
Maybank celebrated the 20
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Cambodia operations, reiterating its commitment to
support the community through its diverse range of
corporate responsibility (CR) initiatives. More than 500
guests attended a dinner reception where Maybank
reinforced its philosophy of Growth with Responsibility
within its communities with a donation of USD50,000
to the Cambodian Red Cross to aid victims of
disasters and to support healthcare and humanitarian
programmes in the country.
6 NOVEMBER 2013

Forty-four children from Sekolah Jenis Kebangsaan
(Tamil) Pulau Carey Selatan and Sekolah Jenis
Kebangsaan (Tamil) Pulau Carey Barat attended a
Deepavali celebration at Menara Maybank, Kuala
Lumpur. The children were also presented with Maybank
school bags and cash gifts.
6 NOVEMBER 2013
Maybank Singapore was awarded the Singapore Quality
Class (SQC) Star. SQC Star looked at an organisation
holistically across seven dimensions of excellence,
including Leadership, Planning, Information, People,
Processes, Customers and Results.
8 NOVEMBER 2013

Maybank Private Wealth was ofcially launched in
Singapore. This new regional platform is specially
designed for clients with investible assets of USD1
million and above. In addition to a broad range of
investment products and services, Maybank Private
Wealth clients will also be able to tap into the Banks
expertise in corporate lending, transaction banking,
capital markets, investment banking as well as Islamic
banking.
9 NOVEMBER 2013

Over 2,500 people participated in the Maybank
Wild Tiger Run, organised by the Malaysian
Conservation Alliance for Tigers (MYCAT) and
supported by Maybank Foundation. The Run aimed
to increase awareness on the plight of the Malayan
tiger and raise funds for conservation eforts by
MYCAT. It was fagged of by Youth and Sports
Minister of Malaysia, Mr Khairy Jamaluddin.
11 NOVEMBER 2013

Maybank Singapore launched Maybank Mobile
Money, Singapores frst money transfer service that
allows Mobile Banking customers to send money to
a Singapore mobile phone number instead of a bank
account. Maybank is among the frst banks in the
world to ofer this mobile money transfer service
that also promotes personal banking data privacy.
14 NOVEMBER 2013

Maybank Group contributed RM1,000,000 to the
Philippine Red Cross in aid of relief eforts for the
victims of Typhoon Haiyan. Maybank Philippines
also announced that its employees would forego
their annual Christmas party, and contribute the
Php 1 million allocation to the typhoon victims.
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14 NOVEMBER 2013

Maybank Islamic hosted an ofcial visit by the Crown
Prince of Bahrain, H.H Shaikh Salman Al Khalifa, in
hopes of strengthening relationships with Middle
Eastern countries.

19 NOVEMBER 2013
Maybank ATR Kim Eng was awarded the Philippine
Stock Exchange Bell Award for Outstanding Corporate
Governance Practices.
19 NOVEMBER 2013
Maybank Investment Bank clinched 14 awards in
the Asiamoney Brokers' Poll 2013, including Best for
Events and/or Conferences, Best for Roadshows and
Company Visits and Best Research Coverage for Banks
in Malaysia.
21 NOVEMBER 2013
Maybank reported that Proft After Tax and Minority
Interest for the nine months ended 30 September 2013
rose 12.5% from a year earlier to RM4.82 billion. Proft
Before Tax for the Group rose 10.4% to RM6.57 billion
compared with RM5.95 billion in September 2012.
22 NOVEMBER 2013
Maybank Kim Eng Singapore donated S$10,000 to the
SGX Bull Charge, a corporate charity run which supports
the Asian Women's Welfare Association, Autism
Association, Fei Yue Community Services and Shared
Services for Charities. In addition, 63 Maybank Kim Eng
staf also participated in the run to show their support
for the cause.
27 NOVEMBER 2013

Maybank announced the winners of the Maybank
Photography Awards 2013 at the prize presentation
ceremony in Kuala Lumpur. The photo competition,
held from 1 July to 30 August 2013, garnered over
67,000 entries from across Asia. This was the second
consecutive year of the competition and it was themed
Inspiring Asia. It ofered USD35,000 worth of prizes.
28 NOVEMBER 2013

Etiqa Insurance & Takaful handed out panic bags to 13
village headmen in Kemaman as a pro-active measure in
preparing for the impending food. The waterproof panic
bags were specially produced to help people protect
their important documents such as birth certifcates,
passports and insurance policies during foods.

DECEMBER
1 DECEMBER 2013
Kamaludin Ahmad was ofcially appointed as Chief
Executive Ofcer of Maybank Ageas Holdings Berhad,
including Etiqa Insurance Berhad and Etiqa Takaful
Berhad.
3 DECEMBER 2013
Maybank Singapore and Maybank Kim Eng were
mandated by Hyfux as advisor, lead arranger and sole
underwriter for a SGD720 million term loan facility
to fund the Tuaspring desalination and power plants.
This was a landmark transaction of national interest
to Singapore, given that Tuaspring was its largest
desalination plant. It also represented the frst project
fnancing of such a scale originated by Maybank
Singapore.
5 DECEMBER 2013

Three Maybank cardmembers drove home luxury
cars after being named grand prize winners in the
Banks Win Your Dream Car campaign. The campaign
which ran from 4 July to 3 November 2013, received
overwhelming response amongst cardmembers.
5 DECEMBER 2013
Maybank was the frst bank in Malaysia to announce
a six-month moratorium on a case-to-case basis for
monthly instalment payments of loans, as well as
waiver of certain charges for customers afected by the
foods in the various states in Malaysia. The Bank also
contributed essential items worth over RM100,000 to
assist food victims.
5 DECEMBER 2013

Etiqa Takaful Berhad launched a new building built for
the beneft of more than 100 students in Madrasah At-
Tanwiriah in Muar, Johor.
9 DECEMBER 2013
BII announced a revolving fund of Rp1 billion for
members of Asosiasi Pendamping Perempuan Usaha
Kecil (Association for women with micro business) to
be channelled through 29 cooperatives for women
with micro businesses spread across fve regions in
Indonesia, namely Sumatra, Java, Kalimantan, Sulawesi
and Nusa Tenggara.
12 DECEMBER 2013

A group of 24 disabled artists showcased their artistic
talents in a special exhibition at Balai Seni Maybank in
Kuala Lumpur. The exhibition, entitled Nukilan Jiwaku,
featured 48 paintings and was a project aimed at
providing opportunities for persons with disabilities to
express their artistic creativity as well as empower them
to become economically self-sufcient.
12 DECEMBER 2013
Maybank Kim Eng Singapore won the Investment Trends
2013 Singapore Broking Award for the Best Education
Materials and Best Mobile Platform.
EVENT
HIGHLIGHTS
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AWARDS &
RECOGNITION
ACCA MALAYSIA SUSTAINABILITY REPORTING
AWARDS (MaSRA 2013)
Overall winner for Best Sustainability Report
category
Commendation for Reporting on Gender
Diversity
MALAYSIAS 100 LEADING GRADUATE
EMPLOYER AWARDS 2013
Winner for the Banking & Financial Services
Category
First runner-up for Graduate Employer of The
Year
EFMA- ACCENTURE INNOVATION AWARDS 2013
Joint winner for the category Responsible
Business with BNP Paribas
COMMUNITY FINANCIAL SERVICES
EUROMONEY PRIVATE BANKING AND WEALTH
MANAGEMENT SUVERY 2013
Best Private Banking Services Overall
Best Relationship Management
Best Privacy and Security
Best Range of Investment Products
Best Net-worth Specifc Services - Super
Afuent (US$500,000 - US$ 1 mil)
Best Net-worth Specifc Services - High Net
Worth I (US$1mil - US$ 10 mil)
Best Net-worth Specifc Services - High Net
Worth II (US$ 10mil - US$ 30 mil)
Best Net-worth Specifc Services - Ultra High
Net Worth (Greater than US$ 30 mil)
BANKING & PAYMENTS ASIA TRAILBLAZER
AWARDS 2013
Process Excellence in Risk Management
Channel Excellence in Internet - Overall
Channel Excellence in Internet - Account
Management
Service Excellence in Service Innovation
THE ASIAN BANKER EXCELLENCE IN RETAIL
FINANCIAL SERVICES INTERNATIONAL AWARDS
2013
Best Retail Bank in Malaysia
EXCELLENCE IN RETAIL FINANCIAL SERVICES
INTERNATIONAL AWARDS 2013
The Best Retail Bank (Country Award)
Best Automobile Lending Product (Product &
Business International Award)
Best Consumer Risk management Initiative
VISA MALAYSIA AWARDS
Largest Visa Card Issuer-Maybank (Issuing
Category)
Largest Debit Payment Volume or Billings -
Maybank (Issuing Category)
Largest Payment Volume-MaybankPetronas
(Visa Credit Co-Brand Category)
Highest Payment Volume or Billings - Maybank
Manchester United (Visa Debit Co - Brand
Category)
Largest Payment Volume - Maybank (Islamic
Credit Card Category)
Largest Acquirer-Maybank (Acquiring Category)
Bank of the Year Award-Maybank (Overall)
GROUP AWARDS
EUROMONEY AWARDS FOR EXCELLENCE 2013
Best Bank in Malaysia
THE ASIAN BANKER LEADERSHIP ACHIEVEMENT
AWARDS 2013
Best Managed Bank Awards in Malaysia
Leadership Achievement Award for Malaysia
BLOOMBERG MARKETS MAGAZINE: THIRD
ANNUAL RANKING OF THE WORLDS
STRONGEST BANKS IN MAY 2013
Maybank recognised as 13
th
Worlds Strongest
Bank
ASIAS BEST COMPANIES 2013 AWARD
Best Corporate Governance and Best Corporate
Social Responsibility
NACRA 2013 AWARDS
Gold Award for Overall Excellence Award
Industry Excellence Award for Finance
Platinum for Best Designed Annual Report
Award
Gold Award for Best Annual Report in Bahasa
Malaysia
Silver Award for Best Corporate Social
Responsibility
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S Former Maybank President and CEO Dato' Sri Abdul Wahid Omar
(centre) receiving The Asian Banker Leadership Achievement Award
2013 for Malaysia and as well as The Best Managed Bank in Malaysia
on behalf of Maybank from Mr Foo Boon Ping (right), Managing Editor
of The Asian Banker at a ceremony held in conjunction with The Asian
Banker Summit 2013 in Jakarta, on April 23
rd
2013. On the left is
William Isaac, Chairman of Fifth Third Bancorp who was a keynote
speaker at the Summit.
Dr John Lee, Group Chief Risk Ofcer, receiving the 'Asia Risk Bank
Risk Manager of the Year Award' from the Editor of Asia Risk, Mr Eric
Woolner.
The Maybank team, led by Group Chief Financial Ofcer En Mohamed
Rafque Merican (middle), bagged fve NACRA 2013 Awards. Also
present include Group Performance Reporting and Investor Relations
Head Narita Naziree (third from left), former Finance and Treasury
Operations Head Ronnie Royston Fernandiz (fourth from left) and
Group Corporate Afairs Head Eliza Mohamed (third from right).
Best Equity-Linked Deal in South East Asia
(Puncak Niaga) - RM165 million Sukuk Ijarah
Best Trade Finance Bank : Malaysia
Best Cash Management Bank : Malaysia
Best Custody Solution in South East Asia
THE ASSET TRIPLE A AWARDS
Best Islamic Project Finance (Malakof Tanjung
Bin Energy) - RM6.5 billion Loan and Sukuk
Murabaha
Best Islamic Equity (IHH Healthcare) - US$2.2
billion IPO
Highly Commended - Best Islamic Equity (Felda
Global Ventures) - US$3.3 billion IPO
Best Local Currency Sukuk (DanaInfra Nasional)
- RM2.4 billion Sukuk
Best Brokerage House : Indonesia, Malaysia,
Singapore, Thailand
Best Regional Deal - Secondary Ofering
(Matahari Department Store) - US$1.5 billion
re-IPO
Best Deal in Indonesia (Matahari Department
Store) - US$1.5 billion re-IPO
Best Deal in Malaysia (Sime Darby) - US$800
million Two-Tranche Sukuk
Best Service Providers - Transaction Bank :
Malaysia
Best Service Providers - Cash Management :
Malaysia
Best Service Providers - Trade Finance :
Malaysia
Best Service Providers - Structured Trade
Finance : Malaysia
Best Cash Management Solution - Financial :
Malaysia (Mercedes-Benz)
Best Custodian by Country - Rising Star :
Malaysia
Best Islamic Trade Finance Bank : Malaysia
ASIAMONEY AWARDS
Best Domestic Debt House : Malaysia
THE ASIAN BANKER AWARDS
The Leading Counterparty Bank : Malaysia
ASIAN BANKING & FINANCE AWARDS
Trade Finance Bank of the Year : Malaysia
THE CORPORATE TREASURER AWARDS
FINANCEASIA AWARDS
Best Islamic Finance Deal (Sime Darby) -
US$800 million Dual - Tranche Sukuk
Best Vietnam Deal (Vingroup) - US$250 million
Syndicated Loan
GLOBAL CUSTODIAN AWARDS
Cross Border Non Afliated Global Custodian
Award : Top Rated in Emerging Markets
Domestic Commended Global Custodian Award
: Malaysia
READERS DIGEST TRUSTED BRANDS
Platinum Award for the Most Trusted Bank
Award
The Most Trusted Bank-Issuing Credit Cards
Category
CGC TOP SME SUPPORTER AWARD 2012
Best Financial Partner Award
Top SME Supporter Award
Top Bumiputera SME Supporter Award
ADVERTISING + MARKETINGS INAUGURAL
MARKETING EXCELLENCE AWARDS 2013
Excellence in Experiential/Event Marketing -
Maybank Treatsfair 2012 (Gold)
Excellence in CRM & Loyalty Marketing -
Maybank Photography Awards (Gold)
Excellence in Sponsorship Activation - Maybank
Live at Old Traford (Gold)
Excellence in Integrated Marketing - Maybank
Business Banking Awareness Campaign 2012
(Silver)
Excellence in Sponsorship Activation - Maybank
Photography Awards (Silver)
Excellence in Consumer Insights/Market
Research/Data Driven Marketing - Maybank
One Solution (Silver)
VISA SECURITY SUMMIT 2013
The leader Award for Issuer for Excellence in
Issuer Fraud Risk Management & Supporting
Visa's Eforts to maintain Trust & Security in the
Payment Industry
ISLAMIC FINANCE NEWS 2013 ISLAMIC
INVESTOR POLL
Best Fund Distributor (Private/Retail Bank)
THE BANKER GLOBAL BANKING AWARDS
Best Private Bank, Islamic Services
GLOBAL BANKING:
KEY REGIONAL AWARDS
ALPHA SOUTHEAST ASIA AWARDS
Best Institutional Broker : Philippines, Thailand
Best Retail Broker : Philippines, Thailand,
Vietnam
Best Islamic Finance Deal & Best Bond Deal for
Retail Investors in South East Asia (DanaInfra
Nasional) - RM300 million Exchange Traded
Retail Sukuk MTN
Best Foreign Currency Bond Deal in South
East Asia (Sime Darby) - US$800 million Multi
Currency Sukuk
Best IPO Deal & Best IPO Deal for Retail
Investors in South East Asia (UMW Oil & Gas)
-US$820 million
Best Local Bond Currency Deal in South East
Asia (Swiber Capital) - S$150 million Islamic
Trust Certifcate
GLOBAL FINANCE AWARDS
World's Best Trade Finance Bank : Malaysia
World's Best Foreign Exchange Bank : Malaysia
Worlds Best Corporate/Institutional Internet
Banks : Malaysia
GTR ASIA LEADERS IN TRADE READERS POLL
IFR ASIA AWARDS
Best Equity House - Malaysia
ISLAMIC FINANCE NEWS AWARDS
Malaysia Deal of the Year (DanaInfra Nasional)
- RM300 million Exchange Traded Sukuk (frst
tranche)
Most Innovative Deal (Telekom Malaysia) -
RM200 million Sukuk Wakalah
Corporate Finance Deal of the Year (Sime Darby
Global) - US$800 million Dual Tranche Sukuk
Country Award - Malaysia
Country Award - UK
INTERNATIONAL BANKING
CAMBODIA OUTSTANDING BANKING &
MICROFINANCE AWARDS (IDG ASEAN)
Most Outstanding Social Performance Bank :
Maybank Cambodia Plc (MCP)
ASIAMONEY AWARDS
No.1 in Overall Best for Interest Rates
(Philippines) : MPI
No.1 in Best for Interest Rates Research
(Philippines) : MPI
No.1 in Best for Interest Rates Products and
Sales (Philippines) : MPI
No.2 in Best for Interest Rate Derivatives
(Philippines) : MPI
INSURANCE & TAKAFUL AWARDS
INTERNATIONAL TAKAFUL SUMMIT, CAIRO
Best Bancatakaful (Asia)
Best Marketing (Asia)
MALAYSIA TAKAFUL ASSOCIATION
Top Agency Takaful Provider (Family)
THE ASSET TRIPLE-A ISLAMIC FINANCE AWARDS
Best Takaful Institution
CUSTOMER RELATIONSHIP MANANGEMENT &
CONTACT CENTRE (CCAM) INDUSTRY AWARDS
Best Contact Centre Professional (under 100
seats) : 1st Place/Gold won by Halijah Rasdi
Best Contact Centre Team Leader - Operations
(Under 100 seats) : Bronze won by Nik
Farhanim Nik Mohd Azmin
Best Contact Centre Team Leader - Non
Operations (under 100 seats) : Bronze won by
Ain Suhara Noruzman
AWARDS &
RECOGNITION
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WORLD FINANCE INSURANCE AWARDS
Best Non-Life Insurance Company in Malaysia
ISLAMIC FINANCE NEWS AWARDS BEST SERVICE
PROVIDERS POLL
Best Takaful Provider
7
TH
ANNUAL ALPHA SOUTHEAST ASIA DEAL &
SOLUTION AWARDS
Best Takaful Company in Southeast Asia
ISLAMIC BANKING
THE ASSET TRIPLE A AWARDS
Industry Leadership Award - Islamic Banker of
the Year
Best Islamic Retail Bank & Trade Finance,
Malaysia
Best Islamic Project Finance House
GLOBAL FINANCE MAGAZINE AWARDS
Worlds Best Islamic Financial Institutions 2013
(Asia, Malaysia & Singapore)
ALPHA SOUTHEAST ASIA AWARD
Best Islamic Finance Bank (Malaysia)
INTERNATIONAL FINANCE MAGAZINE
Best Islamic Bank (Malaysia)
BANK INTERNASIONAL INDONESIA (BII)
INSTITUTE OF SERVICE MANAGEMENT STUDIES
(ISMS) TRISAKTI
The Best Bank in Service Quality for four
consecutive years
CARRE OF CENTRE FOR CUSTOMER
SATISFACTION AND LOYALTY (CCSL) AND
BISNIS INDONESIA
Excellent Service Experience Award (ESEA)
MARKETING MAGAZINE AND CARRE CENTER
FOR CUSTOMER SATISFACTION AND LOYALTY
(CCSL)
Contact Center Service Excellence Award 2013
MARKPLUS INSIGHT AND MARKETEERS
Best Service to Care Award 2013
Second best for Service to Care
KARIM BUSINESS CONSULTING
Most Proftable Bank for category Unit Usaha
Syariah with assets more than Rp500 billion
INFOBANK AND MRI
Third Best Overall (Syariah Category) in
Banking Service Excellence
INVESTOR MAGAZINE
Best Performance Sharia Banking Unit for
asset size between Rp1 trillion to Rp5 trillion
CITIBANK STP (STRAIGHT THROUGH
PROCESSING) AWARD
JP MORGAN STP (STRAIGHT THROUGH
PROCESSING) AWARD
PRIMA ATM NETWORK 5 YEARS LOYALTY
AWARD
PERBANAS INSTITUTE AND BUSINESS REVIEW
Anugerah Perbankan Indonesia 2012
BANK INDONESIA: BEST COMPANY 2013 IN
LALU LINTAS DEVISA (LLD) DAN DEVISA HASIL
EKSPOR.
BRAND FINANCE: Top 50 MOST VALUABLE
INDONESIAN BRAND 2013
BII FINANCE CENTER AWARDS
ICCD: THE BEST FINANCIAL SECTOR GOOD
CORPORATE GOVERNANCE FOR FINANCIAL
SECTOR
INFOBANK AWARD 2013
The Best Multifnance with asset category IDR
2-5 T from Investor magazine
Best Multifnance with category the best
fnancial performances for year 2012 from
Infobank magazine
INDONESIA MULTIFINANCE AWARD 2013
The Best Multifnance with asset category of
IDR 1-2T in from Business Review magazine
The Best multifnance with category for best
Finance & Value Creation from Business
Review magazine
The Best Multifnance with category for best
Merit Corporation from Business Review
magazine
GROUP TECHNOLOGY
SHARE GUIDE ASSOCIATION MALAYSIA (SGAM)
ICT AWARDS
Regional Cash Management System for IT
Innovative Initiatives
GROUP OPERATIONS
JP MORGAN CHASE: 2012 QUALITY
RECOGNITION AWARDS
MT 103 Quality Recognition Award
MT 202 Elite Quality Recognition Award
DEUTSCHE BANK 2012 USD STP EXCELLENCE
AWARD STANDARD CHARTERED BANK
Outstanding Performance in International
Payments for 2012 Straight Through Rate
BANK OF AMERICA MERRILL LYNCH
Leading Commercial Payment Partner Bank in
Malaysia
RISK MANAGEMENT
ASIA RISK MAGAZINE 2013
Bank Risk Manager of the Year: Group Chief
Risk Ofcer of Maybank
ASIAN BANKER RISK MANAGEMENT AWARD
2013
The Operational Risk Infrastructure Project
Award
THE ASIAN BANKER EXCELLENCE IN RETAIL
FINANCIAL SERVICES INTERNATIONAL AWARDS
2013
Best Consumer Risk Management Initiative,
Asia Pacifc: Community Financial Services
BANKING AND PAYMENTS ASIA TRAILBLAZER
AWARDS 2013
Process Excellence in Risk Management:
Community Financial Services
DISASTER RECOVERY INSTITUTE (DRI)
INTERNATIONAL
Programme Leader of the Year Award for 2013
(for Private Sector) to Head, Group Business
Continuity Management
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THROUGH OUR
EXTENSIVE NETWORK,
WE ARE PROVIDING
YOU GREATER ACCESS
TO NEW MARKETS.
22 MILLION
CUSTOMERS
MARKET
GROUP FINANCIAL
REVIEW
Proft After Tax
& Minority Interest
RM6.55 billion
FY2012: RM5.75 billion
International PBT contribution
30.3%
FY2012: 30.2%
Cost to Income Ratio
47.8%
FY2012: 48.6%
(post-MFRS 10)
Return on Equity
15.1%
FY2012: 16.0%
Total Capital Ratio
15.66%
FY2012: 16.60%
Gross Loans Growth
14.0%
FY2012: 12.2%
Our double-digit growth in PATAMI to reach RM6.55 billion is refective of
the Groups concerted focus on increasing top-line, managing efciency, and
improving asset quality. It is through these levers that we have delivered
above target ROE at 15.1% on an enlarged capital base and continue to be one
of the leading banks in terms of dividend yield.
MOHAMED RAFIQUE MERICAN
Group Chief Financial Ofcer
Key Ratios (%) FY2013 FY2012
(Restated)
Return on Equity 15.1 16.0
Net Interest Margin 2.43 2.48
Fee to Income Ratio 35.7 34.4
Cost to Income# 47.8 48.6
Loan-to-deposit Ratio 89.9 89.8
Asset Quality
Gross Impaired Loan Ratio 1.48 1.78
Net Impaired Loan Ratio 0.95 1.09
Loan Loss Coverage 107.5 105.6
Charge of rate (bps) 23 23
Capital Adequacy (Group)
Common Equity Tier 1 Capital Ratio 11.25 10.97
Total Capital Ratio 15.66 16.60
Note:
# Total cost excludes amortisation of intangibles assets for BII and Maybank Kim Eng
FY2013 PERFORMANCE HIGHLIGHTS
It was another record year for Maybank Group as we delivered a PATAMI of
RM6.55 billion and continued to create shareholder value with our ROE of
15.1% exceeding the headline KPI of 15.0%.
Our fourth year of double-digit earnings growth was attributed to robust
revenue growth, operating efciencies and improvement in asset quality.
Gains seen in Group PATAMI and proft before taxation and zakat (PBT) were
mainly due to revenue rising 10.5% y-o-y led by domestic operations growth
of 12.1% and international growth of 12.7%.
Overseas markets accounted for 30.3% of Group PBT, up from 30.2% a year
earlier, with Singapores PBT charting y-o-y growth of 9.8% to RM1.25 billion
and Indonesias PBT increasing 18.8% y-o-y to RM660 million.
All lines of businesses saw revenue growth, with Community Financial
Services (CFS) up 6.5%, Global Banking higher by 4.0%, Insurance & Takaful
increased 10.6% and International Banking rose 3.8%.
Maybank Islamic continued to lead the Islamic banking market, with its PBT
growing 17.1% y-o-y to RM1.39 billion. Its total gross fnancing increased 40% to
RM86.9 billion, accounting for 38.9% of Maybanks total domestic fnancing.
Net interest margin (NIM) for the Group contracted 5bps to 2.43% in FY2013
against 2.48% in FY2012, and well within the guidance of 10bps contraction.
The Groups statement of fnancial position strengthened with total assets
of RM560.4 billion and total capital ratio of 15.66% [Based on Capital
Adequacy Framework (Capital Components) and Capital Adequacy
Framework (Basel II - Risk Weighted Assets issued by BNM)].
Asset quality continued to improve with net impaired loans ratio of 0.95%
and loan loss coverage of 107.5%.
We have proposed a fnal single-tier dividend of 31 sen per share, amounting
to RM2.75 billion. This brings total FY2013 net dividend to RM4.71 billion,
representing a net dividend payout ratio of 71.9%.
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(RM' million) FY2013 FY2012 Y-o-Y
(Restated)
Net interest income 9,585.3 9,296.7 3.1%
Net fund based income (Islamic Banking) 2,331.5 1,699.4 37.2%
Net fund based income 11,916.8 10,996.1 8.4%
Non-interest income 5,882.1 5,328.7 10.4%
Fee based income (Islamic Banking) 478.6 496.9 (3.7)%
Net income (loss) from insurance/
takaful business* 260.8 (48.3) 640.0%
Net fee based income 6,621.5 5,777.3 14.6%
Net income 18,538.3 16,773.4 10.5%
Overhead expenses (8,927.9) (8,232.4) 8.4%
Impairment losses (880.1) (797.0) 10.4%
Operating proft 8,730.3 7,744.0 12.7%
Proft before taxation and zakat 8,869.6 7,896.3 12.3%
Profit After Tax and Minority Interest 6,552.4 5,745.9 14.0%
(PATAMI)
EPS Basic (sen) 75.79 72.69 4.3%
* Net of insurance and takaful claims
The Group continued to deliver strong fnancial performance in FY2013, with PBT and
PATAMI increasing by 12.3% and 14.0% respectively while earnings per share was up
by 4.3%. Growth in proft was contributed by higher net income which grew by 10.5%
while growth in overhead expenses was contained at 8.4%, refective of improved
operating efciencies across the Group.
Net income growth was supported by a 14.6% growth in net fee-based income,
of which non-interest income grew 10.4%, or RM553.4 million, owing to higher
net foreign exchange gains, higher fee income and gains on disposal of fnancial
investments. Meanwhile, net income from insurance and takaful business saw a
stellar rise due to lower net benefts and claims, lower net fee and commission
expenses and reduced expense liability incurred.
Our net fund based income growth of 8.4% also contributed to the Groups net
income growth, mainly attributable by strong growth from Islamic Banking's
net fund based income growth of 37.2%. This is in tanden with the 14.0% y-o-y
growth in Group gross loans (including Islamic fnance).
Overheads expenses grew 8.4% in tandem with the Groups business growth
and its expansion plans. The increase was mainly attributed to increased
establishment costs of 18%, higher marketing expenses of 13% and higher
personnel cost of 5% or RM235 million. As expenses grew at a slower rate than
income growth, the Group was able to improve the cost to income ratio from
48.6% in FY2012 to 47.8% in FY2013.
Given our higher loan growth, impairment expenses rose 10.4% mainly due to
higher collective allowances on a larger loan base, but this was mitigated by write
backs on impairment allowances in the corporate segment. The Groups loan loss
coverage also strengthened to 107.5% from 105.6% in FY2012.
Asset quality continued to improve with net impaired loans ratio of 0.95% from
1.09% a year earlier.
Earnings per share rose 4.3% to 75.8 sen compared to 72.7 sen in FY2012.
The Board of Directors has proposed a fnal dividend of 31 sen single-tier dividend
comprising a cash portion of 4 sen single-tier dividend and an electable portion of
27 sen.
The total single-tier dividend for the year was 53.5 sen per share. Please refer
to the Maybank Share pages in this annual report for more information on the
dividend.
PATAMI (RM' billion) & EPS (sen)
RESULTS SUMMARY FOR FY2013
12.0
53.9
61.4
65.1
72.7
75.8
0.69
3.82
4.45
4.88
5.75
6.55
FY13 FY12 FP11 FY11 FY10 FY09
EPS (sen) PATAMI (RM bil)
BUSINESS REVIEW
Revenue by business segment
(Restated)
Community Financial Services 7,318 6,871 6.5%
Corporate Banking 2,270 2,301 -1.3%
Global Markets 1,696 1,711 -0.9%
Investment Banking 1,536 1,279 20.1%
International Banking 5,330 5,137 3.8%
Insurance, Takaful & Asset Management 1,552 1,403 10.6%
PBT by business segment
(Restated)
Community Financial Services 3,224 3,024 6.6%
Corporate Banking 1,614 1,989 -18.9%
Global Markets 1,397 1,474 -5.2%
Investment Banking 462 346 33.4%
International Banking 2,537 2,294 10.6%
Insurance, Takaful & Asset Management 800 698 14.6%
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In FY2013, all of the Groups business segments recorded positive growth in revenue
while most business segments posted higher PBT.
The Groups CFS sector saw its revenue and PBT grow at 6.5% and 6.6% respectively.
The PBT increase was driven by higher net interest income and Islamic Banking
income arising from strong loan growth in SME, unit trust and auto fnancing as well
as higher non-interest income.
Global Banking, which comprises three units - Corporate Banking, Global Markets
and Investment Banking, saw a decline in its PBT mainly due to Corporate Banking,
which recorded an increase in allowances for impairment on loans, advances and
fnancing and lower non-interest income. Global Markets also saw a decline in PBT
owing to lower non-interest income arising from gains on trading activities, higher
impairment losses on fnancial investments and higher overhead expenses. However,
the lower contributions from Corporate Banking and Global Markets were mitigated
by the 33.5% gain in PBT by Investment Banking owing to higher brokerage and
underwriting income.
Meanwhile, our overseas banking operations recorded an increase in revenue
and PBT of 3.8% and 10.6% respectively. The increase in PBT was due to higher
contributions from BII and higher net interest income from loan growth of 17.6% from
Greater China (40.5%), Maybank International Labuan Limited (31.8%), Singapore
(13.6%) and BII (27.9%).
Insurance, Takaful & Asset Management registered growth of 10.6% and 14.6% in
revenue and PBT mainly due to higher net income from the insurance business, which
saw improved general business underwriting performance and favourable returns
from equity investments.
Composition of Group revenue and PBT by business segment
Domestic operations accounted for 65.6% of the Groups revenue and 69.7% of its
PBT in FY2013. Overseas operations made up the rest of the Groups revenue and PBT
at 34.4% and 30.3% respectively.
STATEMENT OF FINANCIAL POSITION
The Groups total assets rose by RM65.5 billion or 13.2% to RM560.4 billion as at 31
December 2013 from RM494.9 billion as at 31 December 2012. The strong growth
in assets was attributed to higher growth in loans, advances and fnancing, banks
securities and cash and short-term funds.
Total Group gross loans grew RM44.5 billion or 14.0% y-o-y to RM361.8 billion
from RM317.3 billion on the back of stronger loans growth in Malaysia, Indonesia,
Singapore, Greater China, and Labuan Ofshore among other international markets.
Deposits from customers grew by RM48.4 billion or 14.0% to RM395.6 billion from
RM347.2 billion in the corresponding year owing to strong growth from all three
home markets.
Given the similar growth experienced in loans and deposits respectively, the Groups
loan-to-deposit ratio was only marginally up to 89.9% as at December 2013 from
89.8% the preceding year.
Shareholders funds before non-controlling interest posted a growth of RM 3.9
billion or 9.3% y-o-y to RM46.0 billion from RM42.1 billion. A contributor to the
increase in shareholders' fund was attributable to the Banks issuance of new ordinary
shares during FY2013 through the issuance of ordinary shares pursuant to Maybanks
Dividend Reinvestment Plan (DRP).
GROUP FINANCIAL
REVIEW
Revenue PBT
Malaysia Singapore Indonesia Other International Operations
Group PBT by Geography
FY2013
69.7%
14.1%
7.4%
8.8%
FY2012
69.8%
8.8%
7.0%
14.4%
FY2013
The Groups revenue comprised 37.1% from Community Financial Services, 27.9%
from Global Banking (made up of Corporate Banking, Global Markets and Investment
Banking), 27.1% from International Banking and 7.9% from Insurance, Takaful and
Asset Management.
The Groups PBT comprised 32.1% from Community Financial Services, 34.6% from
Global Banking (made up of Corporate Banking, Global Markets and Investment
Banking), 25.3% from International Banking and 8.0% from Insurance, Takaful and
Asset Management.
13.9%
32.1%
16.1%
4.6%
25.3%
8.0%
8.6%
37.1%
11.5%
7.8%
27.1%
7.9%
Community Financial Services Investment Banking
Corporate Banking International Banking
Global Markets Insurance, Takaful & Asset Management
65.6%
14.7%
13.6%
6.1%
Malaysia Singapore Indonesia Other International Operations
FY2013 FY2012
Group Revenue by Geography
64.8%
15.1%
14.7%
5.4%
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Robust loans growth across all business segments and key home markets
Group Gross Loans in RM' billion FY2013 FY2012 Y-o-Y
(Restated)
Malaysia
^
(RM' billion) 223.6 199.8 11.9%
Community Financial Services 151.9 135.4 12.2%
Global Banking 71.7 64.5 11.2%
Singapore (SGD' billion) 31.0 27.3 13.6%
Consumer 10.6 9.6 10.0%
Commercial 20.4 17.6 15.6%
Indonesia (Rp' trillion) 103.7 81.1 27.9%
Consumer 36.6 27.9 31.5%
Non-consumer 67.1 53.3 25.9%
Other markets 26.3 20.6 27.7%
Group Gross Loans
^
(RM' billion) 361.8 317.3 14.0%
^ Including Islamic financing sold to Cagamas and excluding unwinding of interest
The Groups gross loans increase by RM44.5 billion or 14.0% to RM361.8 billion as
at 31 December 2013, compared with RM317.3 billion posted in the preceding year.
Loans from international operations grew at 17.6%, ahead of domestic loans growth
of 11.9%. From the international portfolio, Indonesia recorded a 27.9% growth in loans
while Maybank Singapore saw its loans grow 13.6%. International loans accounted for
37.9% of the Groups total gross loans as at the end of FY2013.
Domestic Loans in RM' billion FY2013 FY2012 Y-o-Y
(Restated)
Community Financial Services 151.9 135.4 12.2%
Consumer 121.9 108.3 12.7%
Total Mortgage 53.8 48.5 11.0%
Auto Finance 35.0 31.2 12.0%
Credit Cards 5.6 5.4 3.6%
Unit Trust 26.3 21.9 20.5%
Other Retail Loans 1.3 1.3 -1.6%
Business Banking & SME 29.9 27.1 10.4%
SME 6.0 4.9 23.1%
Business Banking 23.9 22.2 7.6%
Global Banking (Corporate) 71.7 64.5 11.2%
Total Domestic 223.6 199.8 11.9%
In Malaysia, our loans expanded at 11.9% driven by strong loans growth in our
consumer, SME and business banking and global banking segments. Our domestic
loans growth exceeded the industry growth of 10.6% for the full year of 2013.
Mortgage loans, which made up 44.1% of our domestic consumer loans, increased
11.0% due to several initiatives implement by CFS, including intensifying promotion
of trade up and renovation loans and campaigns targeted at the secondary market to
accelerate loans growth.
Although CFS was selective in its hire purchase growth, auto fnancing grew 12.0%,
outpacing industry growth of 7.1%, as Maybank customers were ofered integrated
hire purchase product-bundling services. Our auto fnancing market share continued
to strengthen to 21.5% as at December 2013 compared with 20.5% in December 2012.
Business banking and SME segment loans grew 10.4%, owing to operational
improvements and revitalisation of growth strategies. For instance, emphasis for the
Business Banking segment in 2013 was on targeting the right market segments and
sharpening industry focus. Also, CFS avoided high risk areas and enhanced its credit
discipline with 93% of loans secured from very low to moderate risk categories. CFS
led the business enterprise loan market with a 17.8% market share.
Group Gross Deposits in RM' billion FY2013 FY2012 Y-o-Y
(Restated)
Malaysia (RM' billion) 259.1 227.3 14.0%
Savings Deposits 37.6 35.5 5.7%
Current Accounts 65.8 56.9 15.8%
Fixed Deposits 138.3 114.6 20.7%
Others 15.9 18.2 (12.7%)
Singapore (SGD' billion) 34.0 29.9 13.7%
Others 0.5 0.6 (18.5%)
Indonesia (Rp' trillion) 107.5 86.1 24.8%
Group Gross Deposits (RM' billion) 395.6 347.2 14.0%
The Groups customer deposits rose 14.0% to RM395.6 billion as at the end of FY2013.
Deposit growth for domestic operations increased 14.0% while Singapore and
Indonesia operations registered a growth of 13.7% and 24.8% respectively.
In Malaysia, domestic deposits growth was led by fxed deposits growth of 20.7%, as
CFS introduced several fxed deposit tactical and CASA Thematic Campaigns based
on segment needs. Another initiative that helped boost our domestic deposits base
was the introduction of the Premier 1 Account under Maybank ASPIRE to target the
Afuent segment.
In Singapore, stronger growth came from CASA (Current Account Savings Account)
while all deposit accounts in our Indonesian operations saw strong double digit
growth with savings deposits, current accounts and fxed deposits rising 31.3%, 20.5%
and 23.7% respectively.
The loan-to-deposit ratio for the Group increased marginally by 10bps to 89.9% as
at December 2013 from 89.8% the preceding year, but still well within the Groups
threshold of 90%.
The Group continued to prioritise its low cost funds through various strategies, which
resulted in our CASA ratio improving 36.1% in December 2013 as compared to 35.1%
in December 2012.
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GROUP FINANCIAL
REVIEW
Asset quality continued to improve with the Groups net impaired loans ratio
declining further to 0.95% in December 2013 from 1.09% in December 2012,
refecting the Groups practice of prudent credit lending and active management of
asset quality. The Groups net credit charge-of rate was 23bps for the full year.
Loan loss coverage improved to 107.5% from 105.6% a year ago.
Capital adequacy remained strong
The Groups capital adequacy ratios, comprising CET 1 Capital Ratio, Tier 1 Capital
Ratio and Total Capital Ratio remained strong at 11.25%, 13.06% and 15.66%
respectively. The capital adequacy ratios are computed in accordance with BNM's
updated guidelines for Capital Adequacy Framework (Capital Components)
and Capital Adequacy Framework (Basel II - Risk Weighted Assets) issued on 28
November 2012.
We continuously endeavour to maintain adequate levels of capital and an optimum
mix of diferent capital components to ensure sufcient support for the underlying
risks of the Groups business, to optimise growth and to withstand capital demands
under various market conditions.
Capital Ratios
1. Before proposed dividend
2. After proposed dividend, assuming 85% reinvestment rate
3. After proposed dividend, where there is no irrevocable written undertaking, the deduction of proposed
dividend is based on the average of the preceding 3-year reinvestment rates subject to the amount
being not more that 50% of the total electable portion of the dividend in accordance with BNM's
implementation Guidance on Capital Adequacy Framework (Capital Components) issued on 8 May
2013
1 2 3
31 Dec '13
15.66%
11.25%
13.06%
15.43%
11.02%
12.83%
15.35%
10.94%
12.74%
31 Dec '13 31 Dec '13
Total Capital Ratio CET 1 Capital Ratio Tier 1 Capital Ratio
Group
CET 1, Tier 1 and Total Capital Ratio
1 2 3
15.93%
15.49%
15.61%
31 Dec '13 31 Dec '13 31 Dec '13
Bank
CONCLUSION
The Groups regional growth strategy has allowed us to deliver another record proft-
making year in FY2013 while ensuring that the Malaysian operations saw sustained
growth.
Maybank will continue to adopt a disciplined approach in its cost management
practices and focus on improving efciencies Group-wide, especially with the rollout
of the regional-centric organisation structure efective FY2014.
For FY2014, we will look to fortify our dominance in proftable segments domestically,
generate better returns from our international operations. Our targets for FY2014 are:
Return on Equity 15%
Group Loans Growth 13%
Malaysia Loans Growth 12%
Singapore Loans Growth 13%
Indonesia Loans Growth 17% - 20%
Group Deposits Growth 13%
We will also optimise capital in all sectors, focus on higher quality assets, and enforce
risk-based pricing across key products and segments.
DIVIDEND PAYOUT RATIO & GROSS DIVIDENDS
FY11 FP11 FY12 FY13
74.9%
79.9%
74.7%
71.9%
3
2
*

8
6
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1
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3
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Final Interim
* Reinvestment rate for the Dividend Reinvestment Plan
COMMITTED TO REWARDING SHAREHOLDERS
A fnal single-tier dividend of 31 sen on 8,862,079,081 ordinary shares of RM1.00
each, amounting to a net dividend payable of RM2.75 billion has been proposed
by the Board of Directors to be distributed to eligible shareholders. The proposed
single-tier dividend consists of cash portion of 4 sen per ordinary share to be paid
in cash amounting to RM354.48 million and an electable portion of 27 sen per
ordinary share amounting to RM2.39 billion.
If approved, the total net dividend for FY2013 of 53.5 sen per share is equivalent
to a payout ratio of 71.9%, which remains well above the Groups dividend payout
policy of 40-60%.
Asset quality improves
Gross Impaired Loans & Net Impaired Loans Ratio
1.09
1.18
1.09 1.06
0.95
1.78
1.89 1.86
1.83
1.48
Dec
2012
Jun
2013
Mar
2013
Sep
2013
Dec
2013
Net Impaired Loans Ratio
Dividend payout ratio
Gross Impaired Loans Ratio
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ECONOMIC & BANKING
INDUSTRY REVIEW
2013 was a year of two contrasting halves for the global economy. The frst
half was weak amid the fscally-induced deceleration in US growth, stagnant
Eurozone and slowdown in China. The second half was better on pick up in US
growth, easing recession in Eurozone, Chinas stabilising economy and stimulus-
driven acceleration of the Japanese economy. Consequently, the worlds real
GDP growth was steady at 3.1% (2012: 3.2%). However, fnancial markets and
currencies were volatile throughout 2013. Despite the fuid external environment
and turbulent fnancial markets, the Groups home markets of Malaysia,
Singapore and Indonesia sustained positive growth momentum.
Malaysias economic growth moderated to 4.7% (2012: 5.6%) as resilient domestic
demand was ofset by weak exports and soft commodity prices, especially in
the frst half of 2013. Growth momentum in consumer spending, investment
and government expenditure was sustained by the continued accommodative
monetary policy, targeted fscal stimulus and the rollout of major infrastructure
and investment projects under the Economic Transformation Programme,
Regional Development Corridors and Petronas capital expenditure programme.
Singapores economy picked up to 4.1% (2012: 1.9%) as real GDP growth
accelerated after a weak frst quarter in 2013, in tandem with improving global
economic conditions as the year progressed. Exports improved, which benefted
the economy as net external demand accounts for almost 30% of GDP. At
the same time, sustained growth in consumer spending and the rebound in
Government expenditure ofset the decline in gross fxed capital investment,
especially as the property market -thus construction activity cooled.
Malaysia: GDP By Demand and Sectors Growth (%)
2012 2013

Real GDP 5.6 4.7

By Demand
Private Consumption Expenditure 7.7 7.6
Government Consumption Expenditure 5.1 6.3
Gross Fixed Capital Formation 19.9 8.2
Exports of Goods & Services (0.1) (0.3)
Imports of Goods & Services 4.7 1.9

By Sectors
Agriculture, Forestry & Fishing 1.0 2.1
Mining & Quarrying 1.4 0.5
Manufacturing 4.8 3.4
Construction 18.1 10.9
Services 6.4 5.9
Source: Department of Statistics
Singapore: GDP By Demand and Sectors Growth (%)
2012 2013

Real GDP 1.9 4.1

By Demand
Government Consumption Expenditure (1.9) 11.2
Gross Fixed Capital Formation 8.7 (2.6)
Exports of Goods & Services 1.4 3.6

By Sectors
Services 2.0 5.3
Source: CEIC
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Indonesias real GDP expansion eased to 5.8% (2012: 6.3%) as monetary and fscal
policies were tightened to address the twin defcits, stabilise the currency that
depreciated by almost 15% against the US Dollar, and restore confdence in the
countrys macroeconomic fundamentals and management. Tighter monetary and
fscal policies implemented include the cumulative 150bps hike in the benchmark
interest rate and the 44% cut in fuel price subsidies.
Indonesia: GDP By Demand and Sectors Growth (%)
2012 2013

Real GDP 6.3 5.8

By Demand
Government Consumption Expenditure 1.3 4.9
Gross Fixed Capital Formation 9.7 4.7
Exports of Goods & Services 2.0 5.3

By Sectors
Agriculture, Livestock, Forestry & Fisheries 4.2 3.5
Mining & Quarrying 1.6 1.3
Electricity, Gas and Water Supply 6.2 5.6
Services 5.2 5.5
Source: CEIC
OUTLOOK FOR 2014
In 2014, global economic growth is expected to accelerate to 3.5%. The growth
will be on the back of the frst simultaneous expansion in the US, Europe and
Japan since 2011 and as Chinas economic growth stabilises after the earlier
slowdowns, which will be positive for the export-oriented Asian economies.
The Malaysian economy is projected to expand by 5.0% in 2014 (2013: 4.7%)
driven by recovery in external demand, helping to counter some moderation in
domestic demand, especially consumer and Government spending in response to
fscal reform measures such as the subsidy rationalisation. However, investment
will continue to be the fastest growing component of aggregate demand.
Singapores real GDP growth is expected to rise to 3.7% in 2014 (2013: 4.1%) as the
faster anticipated global economic growth frms up external demand, benefting
export-oriented sectors such as manufacturing and trade-related services. This
will help negate the further projected softening in the property market and
construction sector.
Indonesias growth is expected to be sustained at 5.6% (2013: 5.8%) owing to
stabilising monetary conditions driven by the expectations of steady benchmark
interest rate and exchange rate, as well as the normalisation of infation rate
after the surge in 2013. Such conditions should be more favourable to consumer
spending and investment. Indonesias growth will also be spurred by a rise in
government expenditure ahead of the Parliament and Presidential elections in the
second quarter of 2014.
Global Real GDP

% chg 2012 2013 2014
E

World 3.2 3.1 3.5
Advanced Economies 1.5 1.1 2.1
US 2.8 1.9 2.5
Eurozone (0.6) (0.4) 1.0
Japan 1.5 1.6 1.6
UK 0.3 1.9 2.2
BRIC 4.4 4.2 4.4
Brazil 1.0 2.4 2.5
Russia 3.6 1.9 2.6
India 5.1 4.9 5.0
China 7.7 7.7 7.5

Asian NIEs 1.8 3.0 3.6
South Korea 2.1 2.8 3.6
Taiwan 1.5 2.1 3.5
Hong Kong 1.5 3.0 3.8
Singapore 1.9 4.1 3.7
ASEAN-5 6.2 5.2 5.3
Indonesia 6.3 5.8 5.6
Thailand 6.8 2.9 3.3
Malaysia 5.6 4.7 5.0
Philippines 6.8 7.2 6.8
Vietnam 5.2 5.3 5.6
Asia ex-Japan 6.4 6.3 6.4
World Trade Volume 2.7 2.7 4.6
Sources: IMF, Consensus, Maybank-KE
ECONOMIC & BANKING
INDUSTRY REVIEW
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BANKING SECTOR REVIEW 2013
In 2013, banking system loans expanded at a rate of 10.6% year-on-year (y-o-y)
keeping pace with the growth of 10.4% y-o-y in 2012. Household loan growth
remained resilient at 12.0% y-o-y versus 11.4% y-o-y in 2012 and household loans
accounted for 56% of total industry loans as at the end of 2013. Non-household
loan growth waned from 9.1% y-o-y end-2012 to 5.8% y-o-y in June 2013, but slowly
gathered momentum to end the year up 8.9% y-o-y, just moderately slower than a
year ago.
In the consumer segment, residential property loan demand expanded at a robust
pace of 13.5% y-o-y and made up 28% of total loans in 2013. Auto loans, which
accounted for 12% of total system loans, saw growth moderate from a peak of 9%
y-o-y in April 2013 to 6.6% in December 2013. Personal loans growth also tapered
of, expanding just 4.6% y-o-y in 2013 versus 9.0% y-o-y in 2012 while credit card
loan growth remained fairly subdued at 5.4% y-o-y in 2013 versus 1.8% y-o-y in 2012.
Private debt securities (PDS) issuances ended the year on a strong note, with
RM20.7 billion worth of issuances in December 2013 alone, far surpassing the
monthly average of RM6 billion over the past 11 months. With a cumulative total of
RM84 billion, 2013 saw the second highest level of PDS issuance in over eight years,
the highest being RM121 billion in 2012.
Liquidity tightened during the year but remained comfortable, with the industrys
loan/deposit ratio rising from 82.1% end-December 2012 to 84.6% end-December
2013. Against total deposit growth of 8.5% y-o-y, Current Account and Savings
Account (CASA) deposits rose at a faster pace of 10.7% y-o-y and accounted for
26.5% of total deposits as at the end of 2013.
Asset quality remained impeccable, with the industrys gross impaired loan ratio
declining to just 1.85% end-December 2013, after having hovered at around 2%
throughout the year. Loan loss coverage was a healthy 107.6%. Capital ratios
remained strong, with the industrys Common Equity Tier-1 ratio at 12.0%, core
capital ratio at 12.8% and risk-weighted capital ratio at 14.3%.
BANKING SECTOR OUTLOOK MALAYSIA 2014
Economic momentum is expected to remain stable this year. The operating
environment for the banking system nevertheless remains challenging amid
expectations of a moderation in industry loan growth and on-going net interest
margin compression.
Consumer demand is expected to soften in light of the property restrictions that
came into efect early this year as well as amid higher infationary pressures.
Household loan growth as such, is expected to moderate in 2014.
What is positive, nevertheless, is that the Economic Transformation Programme
(ETP) continues to ofer much support to activity on the corporate front. Projects
committed under the ETP total RM224 billion, of which only RM40 billion had been
realised as at the end of September 2013. There is, as such, much more works in the
pipeline to sustain the pace of business loan growth this year as well as activity in
the capital markets. Business loan growth should, as such, gather pace to bufer the
slowdown on the household front.
The other challenge will be in preserving margins this year, for asset and liability
competition remains keen. Moreover, the on-going substitution of the mortgage
book with newer, lower-yielding loans continues to shave yields, albeit at a slower
pace than in 2013.
2013 saw some stress in asset quality on the corporate front but the cases were
isolated in nature and not indicative of systemic risk within the banking system.
Asset quality remains strong in the consumer segment though some vigilance
will be required amid the rise in living costs. Credit costs, meanwhile, are likely to
normalise, given that the pace of recoveries has tapered of.
1,300,000
1,200,000
1,100,000
1,000,000
900,000
800,000
700,000
600,000
500,000
400,000
Malaysia: Industry Gross Loan Growth
Jan-07
Gross Loans (RM mil) (LHS) YoY growth (RHS)
Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13
16%
14%
12%
10%
8%
6%
4%
2%
0%
Malaysia: Industry Asset Quality
Jan-07
Loan Loss Coverage (LHS) Net NPL Ratio (RHS)
Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13
110%
105%
100%
95%
90%
85%
80%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
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COMMUNITY FINANCIAL
SERVICES
FY2013 has shown a steady progress in our transformation journey towards
our 2015 aspiration. We sustained the momentum of our performance with
remarkable double digit growth in our key business portfolios. Fuelled by the
belief and passion to grow responsibly, we have reinforced our alignment in
strategic intent as part of our mission to humanise fnancial services across
Asia.
DATUK LIM HONG TAT
Group Head, Community Financial Services (CFS)
2014 OUTLOOK
We are well positioned to harvest the opportunities arising from anticipated strong domestic economic growth of 5%. Despite tougher competition in the market
against a backdrop of thinning net interest margins and rising overhead costs, our top priority in 2014 remains at strengthening our loans and deposits growth. With
higher double-digit business and proft growth trajectories, our primary focus will be on improving proftability, productivity, cost and risk management. We remain
confdent and optimistic of our market position and we are clear about our strategic priorities and plans while tackling immediate challenges.
2013 PERFORMANCE HIGHLIGHTS
Proft Before Tax (PBT) of RM 3.23 billion and revenue of RM 7.32 billion
for FY2013.
Double digit growth in loans and deposits of 12% respectively.
SME delivered signifcant growth with 23.1% loan growth and 18.2%
deposit growth.
Sound asset quality with continued improvement in gross impaired
loan (GIL) ratio declining from 2.4% in December 2012 to 1.9% in
December 2013, whilst consumer GIL ratio improved from 0.7% in
December 2012 to 0.5% in December 2013.
OUR PRIORITIES IN 2014
Embed segmentation strategy in all products/channels.
Intensify bottom line and revenue returns driven portfolio re-balancing.
Institutionalise Strategic Cost Management Programme (SCMP) and
embracing Operational Excellence in all business lines.
Step up IT Transformation Programme (ITTP) initiatives to build longer-
term competitiveness.
Speed-up execution in the areas where we are going regional.
OVERVIEW
Community Financial Services (CFS) encompasses a wide range of products and services in Consumer, SME and Business Banking space. We are the leader in our market
driven by our strong competitive position in key products. In line with our 2015 aspiration, we have set targets to address near-term challenges in a changing business
environment. We also position ourselves to seize opportunities presented by longer-term megatrends to achieve our vision of becoming the undisputed No. 1 retail fnancial
services provider in Malaysia, with greater trajectory expected for the years ahead vis--vis our aspirational goals and targets.
We are broadening our regionalisation eforts in high value cross border businesses such as cards, wealth management and virtual banking. These initiatives allow us
to leverage on cross-border synergies and reap our full potential regionally. Our aim is to cement Maybanks positioning in the retail and commercial banking space via
consistent branding, value proposition, and operating model in the markets we operate in. We also want to have greater sharing of best practices and collaborate on
common initiatives for better economies of scale on our investment and create greater shareholder value.
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CFS Revenue & Operating Proft (RM' billion)
6.9
7.3
3.0
3.2
6.6%
6.5%
FY12 FY13
Revenue Operating Proft
CFS Loans (RM' billion)
12.2%
SME & BB Consumer
94.9
120.7
Dec' 11
25.8
108.3
135.4
Dec' 12
27.1
122.0
151.9
Dec' 13
29.9
KEY MILESTONES IN 2013
We strengthened our segment-led model and coverage, which resulted in our High Net-Worth (HNW) and
Afuent Banking segments achieving customer and total fnancial asset (TFA) growth of 15.6% and 11.1%
respectively. We also launched Maybank ASPIRE as a new branded segment ofering the frst comprehensive
need base bundled solution for our afuent customer segment. As for our mass segment, our proft per
customer increased 4% due to the implementation of our MaybankOne solution.
We have also gained traction in our regionalisation initiatives and established a regional framework to further
leverage on our cross border synergies. In terms of ITTP initiatives, we expanded our development in key
initiatives to support our multi-channel, ECRM and pricing and bundling strategies.
RM' billion
FY2012 FY2013 Y-o-Y
CFS Gross Loans 135.4 151.9 12.2%
- Mortgage 48.5 53.8 11.0%
- Auto 31.2 35.0 12.0%
- Retail Lending 23.2 27.6 19.2%
- Cards & Unsecured Lending 5.4 5.6 3.6%
- SME & Business Banking of which: 27.1 29.9 10.4%
SME 4.9 6.0 23.1%
BB 22.2 23.9 7.6%
CFS Deposits 154.7 172.9 11.8%
- Consumer 98.4 107.5 9.3%
- SME & Business Banking 56.3 65.4 16.3%
CFS Gross Impaired Loans Ratio 2.4% 1.9% -0.5%
- Consumer 0.7% 0.5% -0.2%
- SME & Business Banking 9.4% 7.4% -2.0%
CFS Deposits (RM' billion)
11.8%
SME & BB Consumer
87.3
138.0
98.4
154.7
107.5
172.9
Dec' 11
50.7
Dec' 12
56.3
Dec' 13
65.4
CFS Gross Impaired Loan Ratio
CFS SME & BB SME Consumer
11.7
10.6
3.5
1.2
9.4
5.7
2.4
0.7
7.4
3.5
1.9
0.5
Dec' 11 Dec' 12 Dec' 13
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2013 PERFORMANCE REVIEW
2013 was a challenging year for CFS owing to ferce market competition coupled
with Bank Negara Malaysia (BNM) regulations to encourage responsible lending.
Notwithstanding that, we continued to sustain our growth momentum in line with
our aspiration of becoming the Undisputed No. 1 Retail Financial Services Provider
in Malaysia. Our revenue and proft continued to register stable growth, with PBT
of RM3.2 billion and revenue of RM7.3 billion. We also remained the largest revenue
contributor to Maybank Group.
We were able to defend our returns through portfolio rebalancing. Despite policy
changes by BNM that involved a reduction in fee charges mainly for electronic
payments, our fee-based income only declined marginally.
Our PBT growth of 6.6% was driven by our initiatives targeting more proftable
segments, increasing cross-selling and product-bundling eforts termed share
of wallet as well as more vigilant application of risk-based pricing for sustained
growth. Alongside these initiatives, stringent cost management strategies coupled
with increased efort on accelerating productivity helped drive our PBT growth.
We continued to lead the fnancial services industry in most of the key areas with
loans and deposits growing at 12.2% and 11.8% respectively, outpacing industry
growth. Loans growth was mainly driven by automobile loans (12.0%), retail fnance
(19.2%), and SME (23.1%). On the deposit front, it was mainly fuelled by SME and BB
deposits growing at 18.2% and 11.0% respectively as well as retail fxed deposits at
10.8%.
While pursuing growth, we have also consciously strengthened our asset quality
with CFS GIL ratio improving from 2.4% in 2012 to 1.9% in 2013. With the right
risk culture embedded, the GIL ratio for consumer loans of 0.5% is the lowest in
the industry while our SME and BB segment has registered a downward trend in its
GIL ratio since the introduction of the House of Maybank in 2012. The success in
managing our GIL ratios are attributed to our eforts in reinforcing the credit asset
quality framework, pursuing proactive prevention and recovery activities as well as
ensuring quality loan origination.
At the same time, we remain focused on managing cost by serving our customers
more efciently without forgoing new business opportunities. This is evident with
our cost to income ratio trending downwards to 50.6% as compared to 51.6% in the
previous year.
HIGH NET-WORTH (HNW) AND AFFLUENT BANKING
We achieved customer growth of 13.3% for HNW and 7.5% for afuent
segments.
Total fnancial assets (TFA) growth of 15.6% and 11.1% for the HNW and Afuent
Banking segments respectively.
Total assets under management (AUM) also grew in tandem, recording y-o-y
growth of 25% to RM10.0 billion.
In 2013, we ramped up our focus on our segmentation strategy. The launch of
Private Wealth in November 2013 aims to leverage on the Banks growing presence
and collective business capabilities to provide ultra-high net worth individuals
a seamless banking experience across the region. Meanwhile, the launch of
Premier Wealth in January 2014 for our HNW segment has united the premium
banking services in Malaysia, Singapore and Indonesia under one franchise. HNW
customers can now enjoy regional service recognition across these three countries.
The journey towards greater customer centricity has also culminated in the Bank
winning eight out of nine categories in Euromoneys Best Private Banking Awards,
among other notable awards listed on page 61.
COMMUNITY FINANCIAL
SERVICES
We also strengthened our segment value proposition for our afuent customers
with the launch of Maybank ASPIRE in June 2013, which ofers a suite of exclusive
privileges to these customers. Maybank ASPIRE is a new branded segment
ofering and the frst comprehensive need base bundled solution in Maybank. It is
designed as a comprehensive fnancial solution for afuent customers and rewards
customers based on their overall relationship with the Bank. It has seen strong
take-up, with about 20,000 customers signing up within the frst six months of its
launch. These initiatives have successfully increased our customers share of wallet
through attractive pricing of products & services. On our end, these initiatives
have encouraged robust migration and increased our customer base in the above
segments.
MORTGAGE FINANCING
Mortgage fnancing increased 11.0% to RM53.8 billion.
Housing loan grew 11.6% to a balance outstanding of RM40.0 billion.
Shop-house loan grew 16.7% to a balance outstanding of RM8.8 billion and
outpaced industry growth, achieving a market share of 14.5%.
Continued downtrend in GIL ratio to 0.7%.
Turnaround time (TAT) improved to 2.15 days.
Mortgage fnancing registered a strong double-digit growth for the fourth
consecutive year. This is a testament to our continued focus on rebalancing our
portfolio strategy, intensifying promotion of trade up and renovation loans, and
aggressive secondary market campaigns to accelerate loans growth. In addition, we
have further strengthened our anti-attrition programmes to improve our customer
retention. During the year, we have extended our overseas mortgage fnancing to
Sydney, Perth and Singapore via our overseas mortgage loan.
Meanwhile, our mortgage GIL ratio has been trending downward to 0.7% as
compared to 1.1% in the previous year due to our mortgage rebalancing portfolio
strategy. The strategy was to target properties with price range at good asset quality
and proftable segment and to concentrate on loan disbursements for secondary
properties to enhance our asset quality.
In December 2012, we have successfully centralised our mortgage approval process
via the Centralised Processing Centre Originator Processor project. Moving
forward in 2013, we implemented further improvements to the processes by
adopting Operational Excellence. This has helped us achieve our TAT of within three
days for mortgage approvals and marked a signifcant improvement of 84.6% in
meeting our TAT against 70.9% last year.
AUTOMOBILE FINANCING
Loans grew by 12.0% to RM35.0 billion.
GIL remained at 0.4% since 2012, lowest in the industry.
We remained No. 1 in Islamic auto fnance. We are also the sole provider of
Islamic foor stocking and block discounting.
Our Hire Purchase (HP) business continued to outpace industry growth with a
steady growth in market share to 20.8%. We remained selective in our growth
through our HP portfolio rebalancing strategy and ofered integrated product
bundling for end-customers based on the broad customer segments and lifestyles.
We have also introduced a customer loyalty and reward programme to increase
customer stickiness.
We further sustained the penetration in the HNW and afuent segments via our
customer-centric programme. We developed segment relationship in our pricing
model by ofering a special interest rate subsidy plan and diferentiated value added
fnancing packages in collaboration with our distributors.
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RETAIL FINANCING
No.1 in Unit Trust Financing in Malaysia with a 56.1% market share.
Unit trust loan fnancing grew 20.5%, with outstanding balance of
RM26.3 billion.
In 2013, we have expanded our product diversifcations and accelerated growth
of high-yielding portfolios in a responsible and prudent manner. We remained
competitive in our loans turnaround time via Straight-through Process (STP) for
unit trust loan applications. With this initiative, we gained higher productivity and
enhanced our customer service quality. Placing our Bank at the forefront of cultural
change, we expanded the education loan to include selected professions and/or
universities and enhanced collateralised fnancing targeted at HNW and afuent
customers. We also customised our fnancing products to cater to this target
market.
MICRO FINANCE
First launched in Dec 2012, a total of RM1.18 million in micro fnancing has been
disbursed to 396 customers as at December 2013.
The product is an unsecured term loan with fnancing amount of RM1,000.00
to RM10,000.00. Currently, there are nine branches ofering this product.
Micro fnancing enables us to provide a viable and sustainable assistance
programme to the poor. This programme also serves as a clear manifestation of
Maybanks aspiration to humanise fnancial services by catering to the basic needs
of the under banked and un-banked segments of the society. While achieving
loans growth, we are also simultaneously delivering customer satisfaction through
such products and services. Moving forward in 2014, Maybank is planning to ofer
this product in 21 other branches.
CREDIT CARD
No.1 in customer cards, with 1.5 million cardholders and a 17.9% market share.
No.1 in billings, growing 12.8% y-o-y to RM30.7 billion, with a 27.3% market
share.
No.1 in merchant sales, growing 12.6% y-o-y to RM36.6 billion, with a 33.9%
market share.
Impaired loan ratio improved to 0.9% in December 2013 from 1.1% in December
2012.
Our merchant sales volume grew as we leveraged on our relationships with
merchants to create greater benefts for our card members and enhanced our
branding, communication and product positioning. In 2014, we aim to achieve
our aspiration of being the top choice in card payment services, through our
commitment of meeting and exceeding customers expectation in the segments
and countries we serve. This year, we continue to reinforce growth in receivables
by intensifying our new customer acquisitions via cross selling collaborations and
strengthening the customers lifecycle strategy.
We strengthened our positioning in the super premium segment by enhancing our
key products penetration, repositioning our value propositions and carrying out
year-long tactical campaigns for targeted customer segments. We also rolled out
Regional Cards initiatives in 2013 including the Regional Mid-Year Sale Campaign,
Regional Partners Programme and Regional TREATS.
FUNDING AND DEPOSITS
Deposits grew 11.8%, spearheaded by retail SME and BB growth of 18.2% and
11.0% respectively.
Consumer deposits grew 9.3%, outpacing industry growth, with a market share
of 18.7%.
No.1 in total CASA (current account and savings account) standing, with a
22.7% market share.
CFS deposits registered a strong double digit growth, with steady growth coming
from fxed deposits during the year. Our growth was done in a prudent manner
by being more disciplined in applying customer-based pricing and interest tiered
pricing.
During the year, we introduced several fxed deposit tactics and thematic CASA
campaigns based on segments as well as rolled out our Premier 1 Account under
Maybank ASPIRE targeting afuent customers. Not only did we focus on promoting
a payroll solution to the SME and BB segment, we also extended direct marketing
eforts by outsourcing and collaborating with external parties and targeting the
supply chain of these customer segments. This helped us grow our mass segment
and SME current accounts through the MaybankOne kiosks.
BANCASSURANCE
No.1 in Banca Life Insurance, with a 27% market share for regular and
normalised single premium policies.
We outperformed the industry with a growth of 4.5% in Banca regular
premium policies versus the industrys contraction of 12% (based on latest
available Q313 results)
With the launch of our Smart Retirement Extra policy, we were able to cater to the
needs of our afuent and HNW customers and the policy also provides tax-relief
incentives, the frst of its kind in the local bancassurance industry. We aspire to build
long lasting relationships with our customers and ensure that the protection needs
of our customers from diferent market segments are met with suitable products.
We have also developed a new sales model, which we will introduce in selected
branches. Under this new model, sales personnel will be better equipped in serving
our afuent and HNW customers end-to-end needs. Looking ahead to serve 2015,
we also have plans to grow our SME segment with the aspiration to be the best SME
bancassurance provider in Malaysia.
RETAIL SME (RSME)
Loans outstanding grew by 23.1%, rising to RM6.1 billion.
GIL reduced from 5.7% in 2012 to 3.5% in 2013.
Deposits grew by 18.2%, with an outstanding balance of RM49.3 billion.
In transforming our SME business portfolio, we have integrated the approval
process at the RSME Credit Centre. We also rolled-out dedicated SME teams at
strategic branches, streamlined policies and processes to improve TAT and business
coverage. During the year, the centralisation of collection at the Early Care Centre
has strengthened our core retail SME scalability and growth. This enables us to have
a collective overview of each customer, enriching our asset quality controls and
enabling a more structured loans collection strategy.
Moving forward, we will continue to ride our growth momentum and focus on asset
acquisition, balancing both secured and unsecured portfolios to increase margins.
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BUSINESS BANKING (BB)
Loans outstanding stood at RM23.9 billion, with a growth of 7.6% in 2013.
GIL reduced further to 8.4% in 2013 as compared to 10.2% in 2012.
We led business enterprise loans disbursements, with a market share of 17.8%.
Continued focus on high growth and high potential sectors.
In 2013, we revitalised our Business Banking growth strategy by targeting the right
market segments and sharpening our industry focus. This has led to 95% of our
business being sourced from the Focus and Growth industry segment. At the same
time, we avoided high risk areas and enhanced our credit discipline via rigorous
adherence to the Borrower Risk Rating framework with 93% of loans sourced from
very low risk to moderate risk categories. This led to better quality loans booked and
asa a result, we expect GIL ratio continue to reduce.
Moving forward, a structured customer experience framework will be implemented
to deliver consistent customer experience for target segments across multi-
channels to increase customer acquisition, migration and retention.
INTERNET AND MOBILE BANKING
In 2013, we maintained our lead in internet banking with a 50% market share
and over 2.1 million active users.
We are the frst bank to introduce comprehensive mobile banking services with
a leading market share of 80%.
As the largest online banking provider and with our orientation of being a digital
lifestyle banking site, we strengthened our position by capitalising on the online
buying trend through the Maybank2u Pay launch. Maybank2u Pay is a payment
facility designed for small or home businesses conducting online transactions
and blog owners can manage sales transactions systematically and professionally
through this service. We also achieved another milestone in digital banking with
the introduction of Malaysias frst card-less cash withdrawal service. To sustain
our leadership in mobile banking, we have enriched our mobile experience and
increased utilisation by mapping relevant internet banking services on mobile
applications. This has translated to an increase of mobile banking users to 1.68
million.
PAYMENTS
Major contributor of fee based income at RM362.7 million
Maybank Money Express (MME) extended to 14 countries with 8,758 touch
points
We grew our fee-based income through the integration of a new income stream
and innovation of new products, services, channels and segments. Our product
penetration rate and cross-sell also increased while our service utilisation of M2U
improved owing to our aggressive recruitment of new payees.
This year, we launched our Dynamic Currency Converter (DCC), Maybank Silver
Investment Account (MSIA), and payment of PDRM summons via our ATMs. The
frst of its kind in Malaysia, DCC enables Mastercard cardholders to convert their
cash withdrawal from Maybank ATMs into their home currency. Meanwhile, MSIA
broadens customers investment options by investing in silver with a passbook.
With our continuous efort in providing our customers with value-added services,
we ofer real-time payment of PDRM summons. These are a few of our innovative
services ofered to better serve our customers.

CHANNEL MANAGEMENT
Unmatched distribution footprints of more than 399 touch points and 2,777
ATMs representing market shares of 20% and 23% respectively.
Enriching customer experience and satisfaction with 51 branches refurbished
and 19 new branches opened
Larger reach to mass customers via the 44 MaybankOne kiosks nationwide
Strategic partnership with POS Malaysia involving 348 post ofces nationwide
We continue to transform our branches, which resulted in higher customer
engagement and satisfaction. To better reach our customers, we have relocated and
opened new branches at strategic locations as well as set up mega branches at each
region to provide 30 of-bank kiosks to our customers. Meanwhile, our strategic
partnership with POS Malaysia has enabled us to reach out to a larger base of rural
communities without the cost of setting up new ofces.
MaybankOne has contributed signifcantly to our business growth as this model
serves our mass market customers more efectively, ofering them an integrated
range of products and services. Total loans and deposits contribution from
MaybankOne stood at RM723.45 million and RM118.20 million respectively, while
our mass segment proftability per customer increased by 4%.
Trying out the new card-less service
(L-to-R): Mohd Suhail Amar Suresh Abdullah, Head of Virtual Banking & Payments, Datuk Lim Hong Tat,
Group Head, Community Financial Services and CEO, Maybank Singapore and Hamirullah Boorhan, Head,
Community Financial Services, Malaysia
COMMUNITY FINANCIAL
SERVICES
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As we progress into 2014, Global Banking remains committed to our
corporate and institutional clients by building on existing and new
relationships to support their business growth. We will continue to focus on
strengthening our regional capabilities and delivery of our regional plans
to ensure sustainable growth and momentum to achieve our 2015 target to
become the leading ASEAN wholesale bank.
DATUK ABDUL FARID ALIAS
Group President & Chief Executive Ofcer
Chief Executive Ofcer (CEO), Malaysia
Group Head, Global Banking (Acting)
2014 OUTLOOK
Overall, the global economic outlook looks brighter
in 2014 as major advanced economies in US, Europe
and Japan simultaneously expand for the frst time
since 2011. We are expecting mixed performance
across Asia ex-Japan. Chinas economic slowdown
has stabilised, and is expected to grow by 7.5%.
In this region, the economic prospects for Malaysia
(GDP growth of 5%) and Singapore (GDP growth
of 4%) remain favourable while a more cautious
outlook has been adopted for countries such as
Indonesia, Thailand and Philippines. Our robust
business model will allow us to weather through any
short-term uncertainties and realise our long-term
potential.
In 2013, Global Banking continued our positive momentum halfway through our 2015 transformation journey and made signifcant progress in pursuing our regional
expansion. We continued to deliver our strategic initiatives and accelerated the rolling out of our regional platforms across key markets in ASEAN and Greater China
to better serve our corporate and institutional clients especially those who require regional platform connectivity.
We also continued to strengthen our regional business models across all our lines of business in the various countries. The improved levels of collaboration resulted
in the capturing of more landmark cross-border regional deals.
Global Banking is well on track to achieve our 2015 aspiration of being the leading ASEAN wholesale bank and primary banking partner to our corporate and
institutional clients across the region.
Further strengthen our coverage model to build strong client relationships across the region.
Aggressively pursue regionalisation of our business models and platforms.
Focus on building Islamic capabilities.
Invest in regional centres of excellence across selective lines of business outside of Malaysia.
Global Bankings revenue increased year-on-year (y-o-y) by 4.0% to RM5.5 billion.
Proft Before Tax (PBT) was recorded at RM3.5 billion.
Loans expanded by 11.2% y-o-y.
Asset quality remained resilient with net impaired loans ratio maintained at 0.52% as in the
previous year.
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BANKING
OVERVIEW
We provide a wide range of fnancing and investment solutions to corporate
and institutional clients in 20 markets through our six lines of business: Client
Coverage, Investment Banking, Global Markets, Corporate Banking, Transaction
Banking and Asset Management.
Overall, the Global Banking business model emphasises our client centric
approach, where the Client Coverage team acts as single point of contact to all
our domestic and regional clients, supported by global banking product specialists
to deliver innovative, customised end-to-end fnancial solutions. Combining local
in-country expertise with regional capabilities, we are able to provide consistent
and integrated fnancial solutions to our clients across the region.
In 2013, Global Banking remained resilient against market challenges and was
able to demonstrate consistency and strength through our business model. We
continued to perform above industry for our loans and deposits, solidifying our
domestic leadership position.
Global Bankings revenue rose by 4.0% to reach RM5.5 billion. We also recorded a
PBT of RM3.5 billion in 2013 (2012: RM3.8 billion). Global Banking loans of RM71.7
billion expanded by 11.2% from the previous year.
Deposits also grew by 20% y-o-y to RM84.6 billion, boosted by our growth
in current accounts of 23.0%. This is a testament to the efectiveness of our
Regional Cash Management platform, which has also been launched across our
key markets in ASEAN and Greater China.
AWARDS & ACCOLADES
We are especially proud to have our hard work recognised through 62 key awards
for Global Banking, of which 30 of these awards are key regional awards, won
from prominent regional and fnancial publications including Asia Money, Alpha
South East Asia, The Asian Banker, Global Custodian and The Asset Triple A
amongst others. Our full list of awards and accolades can be found on page 62.
STRATEGIC THRUST & INITIATIVES
2013 marks the mid-way point of our fve year transformation roadmap and we
continued to deliver our strategic initiatives as planned.
Last year, Transaction Banking promised to focus on growing our capabilities
regionally particularly on launching our regional electronic platforms in the
remaining key home markets. We completed the deployment of these platforms
across the region, which include Cash Management (Maybank2E Regional
Cash Management Platform in Indonesia, Philippines and Greater China on top
of existing platforms in Malaysia and Singapore), Trade Finance (strengthen
platforms already in existence in countries where Maybank has presence) and
the establishment of Supply Chain Centre of Excellence (COE in Indonesia) and
Securities Services (Maybank eCustody front end platform in Indonesia).
Global Markets are now able to better manage the Bank's global risk exposure
after successfully deploying straight through processing of the Global Treasury
Risk Management System across some key Treasury centres.
We also completed implementation of the regional organisation for all Maybank
Kim Eng businesses across 10 countries, with signifcant business presence in
Malaysia, Singapore, Thailand, Indonesia, Vietnam and the Philippines, while
growing our businesses in Hong Kong and India. Our reach also extends globally,
with dedicated sales ofces in the United Kingdom and the United States of
America. We also have presence in the Middle East via Anfaal Capital, our
associate company in Saudi Arabia which specialises in Islamic investment
banking and asset management services.
Asset Management continued to expand its regional footprint with the launch
of PT Maybank GMT Asset Management in Indonesia (November 2013) and
strengthen its capabilities with the launch of Maybank Islamic Asset Management
at the World Islamic Economic Forum in London (October 2013).
Proft Before Tax (RM' billion) Total GB Loans and Deposits (RM' billion)
Revenue (RM' billion)
3.8
3.5
-8.8%
FY 12 FY 13
64.5
70.5
71.7
84.6
Loans Deposits FY 12
FY 13
5.3
5.5
+4.0%
+11.2%
+20.0%
FY 12 FY 13
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Our three strategic thrusts to achieve the Global Banking 2015 Vision
To become the leading ASEAN wholesale
bank, regaining domestic leadership and
aggressively pursuing ASEAN market
expansion by humanising client interactions
Re-invent the corporate relationship model around principles of Humanising Financial Services
Aggressively pursue ASEAN expansion, extending our capability in the current geographical footprint
Enhance productivity through the integration and streamlining of Global Banking businesses and
instilling a high performance culture
CLIENT COVERAGE
The Client Coverage team is an integral part of Global Bankings client centric business model and the cornerstone of every key deal that we structure.
In 2013, our focus was to increase regional deals by enhancing our business model and the manner in which we manage regional and in-country accounts. The
enhancements resulted in signifcant growth in deals originating from markets outside Malaysia, some of which we received awards and recognition from numerous
fnancial publications across the region, including:
Global Banking management hosting corporate clients at various events during the year including Maybank Hari Raya Open House in 2013.
Singapore SGD1.15 billion Syndicated Term Loan for Universal Group Holdings (Pte) Ltd
SGD670 million Syndicated Term Loan for Pacifc Light Energy Pte Ltd
SGD720 million project refnancing for Hyfux Group (Tuaspring Pte Ltd)
USD500 million Multi Currency Islamic Trust Certifcate Issuance Programme for Swiber Holdings Ltd (won Best Local Bond Currency Deal
in Southeast Asia, Alpha Southeast Asia)
Indonesia USD1.5 billion share placement for Matahari Department Store (won Best Regional Deal Secondary Ofering and Best Deal in Indonesia,
The Asset Triple A)
USD1.27 billion Syndicated Term Loan for CT Corp group (PT Trans Retail, PT Trans Retail Indonesia and PT Trans Media Corpora)
USD730 million Syndicated Term Loan for Genting Group (PT Lestari Banten Energi)
Hong Kong & USD1.5 billion Syndicated Term Loan for Huawei Tech Investment Co Ltd
Greater China USD375 million Multi Currency Syndicated Term Loan for Far East Horizon Ltd
Philippines USD1.5 billion Syndicated Revolving Credit Loan for San Miguel Corporation
PHP18 billion IPO for Travellers International Hotel Group Inc
Vietnam USD250 million Syndicated Loan for Vingroup (won Best Vietnam Deal, FinanceAsia)
Going forward in 2014, we will be investing in a system to enable single client information views to improve our client relationship management. The system will
allow us to track deals across the region and provide support to the client coverage teams. Our ultimate goal is to be the primary banker for our corporate and
institutional clients.
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BANKING
INVESTMENT BANKING
In 2013, we completed the integration and roll out of the regional organisation of Maybank Kim Eng.
We now ofer our clients a comprehensive suite of investment banking and stockbroking products and services through our two business pillars, namely Investment Banking
& Advisory (IB&A) and Equities, with services such as corporate fnance, debt capital markets, equity capital markets, equity & commodity derivatives as well as retail and
institutional securities broking (Equities).
The completion of the integration was especially timely as Maybank Investment Bank Berhad celebrated its 40
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anniversary in 2013. We recognise that our continued success is
very much due to the strength of our relationships with our clients, and we are proud to be their partner standing by them through bullish as well as challenging times over the
years. We understand that the key standard goes beyond seamless execution and efcient delivery, it requires a shared commitment of success. This reputation is something that
we value and will continue to guide us as we move forward into the region.
Investment Banking & Advisory
Maybank Kim Eng is fast becoming a regional leader in the investment banking and
advisory space, and we are now ranked among the top players in the ASEAN region.
Supported by Maybanks strong balance sheet and Global Banking's regional client
coverage team coupled with our wide distribution network across the globe, our
regional platform is equipped to provide investment banking services to our clients,
be it equity and debt fund raising or advisory in mergers & acquisitions and project
fnance.
When advising on tailored fnancial solutions, our Advisory team must have an
intimate understanding of both our clients requirements and the corporate milieu.
This includes knowledge and a wealth of experience stretching across various industry
sectors such as resources, fnancial sponsors, general industries, oil & gas, fnancial
institutions, real estate, transportation, consumer and healthcare. This division has
been grouped into three areas: Mergers and Acquisitions, Transaction Execution
Group and Strategic Advisory.
Our strong performance across products propelled us to the top of the investment
banking Dealogic league tables for ASEAN in 2013.
One of the deals that we are particularly proud of is our advisory work for Thai
Beverage Public Company Limited (ThaiBev), which was a concert party to TCC Assets
in the USD11.2 billion acquisition of Singapore listed Fraser and Neave Limited. This
was the largest M&A deal in Southeast Asia in 2013, illustrating the full usage of
the Maybank Groups regional platform to provide advisory and fnancing support
to ThaiBev throughout the transaction. Separately, we also advised the minority
shareholders of CP All Public Company Limited on the USD6.6 billion acquisition of
Siam Makro in Thailand.
In Greater China and Hong Kong, we acted as co-advisors to a private equity
consortium led by Citic Capital on the USD890 million privatisation of Nasdaq listed
Asiainfo-Linkage.
In Malaysia, we maintained our market leading position by advising SapuraKencana
Petroleum on the USD2.9 billion acquisition of SeaDrills tender rig business.
A unique advisory deal in project fnancing was Sime Darby Property Berhads Pagoh
education hub, a Public-Private Partnership (PPP) project involving the Malaysian
Ministry of Higher Education and four separate higher educational institutions on a
single 506 acre site, on a 23 year concession basis. The project was the frst of its kind
in Malaysia and Sime Darby Propertys frst PPP project amounting to RM895.4 million
Syndicated Islamic Financing-i Facilities. We also played a role as Joint Mandated Lead
Arranger.
Chairman Tan Sri Dato Megat Zaharuddin Megat Mohd Nor, Datuk Abdul Farid Alias, Group PCEO of
Maybank and John Chong, CEO, Maybank Investment Bank and Maybank Kim Eng Group during the 40
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anniversary celebration.
Strengthen our regional coverage and distribution network to better
serve our clients.
Innovate and enhance our suite of product oferings and services
across the region.
Solidify our brand presence in ASEAN as the premier investment bank
and stockbroker.
In 2013, Maybank Kim Eng recorded revenue of RM1.54 billion.
PBT increased by 33.4% y-o-y to RM462 million.
Awarded more than 35 awards by various regional and fnancial
publications for brokerage services and deal structures.
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2013 was another landmark year for our Equity Capital Market franchise despite
challenging equity market conditions. We led some of the largest transactions in
Malaysia including the USD750 million IPO for UMW Oil & Gas Corporation Bhd,
USD628 million IPO for Westports Holdings Bhd, USD355 million IPO for AirAsia X,
in addition to the placements for SapuraKencana Petroleum (USD515 million) and SP
Setia (USD305 million).
We were also very active across the region, leading the two largest IPOs in the
Philippines - the USD412 million IPO for Travellers International Hotel Groupand the
USD621 million IPO for Robinsons Retail Holdings Inc as well as the USD295 million
IPO for Viva Industrial REIT in Singapore.
In Hong Kong, we successfully completed two IPOs, having received our underwriting
license only in 2011. We led the USD78 million IPO for Beijing Tong Ren Tang Chinese
Medicine Company Ltd, which was the best performing IPO on debut in Hong Kong in
2013 and the USD70 million IPO for China Saite Group Company Ltd.
Our Debt Markets team ranked second in Malaysia and we are among the top fve
banks in ASEAN in the DCM league tables for 2013.
We acted as lead arrangers for the USD1.9 billion debt fnancing to SapuraKencana
(for the acquisition of SeaDrills tender rig business), USD330 million debt fnancing
for a private equity consortium led by Citic Capital (for the privatisation of Asiainfo-
Linkage) and USD1 billion debt fnancing to Perspective Lane Bhd on its acquisition of
Tradewinds (M) Bhd, Tradewinds Plantations Bhd and Padiberas Nasional.
On the regional front, we made inroads in Islamic fnancing to establish a USD500
million Multi-Currency Islamic Trust Certifcates Issuance Programme for Swiber
Holdings and USD1.5 billion Multi-Currency Sukuk Programme for Sime Darby Global
Bhd, which achieved the lowest ever coupon by any corporate globally in the USD
sukuk market.
We acted as Joint Mandated Lead Arranger for the group wide restructuring of CT
Corp, one of the largest Indonesian conglomerates with total syndication of USD1.27
billion. In Vietnam, we acted as Joint Mandated Lead Arranger in leading real estate
developer Vingroups global syndication loan of USD150.0 million. We are proud to
share the Best Vietnam Deal in the 2013 FinanceAsia Achievement Awards accolade
with our client.
We acted as the Financial Advisor, Mandated Lead Arranger and Bookrunner for
Tuaspring Pte Ltds (a wholly-owned subsidiary of Hyfux Ltd) SGD720 million project
fnancing facility and ancillary credit facilities for a project comprising Singapores
largest and second seawater reverse osmosis desalination plant and an onsite
combined cycle power plant.
Equities
On the Equities side, we believe in staying ahead of market developments by
maintaining a high quality of research ideas and corporate access in addition to having
strong institutional equity distribution capabilities across key global fnancial centres.
Ranked as one of the top brokerages in Southeast Asia, we are committed to growing
our regional franchise and delivering the best value proposition for our clients. Our
regional ofces have also invested in building quality research teams that complement
our experienced institutional sales teams to provide our clients with contrarian,
exciting and value enhancing ideas and trading strategies.
Our growing strength and improved quality is demonstrated by our ofcial
rankings, which have improved dramatically post-merger and are underlined with
awards bestowed by, amongst others, The Asset Triple A, Asiamoney and Alpha
Southeast Asia.
We successfully organised Invest Malaysia for the 4
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consecutive year in
collaboration with Bursa Malaysia. It was a memorable session with Prime
Minister Dato Sri Mohd Najib bin Tun Haji Abdul Razak delivering the keynote
address and Jim Rogers was invited to share investing insights together with
institutional and retail investors. We were heartened by the tremendous response
from both our clients and corporates who were showcased to the investment
community through presentations, small group and one-on-one meetings. This
year, we saw an increase in the number of overseas fund managers fying in for the
meet. We take that as a recognition of the improvement of our regional franchise
since our merger.
In an efort to highlight our regional franchise further, Maybank IB together with
Bursa Malaysia jointly sponsored and organised the Invest Malaysia United States
of America (IMUS) 2013. This event showcased 12 Malaysian corporates on a
week-long roadshow through New York, Boston and San Francisco. Our clients
in the US and other corporates provided highly positive feedback which secured
some large investors for the meetings and presentations.
On the regional front, we are perceived as building on our positive domestic
momentum to increase our presence and market share in the countries in which
we are present. To fulfl the needs of our institutional clients, we have invested
in recruiting strong institutional sales and dealing teams that are dedicated to
providing our clients with the best investment ideas through both traditional and
electronic strategies.
With the growing dominance of our Maybank Kim Eng franchise, our regional
team has organised events and road shows across Asia, the US and Europe to
meet the demands of our clients. Some of our key events hosted include the
ASEAN Investment Conference in New York, Boston, San Francisco and Los
Angeles and the China Baby Boom Corporate Days in Singapore and Malaysia. In
addition, we have showcased numerous Asian companies in the US and Europe
that has increased our recognition with both institutional clients and corporates
alike.
We are also a fully-fedged retail brokerage house providing market access,
fnancing and trading ideas across Southeast Asia. With a distribution network
across the region of 2,000 sales people and 150 physical locations, 2013 was a
year in which the Retail Equities team continued to build on its regional franchise.
To capitalise on digital trends in mobile trading, we unveiled mobile trading
platforms and research applications to enhance our clients ease of trading across
markets and we are honoured to have won awards as The Best Broker in all seven
countries where we have a retail presence. Our Thailand operations hit a record
12
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year consecutive ranking as the top market share player.
As part of Maybank Groups vision to humanise fnancial services, we launched
a market-frst campaign in Malaysia where we will be donating funds for charity
when clients trade in Shariah-compliant shares via Islamic broking accounts. In
2014, we are exploring more ways to support wealth creation in society via micro-
seeding and micro-fnancing funds.
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Our Equity and Commodity Derivatives business comprises two major markets:
exchange traded and over-the-counter equity and commodity products. This is
where fnancial engineering techniques are used to manufacture investment
instruments.The team is also responsible for generating customised solutions,
whether for hedging of equity and commodity risk or derivative funding structures, to
assist our clients in managing their capital and operations.
In Malaysia, we are one of the leading structured warrant issuers in the market. In
2013, the team launched 76 structured warrants with MMCCORP-CP, UEMS-CT
and MAS-CT. To cater to investor demand for additional trading and investment
opportunities we launched our frst put warrants and structured warrants on foreign
shares. We also launched the Equity-Linked Investment Note (ELIN) for high-net
worth clients. The ELIN programme has provided customers with another avenue to
allocate their money into the equity asset class, in addition to the traditional cash
equity market.
In Thailand this year, we are ranked top fve among the 12 derivative warrant issuers
in Thailand issuing 49 warrants, including both call and put warrants. The top three
derivative warrants in terms of volume traded were CPF42CD (Charoen Pokphand
Foods PCL.), BGH42CC (Bangkok Dusit Medical Services PCL.) and THAI42CD (Thai
Airways International PCL).
Our Futures and Options Services team, now present in Malaysia, Singapore, Thailand
and Hong Kong provides opportunities in trading and hedging for retail, institutional
and corporate clients using derivative products. We understand that it is crucial to
help clients stay abreast of market movements. Hence, we ofer comprehensive
reports and commentaries on derivative markets which we believe will help clients in
their investment strategies and risk management.
This year, aside from providing timely and proactive research materials and ideas to
institutional and retail clients both locally and regionally, our Research teams have
been organising thematic conferences and workshops, as well as working visits to
enable institutional investors to gain a deeper understanding of the business profles
of publicly-listed companies.
Fundamental equity research is tailored for institutional clients, with bottom-up
fundamental coverage of more than 350 companies across eight countries, comprising
a mix of large and medium-sized market capitalised stocks. We also cover the small-
sized market capitalised stocks, which are closely tracked by the specialised funds and
retail clients.
Maybank Kim Eng Research has a network of astute research analysts working
alongside our experienced sales and trading professionals to identify opportunities
and provide the perspective to turn insights into trading ideas covering key countries
in the region (including Malaysia, Singapore, Indonesia, Philippines and Thailand) and
major economies such as the United States of America, Eurozone and China.
CORPORATE BANKING
Over the last year, our corporate loans book grew contributing substantially to Global
Bankings y-o-y loans growth of 11.2%. This was a result of us growing responsibly
coupled with strong emphasis over our asset quality. The loans growth was also
largely contributed by our Malaysian corporates portfolios who are involved in the
Governments Economic Transformation Programme initiatives. We also collaborated
with our other product partners on several key prominent deals. In terms of deposits,
we recorded a y-o-y growth of 20.0% to RM84.6 billion (2012: RM70.5 billion).
Corporate Banking contributed a revenue of RM2.3 billion (2012: RM2.3 billion)
notwithstanding a challenging trend of contracting margins as well as stronger
competition from other local banks.
As we move into 2014, our primary focus will be on regional asset growth. We will
also continue to improve our product-suite and capabilities by enhancing our industry
expertise across the region.
TRANSACTION BANKING
Transaction Banking consists of four main lines of business: Cash Management, Trade
& Supply Chain Financing, Financial Institutions & Non-Bank Financial Institutions and
Securities Services. Over the past few years, we have made it our priority to expand
and integrate our regional platforms to enhance our product capabilities and seamless
cross-border delivery. The year 2013 was no exception and we have successfully
deployed a number of existing platforms across the region resulting in our regional
portfolio contributing to almost half of our Transaction Banking revenue:
Launched web-based Regional Cash Management platform (Maybank2E
Regional Cash) in Malaysia, Singapore, Indonesia, Philippines and Greater China.
Launched web-based Regional Trade Finance front end platform (Maybank
TradeConnex) across 11 markets in ASEAN, Greater China and Papua New
Guinea.
Launched web-based Custody front end platform (Maybank eCustody) in
Malaysia and Indonesia.
On the domestic front, we maintained our strong leadership position in Trade
Finance with a market share of 26.8% (as at November 2013), and Cash Management
with market share in transaction volume and transaction value of 47% and 41%
respectively (as at September 2013).
We also garnered 20 key awards for both the service we delivered and the deals we
structured in Trade Finance, Cash Management and Custody solutions by numerous
regional and fnancial publications namely Alpha SEA, The Asset, Asian Banking &
Finance, Global Finance, Global Custodian, GTR Exporta, The Corporate Treasurer and
The Asian Banker.
Moving forward in 2014, together with the Client Coverage team, we aim to extend
our market lead by cementing our position as primary banker for top Corporate
clients, both domestic and regional.
Datuk Abdul Farid Alias, Group PCEO of Maybank, John Wong, Managing Director and Group Head,
Transaction Banking and Carlos Lacerda, Managing Director Microsoft Malaysia at the launch of Maybank2E
- Regional Cash on Windows Phone 8 platform to compliment existing iOS and Android mobile platforms
(March 2013).
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GLOBAL MARKETS
Over the last three years, the regional Global Banking business model has enabled
Global Markets to build a diversifed revenue base strong enough to weather short-
term market uncertainties and less than favourable trading environment.
In 2013, we started deploying straight through processingof our Global Treasury Risk
Management System, across some of our key Treasury Centres. This has allowed us
to better manage the Banks global risk exposure and support cross-border portfolio
growth. As a result, we are able to now support several new products across the
region, allowing us to compete with other top fnancial solution providers. Such
products include Rate Linked Structured Loans & Deposits, Second Generation FX and
Interest Rate Options. The ability to manage complex fnancial products has allowed
Maybank to increase its share in base markets and widen its coverage of corporate
clientele across all sectors.
In 2013, our domestic Global Markets operation contributed RM1.7 billion and RM1.4
billion in revenue and PBT respectively. Across the region, we achieved RM2.4 billion
revenue and RM2.0 billion PBT respectively.
For 2014, our focus will be to continuously improve our risk models and acquire/
nurture talent for identifed growth platforms in Singapore, Greater China and Indo
China. This will be an opportune time for us as our expansion coincides with the push
for growth in North Asia and Mekong Delta regions, where fnancial markets are
relatively infant in terms of depth and breadth of understanding.
ASSET MANAGEMENT
Maybank Asset Management is the fund management arm of the Maybank Group,
providing a diverse range of conventional and Islamic investment solutions to our
retail, corporate and institutional clients. Our strength lies in our regional footprint
and on-the-ground expertise in key ASEAN markets Malaysia, Indonesia, Singapore
and Thailand, supported by strong regional research capabilities.
In 2013, we are proud to have broadened our investment expertise (to cover the
ASEAN region), enhanced product manufacturing capabilities and put in place a
stringent compliance and risk management framework, in addition to expanding our
regional footprint:
Launched Maybank Islamic Asset Management at the World Islamic Economic
Forum in London on 29 October 2013.
Launched PT Maybank GMT Asset Management in Indonesia on 7 November
2013.
Launched our frst global unit trust fund - Maybank Global Bond Fund on 19
November 2013.
Launched our frst branch in Medan, Indonesia on 6 December 2013.
As we grow our Asset Management business in the region, we are encouraged by the
initial results accomplished in 2013. We achieved a remarkable 33.0% growth in Asset
Under Management, growing from RM9.4 billion as at 31 December 2012 to RM12.5
billion as at 31 December 2013.
With the foundation built, we believe that we are moving in the right direction to
realise our aspiration to be a leading asset management company in ASEAN by 2017.
Nor' Azamin Salleh, CEO of Maybank Asset Management Group, Dato' Azian Mohd Noh, Chairman of Maybank Islamic Asset Management, Dato' Sri Mohd Najib bin Tun Haji Abdul Razak, Prime Minister of Malaysia and Datuk
Mohaiyani Shamsudin, Chairman of Maybank Asset Management group at the launch of Maybank Islamic Asset Management in London (October 2013).
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KEY DEALS COMPLETED IN 2013
GLOBAL
BANKING
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Hong Kong
Indonesia
Indonesia
Hong Kong
Indonesia
Indonesia
Singapore
Indonesia
Indonesia
Singapore
PT Trans Retail
USD750 million
Syndicated Term Loan
Mandated Lead
Arranger
PT Cipaganti Citra Graha
IDR68 billion
IPO
Joint Lead Underwriter
PT Astra Sedaya FInance
IDR2 trillion
IDR Bond
PT Matahari
Departmental Store Tbk
IDR14.6 trillion
Share Placement
Co-Lead Manager
PT Media Karya Sentosa
USD155 million
Mandated Lead Arranger
PT Garuda Indonesia
USD50 million
Arranger
PT Lautan Luas
IDR700 billion
IDR Bond
Principal Underwriter
PT Duta Anggada
Realty Tbk
IDR1 trillion
Bonds Programme
Huawei Tech Investment
Co Ltd.
USD1.5 billion
Syndicated Term Loan and
Revolving Credit Facility
PT. Lestari Banten Energi
( A member of the
Genting Group)
USD730 million
Joint Mandated
Lead Arranger
PT ATPK Resources Tbk
IDR1 trillion
Rights Issue
Financial Adviser
Far East Horizon Ltd
USD375 million
Multi Currency Syndicated
Term Loan
Mandated Lead Arranger &
Bookrunner
PT Acset Indonusa
IDR387 billion
IPO
Sole Lead Underwriter
PT Charoen Pokphand
Indonesia Tbk
USD500 million
City Developments Limited
SGD50 million
Islamic Sukuk
Manager
PT Panorama
Sentrawisata Tbk
IDR100 billion
IDR Bond
PT Trans Retail
PT Trans Retail Indonesia
PT Trans Media Corpora
USD1.27 billion
Joint Mandated Lead
Arranger
Hao Yuan Development
Pte Ltd
SGD216.8 million
January 2013
June 2013
December 2013
March 2013
June 2013
December 2013
May 2013
October 2013
September 2013
May 2013
November 2013
December 2013
June 2013
November 2013
January 2013
June 2013
December 2013
February 2013
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Singapore
Singapore
Philippines
Singapore
Singapore
Vietnam Malaysia
Singapore
Singapore
Singapore
Singapore
Malaysia
Singapore
Singapore
Malaysia
Singapore
Philippines
Malaysia
Parkway Pantai Limited
SGD750 million
Club TL & RCF
Swiber Holdings Ltd
USD500 million
Multicurrency Islamic
Trust Certifcate Issuance
Programme
Programme Sole Lead
Arranger, Bookrunner, Global
Coordinator
Travellers International
Hotel Group Inc
PHP18 billion
IPO
Joint Global Coordinator,
Joint Bookrunner & Joint Lead
Manager
Shangri-La Treasury Asia
USD350 million
Mandated Lead Arranger,
Underwriter & Bookrunner
Universal Group Holdings
(Pte) Ltd
SGD1.15 billion
Joint Original Mandated Lead
Arranger, Underwriter
& Bookrunner
Vingroup
USD250 million
Syndicated Loan
Bookrunner
AREIF (Singapore 1) Pte. Ltd
SGD680 million
Original Mandated Lead
Arranger & Bookrunner
W2005/Hines West Fifty-
Third Realty LLC
USD860 million
Senior Secured Loan
Joint Mandated Lead
Arranger
Sime Darby Global Berhad
USD1.5 billion
Multi-currency Sukuk
Issuance Programme
Joint Principal Adviser, Joint
Lead Arranger, Joint Lead
Manager, Dealer, Bursa Listing
Agent & Joint Shariah Adviser
Oxley Gem Pte Ltd
SGD490 million
Club Term Loan
Viva Industrial Trust
SGD463 million
IPO
Joint Bookrunner & Joint
Underwriter
Malakof Power Bhd
RM5.8 billion
Sukuk
Sole Principal Adviser, Lead
Arranger, Lead Manager, Facility
Agent, Shariah Adviser, Trustee
& Security Agent
Measat Satellite Systems
Sdn Bhd
USD280 million
Multi Currency Club Term
Loan
Original Lender (S$ Tranche)
Tuaspring Pte Ltd
SGD720 million
Term Loan & Ancillary
Credit Facilities
Financial Adviser, Sole
Underwriter, Mandated Lead
Arranger, Bookrunner & Original
Hedging Bank
Cerah Sama Sdn Bhd
(A member of Taliworks
Corporation Bhd)
RM750 million
Islamic Medium Term Notes
Principal Adviser, Lead Arranger,
Lead Manager, Facility Agent,
Security Agent & Shariah
Adviser
PacifcLight Energy Pte Ltd
SGD670 million
Mandated Lead Lender
San Miguel Corporation
USD1.5 billion
Syndicated Revolving Credit
Loan
Mandated Lead Arranger and
Bookrunner
Jati Cakerawala Sdn Bhd
RM540 million
Sukuk Murabahah
Manager, Facility Agent &
Joint Shariah Adviser
February 2013
August 2013
November 2013
February 2013
October 2013
October 2013
March 2013
October 2013
January 2013
June 2013
November 2013
January 2013
June 2013
November 2013
January 2013
June 2013
April 2013
January 2013
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Malaysia
Lebuhraya Kajang
Seremban Sdn Bhd
RM400 million
Joint Lead Arranger
Lender
October 2013
GLOBAL
BANKING
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Teknologi Tenaga Perlis
Consortium Sdn Bhd
RM835 million
Sukuk Murabahah
Manager & Joint Shariah
Adviser
Parkson Retail Group
Limited
USD500 million
Senior Unsecured Notes
Co-Manager
AirAsia X Berhad
RM1.14 billion
IPO
Joint Global Coordinator, Joint
Bookrunner, Joint Managing
Underwriter and Joint
Underwriter
DanaInfra Nasional Berhad
RM300 million
Exchange Traded Sukuk
Joint Lead Arranger
Cliq Energy
RM363.6 million
IPO
Placement Agent and
Underwriter
Tanjung Bin
O&M Berhad
RM470 million
Sukuk Wakalah
Security Agent
UMW Holdings Berhad
RM2 billion
Shariah Adviser
Sapura Kencana Petroleum
Berhad
USD1.85 billion
Club Deal
Joint Principal Adviser,
Facility Agent
Sarawak Hidro Sdn Bhd
RM1 billion
Guaranteed Islamic Medium
Term Notes Programme
Joint Lead Arranger, Joint Lead
Manager, Joint Bookrunner
Sunway Real Estate
Investment Trust
RM320 million
Share Placement
Joint Placement Agent
Sapura Kencana Petroleum
Berhad
RM1.64 billion
Share Placement
Joint Principal Adviser, & Joint
Placement Agent
Sapura Acergy Sdn Bhd
RM116 million per month
Universal Enterprise
Resource Planning Hub
Service
Sole Solution Provider
SP Setia Berhad
RM942.9 million
Primary Placement
Sole Adviser & Sole
Bookrunner
Al-'Aqar Capital Sdn Bhd
RM1 billion
Principal Adviser, Lead
Arranger, Facility Agent,
Trustee / Security Trustee &
Shariah Adviser
Malaysia Airports
Holdings Berhad
RM2.5 billion
Senior Sukuk & Perpetual
Subordinated Sukuk
Programme
Lead Arranger & Joint Lead
Manager
Boustead Naval Shipyard
Sdn Bhd
RM2.84 billion
Syndicated Banking Facilities
Joint Lead Arranger
Batu Kawan Berhad
Up to RM500 million
Lead Arranger & Joint Lead
Manager/Joint Bookrunner
January 2013
April 2013
July 2013
February 2013
April 2013
July 2013
February 2013
April 2013
August 2013
February 2013
April 2013
September 2013
February 2013
May 2013
September 2013
March 2013
June 2013
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Malaysia
Westports Holdings
Berhad
RM2.24 billion
IPO
Principal Adviser, Joint Global
Coordinator, Joint Bookrunner,
Managing Underwriter
& Joint Underwriter
October 2013
Malaysia
LTH Property Holdings
Limited
GBP225 million
Syndicated Islamic Term
Financing
Joint Mandated Lead
Arranger
October2013
Malaysia
Pelaburan Hartanah
Berhad
RM500 million
Increase in Fund Size
of AHB
Fund Manager
& Distributor
October 2013
Malaysia
Battersea Project Holding
Co Ltd & Battersea Project
Phase 1 Holding Co Ltd
GBP790.2 million
Syndicated TL/RC/
BG Facilities
Joint Mandated Lead
Arranger & Lender
October 2013
Malaysia
Sime Darby Property
Selatan Group
RM895.4 million
Syndicated Islamic Term
Financing
Financial Adviser, Joint
Mandated Lead Arranger,
Facility & Security Agent
November 2013
Malaysia
Malakof Power Berhad
RM5,380 million
Sukuk Murabahah
Joint Lead Arranger
& Facility Agent
December 2013
Malaysia
Impian Ekspresi Sdn Bhd
RM1.305 billion
Syndicated Financing
Facilities
Coordinating Bank, Sole Principal
Adviser, Sole Lead Arranger, Sole
Lead Manager, Joint Mandated
Lead Arranger, Lender, Facility &
Security Agent
November 2013
Impian
Ekspresi
Sdn Bhd
Malaysia
UMW Oil & Gas
Corporation Berhad
RM2.7 billion
IPO
Transaction Manager,
Joint Global Coordinator,
Joint Bookrunner, Joint
Managing Underwriter & Joint
Underwriter
November 2013
Malaysia
Yinson Production
Limited
USD112.7 million
Joint Mandated
Lead Arranger & Lender
December 2013
Malaysia
Telekom Malaysia Berhad
RM3.0 billion
Sukuk Wakalah Programmes
Manager, Facility Agent,
Trustee & Joint Shariah
Adviser
December 2013
Malaysia
Imtiaz Sukuk II Berhad
RM9.0 billion
Islamic Commercial Papers &
Programme
Joint Lead Arranger & Joint
Lead Manager
December 2013
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MAYBANK'S OVERSEAS
OPERATIONS
With the roll-out of the
new regional organisation
structure in 2014, Maybanks
international operations
(excluding Singapore and
Indonesia) will see a new CEO,
International - Pollie Sim, who
will be driving the growth in
Greater China, Philippines,
Indochina and other markets
to accelerate the tempo of
regionalisation. Our Singapore
operations will be led by Datuk
Lim Hong Tat while BIIs growth
will be steered by its President
Director, Taswin Zakaria. All
three CEOs will report directly
to Maybanks GPCEO.
Saudi Arabia (1)
1 Ofce via Anfaal
Capital
Bahrain (1)
1 Branch
Pakistan (1,212)
1,208 Branches via MCB Bank
4 Branches via Pak-Kuwait
Takaful Company (Insurance)
India (2)
1 Branch via BII
1 Branch via
Maybank Kim Eng
Uzbekistan (1)
1 Ofce via Uzbek Leasing
International
Not in Map:
United States (3)
1 Branch, 2 Branches via Maybank Kim Eng
United Kingdom (2)
1 Branch, 1 Branch via Maybank Kim Eng
Myanmar (1)
1 Representative ofce
Mauritius (1)
1 Branch via BII
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Thailand (51)
51 Branches via
Maybank Kim Eng
Singapore (26)
22 Branches
4 Branches via
Maybank Kim Eng
Indonesia (429)
422 Branches via BII
6 Branches via
Maybank Kim Eng
1 Branch via Maybank
Syariah Indonesia
Papua New Guinea (2)
2 Branches
Laos (1)
1 Branch
China (2)
2 Branches
Hong Kong (3)
1 Branch
2 Branches via
Maybank Kim Eng
Vietnam (155)
2 Branches
145 Branches via
An Binh Bank
8 Branches via
Maybank Kim Eng
Cambodia (16)
16 Branches
Philippines (80)
77 Branches
3 Branches via
Maybank Kim Eng
Labuan (2)
1 Subsidiary
1 Branch
Brunei (3)
3 Branches
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INTERNATIONAL
Overall, 2013 was a signifcant year for International as we made steady
progress in our transformation journey towards our 2015 aspiration. 2014 will
be exciting as the Group embarks on the restructuring journey and the parts
take shape in this year. Leveraging on the International business platform,
we aim to build greater synergy and accelerate proftability of the Maybank
franchise across the international landscape.
POLLIE SIM
Chief Executive Ofcer (CEO), International
Since the start of our transformation journey to
become a regional fnancial services leader fve
years ago, we have emerged as a formidable regional
player with presence in all 10 ASEAN countries and
other key fnancial markets including China, Hong
Kong, Middle East, London, New York and Labuan,
to ofer clients our unique business proposition and
investment opportunities.
Today, we are ready to accelerate to the next level
of regional business performance and operational
excellence that will take us to and beyond 2015.
The recent restructuring of Maybank International as
a strategic business pillar will provide greater focus,
geared towards aligning Maybanks various overseas
markets to be unifed as a common international
platform for business collaboration, product synergy
and customer centric service delivery. It will serve to
place Maybank in a highly competitive position to
deepen our regional leadership.
Under the new structure, the overseas markets
covered by Maybank International are Greater China,
Philippines, Indochina and Other Countries such as
the US, UK, Labuan, Brunei, Bahrain and Papua New
Guinea.
Looking ahead, we will continue expanding our
international footprint, providing greater access and
convenience to our clients.
KEY ACHIEVEMENTS IN 2013
Improved fnancial performance
Our PBT grew 35.2% y-o-y, boosted by a surge in non-interest income which rose 23.0% y-o-y and higher net
interest income by 15.4% y-o-y on the back of healthy growth in loans and advances. Gross loans and deposits
rose by 27.4% and 12.4% respectively, with Greater China leading the growth in corporate term loans and
deposits.
Expansion of distribution network
Our aggressive expansion continued in 2013. Maybank Philippines Incorporated (MPI) added 22 branches to
achieve 77 branches, while Maybank Cambodia Plc (MCP) opened four branches, increasing its distribution
network to 16 branches.
Extended the coverage of various regional platforms
Across the region, we have expanded the Regional Cash Management System (RCMS) to include Indonesia,
Philippines, Hong Kong and China, to cater to regional clients. The coverage of our Regional Trade Finance
platform (TradeConnex) was also extended to Philippines, Beijing, Hong Kong, Laos, Cambodia, Brunei and
Papua New Guinea. We have also rolled out our global ATM network (Global ATM) to our branches in Ho Chi
Minh, Laos and London during the year.
Maximise potential across the region by leveraging on our extensive market reach and wide
product breadth to customise fnancial solutions in meeting clients needs.
Leverage strengths from across the entire bank to ofer smart and holistic solutions to clients.
2014 OUTLOOK
We are positive about the ASEAN outlook in particular Singapore, Malaysia, Indonesia and Philippines, as well
as the growth in Greater China and Indochina, that will be supported by external demand.
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Revenue and PBT (RM' million)
958
20.6
19.0
557
1,127
26.3
21.4
753
Revenue PBT
FY2012 FY2013
Gross Loans and Deposits (RM' billion)
Gross Loans Deposits
FY2012 FY2013
GREATER CHINA
OVERVIEW
Maybank Greater China, consisting three branches in Hong Kong, Shanghai
and Beijing, provides mainly wholesale banking services to the commercial and
corporate segments, with focus in cross-border services within the ASEAN-China
context.
2014 OUTLOOK
Chinas GDP growth is projected at 8.1% (2013: 7.8%), refecting a moderate
improvement in external demand. Economic growth will be driven by the
governments growth-support policies and improved exports.
Revenue and PBT (USD' million)
94
79
102
73
Revenue PBT
FY2012 FY2013
Gross Loans and Deposits (USD' billion)
2.8
1.9
3.6
2.4
FY2012 FY2013
Maybank Greater China's net interest income rose by 18.2% y-o-y to
USD65.3 million attributed mainly to corporate lending activities in
Hong Kong.
Loans book grew 30.9% y-o-y to USD3.6 billion, on the back of an
increase in corporate term loans. Customer deposits recorded an
increase of 25.9% y-o-y to USD2.4 billion, led by strong growth from
Maybank Shanghai.
Enhance product strength and Renminbi (RMB) capabilities.
Strengthen our regional link to capture ASEAN-China cross-border fow.
2013 ACHIEVEMENTS
Closer collaboration between the Group and the Greater China client
coverage team saw the expansion of our client base in China and cross-border
clients. It also strengthened our ability in capturing regional cross-border
deals. More than 65% of loans and trade fnancing transactions are cross-
border transactions between ASEAN and China.
Our treasury capabilities and product range have been enhanced with the
acquisition of a derivative licence by our Shanghai branch during the year.
In addition, we launched the RCMS to meet our regional clients needs.
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INTERNATIONAL
MAYBANK PHILIPPINES
OVERVIEW
Maybank Philippines Incorporated (MPI) is a full-service commercial bank
providing retail and wholesale banking products and services, investment and
asset management services, treasury solutions as well as trust and custodian
services.
Today, MPI has established an extensive network of 77 branches strategically
located in key cities nationwide.
2014 OUTLOOK
The Philippine economy is expected to remain strong with GDP growth ranging
between 6.5% - 7.5% (2013: 7.2%). Aside from ongoing reconstruction and
rebuilding of the typhoon-afected areas, economic activities will be driven by a
vibrant agriculture and industrial sector, especially with the construction of major
infrastructure projects.
Revenue and PBT (Peso' million)
831
678
2,730
3,558
Revenue PBT
FY2012 FY2013
Gross Loans and Deposit (Peso' million)
50,587
33,747
31,556
37,257
FY2012 FY2013
Net interest income rose by 25.9% y-o-y due to an increase in net
interest margin and trade business volume.
Non-interest income grew by 42.6% y-o-y, supported by higher
trading gain, forex proft and fees earned from syndicated and
bilateral loans.
PBT fell by 22.6% y-o-y from RM831 million to RM678 million, mainly
contributed by higher expenses and provision for diminution in value
on securities.
Loans growth remained strong, with an increase of 18.1% y-o-y,
backed by retail banking. Deposits grew signifcantly by 49.9% y-o-y,
led by growth in current accounts.
Grow our presence and market share, particularly in retail banking.
Achieve operational excellence through process and technology
improvements.
Continue to enhance product capabilities.
2013 ACHIEVEMENTS
We saw aggressive expansion of our branch network, with the opening of 22
branches during the year. Our retail banking segment had a strong growth, in
particular the credit card and mortgage business divisions.
In wholesale banking, we clinched landmark corporate fnancing and transaction
banking deals supported by the launch of regional platforms RCMS for cash
management and TradeConnex for trade fnance.
We also secured accreditation to be a settlement bank for stockbroking clients
and saw benefts from the synergy with Maybank ATR Kim Eng in this area. Our
list of awards is on page 62.
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Revenue and PBT (USD' million)
Gross Loans and Deposits (USD' million)
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Revenue
Gross Loans
PBT
Deposits
FY2012
FY2012
FY2013
FY2013
MAYBANK INDOCHINA
OVERVIEW
Within the Indochina region, we are present in Cambodia, Vietnam and Laos.
In Cambodia, our locally-incorporated entity - Maybank Cambodia Plc (MCP) -
provides both retail and commercial services across 16 branches nationwide. We
have two full-fedged branches in Vietnam located in Ho Chi Minh and Hanoi, and
a full-fedged branch in Vientiane, Laos. We also have a representative ofce in
Myanmar.
2014 OUTLOOK
Cambodia is expected to see continued robust growth, driven by improved trade
and as a result of the governments economic diversifcation eforts. Meanwhile,
Vietnams GDP growth is anticipated at 5.6% (2013: 5.4%), supported by an
increase in trade activity and improving global conditions. Laos economy is
expected to maintain its resilience, supported by strong domestic demand and
investment.
Maybank Indochina's PBT grew by 143.5% y-o-y to USD18.3 million,
driven mainly by MCPs net interest income growth of 29.8% and non-
interest income growth of 8.8%.
Gross loans grew by 7.1%, spurred by 13.8% growth from MCP and
more than 100% growth in Maybank Laos. Customer deposits rose
by 9.5% from USD348 million to USD381 million, accounted by 47.4%
growth from Maybank Laos and 19.4% growth in Maybank Vietnam.
Leverage on Maybanks regional presence to link Indochina to the rest
of ASEAN whilst growing the consumer banking portfolio in Indochina.
Strengthen Global Banking and Consumer Banking product capabilities.
2013 ACHIEVEMENTS
MCP celebrated its 20
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Year of Service in Cambodia with the hosting of a
customer appreciation dinner in November 2013. Our long term commitment
to serve Cambodia is refected through the opening of four new branches and
six ofsite ATMs in 2013. We launched TradeConnex, a web-based trade fnance
platform, enabling clients to access our trade fnance services and knowledge
database. We have also successfully performed a Disaster Recovery Live
exercise, modelled after the local disaster scenario.
Maybank Cambodia's award achievement is on page 62.
Maybank Vietnam rolled out Global ATM to its Ho Chi Minh branch in
February 2013. We also tied up with An Binh Bank (ABBank) as a partner bank
for cash management services, enabling us to leverage on ABBanks branch
network as cash collection points.
Maybank Laos saw the implementation of TradeConnex during the year. In
addition, we linked Laos to Global ATM in 2013.
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OTHER COUNTRIES

OVERVIEW
Maybank Groups presence in other markets include three branches in Brunei, two
branches in Papua New Guinea (PNG) and one branch each in New York, London
and Bahrain. We also have an Islamic banking arm in Jakarta. In 2013, we have set-
up an ofshore branch in Labuan - Maybank International Labuan Branch (MILB)
- in addition to our existing subsidiary, Maybank International Labuan Ltd.
ASSOCIATES
MCB Bank
Despite Pakistans challenging economic outlook and a dip in net interest
margin, gross loans grew by 0.83% contributed by an increase in short term
loans. Deposits grew by 14.2%, mostly contributed by CASA accounts.
Revenue and PBT (RM' million)
Gross Loans and Deposits (RM' billion)
390
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414
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Revenue
Gross Loans
PBT
Deposits
FY2012
FY2012
FY2013
FY2013
Other Countries showed an increase in PBT by 80.7% y-o-y, with net
interest income up by 4.7% contributed largely by interest on loans and
advances and trust receipts. On the other hand, non-interest income
soared by 39.7% driven mainly by forex income.
Loans book recorded healthy growth of 19.0% y-o-y boosted mainly by
corporate lending. Customer deposits on the other hand, declined by
11.2% y-o-y.
Strengthen our platforms and product capabilities to be gateway banks
in these overseas markets for our ASEAN clients.
Maybank New York and Maybank London to focus on strengthening
deposit collection.
Maybank Brunei to grow trade and consumer portfolio.
MILB to focus on driving revenue, in particular fee-based income, and
to enhance product capabilities.
2013 ACHIEVEMENTS
This year saw Maybank London launch its frst ATM which links up to our global
network, serving clients transaction needs in the UK.
We have also relocated Maybank New York to a bigger ofce in November 2013,
refecting our long-term commitment and growing business potential in the US
operations.
Maybank Brunei and Maybank PNG launched TradeConnex, a web-based trade
platform ofering ease of accessibility, mobility and convenience to our trade
fnance customers. We have also extended the coverage of our Regional Internet
Banking platform to Maybank PNG in April 2013.
In June 2013, we established MILB to make Labuan a strong platform for driving
business growth ahead.
INTERNATIONAL
An Binh Bank (ABB)
The performance for ABB remains challenging as the State Bank of Vietnam
(SBV) has reduced the discount rates in FY2013 to lower the cost of
borrowing to stimulate the economy.
Meanwhile, loans and deposits showed signifcant increase of 71.3% and 29.0%,
respectively. Loans growth was driven by the low interest rates set by SBV and
the growth in deposits was mainly attributed by the customer deposits mobilised
from the retail segment.
Share of Associates' PBT (RM' million)
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FY2012 FY2013
An Binh Bank MCB
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SINGAPORE
We will harness the capabilities of all three entities including Maybank
Singapore, Maybank Kim Eng and Etiqa, to maximise business potential for
this market. Our country vision is to become a leading fnancial services
provider in Singapore committed to meeting and exceeding customer
expectations in targeted markets. For that, I am truly grateful to my
predecessor, Ms Pollie Sim, for laying a solid foundation for us to build on.
DATUK LIM HONG TAT
Chief Executive Ofcer (CEO), Maybank Singapore
In our regional agenda, one of the key priorities is
for overseas operations to contribute 40% to Group
profts.
On a broad perspective, we will leverage the
collective strengths of Maybank Singapore, Maybank
Kim Eng and Etiqa to help accelerate our goal
achievement and realise the countrys full potential.
Our operations in Singapore will derive major
benefts from the fne-tuning of the Groups
organisational structure to drive strategic directions.
The new structure for Singapore took efect on 1
January 2014, with the appointment of Group Head,
CFS, Datuk Lim Hong Tat as the new CEO, Maybank
Singapore.
2014 OUTLOOK
Singapores economy is forecasted to expand by
24% in 2014. External-oriented industries such as
manufacturing and transportation & storage are
expected to beneft from an improvement in global
demand. However, domestic-oriented sectors could
see relatively slower growth as tight labour market
conditions continue to persist. In particular, the
construction industry could face headwinds from a
drop in private demand for residential projects.
Synergise the combined capabilities of Maybank Singapore, Maybank Kim Eng and Etiqa to provide
a holistic suite of fnancial solutions to our customers in a seamless manner.
Optimise the regional business opportunities and derive synergic benefts within the Group.

Deepen our engagement across key customer segments and ramp-up cross-selling.
Leverage on virtual channels and strategic alliances to widen our customer touch points.
Build up stable deposit source with diferentiated oferings of transactional and wealth
management services.
Expand Islamic oferings to provide alternate fnancing solutions for our customers.
OVERVIEW
As a Qualifying Full Bank (QFB), Maybank Singapore
has established a signifcant presence in the retail
and wholesale banking markets, with a net asset size
of about S$42 billion and over 1,600 staf.
Our network includes 27 service locations in
Singapore, and we are also part of atm5 - Singapores
only shared ATM network among the six participating
QFBs, with a combined reach of more than 130 touch
points and 170 ATMs.
Our underlying strategic thrusts are to strengthen
our domestic franchise and position ourselves
strategically to leverage on Singapores position as
a fnancial centre to spearhead the Groups regional
aspirations with several priorities in place.
2013 FINANCIAL PERFORMANCE
Full year PBT for the fnancial year ended 31 Dec 2013 was
S$414 million. This was 3.7% lower than a year ago due
to the impact of new accounting treatment for efective
interest, which ofset the higher income growth.
Before the impact of accounting adjustment, net fund
based income rose 12.6% and PBT was 10.8% higher
y-o-y. This was underpinned by 13.6% loan growth with
our loans portfolio hitting a record S$31 billion at year
end.
Fee based income of S$285 million was 6.6% higher on
the back of stronger contribution from treasury related
activities, wealth management and credit card business.
Asset quality remained healthy as the gross impaired
ratio was 0.30%, improving from 0.45% the year before.
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INTERNATIONAL
INDONESIA
We closed our 2013 fnancial year with satisfactory results amidst a challenging
environment with PATAMI of Rp1.55 trillion and total assets exceeding Rp140
trillion, growing 22% from the previous year. Our continued transformation
journey has indeed started to bear positive results that augur well for long-
term growth. As we reinforce what we have started and sharpen our strategic
direction, our transformation journey will focus on optimising economic
opportunities end-to-end. In doing so, we will continue to prioritise high quality
services, product innovation, process simplifcation and regional connectivity
with the Group.
TASWIN ZAKARIA
President Director Designate, BII
2014 OUTLOOK
Indonesias economy is expected to grow moderately at 5.6% y-o-y, as the tightening of monetary policies in 2013 would hamper the property sector. However,
infationary pressures are expected to be normalised between 5% and 6% as the impact from a fuel price hike in 2013 will diminish by July 2014. Moreover, Indonesias
current account defcit (CAD) is also expected to improve between 2.8% and 3% of GDP as the Government and Central Bank have implemented several measures to
suppress higher CAD.
Indonesias trade balance defcit and CAD have deteriorated as exports fell and imports increased. In the midst of a sluggish global economy, Indonesias exports have
been falling signifcantly while imports have been increasing in line with robust economic growth. Moreover, the combined uncertainty surrounding the US tapering of
Quantitative Easing and the widening CAD resulted in the weakening of the Indonesian rupiah against the US dollar.
Indonesias economy is expected to grow by 5.7% in 2013 from 6.23% in 2012, driven by slowing private consumption and moderation in investment. Infation surged to
8.38% in 2013 from 4.30% in the previous year, compelled by a fuel price adjustment in June 2013.
Proft Before Tax (PBT) increased 29% to Rp2.2 trillion.
Proft After Tax and Minority Interest (PATAMI) was up by 28% to a
record of Rp1.55 trillion.
Assets increased by 22% to Rp140.7 trillion.
Net loans portfolio grew by 26% to Rp102.0 trillion.
Customer deposits increased 25% to Rp107.2 trillion, contributed by a
signifcant increase in savings deposits of 31%.
Domestic Regional Transformation regional growth orientation to be
aligned to regional economic potential, sharpen our regional coverage
and productivity through better understanding of local business and
associated risks, and regional and branches working to empower
community development.
Retail Banking and Business Banking will focus on serving communities
while Global Banking will serve top tier 1 corporations and state owned
enterprises.
Reorientation of customer segmentation.
Strengthen IT infrastructure.
People development.
Strategic cost management.
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PT BANK INTERNASIONAL INDONESIA TBK
BII operates in all provinces in Indonesia, supported by 422 branches including
Syariah branches and two overseas branches in Mauritius and Mumbai, India.
Operating 1,524 ATMs including Cash Deposit Machines (CDMs) nationwide, we
are one of few banks that connects to all Indonesian banking networks, namely
ATM PRIMA, ATM BERSAMA, ALTO and CIRRUS as well as Malaysias MEPS
network and Maybanks ATMs in Malaysia and Singapore.
We ofer a full range of fnancial services for both individual and corporate clients
through retail, business, and global banking, while our subsidiaries PT Wahana
Ottomitra Multiartha Tbk (WOM Finance) and PT BII Finance (BII Finance) provide
motorcycle and car fnancing respectively.
We aim to be the leading relationship bank in Indonesia by truly being in the
community, serving through customised products and solutions and delivering
high quality of services.
2013 FINANCIAL PERFORMANCE
Our PATAMI for 2013 increased by 28% to Rp1.55 trillion, which was achieved
on the back of solid growth across the Banks core businesses, strong deposit
growth, signifcant proftability improvement of the Banks subsidiaries, and on-
going overall operational improvements. The Banks focus on cost management
and improvement in productivity has also greatly contributed to our full year
performance.
Despite the challenging market condition, our net loans grew by 26% to Rp102.0
trillion from Rp80.9 trillion in 2012. Customer deposits saw strong increase of
25% to Rp107.2 trillion compared to Rp85.9 trillion in the previous year, with
savings deposits seeing the strongest growth at 31% and current accounts
growing 20% while time deposits increased 24%.
The consolidated loan to deposit ratio (LDR) is stable at 93.24%. LDR at the Bank
(excluding subsidiaries) remained at a healthy level of 87.04%, while the Banks
modifed consolidated LDR which includes senior bonds, long-term borrowings
and customer deposits stood at 82.06% as of 31 December 2013.
The Banks net interest income improved by 9% from Rp5.3 trillion in December
2012 to Rp5.8 trillion in December 2013 arising from signifcant loan growth. This
was achieved despite a marginal decline in net interest margin from 5.73% to
5.20% due to challenging market conditions coupled with strong competition in
the industry.
The Banks non-performing loans (NPL) level has been impacted by the rising of
interest rate throughout 2013 as well as a decline in export activities owing to the
current global and domestic economic conditions. As of 31 December 2013, the
Banks gross NPL stood at 2.11% and net NPL at 1.55%. The Bank is nevertheless
stepping up the monitoring of customer accounts as well as credit quality to
ensure that asset quality is well managed and maintained at a favourable level.
ACHIEVEMENTS
In 2013, we have started to enter the micro segment to support micro fnancing in
Indonesia. In line with the focus on the micro fnancing sector, we also launched
a CSR programme to empower women by providing Micro Financing in Makassar.
Together with Maybank Group, we will provide a revolving fund in the amount
of Rp1 billion for members of Asosiasi Pendamping Perempuan Usaha Kecil
(Association for Women with Micro Business) through 29 Lembaga Keuangan
Perempuan (Cooperative for Women with Micro Businesses) spread across fve
regions in Indonesia, namely Sumatra, Java, Kalimantan, Sulawesi and Nusa
Tenggara.
We achieved sustainable growth in Business Banking, with loans growing 30%
to Rp35.3 trillion and SME loans expanding by 35% to Rp13.8 trillion. Meanwhile,
deposit growth was strong at 22% to Rp30.7 trillion. Our expansion to micro
businesses through local community empowerment programmes has generated
signifcant micro loans growth of 328% to Rp146 billion.
Retail Banking has seen a turnaround in its performance, marked by an increase.
The performance of the Banks subsidiaries -PT Wahana Ottomitra Multiartha
Tbk (WOM) and BII Finance - under the Retail Banking management, have also
signifcantly improved and contributed to the Banks overall performance.
Global Banking loans grew by 21% to Rp31.0 trillion from Rp25.5 trillion.
Transaction Banking also grew substantially as Cool Banking Customer increased
by 113%, Trade Volume by 24%, Payroll Customer by 38% and Assets under
Management by 47%.
BII Sharia Banking has shown encouraging results since the implementation of
its revamped business model and will continue to be a products provider across
businesses.
In line with BIIs commitment to better serve the customers needs for banking
services, we have built an electronic banking platform to increase service
payment and transactional banking for retail, business and global banking as it
provides access to BIIs complete product range.
In July 2013, we successfully executed a rights issue of Rp1.5 trillion, to strengthen
our capital structure to support our future business growth.
In October 2013, we also re-opened the Mumbai branch to extend our service to
customers regionally. Our presence in Mumbai is to build synergy and is in line
with the Groups vision to be a regional fnancial services leader.
As part of our transformation process which includes investing in network and
IT infrastructure, we have been recognised by the IT Banking Excellence Award
2013 from Warta Ekonomi magazine as the winner for the commercial bank
category with total Tier 1 Capital of Rp 5 30 trillion. This award acknowledges
that we have successfully implemented information technology for our banking
operations. Furthermore, we received the Best Financial Sector for Good
Corporate Governance Award in the 5th IICD Conference and Award 2013
from Indonesian Institute for Corporate Directorship (IICD), which refects our
transparency in implementing Good Corporate Governance principles.
Our full list of awards and recognition can be found on page 63.
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INSURANCE &
TAKAFUL
Weve achieved another record proft in 2013 and this was made
possible through the hard work and dedication of our employees,
strong collaboration within the Maybank Group and entrepreneurial
spirit of our distributors. To ensure sustainable proft growth, we
have put more focus on our regular premium and fre insurance/
takaful businesses. In line with our humanising tagline, we continue
to be proactive in claims settlement by reaching out to customers
who are afected by unfortunate events like food.
KAMALUDIN AHMAD
Group Head, Insurance & Takaful
Chief Executive Ofcer (CEO), Maybank Ageas Holdings Bhd (MAHB)
2014 OUTLOOK
The insurance and takaful industry growth for 2014
will remain stable owing to domestic demand,
improved risk management and the introduction
of new or enhanced innovative products. Insurance
and takaful players are expected to utilise multiple
distribution options and develop alternative
channels whilst strengthening their agency force to
establish a solid foothold in the industry.
Despite the positive outlook, the industry will
face diverse changes due to the enactment of new
regulations and the risk-based capital (RBC) regime
for takaful. The implementation of the Financial
Services Act 2013 (FSA) and Islamic Financial
Services Act (IFSA) 2013 will see composite insurers
and takaful operators relinquishing their composite
licences, hence splitting the life/family and general
businesses into diferent entities as they are given
fve years to comply with the requirements. The
introduction of the RBC regime for the takaful
sector and the requirement for composite insurers/
takaful operators to segregate their operations
into separate licences for Life/Family business
and General business could lead to another round
of market consolidation. Composite insurers and
takaful operators are likely to dispose parts of their
insurance/takaful operations if the cost of additional
capital becomes a burden as a result of these
regulatory measures outweighing the return that can
be generated.
Also, the Life Insurance and Takaful Framework
is expected to support long-term growth and
development of the life insurance and family takaful
industry as well as protect consumers interest.
Increase focus on proftable classes shifting from Single Premium to Regular Premium.
Increase recruitment of life agents and increase productivity of family takaful agents.

To launch new products focusing on investment-linked, retirement and endowment products.
To embark on high potential opportunities within the on-line business by focusing on customer
portal, mobile web and applications.
For the fnancial year ended 31 December 2013 (FY2013), Etiqas gross written premium (GWP)
slipped 11% to RM4.8 billion from RM5.4 billion in 2012.
However, Etiqa registered a growth of 7% in Proft Before Tax (PBT), rising to RM733.3 million.
Total assets grew 3% to RM28.3 billion from RM27.5 billion in 2012.
Our Takaful business continued to dominate the industry, commanding market shares of 47.3% in
General Takaful and 31.6% in Family Takaful new business.
We have the largest agency force with more than 18,000 agents (both Life/Family and General).
Our Bancassurance is currently No.1 with a market share of 27% for Regular Premium New Business.
We are the only insurance company and takaful operator in Malaysia being assigned Insurer Financial
Strength rating of A for both Etiqa Insurance Berhad (EIB) and Etiqa Takaful Berhad (ETB) by Fitch
Ratings.
EIBs subordinated bonds of RM500 million received long term rating of AA1 from RAM Ratings
Berhad.
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Combined gross premium and contribution slipped 11% year-on-year (y-o-y) to
RM4.8 billion, due to the challenging environment for Life Insurance/Family
Takaful businesses.
Note for *: Dec 2011 restated 12-month fgure.
(Dec 2011 fgure of RM2.3 billion is based on 6 months performance due
to change in Financial Year from June to December).
However, Etiqa registered 7% growth y-o-y in Proft Before Tax (PBT) for FY2013,
rising to RM733.3 million as a result of improved general business underwriting
performance and favourable returns from equity investments. Total assets rose
3% to RM28.3 billion from RM27.5 billion in the previous year.
Note for *: Dec 2011 restated 12-month fgure.
(Dec 2011 fgure of RM280 million is based on 6 months performance due to change in Financial
Year from June to December).

+
: restated fgure due to prior year audit adjustment.
OVERVIEW
As one of the pillars of The House of Maybank, the Insurance and Takaful arm
under the brand name of Etiqa, aspires to be the undisputed leader in Malaysia
and an emerging regional insurance and takaful player. Etiqa is determined to
grow and become a solid pillar for the Group through sizable revenue and higher
proft contributions.
Etiqa ofers a unique and personalised brand of services across all types and
classes of life and general insurance, as well as family and general takaful plans
through a multi-channel distribution network including Bancassurance, Brokers
and Direct Distribution. Our wide range of life and family products include
endowment, term, personal accident, education, investment-linked and medical
insurance while the general conventional insurance and takaful range includes
fre, motor, aviation, marine and engineering policies.

With customers accessibility in mind, Etiqa features a strong agency force
comprising over 18,000 agents and 31 branches throughout Malaysia, plus a wide
Bancassurance and Bancatakaful distribution network with over 400 Maybank
branches and other third party banks. To cater for the netizens, MotorTakaful and
Maybank2u ofer direct sales through the internet. Moreover, Etiqas availability
through cooperatives, brokers and institutions brings us closer to our customers
and increases our reach in the Malaysian market.
We work hand-in-hand with our partners and customers to humanise insurance
and takaful, which is in tandem with the Groups aspiration of humanising
fnancial services across Asia. Etiqas passion is backed by the Groups strength,
expertise and rock solid foundation and driven by the professionalism, empathy,
courage and integrity of Etiqas staf.
In 2013, Etiqa made history when both EIB and ETB were assigned an Insurer
Financial Strength rating of A by Fitch Ratings.
EIB, the conventional insurance arm of Etiqa, is the only insurance company in
Malaysia to be rated A by Fitch Ratings since 2011. The rating refects EIBs strong
business profle in the domestic life and general insurance market, our extensive
distribution capacity, consistent operating performance, sound quality and
prudent investment approach. The rating also acknowledges EIBs solid capital
position on a risk-adjusted basis and sound reserving practices.
Meanwhile, ETBs rating of A, the highest rated takaful operator in Malaysia,
refects ETBs leading position in Malaysias takaful market, our extensive
distribution coverage, an operating history of 20 years, our sound liquidity and
favourable operating margins. The rating also recognises ETBs position as a core
operating subsidiary within the Group.
EIB also received a long-term rating of AA1 from RAM Ratings Berhad on EIBs
subordinated bonds of up to RM500 million. Concurrently, EIBs respective long
and short-term claims-paying ability ratings have been reafrmed at AAA and P1.
Both long-term ratings had a stable outlook.
RM' Billion
6.0
5.0
4.0
3.0
2.0
1.0
FY 2009 FY 2010 FY 2011 Dec 2011 FY 2012 FY 2013
Gross Premium/Contribution
3.6
4.6
4.3
5.4
4.8
4.7*
2.3
RM' Million
800
700
600
500
400
300
200
100
0
FY 2009 FY 2010 FY 2011 Dec 2011 FY 2012 FY 2013
Proft Before Tax
328
418
505
687
+
733
593*
280
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During the same period, Life/Family business declined 20% y-o-y owing to
consumers lower appetite for Single Premium products and stifer competition in
credit-related businesses from third party banks. For General Insurance/Takaful,
the surge in all classes of businesses, except Marine Aviation and Transit (MAT),
led to General business growth of 2% from the previous year.
The contribution of business from the various segments is depicted below:
Note for
+
: restated fgure due to prior year audit adjustment
Overall, takaful gross contribution shrank 10% y-o-y to RM2.3 billion, contributing
49% of Etiqas total gross premium/contribution.
Notwithstanding the drop, the takaful business has continued to dominate the
industry, commanding a market share of 47.3% in General Takaful and 31.6%
market share in Family Takaful new business. (ISM Statistics 12 months ended 30
September 2013)
PRODUCT INNOVATION
In 2013, we delivered on our promise to be the product supplier of choice for our
distribution partners in areas like retirement savings, education planning and
wealth protection. We also launched a range of products to boost our business
growth. The following are Etiqas major new products launched in 2013:
Mabrur
Mabrur is a takaful saving and comprehensive protection plan that complements
customers preparation for Hajj and Umrah. Etiqa provides a One Stop Centre for
customers to plan their Hajj and Umrah better. Etiqa also facilitates the process of
opening a customers account and registration for Hajj with Lembaga Tabung Haji
when the frst Cash Payment is payable. With this plan, opening an account is free
of charge.
Takaful Alif Plus
This product is a regular contribution takaful basic plan that is specially designed
as a savings tool for a childs future education that ofers maturity benefts at the
end of the plans tenure. Participant may also opt for self-coverage to ensure that
the participants child and familys future are fnancially guarded in the event an
unfortunate scenario involving the participant.
Smart Retirement Xtra
Smart Retirement Xtra is a retirement plan that pays customers for a fxed
duration of 10 years after retirement. At the same time, policyholders enjoy the
new tax relief of up to RM3,000 until assessment year of 2021.
Elite Investment Link
Elitelink is a Regular Premium Investment-linked plan which not only ofers
protection for death and total and permanent disability; it also ofers an element
of investment. Customers can also add on the optional riders for a more
comprehensive protection.
Ultra Medic Rider
A hospital and surgical insurance premier medical plan that provides
comprehensive medical coverage of up to RM1.5 million during a persons lifetime
and a choice of fve diferent plans to suit a persons budget and requirement.
INSURANCE &
TAKAFUL
RM' Billion
30.0
25.0
20.0
15.0
10.0
5.0
0
FY 2009 FY 2010 FY 2011 Dec 2011 FY 2012 FY 2013
Total Assets
Life/Family Business
General Business
21.2
22.9
24.2
27.5
+ 28.3
25.2
Regular Premium 48%
Motor 43%
Single Premium 9%
Miscellaneous 14%
Group 7%
Fire 14%
Credit 36%
MAT 29%
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WIDENING OUR FOOTPRINT
The Agency Transformation Plan that ran for two years has been successful in
driving the recruitment and setting up of the infrastructure to build a competitive
yet sustainable Agency Life and Family Channel. Numerous key achievements
include introduction of new compensation plans meant to drive high performance
culture as well as four new incubator ofces to cultivate future Agency Leaders.
Programmes to enhance agents knowledge and increase their productivity are
in-placed to provide total wealth solutions to the customers.
The Bancassurance channel has seen growth in the key business classes such as
Regular Premium New Business and Fire class given the strength and volume of
Maybank customers. The Regular Premium New Business has seen a growth of
7%, and Fire recorded a growth of 6% compared to last year. The channel has also
increased penetration into High Net Worth (HNW) and mass afuent segments,
whereby with the launch of the tax deductible plan Smart Retirement Xtra, the
penetration rate for these segments is more than 40% compared to 9% in the
previous year.
In the Regular Premium New Business bancassurance segment, Etiqa dominates
with a market share of 27% as at third quarter of 2013.
The MotorTakaful on-line business recorded tremendous performance in 2013
with a growth of 48% from last year. In terms of policy count, MotorTakaful users
increased to 38,657 from 27,591 last year. The on-line business was also supported
by a very successful on-line campaign My Cars A Star, which encouraged
participants to submit the pictures of their cars. This campaign has generated
12,150 leads and recorded 5,829 motor policies sold over the campaign period.
The campaign won two awards Gold Award for the Best Social Media and Silver
Award for the Best Digital Marketing Campaign -from the renowned advertising
awards Dragons of Asia 2013 by Promotion Marketing Award of Asia.
LIVING UP TO OUR PROMISES
Being the undisputed leader is more than just numbers, it is about being able
to reach out to our clients and fulfl our promise to them. Etiqa develops proof
points on a yearly basis, meant to fnd ways to live up to Etiqas brand promise
of Humanising Insurance and Takaful. For 2013, Etiqa launched three new proof
points to live up to the Etiqa brand. With the foods taking place during the
monsoon season yearly, Etiqa made the necessary preparation to assist customers
who were impacted by the foods. A special hotline was setup for quicker service;
there were immediate visits by the adjusters at impacted areas and we also had a
special Etiqa Flood assist truck to reach out to our customers.
A special awareness campaign was also conducted at food prone areas to alert
residents on what they need to do if and when a food happens. Special water
proof bags were distributed to residents to secure their valuable documents,
should the need arise.
INTERNATIONAL PRESENCE
In addition to the existing branches in Singapore, Brunei and Pakistan, the
Insurance and Takaful portfolio aspires to complement Maybanks growth
internationally, with emphasis on countries where Maybank has strong
distribution capacity. International expansion will also provide Etiqa with an
attractive opportunity to acquire signifcant presence in high growth markets,
leveraging on two main thrusts: Maybanks overseas operations and Etiqas
expertise in takaful and bancassurance.
Etiqa Insurance Berhad (EIB) Singapore
Etiqa's Singapore branch registered a decrease of 6% in PBT or S$5.57 million
in FY2013 compared to S$5.94 million in the previous year. Revenue recorded
an increase of 7% or S$40.75 million against the previous year (S$38.2 million).
Through rigid and discipline underwriting, the motor premium contribution has
been reduced from 30% to 25% of GWP. On the other hand, there was an increase
in the Fire segment (from 21% to 25%) whilst Marine, Aviation and Transit as
well as Miscellaneous segments remained at 4% and 45% respectively. Overall
distribution channel mix has improved with the Agency as the main contributor
with 51% of sales. Looking ahead, the branch is aiming to capture new market
segments by enhancing product oferings to broaden the market base while
retaining proftability.

Etiqa Insurance Berhad (EIB) Brunei
Etiqa's Brunei branch posted a marginal GWP growth from last year. Etiqa Bruneis
general insurance business is dominated by the Agency channel as the main
revenue contributor (88%), with concentration mostly on corporate and project
risk. The branch aspires to strengthen its portfolio and carve the niches in the
non-motor business besides riding on upside potential of the country.
Pak-Kuwait Takaful Company Limited (PKTCL) Pakistan
Through a 32.5% shareholding in PKTCL, Etiqa Oversea Insurance Private Limited
(EOIPL) is the single largest investor in Pakistans frst takaful company. Despite
many challenges faced in 2013, the companys GWP grew 8% compared to last
year.
ENHANCING CUSTOMER EXPERIENCE
Etiqa is about people and as part of Etiqas brand promise, Etiqa has adopted a
Service to Care strategy to humanise all customer interactions. Acknowledging
that the frst encounter with our customers is crucial, we took a bold step to
abolish the interactive voice response for the Etiqa Oneline Contact Centre.
During the year, Etiqa Oneline handled more than one million servicing calls
and e-mails from Etiqas policyholders and business partners. To provide higher
accessibility to the customers, separate dedicated teams have been set up to
manage policy holders, intermediaries and premier agents. The new set up has
made it easier for our customers to reach out to Etiqa for any enquiries.
In support of Etiqas goal to humanise all customer interaction, we leverage
on our knowledge database system to ensure prompt and complete resolution
of customers queries or requests. With the implementation of a knowledge
database system, we have registered a high contact resolution rate of 93%
resulting from an improved level of team competencies in terms of technical and
behavioural skills.
We received due recognition from the industry in the form of awards from the
Customer Relationship Management and Contact Center Association of Malaysia
(CCAM). We are the only insurance company and takaful operator to have won
awards awarded by CCAM.
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INSURANCE &
TAKAFUL
CORPORATE ZAKAT / SOCIAL RESPONSIBILITY
PROGRAMME
Corporate Zakat Responsibility
The Corporate Zakat Responsibility (CZR) Programme by Etiqa is part of our
commitment to provide zakat contributions to religious institutions as well as
underprivileged groups around Malaysia. For 2013, two CZR programmes were
held in Kedah and Sarawak.
1. June 22, 2013 - CZR Programme in Merbok, Kedah - 80 Etiqa volunteers
brought cheer and fun to more than 450 children by organising a one-day
event at Madrasah Zubaidiyah, Merbok.
2. Dec 7, 2013 - CZR Programme In Kuching, Sarawak - Etiqa contributed
RM121,700 to Madrasah Al-Khairat for the construction of a hostel and
another RM229,210 to Urusetia Saudara Kita.
Corporate Social Responsibility
1. Hey Kids! Lets Lead A Healthier Lifestyle Picnic & Health Hunt
Sept 28, 2013 - About 100 Etiqa volunteers played host to more than 150 kids
from Projek Perumahan Rakyat Pantai Ria, Pantai Dalam in a day of fun and
excitement as they learned about managing a healthy lifestyle.
2. Etiqa Nurtures Camp in Pangsoon, Hulu Langat:
Dec 13 -14, 2013 - About 40 kids of Etiqa staf and agents participated in this
2-day/1-night camp, where they strengthened their leadership ability and
enhanced their survival skills through various classes and activities.
3. Buka Puasa with Community at Masjid Al-Aman, Lembah Jaya
July 26, 2013 - Etiqa Takaful Berhad sponsored a breaking of fast for 300
guests at Masjid Al-Aman, Lembah Jaya.
4. Corporate Responsibility: Assistance for single mothers
July 10 to August 6, 2013 - Etiqa provided stalls to single mothers from
Persatuan Ibu-Ibu Tunggal Lembah Pantai (Association of Single Mothers
Lembah Pantai) to sell food and craft items at Dataran Maybank throughout
the Ramadhan month.
Our full list of awards and recognition can be found on page 62.
AWARD HIGHLIGHTS
AWARD HIGHLIGHTS
CZR HIGHLIGHTS
CZR HIGHLIGHTS
Encik Kamaludin Ahmad, Group Head, Insurance & Takaful with the "Best Non-Life Insurance Company in
Malaysia" award won at the World Finance Insurance Awards 2013.
Encik Ahmad Rizlan Azman, CEO, Etiqa Takaful Berhad presenting a mock cheque to a representative from
Madrasah Zubaidiah, Merbok, Kedah.
Encik Ahmad Rizlan Azman, CEO of Etiqa Takaful Berhad receiving the "Best Takaful Provider" award at the
Islamic Finance News Awards 2013.
More than 150 children from Projek Perumahan Rakyat (PPR) Pantai Ria, Pantai Dalam participated in Etiqas
CSR event: Hey Kids! Lets Lead A Healthier Lifestyle Picnic & Health Hunt.
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ISLAMIC
BANKING
The Islamic Inspired theme across the House of Maybank has
proven efective, resulting in positive outcomes in terms of
fnancials, services, environment and culture. It enables us to
deliver our capabilities on how, when, where and what in response
to our customers wants and needs. We will stay connected with
them and will always strive to be their preferred fnancial partner
in the region.
MUZAFFAR HISHAM
Group Head, Islamic Banking
Chief Executive Ofcer (CEO), Maybank Islamic Berhad
OUTLOOK
The global growth of the Islamic fnance industry is
expected to continue on a strong momentum and
Malaysia is well positioned to be at the forefront
of the industrys development. On the back of
the industrys growth, Maybanks Group Islamic
Banking is on track to enter a new growth phase
through its regionalisation plans while solidifying
its business in the home market. We are confdent
that this is achievable with continuous commitment
and collaboration across the Group in line with our
aspiration of becoming the Global Leader in Islamic
Finance by 2015.
In 2014, we will focus on strengthening our regional
footing to increase contributions from other entities
within Group Islamic Banking whilst sustaining our
leadership position domestically. With recent major
deals on cross-border transactions, we are poised
to be the leading provider of Shariah-compliant
fnancial solutions and the preferred fnancial
partner to bridge world economies to our region.
MAYBANK GROUP ISLAMIC BANKING
For the fnancial year ended 31 December 2013, Group Islamic Banking business grew robustly by
28%, with total income increasing to RM2.8 billion against RM2.2 billion in the preceding year.
Group Islamic Banking business in the home market strengthened whilst internationalisation
initiatives progressed well particularly in the two key markets of Indonesia and Singapore.
MAYBANK ISLAMIC BERHAD
Maybank Islamic sustained its leadership position with a record Proft Before Tax (PBT) of RM1.4
billion, refecting a growth of 17% year-on-year (y-o-y). Total gross fnancing grew by 40% to
RM86.9 billion, contributing 38.9% to Maybank Groups total domestic fnancing.
Maybank Islamic sustained its No.1 market share in Malaysias Islamic banking industry in total
assets, fnancing and deposits with 28.8%, 30.6% and 23.8% respectively. (Source: BNM Monthly
Statistical Bulletin December 2013)
Sustain No.1 market share in Malaysia and to continue to leverage on Maybank Group's
infrastructures.
Strengthen regional presence in our key markets - to be the preferred Islamic bank in ASEAN that
will bridge world economies to our region.
Reinforce Group Islamic Bankings Centre of Excellence - to be the established industry leader in
Islamic banking and fnance, and solidify sound risk management practices.
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Business Segment Results
For FY2013, fnancing grew by 40% y-o-y amounting to an increase of RM24.9
billion, backed by a healthy capital position of RM6.7 billion. The fnancing growth
was fuelled by the Groups Community Financial Services (CFS) and Global Banking
divisions. Financing growth by CFS, comprising consumer, small medium enterprise
and business banking segments, grew 39% y-o-y or RM18.4 billion while fnancing
distributed by Global Banking (GB) rose 45% y-o-y or RM6.5 billion. Deposits from
customers increased RM12.0 billion or 17% y-o-y as both the CFS and GB portfolios
expanded at 28% and 7% totalling RM43.2 billion and RM39.9 billion respectively.
Innovative Financial Solutions
Penetration of Maybank Islamics Shariah compliant products and services has
expanded considerably over the years refecting healthy acceptance amongst retail
and wholesale customers, as our oferings meet their needs, provides additional
value and match their fnancial goals and lifestyles.
Several consumer banking products were launched in 2013 that complement
and leverage on two key strengths of Maybank Group i.e. in the online space via
Maybank2u and electronic banking via ATMs, to further provide fast, easy and
convenient banking to our customers. Maybank Islamic also introduced Maybank
One-i, an innovative fnancial kiosk with fast and hassle-free banking services.
Together with the Maybank Group, Maybank ASPIRE was launched to ofer afuent
customers a diferentiated banking experience and a comprehensive suite of
fnancial products. In addition, a wide range of foreign currency solutions have been
developed to better manage the international exposure and requirements of our
private banking customers. In the SME and Business Banking space, we have further
strengthened and expanded our fnancing products to better service our customers
by reducing turnaround time and to meet customers needs and demands with
the introduction of Shariah Clean Financing-i and SME Property and Business
Financing-i.
Maybank Islamic also continues to work alongside GB to deliver superior Islamic
fnancial solutions to companies and institutional investors. We aim to be the
primary fnancial services partner for corporate investors as we expand our
leadership beyond borders by securing key deals in local and foreign currencies,
further contributing to the growth of the economies that we operate in. On the
sukuk front, Maybank Investment Banking continues to be one of the top three
underwriters according to the Bloomberg Global Islamic Bonds League Table and is
ranked second on the Bloomberg Malaysia Ringgit League Table with a market share
of 7.8% and 19% respectively.
HOME MARKET
Business Performance
FY09
FY09
FY09
FY09
FY10
FY10
FY10
FY10
FY11
FY11
FY11
FY11
FY12
FY12
FY12
FY12
FY13
FY13
FY13
FY13
1.3
39.7
0.7
36.9
1.6
52.4
1.0
58.7
1.8
62.0
1.3
71.0
2.3
86.9
1.4
83.0
1.2
31.8
0.5
27.9
ISLAMIC
BANKING
Maybank Islamic's Total Income (RM' billion)
Maybank Islamic's Financing (RM' billion)
Maybank Islamics Proft Before Tax (RM' billion)
Maybank Islamics Deposits (RM' billion)
4-year
CAGR 13%
4-year
CAGR 22%
4-year
CAGR 25%
4-year
CAGR 24%
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INTERNATIONAL MARKETS
On the international front, 2013 marked another milestone in Group Islamic
Bankings expansion globally. Our cross-border deals saw commendable growth,
highlighted by the launch of Maybank Islamics frst Islamic mortgage in pound
sterling, in conjunction with the 9
th
World Islamic Economic Forum held in the UK.
Group Islamic Banking also made a major breakthrough when it secured its frst
pound sterling fnancing deal with Lembaga Tabung Haji, the frst deal of its kind by
a Malaysian Islamic bank. This will elevate Maybank Islamics capability to compete
with global players in London, one of the worlds leading fnancial centres.
In Singapore, our Islamic arm has introduced more industry frsts to the market,
with the launch of home fnancing and commercial and industrial property fnancing
for Malaysian properties and auto fnancing. Our Maybank Investment Banking
team also acted as the sole lead arranger, global coordinator and the Shariah
adviser of Singapores Swiber Capital Pte Ltd's inaugural sukuk, the frst wakala
sukuk structure and the largest Singapore dollar sukuk issuance by a Singaporean
corporate in the lion city. Total assets and deposits recorded a signifcant y-o-y
growth of 89% and 28% respectively, due to signifcant expansion of customer base.
In Indonesia, Bank Internasional Indonesias Unit Usaha Syariah (BII UUS) saw
signifcant y-o-y growth in total assets and deposits of 91% and 402% respectively.
By being customer-focused, BII UUS has launched its innovative mortgage solution
based on the Shariah contract of musyarakah mutanaqisah, providing customers
with the unique value proposition of lower down-payment requirement. In 2013, we
also focused on expanding BII UUS's distribution by increasing our leverage on BII's
delivery networks. This resulted in an increase to 269 registered Ofce Channelling
(OC) branches from 105 registered OC branches in 2012.
Moving forward, we will continue to leverage on our position as the leading bank
in ASEAN to further intensify cross-border linkages within the region (specifcally
between Malaysia, Indonesia, Singapore and Brunei) as well as between ASEAN, the
Middle East and key fnancial centres across the world.
Centre of Excellence (COE) for Shariah and Risk Management
The continuous execution of initiatives by Maybank Islamic under the COE has
once again made us the industry reference point on Islamic banking and fnance
matters. Among these initiatives include the launch of Shariah scholarship for
undergraduates and post graduates, strategic collaborations with International
Centre for Education in Islamic Finance (INCEIF) and International Islamic
University Malaysia (IIUM), development of thought leadership in Islamic fnance
publications and the mainstream newspapers as well as market engagement via
interactive Shariah risk management series.
On the risk management front, Maybank Islamic currently adopts the
integrated risk management approach established by the Maybank Group. Our
risks are systematically managed with proper risk governance, infrastructure
and tools embedded throughout the Group Islamic banking businesses. This
approach ensures efective management of enterprise-wide risks posed by
the rapidly changing business environment. In accordance with Bank Negara
Malaysias regulatory requirements, Maybank Islamic has also put in place a
comprehensive Shariah Governance Framework to ensure efective and efcient
oversight by the Board of Directors, the Shariah Committee, the Management
and Business Units on business activities and operations carried out by its
business pillars.

Giving Back to the Community
Maybank Islamic always believes in being at the heart of the community, in
line with the Groups mission of Humanising Financial Services across Asia. In
addition to creating opportunities and growth through our business, we aim
to fulfl our social responsibility by fostering unique and sustainable values
that have a positive impact on society. Our focus in 2013 centred around three
key areas, namely improving communities welfare through zakat contribution
and qurban, talent development within the industry and promoting childrens
health. From our FY2012 profts, our major focus of improving the communities
welfare was through zakat contribution totalling RM15.2 million to States
Pusat Zakat and Asnaf community groups. As part of the zakat project,
we collaborated with Islamic Relief Malaysia in providing food aid during
Ramadhan to ease the burden of about 8,800 poor and needy families at
35 selected mosques nationwide. Maybank Islamic continued with Qurban
Perdana Maybank this year as a tribute to communities that extended support
to Maybank and the launch took place simultaneously in several locations
across Malaysia as well as Singapore, Indonesia and Brunei. Maybank Islamic
in partnership with the National Heart Institute (IJN) sponsored pediatric
heart patients to undergo specialist medical treatment at IJN. In partnership
with INCEIF and the International Shariah Research Academy for Islamic
Finance (ISRA), Maybank Islamic took part in the initiative to focus on talent
development within the industry ofering sponsorship for students to undertake
the Chartered Islamic Finance Professional (CIFP) programme. These initiatives
embody our commitment to embark on a long term Corporate Responsibility
programme in support of social welfare in Malaysia and across ASEAN.
Our full list of awards can be found on page 63.
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SHARIAH
COMMITTEE
(Chairman)
Mufti of Perak State Government
Tan Sri Dato Seri (Dr) Hj Harussani
is a member of the Meeting
Council, Islamic Council and Malay
Customs for the Government of
Perak and the Chairman of the
Perak State Shariah Committee. He
also sits on the Board of Directors
of Perak State Islamic Economic
Development Corporation. He has
served Takaful Nasional Berhad since
1993 as a Shariah Advisory Council
member. He currently serves as
a Shariah Committee member of
Bank Pembangunan & Infrastruktur
Malaysia Berhad and Amanah Raya
Berhad. He was conferred a PhD
(Darjah Kehormat Doktor Syariah) in
2001 from University of Malaya.
He is also a member of the National
Fatwa Council, a member of the
Council of University Islam Malaysia
and a Board member of Kolej Islam
Perak. Tan Sri was conferred a PhD
in Islamic Studies from Universiti
Pendidikan Sultan Idris (MPSI) in
2010.
(Member)
Associate Professor at Graduate Studies
Advisor, Shariah and Legal Studies Department,
International Centre for Education in Islamic
Finance (INCEIF)
Associate Professor Dr Ahcene
Lahsasna (PhD, CIFP, ACIP, RFP,
Shariah RFP, Shariah Advisor) is
currently a lecturer at INCEIF. He is
also the Graduate Studies academic
advisor at the same institution. He
received his bachelors degrees in
Islamic law and Islamic jurisprudence
from Algeria, and his Masters
and PhD degrees in Islamic law
and Islamic jurisprudence from
International Islamic University
of Malaysia (IIUM). Currently, Dr
Lahsasna is a registered Shariah
advisor with Bank Negara Malaysia
and the Securities Commission of
Malaysia; serves as Shariah board
member of Maybank Islamic Etiqa
Takaful and the Shariah Advisory
Council of MFPC. Dr Lahsasna has
been appointed by the Finance
Agency Accreditation as FAP (FAA
Accreditation Panel).
(Member)
Assistant Professor, Ahmad Ibrahim Kulliyyah
of Laws, IIUM
Dr Mohammad Deen Mohd Napiah
is currently an Assistant Professor
at the Ahmad Ibrahim Kulliyyah of
Laws, IIUM. He had been appointed
as Head, lslamic Law Department
and subsequently promoted as
Deputy Dean (Student Afairs) at
the same faculty. He obtained his
frst degree in Shariah & Islamic
Studies from the Kuwait University.
He holds a Doctorate of Philosophy
from Glasgow Caledonian University,
Scotland. Prior to his appointment
as a member of the Shariah
Committee of Maybank in 2005, he
was the Shariah Advisor for EON
Bank Berhad from 1997 to 2003.
He is currently a Shariah Advisor to
Amanah Hartanah Bumiputera since
2010, an Academic Assessor for the
Malaysian Quality Agency (MQA)
since 2001 and also a member of
the Working Committee for Halal
Terminologies and Nomenclatures
with SIRIM. Dr Mohammad Deen
is a registered Shariah Advisor for
the Islamic Unit Trust Schemes and
Islamic Securities (Sukuk) with the
Securities Commission. He was
recently appointed as a member of
the Disciplinary Committee Panel,
Advocates & Solicitors Disciplinary
Board of the Malaysian Bar Council.
(Member)
Assistant Professor, Ahmad Ibrahim Kuliyyah of
Laws, IIUM
Dr Ismail bin Mohd @ Abu Hassan
graduated with First Class honours
in Shariah from the University of
Malaya and subsequently obtained
his LL.M in Comparative Laws from
SOAS, London. He then obtained his
PhD in Comparative Law of Evidence
from the University of Manchester,
United Kingdom. Dr Ismail has
served as a lecturer at the Kulliyyah
of Laws, IIUM for more than 15
years. Dr Ismail sits as an advisor
in various reputable institutions
such as Amanahiba Malaysia, Uqud
Baraka Malaysia Sdn Bhd and HTHT
Services Singapore. He is also the
Shariah Committee member of the
Waqf Management Committee,
Majlis Ugama Islam Selangor, Infaq
lil Waqf ANGKASA, Etiqa Takaful
Berhad, Waqf Selangor Muamalat
and Amanah Hartanah Berhad. In
addition, he is also a board member
of Perbadanan Waqf Selangor Darul
Ehsan and Etiqa Takaful Berhad. He
is a registered Shariah Advisor for
the Islamic Unit Trust Schemes and
Islamic Securities (Sukuk) with the
Securities Commission and Amanah
Hartanah Bumiputera.
Tan Sri Dato Seri (Dr) Hj
Harussani Hj Zakaria
Dr Ahcene Lahsasna Dr Mohamad Deen Mohd Napiah Dr Ismail bin Mohd @ Abu Hassan
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(Member)
Lecturer at University Malaysia Sabah
Encik Sarip is currently a lecturer at
University Malaysia Sabah (UMS)
specialising in Shariah, Muamalat
Islam and Islamic Finance. He
obtained his frst degree in Shariah
from University of Al-Azhar, Mesir
and Masters in Fiqh and Usul Al-Fiqh
from University of Jordan, Amman,
Jordan. Encik Sarip is currently
pursuing his PhD in Shariah at
Universiti Kebangsaan Malaysia
(UKM) and is also an advisor for
UMS' graduate student programme.
(Member)
Researcher at International Shariah Research
Academy for Islamic Finance (ISRA)
Dr Marjan Muhamad is the Head of
the Research Afairs Department at
the International Shariah Research
Academy for Islamic Finance (ISRA).
Prior to joining ISRA, she was a
tutor in the Faculty of Judiciary and
Law at Islamic Science University
of Malaysia. She obtained her
frst degree in Islamic Revealed
Knowledge and Heritage (Fiqh and
Usul al-Fiqh) from IIUM in 1998 and
pursued her Masters and PhD at
the same university, both in Islamic
Revealed Knowledge and Heritage
(Fiqh and Usul-Fiqh) feld. Since her
involvement at ISRA, she has been
actively producing various research
papers and articles internationally on
Islamic Finance. Previously, she was a
Shariah Committee member of RHB
Islamic Bank from 2011 to 2013.
(Member)
Researcher at ISRA
Dr Mohamed Fairooz is a researcher
at ISRA and coordinator for its
Islamic Banking Unit. Prior to joining
ISRA, he served IIUM for eight years
as a lecturer at the Department
of Islamic Revealed Knowledge
and Human Sciences. He is also a
registered Shariah advisor with the
Securities Commission, Shariah
committee member of MNRB
Re-Takaful, and chairman of the
Shariah Committee of AGRO Bank.
He obtained his PhD and Masters in
Shariah from University of Malaya
with specialisation in Fiqh, Usul
al-Fiqh and Islamic Finance, and a
Bachelors Degree in the same feld
from IIUM. Previously, he served
as a Shariah advisor to Malaysian
Industrial Development Finance
Berhad.
Encik Sarip bin Adul Dr Marjan binti Muhammad Dr Mohamed Fairooz bin
Abdul Khir
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GROUP HUMAN
CAPITAL
SUSTAINING TALENT AND LEADERSHIP DEVELOPMENT
As the Group accelerates and deepens its regionalisation initiatives and focusses
on reaping synergies from the vast footprint, our Group Talent Management (TM)
system is adapted to stay a step ahead to deliver the right talent with the right
skills to meet business needs. We have deployed global best practice processes
in identifying our talent pool, comparable to or better than top performing
organisations worldwide. Benchmarked against Saratogas Institute LDA
(Leadership Development Audit), we have been rated at Global best practice for
fve out of seven aspects and good practice for the remaining two.
A critical element of a successful robust talent management framework is
sustaining a reliable and consistent internal source of talents to assume
leadership roles as they become available. Our talent pipeline programmes target
diferent pools of talents from junior to senior leaders.
Our key talent indicators and succession realisation are trending in the right
direction and is at its highest levels since 2008. In 2013, we have higher visibility
of our talents across the Group as we expanded our multi-talent reviews to
Greater China and Indochina, as well as Maybank Kim Eng. We continue to
achieve 100% completion of our multi-talent reviews across the group. This had
led to increasing the successor pool for critical positions by over 130% in 2013
since 2008. At the same time, the readiness of our successors to assume critical
positions or larger roles has also increased in 2013 to 37% since 2008.
Our target to grow our own talents by flling 8 out of every 10 vacancies with
internal talents was achieved with more than 70% of vacancies flled internally
in 2013. Over 100 talents have been deployed in cross border assignments and
regional projects as compared to 54 in 2012 and 11 in 2011. There were 25 Long
Term Assignments in 2013 compared to 17 in 2012, attesting to the success of our
pipeline programmes to nurture our talents to be agile and geographically mobile.
Our holistic GO Ahead EVP has signifcantly reduced our regrettable loss by 33%
since 2008. Our multi-tier recruitment strategy to ensure a strong talent pool
continues to garner interest amongst top talents in the region.
The 2
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Maybank Go Ahead Challenge (MGAC) involved participants from 10
countries with 13 nationalities for an international business case competition. It
garnered over 5,000 applications, a fvefold increase from 2012 as we expanded
to four new countries where Maybank has presence. We also introduced a new
award ofering the Top Winner with a two weeks internship at Maybank New York
Our ability to track and adapt to our business needs and
challenges have contributed to enable regional performance and
outcomes, such as improvements in people engagement, raising
productivity levels and sustained superior fnancial performance
that provide the impetus for the Group to create truly competitive
diferentiators from our peer group.
NORA ABD MANAF
Group Chief Human Capital (HC) Ofcer
Our people indicators are ahead of local benchmarks as well as competitive
with global best practices. We have achieved positive traction for all our
key talent metrics and our tracked indicators are trending in the right
direction.
We received recognition as the only Asian organisation to be recognised
internationally for our superior fnancial performance and best People
Practices by Towers Watson listed in the Towers Watson Global High
Performing Company Norm list which serves as a benchmark for high
performing companies.
Maybank emerged as Winner of the Banking & Financial Services Category
for the third year in a row in Malaysias Top 100 Leading Graduate Employer
Awards 2013, ahead of local and foreign fnancial institutions. Maybank also
further improved in the overall ranking, moving up to No.2 in 2013 from
No.3 in 2012 and No.5 in 2011.
Our productivity has improved as we align with the key strategic objectives.
Net income per employee rose to RM388,067 in 2013 from RM351,517 in
2012 while Proft Before Tax (PBT) per employee increased from RM167,142
in 2012 to RM185,669 in 2013. Overall revenue per staf cost is 3.8 times
staf cost per staf.
Accelerating High Performance Culture.
Optimising cost.
Creating competitive diferentiators and sustainability of transformation by
deploying Group-wide interventions.
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and USD1,000. 85% of the 54 Grand Finalists has joined the Maybank Group.
The MGAC sponsored and supported fresh graduates to develop and run the
Challenge and is now a market standard. Fresh graduate direct recruitment costs
reduced by 32% with the ability to tap on the Challenge participants database.
Finalists are given conditional ofer of employment, primarily to join the Global
Management Apprentice Programme (GMAP).
The Maybank Scholarship Awards for both local and overseas studies ofered 50
awards with total disbursement under full scholarship scheme for 112 Maybank
scholars pursuing various stages of study of close to RM8 million, since the
scheme began in 1972. The programme for scholars had been strengthened
since 2010 where scholars are involved in Maybanks learning and development
initiatives through a mentoring programme, internship opportunities during
vacation and training workshops to nurture their professionalism and personal
development.
Apart from these junior development programmes, Maybank also has its own
signature home-grown entry-level programmes as follows:
Global Maybank Apprentice Programme (GMAP). A two year on-the-job
programme for graduates to explore and experience structured job rotations,
which includes a six-month international assignment. The GMAP encourages
cross-border exposure and networking amongst young talents, and is rolled
out in Malaysia, Hong Kong, China, Indonesia, Singapore, Cambodia and
Vietnam.
Branch Management Entry Level Programme (BMELP). Designed to groom
aspiring branch/centre managers by providing targeted learning and skill sets
through intensive training experience in branch management.
Maybank/Ernst & Young Associate Programme. Associates undergo a three-
year attachment at Ernst & Young as auditors while earning their professional
accounting certifcation, fully sponsored by Maybank.
Maybank Internship Programme. Provides an initial overview of the industry
coupled with structured learning objectives as interns grow into working
professionals.
Also last year, we developed the High Potential-Performer Integrated Programme
(HIP) to nurture high potential juniors and performing talents to increase their
readiness in assuming key positions within the Group. More than 700 talents
have been enrolled with programmes conducted in Malaysia, Indonesia and
Philippines.
For continued acceleration of our top talents, the Transitioning Leaders to CEOs
(TLC) programme was introduced in 2010 to develop better visibility of junior to
mid-level talents for succession pool. In 2013, 72% of TLC graduates from pioneer
batches have taken on bigger roles, expanded their scope or moved to other
roles within the Group, a clear demonstration of the programme achieving its
objectives.
Our Chairman and Group EXCO are actively involved in leadership programmes to
share their insights and serve as role models to inspire our future leaders within
our Guru Principle. They conduct the Leaders Teaching Leaders programme,
where each Group EXCO engages with our leaders at our Maybank Great Leaders,
High Impact Leadership and Performance-Driven Leadership programmes. Our
Chairman and Group EXCO also engage with all level of staf in the conversations
series.
Another key leadership pipeline programme is the Top Team Efectiveness
Programme, a 24 month programme to strengthen personal and team
efectiveness. In 2013, 160 leaders comprising Group EXCO and their leadership
teams were involved in the programme.
Under the Maybank Great Managers and Maybank Great Leaders Programme,
510 managers beneftted in 2013 from both internal and external managerial and
leadership programmes.
We also have a dedicated in-house team of three full time certifed coaches
which is part of our focus on Mentoring and Coaching. In 2013, they conducted
over 150 coaching sessions for 51 leaders and 45 team engagement & leadership
programmes to 850 leaders. In addition to this, we have over 560 who are either
a mentor or a mentored staf through our diverse programmes and networks,
including our Women Mentor Women Programme.
NURTURING CULTURE & ENGAGEMENT LEVELS
Our core values, T.I.G.E.R. (Teamwork, Integrity, Growth, Excellence & Efciency,
Relationship Building) are our essential guiding principles for all our actions and a
key driver to engage Maybankers in delivering Maybanks humanising mission.
During the year, we continued to implement initiatives to align us as a diverse
Group with a common high performance culture where staf can excel, deliver on
our promises and achieve our desired outcomes.
The Group EXCO plays a key role in driving the Groups transformation, providing
clarity of our vision as well as reinforcing the right organisation climate and
culture. They use a variety of platforms, such as Townhalls and Conversation
Series Sessions to encourage exchange of ideas as well as spearhead Honest,
Open and Trusting (HOT) conversations with staf of all levels. The Ask Senior
Management Forum is a key avenue for staf to communicate directly with Group
EXCO. Each of the 150 enquires received in 2013 were responded and acted upon
and even, formed the basis for many improvements.
Following Group EXCO announcement in October 2013 on accelerating
the Groups transformation and regionalisation, the Group EXCO Regional
Transformation Roadshow was held in Singapore, Hong Kong, the Philippines
and Indonesia to amongst others, communicate and explain the revised Group
organisation structure and transformation direction. The roadshows will continue
at Sector and Country level townhall sessions in FY 2014, with Group EXCO
facilitating the sessions to provide leadership guidance and alignment to the
desired outcomes.
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Datuk Abdul Farid Alias, Group President and CEO at a unique EXCO First-Hand Day job shadowing initiative.
GROUP HUMAN
CAPITAL
The Group EXCO also undertook a unique EXCO First-Hand Day job shadowing
experience at various customer facing touch points to identify the challenges and
concerns of staf. Likewise, the We Are Here to Serve (WAHTS) initiative also gave
more than 300 supervisors an experience as a Customer Service Assistant (CSA)
at our branches. These initiatives contribute to improving engagement levels,
promote a customer centric culture amongst all Maybankers and provide an
avenue to discover new ideas for improvements in our service levels as feedback
are acted upon.
To further internalise the core values and transformation agenda, the My T.I.G.E.R.
Journey Video Photo Competition, a joint collaboration between GHC and Group
Strategy & Transformation Ofce, invited Maybankers group-wide to share
inspiring stories of their transformation journey with Maybank. A total of 249
entries were received, with Group EXCO participating to show how the values
have impacted their lives. The competition was a success as it reafrmed that
Maybankers have embraced our T.I.G.E.R values and transformation.
We have a variety of group-wide channels supplemented by local communications
to cater to the diverse needs of our staf, enabling us to efectively reach out
to them in a timely manner. During the year, we launched the MyPortal2u in
Malaysia, a refreshed communication portal that ofers greater fexibility and
empowerment to share information conveniently to the 27,000 staf in Malaysia.
Maybank Philippines also launched its staf portal to facilitate knowledge and
learning. Regional news is a mandatory key feature in all our communication
channels including our Group Newsletter, Berita Kumpulan Maybank (BKM).
STRENGTHENING PERFORMANCE MANAGEMENT
Maybank has strengthened its Performance Management (PM) system at various
stages of our transformation journey to ensure it is dynamic, tightly aligned, and
is agile in anticipating challenges and opportunities. GHC conducts clinics on
PM and closely monitors the quality and objectivity of Personal Development
Plans (PDP), Key Performance Indicators (KPI) and performance conversations,
to ensure the efectiveness of PM at all levels. In 2013, the clinics were completed
at eight CFS Regions in Malaysia and selected key sectors. The online PM system
also expanded to Maybank Kim Eng while the alignment of key PM components
was completed with BII.
In October 2013, the system was revised to adapt to the next phase of
transformation. The enhancements that factored in feedback from staf via
various channels and forums will be implemented in FY2014. The revision
simplifes the PM processes and procedures while ensuring more focused KPIs
to increase strategy alignment. It gives even greater staf ownership of their
success and deliverables, promotes stronger staf/line manager partnerships by
mandating and formalising performance conversations between staf and their
supervisors/line managers.
PERFORMANCE LINKED REWARDS STRATEGY
Our total rewards strategy has evolved as we transformed our business with
greater focus on providing the right remuneration, benefts, career development
and progression opportunities. We adopt a holistic approach in our compensation
structure that recognises staf through monetary and non-monetary rewards
such as fxed pay, short term variable bonus/incentives, long term incentive plan,
i.e. Employee Share Scheme and development opportunities. We advocate a Pay
for Performance culture, where high performance is duly rewarded. The variable
bonus paid based on Groups, business unit and individual performance reinforces
our meritocracy based rewards. Exemplary performance is also recognised
via platforms such as best employee/team awards, staf academic excellence
awards, and long service awards. In 2013, the Group ofered two new business
specifc incentive plans bringing a total of 16 such plans to recognise exceptional
performance. Maybank also paid an ex-gratia to the clerical and non-clerical staf,
on top of their contractual bonus and ofered its third Employee Share Scheme in
April 2013.
Today, our rewards management implementation has shifted from being HR-led to
Line Manager-led, empowering Line Managers in the total rewards management
decision making. This is refected in our PM system where meritocracy is applied
to all performance management process and rewards are strongly linked to
individual performance against goals aligned with the Sector and Group.
LEARNING & SKILL DEVELOPMENT
Maybanks long-term success hinges on providing its people with the right
development tools and knowledge to excel as well as compete efectively in a
multitude of environments.
We have a structured and integrated learning development framework of 70:20:10
(Experiential learning: Coaching, Mentoring & Networking: Formal learning)
development intervention ratio principle with emphasis on experiential learning
to help staf develop greater passion for self-driven learning. Introduced since
2010, involvement in regional and international projects for example, is a key
learning and development intervention provided to staf.
Sector Learning Management Councils (LMCs) chaired by Sector Heads
and facilitated by GHC ensures that business initiatives are supported by
appropriate training to close skill gaps, enhance relevant knowledge and
increase competencies. LMCs also govern the consistency and quality of learning
interventions.
Pn Nora Abd Manaf, Group Chief Human Capital Ofcer receiving the prestigious Towers Watson Global High
Performing Company 2012/2013 recognition.
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Maybank has aggressively transformed how the Group manages training and
development. Training days per employee Group-wide averaged at 4.5 days, above
the American Society for Training & Development (ASTD) global benchmark.
Considerable resources are invested in strengthening staf competencies in areas
that support the Groups development plans. Our total Group learning budget
utilisation for FY2013 was RM118.87 million, well above the statutory requirement.
Staf training expenditure for the Bank against total gross salary in 2013 was
2.78%, exceeding Bank Negara Malaysias minimum standard of 2.5%. This is also
above the ASTD global benchmark of 2.65%. In 2013, 295 e-learning courses with
14 new syllabuses were ofered with 139,077 enrolments.
Human Capital collaborates with business sectors to enhance service excellence
and promote innovation amongst staf. In 2013, partnership with Service Quality
delivered the We Are Here to Serve (WAHTS) Project, a service competency-based
learning intervention that standardises the Banks service training programmes.
Project Harry Potter was another efort to improve product knowledge to raise
sales. Current training materials are available via the MyCampus learning portal,
with assessments conducted to gauge stafs knowledge levels.
Maybank also ofers rewards programmes to upgrade the professional
qualifcations of staf. Under our Staf Education Assistance Scheme (SEAS)
which covers staf from the clerical category upwards, a total of RM828,945 was
disbursed in 2013 (an increase of 73% from 2012) to staf who are undertaking
their Bachelor or Master degrees, ACCA, CIMA or other professional certifcations
on a part-time basis. In 2013, the Bank awarded a total of RM134,000 to 76 staf
for their achievements under the Stafs Academic Awards.
In April, Maybank signed a Memorandum of Understanding (MoU) with the
Institute of Bankers Malaysia (IBBM) to enhance collaboration to increase
professional certifcation of staf. The MoU enables staf to enrol into world class
certifed professional courses ofered by the Institute, including, the Chartered
Banker Programme.
Through our signature Career Transition Programme (CTP), Maybank is one
of the few organisations with a structured programme that redeploys staf
who become redundant due to organisational changes and is testament of our
humanising philosophy. Staf in the CTP are ofered necessary re-skilling, training
interventions, counselling and guidance to provide them the agility to take on
new roles in the organisation confdently and quickly. In 2013, 275 staf were
enrolled, with 134 successfully re-deployed.
EMBRACING EQUAL OPPORTUNITIES, DIVERSITY
& INCLUSIVENESS
Maybank is committed to the positive promotion of equality, diversity and
inclusion in the organisation. We show the same respect, guided by the principle
of meritocracy and fairness, to anyone regardless of level, grade and age in
providing equal opportunities for recruitment, promotion, transfer or learning
development opportunities. In 2013, the new retirement age for staf at Maybank
Group Malaysia was raised from 55 years to 60 years, in line with Malaysias
Minimum Retirement Age Bill 2012.
Our gender diversity practice exceeds global benchmark. Women have equal
opportunities for professional and personal development as well as career
advancement. 31% of women are in top management roles, 7% more than the
global average of 24% in the 2013 Grant Thornton International Business Report.
In the last three years, we have doubled representation of women below 30 years
of age and less than 5 years service categories. Female representation in senior
management positions has also grown by 23% since 2007.
The formalisation of a Flexible Work Arrangement policy, widening of women
mentoring programmes and setting up of an emergency childcare centre were key
women/family agenda initiatives implemented in 2013.
Workforce demographics at a glance - % at the diferent levels, average age & tenure.
Total Staf: 47,771
Senior Management 2%
Middle Management 9%
Executive 55%
Non Executive 34%
Average age of workforce 36 years old
Average tenure 10 years
As at December 2013, male to female ratios in senior and middle management
were as follows:
Job Level
Gender Representation:
% Female
Gender Representation:
% Female (excluding
Maybank Kim Eng & BII
Finance)
Dec 2013 Dec 2012
Senior Management 31% 31%
Middle Management 42% 43%
Maybank received a joint commendation from ACCA-Talent Corp Malaysia for
Reporting on Gender Diversity at the ACCA Malaysia Sustainability Reporting
Awards (MaSRA) 2013.
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GROUP HUMAN
CAPITAL
IMPACTFUL EMPLOYEE VOLUNTEERISM
The sheer number of Maybankers involved in various Corporate Responsibility
(CR) initiatives yearly shows how deeply volunteerism is entrenched throughout
the Group. Maybankers spent over 119,000 volunteer hours, reinforcing our
humanising mission to communities that Maybank engages with globally. The
4th Global CR Day held on 28 September 2013 saw over 19,000 Maybankers
showcasing 105 sustainable CR initiatives which were initiated in 2012 under
the Cahaya Kasih Challenge (CKC) programme. Maybank Cambodia received the
Most Outstanding Social Performance Bank award, organised by IDG Asean for
its Child Sponsorship a Way Out of the Dump initiative that beneftted 400
underprivileged children who do not have access to proper education, basic
healthcare and the right nutrition.
During the year, Maybank launched its Regional Festive Campaign during the Hari
Raya Aidilftri with a common greeting and a CR initiative that mobilised over
1,000 Maybankers visiting 50 hospitals in Malaysia and Indonesia, distributing
goodies to over 14,000 healthcare providers working on the frst day of Hari Raya.
Maybank Group has always been in the forefront, responding quickly whether
in monetary, non-monetary or volunteerism to afected victims of natural
disasters either as a group or in partnership with the community. In November
and December, Maybank assisted victims afected by the Typhoon Haiyan in
the Philippines and the foods in several states in Malaysia. Maybankers Group-
wide also rallied towards afected staf of the disasters by donating a total of
RM267,465.50.
Maybankers are also active participants in many other events such as national
day celebrations, fund raising charities and religious celebrations amongst
others. Besides being brand ambassadors, they showcase their talents in event
competitions such as cheerleading, march past or corporate booths, winning
accolades and top places.
WORK-LIFE BALANCE AND FAMILY FRIENDLY
ORGANISATION
Alongside our competitive total rewards package, we constantly strive to provide
work-life balance to enhance productivity and improve staf retention. Creating a
safe and conducive working culture has always been the Bank's top priority and
this is manifested in the Occupational Safety & Health (OSH) Policy Statement
as the Bank pledges to promote OSH awareness amongst staf and other
stakeholders at work.
Various health and safety programmes were held nationwide such as Healthy
Lifestyle Mini Campaigns, Safe Commuting Programme, Positive Parenting
Workshops, Mind Therapy@Work Workshops and Ergonomics Workshops. To
ensure best practices, the Bank ties up with professional organisations and
specialist medical centres. The programmes are structured and interactive,
ranging from participants undergoing activities monitored by trained
professionals to dialogue sessions. These activities were enthusiastically attended
by more than 3,400 staf nationwide in 2013.
Maybank also invests considerable resources to encourage staf to participate in
sports. Our annual Maybank Sports Carnival and Indoor Games involve 22 sports
and is an important platform to promote team spirit and a sense of belonging
amongst staf across the globe. We also participated in the BII Bali Marathon and
The EdgeBursa Malaysia KL Rat Race 2013, with our runners emerging in top
positions in the various categories. The Maybanks Hockey team improved its league
standing as runners up, last achieving this rank in 1999, while the football team also
improved its standing in KLFA League from 6
th
in 2012 to 4th placing in 2013.
Maybank has formed First Aid Standby Teams (FAST) at its Head and Region
Ofces. 173 staf are FAST members who provide services at the Banks major
functions and to customers on our premises in the event of an emergency.
In 2013, we formalised a Flexible Work Arrangement (FWA) policy to provide clear
guidelines on fexibility at the workplace. The FWA empowers staf to manage
and optimise their working hours without afecting their business and personal
commitments.
Another major work-life balance initiative is the setting up of the Maybank
Tiger Cubs Childcare Centre (MT3C) located at Menara Maybank. MT3C can
accommodate 20 children at any one time, with 8 trained care providers
managing the centre. MT3C aligns Maybank with the national agenda to
encourage and promote women participation into the workforce.
In 2013, under the Maybank Financial Assistance to Stafs Children Entering
Institutions of Higher Learning and Boarding Schools, Maybank disbursed
RM147,000 to 189 children of staf earning a monthly income of RM4,000 and
below. The Back-to-school fnancial assistance scheme disbursed a total of
RM306,000 to 1,530 school going children of staf who earn a monthly income of
RM2,500 and below.
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GROUP
TECHNOLOGY
Our main focus is to support our businesses in achieving their
regional growth aspirations with optimised use of technology,
improved turnaround time of operations and service excellence
in a cost efcient manner. We need to provide diferentiated
capabilities through innovative solutions with agility and
speed to market.
GEOFF STECYK
Group Chief Technology Ofcer
GROUP TECHNOLOGY
Enterprise Transformation Services has been
restructured to align to the new Maybank Group
structure with the IT arm being transformed into
Group Technology, Operations as Group Operations
and Service Quality placed under Group PCEOs
ofce in the Group Strategic Marketing department.
Group Technology and Group Operations, which
function as two separate entities, serve three
common pillars (business, support and country),
whilst Service Quality is embedded within the
support pillar of Group PCEOs ofce.
The reorganisation provides dedicated focus on each
area Technology, Operations and Service Quality.
As such, Group Technology would be accountable
to maximise capacity and capability for all IT
investments and services across the Group including
countries, to support our growing regional business
in an efective and efcient manner.
GROUP TECHNOLOGYS ASPIRATIONS
Maybank quality and productivity enabling aligning and engaging the team in continuous
improvement to deliver superior service at competitive cost levels.
Industrialise and professionalise Maybank optimise operating model by standardisation of
processes and technology to achieve world-class IT engineering capabilities.
Digital self-service bank full self-service for our customers on multi-channel platform.
Improving productivity and efectiveness by driving service excellence to meet our customers
expectations.
Accelerate regional proftability by fast-tracking regional initiatives and harvesting investment
returns through our IT Transformation Programme.
Focusing on key projects that will create a stress-free banking experience for our customers and
deliver value for our shareholders.
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GROUP
TECHNOLOGY
MAYBANK SHARED SERVICES (MSS)
The formation of Maybank Shared Services in July 2013 refected our main focus
in 2013 to support our businesses, pushing Maybank Group to a higher level by
building regional Information Technology (IT) capabilities and solutions.
MSS is a wholly-owned subsidiary of Maybank with MSC status. In line with the
Governments Economic Transformation Programme to develop regional bank
champions, MSS is the vehicle for Maybank to:
Accelerate our technology maturity and capability to stay ahead of our
competitors;
Create value for our shareholders through tax benefts;
Build internal capabilities to reduce reliance on external parties; and
Provide business transparency in our technology investments.
Maybank Shared Services is a

As an IT shared services organisation, MSS has the ability to provide regional IT
services, standardise regional systems and avoid unnecessary overheads, helping
to accelerate the Banks IT transformation regionally.
Aligned with the Banks key strategic priorities, one of which is to Raise the
Tempo for Regionalisation, MSS has been the driver in rolling out projects of
various scales across the region including the IT Backsourcing initiative, Regional
Branch Solution, Regional Cash Management System, Regional TradeConnex and
Global ATMs.
IT Backsourcing Transition
The transition of various teams and services from our former third party
infrastructure service provider to MSS under the IT backsourcing initiative was
a smooth, seamless and successful exercise which began in July 2013 and was
completed on 13 October 2013. It involved the integration of 300 new members
into MSS. Maybank is the frst bank in Malaysia to execute such an exercise and it
has further strengthened our talent pool with relevant expertise.
The backsourcing exercise addressed the critical objectives below:
Quality standardised IT operational support and consistent IT processes
Cost overall development spend is used more efectively across the Group
Speed features and applications developed for one market can be rapidly
rolled out to other markets
Governance manage solutions from a single location, optimising the
support regionally
The backsourced IT infrastructure services that will enable the Bank to have end-
to-end control of IT services are as follows:
Enterprise Operation Centre
Distributed Computing Services
Network Services
Help Desk
One immediate efect of the transition is that the IT services help desk
for Maybank is now supported internally by MSS i.e. Maybankers serving
Maybankers. Maybankers in Malaysia and Singapore now use a common Maybank
help desk contact for all their IT needs. The focus is on delivering and improving
customer service for our internal and external customers.

Regional Branch Solution (RBS)
RBS was the frst IT transformation initiative to be kicked of under the
transformation agenda. RBSs objective is not only to provide improved and more
efcient customer service but to create a new and transformed branch experience
for our customers.
To improve and be more efcient, RBS ofers consistent customer service,
enhances processing efciency and efectiveness, builds a foundation for a
regional standardised teller platform and enables branch of the future. Customers
on the other hand will be delighted with the new and transformed branch
experience through paperless transactions, no home branch restrictions, efective
and efcient customer identifcation which reduces waiting time and counter
processing time.
RBS is replacing the existing teller platforms in Singapore and Malaysia. RBS
successfully went live for all branches in Singapore in early November 2013, whilst
nationwide deployment in Malaysia reached 485 sites by December 2013.
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Regional Cash Management System (RCMS)
Through the new RCMS, Maybank has distinguished itself from other banks
by becoming the frst bank in the world to have a corporate mobile banking
platform running on Windows 8 Phone, which provides convenience and mobility
to corporate clients. The system can also be accessed through multiple mobile
devices such as iOS (for iPhone and iPad), Android (phone and tablet), Blackberry
10 and mobile web.
Maybank is also the frst Malaysian bank to launch regional cash management
systems in ASEAN and Greater China and has a standard brand across the region,
providing consistent customer experience and diferentiating Maybank from other
local banks.
RCMS has allowed Maybank to transform its corporate customer service by
providing a consistent and robust electronic channel across one region running
on a single platform. Its seamless service delivery, which is easy to use, and
comprehensive real-time platform ofers customers better control of liquidity.
RCMS is also a multi-lingual system which supports fve diferent languages
English, Bahasa Malaysia, Bahasa Indonesia, Japanese and in both, simplifed
Chinese and traditional Chinese.
After the successful rollout in Singapore and Malaysia in 2012, RCMS was rolled
out to the Philippines, Greater China and Indonesia in March, June and November
2013, respectively. This subsequent implementation adopts the Rapid Drop
approach to reach businesses regionally, which takes a shorter duration as the
standard capabilities are dropped to other countries with lessons learnt applied.
Regional TradeConnex
TradeConnex provides a single, standardised trade processing platform across
the region and continues its regional deployment to other countries after its
successful roll out to several countries including Singapore, the Philippines,
Cambodia and Indonesia in 2012. In 2013, TradeConnex was launched in Beijing
(in June), Laos (in July) and Papua New Guinea (in November). As a web-enabled
solution, it ofers accessibility, mobility and convenience for clients on the
move. With an array of features such as market updates, e-applications and
correspondences with our Trade Information Centre, we ensure our customers
obtain frst-hand information pertinent to their international trade.
Another milestone was achieved on 1 December 2013 with the completion of the
integration between Regional TradeConnex and Maybank Singapore's Finance of
International Trade Automated System (FITAS) trade fnance back ofce system
for straight through processing. This demonstrates the Groups capability to
deliver regional solution. The successful collaboration opens up inroads for the
Regional TradeConnex Head Ofce Project Team to undertake the Regional
TradeConnex integration of the trade fnance back ofce systems for other sites in
2014.
Global ATM
The Bank continues to expand its global ATM network with the opening of our
ATMs in Vietnam (in February), Laos (in April) and London (in August), bringing
the total to six global ATMs (in Cambodia, Papua New Guinea and Brunei). Our
ATMs will provide our customers with convenient and secure access to their cash
and better banking experiences when they travel overseas.
For more on our industry recognition, refer to page 63.
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GROUP
OPERATIONS
The revised Group structure in 2014 and the establishment of Group
Operations as a dedicated sector is a strategy to accelerate the Groups
transformation journey. Group Operations will focus on all operational
activities and institute operational excellence across the Group.
The emphasis will be to streamline our operations across the region
with an objective to improve our customers experience and the Groups
proftability.
JEROME HON
Group Chief Operations Ofcer
GROUP OPERATIONS STRATEGY
Transformation initiatives planned for 2014 include centralisation, regionalisation
and streamlining of processes and structure to ensure that the ultimate outcome
leads to greater productivity and cost efciency. This will involve the main
banking operation activities, which include the Payments & Self Service Terminals
(Payment & SST), Trade Operation Centre (TOC), Credit Administration (CA) and
Treasury Operations.
Operational excellence and LEAN initiatives will be adopted with a view to
ensure that processes and outcomes are efcient and productive. In addition to
enhancing productivity and supporting the Groups strategic cost optimisation
plans through these initiatives, we will also focus on reinforcing the risk culture
across Group Operations.
2013 OPERATIONS REVIEW
Prior to 2014, Operations was housed under Enterprise Transformation Services
(ETS) comprising fve main units - CA, payment and SST, TOC, Management
Support and Project Management Ofce (MS-PMO) and Group Collateral
Management System (GCMS).
The capability of Credit Administration Centre (CAC) has been expanded for
Operations by taking over some existing activities from branches. The major
task, which was moved from branches to CACs, is the management and handling
of physical security envelopes that allow branches to focus on customer sales
and services. To-date, one million security envelopes have been migrated to the
respective regional centres.
Maybank is the leading bank in developing an online communication system
with legal frms. Real time status for documentation is available and we are
able to track the performance of lawyers/solicitors while driving for early
completion. Recently, we have also enhanced the system to begin communication
with another major stakeholder, i.e. property developers. Developers will now
have a view on the status of their documentation and dates and amount of
disbursements made. Presently, there are about 9,000 users and over 350,000
documentation cases handled by the system since its implementation in 2004.
In 2013, Trade Operation Centre took a huge step towards becoming a Centre of
Excellence which champions best practices and acts as the reference point for any
trade related issues, by embarking on these two main initiatives:
1. Insource of Trade Processing Activities from Overseas Units at TOC
Centralising trade processing activities at TOC has created standardisation
of processes currently performed at countries. This also has enabled best
practices and knowledge sharing across the countries in making TOC
regionalisation-ready to support Global Bankings regional activities.
2. Centralisation of Export Documents Checking Activities at TOC
This activity was previously performed by our outsourcers due to the lack
of expertise within the Bank. By bringing back Export Documents Checking
activities to TOC, Trade Finance Centres (TFCs) now have a standardised
process. This has also enhanced our customers experience by reducing the
turn-around time at TFCs and providing customer prioritisation. As a major
player in Trade Financing in the country, Maybank now has its own Certifed
Documents Checking team.
Centralisation, regionalisation and streamlining of processes and
structure across all main banking operation activities.
Adopting operational excellence and LEAN initiatives.
Reinforcing the risk culture across Group Operations.
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The various eforts made by the Operations team such as the expansion of its
capability, enhancements of its customer experience, streamlining of its processes
and centralisation of system to serve as a single source of truth paid of when
several awards were received in 2013 from the Nostro agents.
Group Collateral Management System (GCMS) is a centralised collateral
management system, which provides the framework for efcient management
of collateral information and meets specifc operational and monitoring
requirements under Basel II towards optimising Risk Weighted Assets. It also
serves as single source of collateral data for Management Information System,
regulatory reporting, compliance and business analytics. GCMS facilitates
revaluation of specifc eligible collaterals for the use as credit risk mitigation.
Payment Support and ATM SST are now merged into one unit, enabling
streamlined reporting and LEAN operations, thus, we are now able to support
business growth. We have also consolidated the Inward Cheque Clearing unit with
the Outward Cheque Clearing unit into a One-Stop Centre for handling cheque
processing, in line with BNMs requirements to standardise practices. This has
tremendously improved productivity and efciency of the team.
1 solution, 4,520 SSTs across
Malaysia and 6 countries
365-day
Global Monitoring
London
1
Vietnam
1
Brunei
4
PNG
3
Cambodia
17
Malaysia
4,492
Laos
2
China
Laos
India
Indonesia
Singapore
Brunei
Philippines
Vietnam
Thailand
Myanmar
Cambodia
Papua New Guinea
Saudi Arabia
Bahrain
Uzbekistan
Pakistan
London
Malaysia
We have also enabled seamless, real time monitoring on a centralised web
platform across 4,520 self-service terminals in Malaysia and six countries by
implementing the Global ATM eSST Monitoring Solution. Capabilities and
benefts derived from this project were:
System
Web enabled and real time data of SST availability
Scalable to support countries
Accessibility extended to service providers and machine vendors
Dashboard capability and snapshot of the overall SST performance
Process
Straight-Through-Processing (STP) via automated escalation to service
providers/machine vendor
First time resolution for SST faults and errors are made available
Reduced downtime with capability to remotely bring up the SST for
selective faults
Business Intelligence
Drill down error capability to identify where preventive measures are
required
Automated reporting and analytics are available
Real time transaction volume capability to manage peak periods and
manpower requirements
For our awards, please refer to page 63.
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WITH THE
DEDICATION OF
OUR PEOPLE, WE
ARE EMPOWERING
COMMUNITIES
ACROSS ASIA.
119
,
000
TOTAL VOLUNTEER HOURS
COMMUNITY ENVIRONMENT WORKPLACE MARKETPLACE
COMMUNITY
CORPORATE
RESPONSIBILITY
the New Economic Model must include a commitment
to Sustainability, not only in our economic activities but in
considering the impact of economic development on our
environment and precious natural resources. There is little
value in pursuing a future based entirely on wealth creation
HIS EXCELLENCY DATO SRI HAJI MOHAMMAD NAJIB BIN TUN HAJI ABDUL RAZAK,
Prime Minister of Malaysia
As the fnance sector plays a major role in fuelling economic growth both
nationally and regionally, there is an ever-increasing need to address the issue of
sustainability. As our Prime Minister has emphasised, an integrated approach to
sustainability, which considers the economic, environmental and social footprint
of policies and practices, has become a matter of vital importance.
Sustainability has been fundamental to Maybank ever since our foundation
whether in our business performance, our products and services or our
engagement with our stakeholders. Similarly, corporate responsibility (CR) is
integral to the way we do business. For more than 50 years, we have practised
Putting People First be they our customers, investors, staf, partners or
communities.
From the outset, we have regarded good corporate citizenship as essential to
our growth trajectory. Today as a leading fnancial services group in Asia we
recognise that it is for us to assume a leadership role as a responsible
corporate citizen.
This conviction has found its embodiment in our mission to humanise fnancial
services across Asia.
Our Sustainability Report 2013
As we expand across ASEAN, our commitment to practising transparency
and accountability increases. Our 2013 Sustainability Report refects
our promise to publicise not just to our shareholders but to all our
stakeholders our pledge to be responsible and sustainable in our
business. This year, our focus is on building regional linkages and aligning
our Corporate Sustainability eforts toward Maybanks humanising
mission. This years report is also aligned to the new standards set by the
Global Reporting Initiative (GRI), GRI4.
Tan Sri Dato' Megat Zaharuddin, Chairman of Maybank Foundation, engaging with a beneficiary of Bank Internasional Indonesia's (BII) microfinancing programme .
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COMMUNITY
The Bank with a Heart
Maybank has a long history of being at the heart of the community. Right
from the start, we aimed to be a bank for all Malaysians, and Maybank
branches have become a nucleus of many small towns throughout the
country. In line with our humanising mission, we are now extending this
community-based approach across the region.
In 2013, we made signifcant impact investments across Southeast Asia initiatives aimed not just at boosting access to fnancial services for every level of society,
but at promoting genuine and enduring transformation.
Coordinated mainly by the Maybank Foundation, our community work targets a diverse group of benefciaries as we attempt to set a new standard for CR
activities that goes beyond pure philanthropy to deliver meaningful programmes with lasting outcomes. Our social investments embrace education, community
empowerment, sports, health, arts, culture and heritage; and it is a principle of the Foundation that many of our programmes should be driven by
employee volunteerism.
EDUCATION
Promoting Excellence
We are deeply committed to supporting social and economic development
through education, especially for academically excellent students from lower
income families. Our scholarship programmes are intended to attract the regions
best talents and provide them the opportunities to reach their full, long-term
potential. Our school adoption programme aims to enhance access to education,
especially among rural communities. We also collaborate with selected partners
on educational programmes that equip young children with important life skills
such as fnancial literacy.
Maybank Foundation Scholarships
In 2013, the Maybank Foundation allocated RM30 million to fund scholarships
that cover tuition fees, living allowances, laptops and training. We also run
development programmes such as internship and mentorship to prepare scholars
for a rewarding career with the Maybank Group.
Maybank BII Scholarships
In November 2012, Bank Internasional Indonesia (BII) launched a local and
overseas scholarship award programme. In 2013, over 8,400 students from
all over Indonesia applied for local scholarships, and 28 received awards.
Meanwhile, 300 students applied for overseas scholarships, and fve have now
been granted awards to study in Malaysia and Singapore.
Promote Education Excellence in Rural Schools (PEERS)
We work closely with selected partners to deliver educational programmes
to the 16 rural schools we have adopted under the PEERS programme. One
key partner is the British Council, with which we have developed a three-year
programme to help English teachers keep the curriculum fresh, exciting and
relevant. To date, we have benefted more than 4,800 students and
360 teachers.
Tan Sri Dato' Megat Zaharuddin and Puan Nora Abd Manaf, Group Chief Human Capital Officer congratulating recipients of the Maybank Scholarship Award 2013.
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COMMUNITY EMPOWERMENT
Stimulating Development
Employee Volunteerism
Our humanising mission is something that our people have very much taken to
heart. In 2013 alone, more than 23,000 Maybankers donated over 119,000 hours
of their own time to take part in voluntary community programmes.
Through our annual fagship Cahaya Kasih (Ray of Love) programme, we structure,
monitor and evaluate the impact of all employee volunteerism. Initiated in 2006,
Cahaya Kasih challenges Maybankers all over the globe to come up with projects
that will deliver long-term benefts for their chosen community. In 2013, we
received over 100 project proposals. Each proposal was given an initial grant to
kick-start the project. The Top 20 Projects that best demonstrated sustainability
of efort and impact then received an additional RM20,000 to further beneft
the benefciaries.
Initiatives were implemented in 16 countries throughout the year, and at the
end of the challenge, each project was judged on the sustainable impact it had
made. The best implemented projects in each category were given extra funds
to further develop the project. For a full list of all the projects, visit www.
maybankfoundation.com.
Meanwhile, since 2010, we have been using our Global Corporate Responsibility
(CR) Day to showcase our peoples initiatives. The causes our people targeted
in 2013 ranged from community empowerment, education and sports to
environmental, health and medical initiatives. We estimate that last year more
than 800,000 people benefted from our employee volunteerism programmes.
To encourage volunteerism, Maybank gives employees three days unrecorded
leave each year.
CashVille Kidz
In 2013, we launched CashVille Kidz Season 2, an animated TV series, co-produced
by the Maybank Foundation and MoneyTree (M) Sdn Bhd. The programme
educates students about the importance of sound money management and
focuses on fnancial lessons that range from the importance of saving money to
developing positive spending habits and making smart investments. The pilot
CashVille Kidz series reached over 1.5 million viewers more than ten times
its initial target. We also expanded the initiative to include a Financial Literacy
Challenge that tests primary school students on their fnancial planning skills.
Despite being fresh on the market, it has already received recognition as joint
winner of the Efma-Accenture Innovation Awards 2013 under the category
Responsible Business. The award was participated by over 150 banks from 54
countries. Season 2 is set to begin in mid-2014.
Youth Empowerment Programmes
With Heartware Network and the Singapore Ministry of Education, in 2012
Maybank Singapore launched the Heartware Character & Citizenship Education
(CCE) Leadership Programme and a Tuition Programme. Due to Singapores
competitive education system, students from low-income backgrounds face
a disadvantage in terms of access to additional education support. The CCE
Leadership and Tuition Programmes aim to address this disparity by ofering
free tutoring and peer mentoring. In 2013, almost 250 students and youth
volunteers have benefted from these initiatives. We plan to continue supporting
programmes that help communities grow in a sustained manner.
Maybank Village
Light of Hope
In 2013, a group of Maybankers launched a project to enhance the lives
of the people of Carey Island, Selangor, Malaysia. The project addressed
a formidable range of issues: poverty, low educational awareness, lack of
basic hygiene and healthcare, drug and alcohol addiction, abandonment
of the elderly, the high number of single parents, and the lack of resources
and extracurricular youth activities.
Visiting around 100 families, Maybank volunteers fst took time to engage
with the community and gain acceptance and trust. They also partnered
with various organisations that were keen to support the initiative.
With these partners, they ran talks and classes on topics ranging from
education and employment to basic hygiene, free medical check-ups and
drug prevention.
The outcomes included an enhanced awareness of the importance of
healthcare and increased interest in childrens education which was
further encouraged by new resources such as a library and a computer
area for youngsters.
In these ways, the initiative helped to empower the community to take
responsibility for its own social and economic progress.
CORPORATE
RESPONSIBILITY
Students posing with CashVille Kidz characters, Penny, Suzy, Sens and Barry.
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Philippines has also initiated capacity-building programmes to help families within
the community obtain better job opportunities and regain their livelihood.
In early December, Malaysias east coast was hit by seasonal foods brought on by
torrential rain. Tens of thousands of people were forced to evacuate their homes
and power and water supplies were cut of in most areas. Maybank contributed
RM110,000 to purchase food and relief supplies for over 1,000 afected families.
HEALTHY LIVING
Nurturing Wellness
Our longstanding support for access to healthcare and ftness is a fundamental
aspect of our humanising mission.
Liver Transplant Centre, Hospital Selayang
In 2002, Maybank entered into partnership with Hospital Selayang to help
establish and run its Liver Transplant Centre (LTC). The LTC provides afordable
liver transplants for those unable to bear the charges levied by private hospitals.
With our support, medical costs are subsidised for underprivileged patients,
and to date LTC has conducted 60 transplants. Maybank has contributed RM6.2
million thus far, not only to support the centres operations but also their medical
endowment fund for patients-in-need. This amount is inclusive of funds raised
through charity programmes held in conjunction with our annual Maybank
Malaysia Open (MMO) sporting events.
Institut Jantung Negara
To promote access to healthcare, Maybank Islamic has made a fve-year
commitment via the Maybank Foundation to contribute RM1.7 million to Institut
Jantung Negaras new Regional Paediatric Heart centre. This contribution not only
provides support in terms of much-needed medical equipment but also assists in
subsidising medical expenses for patients from low-income backgrounds. Since
2012, this collaboration has helped 30 children from around the region.
Sport
Sport promotes health, develops talent, and spurs competitiveness. We not only
actively encourage employees to take part in sport, we also sponsor several major
sporting events.
Together with the Badminton Association of Malaysia, we organise training and
tournaments for young badminton players, enabling national players to inspire
and share their expertise with the new generation.
Through the Maybank Malaysian Open Golf tournament, we help foster talented
young golfers. In 2013, the tournament also raised RM10,000 in public donations
for Tabung Wira Lahad Datu Media Prima, which was topped of by RM200,000
from the Maybank Foundation. This donation came about from the Lahad Datu
standof in February 2013, which led to the loss of military personnel who died
defending Malaysian borders.
Meanwhile, the Star Experience for Charity golf game saw eight amateur golfers
each pledge RM5,000 to Make-A-Wish Malaysia a foundation that helps make
dreams come true for children with life-threatening medical conditions. The game
collected RM40,000 from the golfers, which was matched by another RM40,000
from the Maybank Foundation.
Microfnancing
Through one of our Corporate Responsibility (CR) programmes BII Berbagi,
our subsidiary Bank Internasional Indonesia (BII) operates microfnancing
programmes dedicated to alleviating poverty by helping disadvantaged
Indonesian women especially in rural areas to boost their living standards by
their own entrepreneurship.
Back in 2012, BII collaborated with Koperasi Mitra Dhuafa (KOMIDA), an
Indonesian microfnance institution (MFI) to provide Rp 1 billion (approximately
RM300,000) revolving funds to underprivileged women at a low interest rate.
In 2013, BII expanded their eforts by launching two additional microfnancing
programmes with Baitul Maal wat Tamwil (BMT) and Asosiasi Perempuan
Usaha Kecil (ASPUK). Each programme has a revolving fund of Rp1 billion
(approximately RM300,000). BMT focuses more on microenterprises while
ASPUK specifcally targets women microbusiness owners. Through BMT, BII has
provided microfnancing to more than 200 microenterprises across six provinces.
The collaboration with ASPUK was recently launched in December 2013. ASPUK
operates through 29 cooperatives and reaches women in Sulawese, Sumatra,
Kalimantan, Nusa Tenggara Barat, Nusa Tenggara Timur and Jawa.
Since 2012, our BII Berbagi microfnancing initiatives have impacted over
5,000 women.
Disaster Relief
In 2013, the Group and the Maybank Foundation contributed RM1 million to the
Philippines National Red Cross to assist victims of Typhoon Haiyan, which ravaged
the central part of the Philippines in November, leaving a trail of destruction in its
wake. Last year also witnessed the completion of a Maybank Community Centre to
Xavier Ecoville Resettlement Community home to 573 families that fell victim to
Typhoon Sendong (Washi) in 2011. Funded by Maybank Philippines, the Community
Centre is used by the families for community activities. In addition, Maybank
Datuk Abdul Farid Alias, President & CEO, helping a young boy prepare for the "Charity Walk for the
Blind" Cahaya Kasih event.
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CORPORATE
RESPONSIBILITY
ARTS, CULTURE & HERITAGE
Nukilan Jiwaku
Over the last ten years, we have helped more than 300 artists, photographers,
writers and graphic designers by sponsoring events that celebrate Southeast
Asia's diverse and vibrant cultures.
In 2013, one such event was the Nukilan Jiwa Art Exhibition held at Balai Seni
Maybank, Kuala Lumpur, which showcased the artistic talents of 24 disabled
artists. Nukilan Jiwaku gives people with disabilities the chance to express their
creativity, as well as help them to become economically self-sufcient.
Maybank Photography Award
The Maybank Photography Awards (MPA) was established on the belief that
images speak to us in a way that transcend language, socioeconomic and cultural
barriers. In 2012, we received 20,000 submissions a number which more
than tripled to 67,000 in 2013. Themed Inspiring Asia the awards attracted
participants from nine of the ten ASEAS nations. Submissions were assessed by
renowned judges such as Ming Thein, Raghu Rai and Mike Yamashita, and the
winners were from four diferent countries.
ENVIRONMENT
Going Green
In line with our mission to humanise
fnancial services across Asia,
Maybank constantly looks to provide
fnancing for businesses whose
environmental impact is positive and
sustainable.
We also promote good and durable environmental practices across our
own operational activities, seeking both to minimise our direct and indirect
environmental impacts and to manage materials and waste responsibly.
Since 2011, we have been participating in the Carbon Disclosure Project, a global
system for companies and cities to measure, disclose, manage and share vital
environmental information. For our frst submission, we scored 37 out of 100, in
2012 we scored 58, and by 2013 had increased our score to 67.
Meanwhile, in support of a greener earth, through the Maybank Foundation
we run a range of awareness activities and biodiversity programmes. We also
collaborate with wildlife and nature conservation organisations to fnd ways to
protect our irreplaceable natural heritage.
Maybank has been involved in tiger conservation for more than three decades
now. Since 2010, Maybank has contributed close to RM1.5 million to fund
scientifc research, social outreach programmes and enhancement of wildlife
corridors at critical linkage area between Malaysias two main tiger reserves
Taman Negara and the Main Range. The corridors are especially important, not
just for tigers but other wildlife populations as well, as they enable migration
between two ecosystems.
In 2013, we further strengthened our support through a contribution to the
Malaysian Zoological Society. Besides this, we organised a special Tiger Zoo
Camp where over 100 students were invited to spend two days at the zoo, playing
and learning about the importance of caring for animals and conserving the
environment.
We also supported the frst-ever Malaysian Wild Tiger Run. Organised by the
Malaysian Conservation Association for Tigers (MYCAT), the run aimed to boost
awareness of the plight of the Malayan tiger and to raise funds for conservation
eforts. Over 2,000 people took part in the run, which raised RM55,000.
In addition, for the third year running, Maybank supported the Kuala Lumpur Eco
Film Festival (KLEFF).This annual festival uses an edutainment platform to spread
the message of sustainable living through flms, community workshops, forums,
talks and activities. More than 6,400 people participated in the event.
In conjunction with Earth Day 2013, over 100 Maybankers and their family
members joined the Aveda Walk for Water campaign held last April at Publika
Mall, Kuala Lumpur. Aimed at raising awareness on water-related issues, the walk
was held in support of local NGOs EcoKnights and Blue Lifes Project H20 (Help
to Ofer Safe Drinking Water to Mantanani). The 2.5 km walk symbolised the
distance some people have to travel to reach safe water supplies. The proceeds of
over RM25,000 were used to install a fltration system that will provide the Pulau
Mantanani community with a long-term source of clean water.
WORKPLACE
Providing Opportunity
For information about Maybank's CR policies and initiatives for the workplace,
refer to Group Human Capital section on page 110.
Maybankers planting mangrove trees as part of an ongoing environmental conservation programme
under Region Penang/ Kedah/ Perlis (PKP).
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MARKETPLACE
Humanising Financial Services across Asia
Our commitment to humanising
fnancial services across Asia is based
on four key principles: providing
people with access to funding;
ofering fair terms and pricing;
advising customers based on their
needs; and being at the heart of the
community.
With 399 branches and 2,777 self-service terminals, we have the most extensive
fnancial network in Malaysia. We now have 422 branches in Indonesia and
79 branches in the Philippines (all disabled-friendly). In increasing access to
fnance, we provide mobile banking in remote areas and in 2013, we continued
our strategic partnership with POS Malaysia whose network of 348 post ofces
nationwide helps us to reach most rural communities. Meanwhile, with the launch
of Malaysias frst card-less cash withdrawal service, we are also reaching out to
the un-banked.
During the year, we continued to transform our branches. As well as opening
new branches at strategic locations, in each region we set up mega branches that
provide our customers with of-bank kiosks.
In 2013, we opened 44 MaybankOne kiosks nationwide. MaybankOne provides
a wide range of fnancial products to various segments of the market, especially
those on low incomes. It is also proving an efective tool in helping the lower paid
to understand fnancial products. We also continued to roll out business lines
to our overseas markets, including both Islamic Banking and Regional Wealth
Management in Singapore; and Global Markets and Regional Cash Management
in Singapore and Indonesia.
Meanwhile, our digital presence also continues to expand. We have by far the
nations largest internet banking presence, with a 50% market share and over 2.1
million active users. We are likewise the frst bank to introduce comprehensive
mobile banking services our 1.68 million users equating to a market share of
80%. We have also been leveraging on the popularity of online buying with the
launch Maybank2u Pay, which enables small businesses to make
transactions online.
As we grow regionally, our digital presence will be key to providing access to
fnancial services across the community. Across ASEAN, we are now enabling
high-value cross-border business in such areas as virtual banking, wealth
management and cards. We have set up a framework to capitalise on our regional
synergies, and there is an increased sharing of best practices and collaboration on
common initiatives.
In a world where constant connectivity becomes an increasingly integral part of
our lives, geographical boundaries are increasingly losing its signifcance. It is
easier than ever to get word out, and to get feedback. Maybank has a fast-growing
Facebook fan-base of 1.07 million as of December 2013. In 2013, we were named
the No. 1 Socially Devoted Facebook Brand in Malaysia across all industries, and
one of the Top 5 amongst fnancial institutions worldwide having not only the
fastest response time but also highest response rate. We see the social media
platform as a powerful tool to engage with our growing communities, allowing us
to continuously strengthen our regional ties.
Last year, we were one of ten global banks (and the only participating bank in
Malaysia) to be listed on the Dow Jones Sustainability Index Emerging Market
Index. For 2013, we received a DJSI score of 69, up nine points on our 2012 result.
The DJSI is the longest-running global sustainability index and a key reference
point in sustainability investing for investors and companies alike.
NEXT STEPS
Pushing the Agenda
In 2013, we started work on two
key tools to propel our humanising
mission and push the sustainability
agenda: a Corporate Responsibility
Roadmap and a fve-year
Sustainability Plan.
CR Roadmap
In 2013, we intensifed our community engagement by embarking on a CR
Roadmap that will help us to achieve sustainable value creation in all that we do.
Specifcally, the CR Roadmap will aim to deliver:
Flagship programmes that are regionally signifcant yet locally relevant
Increased community initiatives in key regional markets
Progressive, sustainable and tangible outcomes
Sustainability Plan
By the end of 2014, we aim to have completed the design of a fve-year
Sustainability Plan. This will map out a clear approach to sustainability which will
not only transform how we relate to our stakeholders but guide us in developing
products and services that are economically, socially and environmentally viable.
The plan will specify key commitments and targets that will boost momentum and
ensure that sustainability is relevant and impactful.
For more information on Maybanks corporate responsibility and corporate
sustainability eforts, please refer to our Sustainability Report 2013.
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INVESTOR
RELATIONS
In seeking to maintain our credibility over our public reporting and investor
relations activities, we continue to be consistent, transparent and regular in
providing updates and reports on our operations and performance.
We remain committed to keeping the market informed of relevant Group information, enabling both existing and potential shareholders to evaluate our business,
performance and prospects. In 2013, the Groups Investor Relations Programme engaged actively with the investment community and fnancial markets, as we took on
more in-house meetings, roadshows and conferences. We also continued with the Maybank Investor Days, which provided opportunities for investors to obtain more
information on business sectors and engage with key leaders. For 2013, the three investor days covered Maybank Islamic, Bank Internasional Indonesia and Community
Financial Services. Our strong commitment to communicate with the investment community not only enhances investors understanding of the Group, but we also aim
to use our platform to obtain important feedback from investors and to ensure we keep abreast with shareholder expectations from the Maybank Group.
Key Events Date
Results Announcement
Fourth Quarter FY2012 21 February 2013
First Quarter FY2013 23 May 2013
Second Quarter FY2013 21 August 2013
Third Quarter FY2013 21 November 2013
Other Events
53
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Annual General Meeting for FY2012 28 March 2013
ANALYST BRIEFINGS
In keeping with the Groups standard practice, senior management
conducted media and analyst briefings for the Groups half year and full
year results, with conference call facilities available for foreign participants.
Conference calls with investors were held in conjunction with the release
of the Groups first and third quarters results. The results announcements,
presentations and other relevant documents were made available on the
corporate website.
HIGHLIGHTS
Participated in more roadshows and conferences and conducted
Investor Days to enhance engagement with investors.
Improved industry recognition with awards from Malaysian Investor
Relations Association, Alpha Southeast Asia and NACRA.
Maintained share register analysis to better understand our
shareholders.
Analysts coverage refected more positive recommendations and higher
average target price.
2013 2012 2011
Results Announcement: Analyst briefng 2 2 2
Results Announcement: Teleconference 4 4 2
Number of companies met (in-house meetings and roadshows) 267 251 238
Number of analysts/ fund managers met (in-house meetings and roadshows) 397 332 325
Investor Day 3 3 -
Investor conferences & Non-deal roadshows 9 5 6
Note: Investor Day was an initiative only introduced in 2012
ANALYST RECOMMENDATIONS
We received 16 Buy calls compared to 15 in 2012 and Maybanks average target price was raised from RM9.62 to RM10.75, an increase of 11.7%.
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The Group met with 397 analysts and fund managers from 267 companies, up 19.6% and 6.4% respectively from the previous year owing to a signifcant rise in interest
from the investment community.
ROADSHOWS, CONFERENCES AND INVESTOR DAYS
We actively participated in local and international conferences and roadshows to provide our investors and potential investors with greater insight into the Groups
performance, developments, and strategy for 2013 as well as to shed insight into our direction for 2014. Some of the events in 2013 included:
Venue Event Date Organiser
Kuala Lumpur Investor Day: Maybank Islamic 19 March 2013 Maybank IR
Hong Kong Maybank Hong Kong NDR 11-12 April 2013 Maybank Kim Eng
Kuala Lumpur RHB Corp Day 25 April 2013 RHB
Indonesia Investor Day: Bank Internasional Indonesia 3 June 2013 Maybank IR
Singapore Citi ASEAN Conference 6-7 June 2013 Citi
Kuala Lumpur Invest Malaysia Kuala Lumpur 2013 13-14 June 2013 Maybank Kim Eng/ Bursa Malaysia
Kuala Lumpur Macquarie Asian Financials Tour 18 June 2013 Macquarie
USA Maybank Kim Eng ASEAN Conference 8-12 July 2013 Maybank Kim Eng
Singapore UBS ASEAN Conference 17-18 September 2013 UBS
Hong Kong 20
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CLSA Investor Forum 2013 23-27 September 2013 CLSA
USA Invest Malaysia US 2013 4-8 November 2013 Maybank Kim Eng/ Bursa Malaysia
Kuala Lumpur Investor Day: Community Financial Services 28 November 2013 Maybank IR
397
NUMBER OF ANALYSTS/ FUND
MANAGERS MET (IN-HOUSE
MEETINGS AND ROADSHOWS)
2011
332
2012
325
2013
267
NUMBER OF COMPANIES MET
(IN-HOUSE MEETINGS AND
ROADSHOWS)
2011
251
2012
238
2013
9
INVESTOR CONFERENCES &
NON-DEAL ROADSHOWS
2011
5
2012 2013
6
AGM/EGM
Our 53
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Annual General
Meeting was held on 28
March 2013.
WEBSITE
The Maybank corporate
website at www.maybank.com
continued to draw interests
and queries from both local and
foreign visitors. The Investor
Relations department ensured
that the Investor Relations
section of the corporate
website was up-to-date with the
latest Group disclosures.
CREDIT RATING
To provide stakeholders and the public with an independent
view of the Group in line with our policy, we continued to
maintain credit ratings with fve rating agencies: RAM Ratings,
Malaysian Rating Corporate (MARC), Standard and Poors
(S&P), Fitch Ratings and Moodys Investors Services. For our
full rating, refer to page 44 of Maybank Share.
SHARE REGISTER ANALYSIS
Two share register analysis were
conducted in 2013 to allow for
better understanding of the Groups
shareholders and facilitate the
planning of investor programmes.
The share register analysis provided a
breakdown of shareholders by profle,
amount of shareholding, investment
style and geographical location. For
our shareholding analysis, refer to
page 174.
No. Equity Research Coverage
1 Afn Securities
2 Alliance Research
3 AmResearch
4 BOA Merrill Lynch
5 CIMB
6 Citigroup
7 CLSA Asia Pacifc
8 Credit Suisse
9 Goldman Sachs
10 Hong Leong Investment Bank
11 HSBC
12 HwangDBS Vickers
13 JP Morgan
14 KAF Seagroatt & Campbell
15 Kenanga Investment Bank
16 Macquarie
17 MIDF Research
18 Morgan Stanley
19 Nomura Securities
20 RHB Research Institute
21 Standard and Poors
22 Standard Chartered
23 TA Securities
24 UBS Securities
25 UOB Kay Hian
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ANALYST
COVERAGE
As at December 2013, Maybank
was covered by 25 research
houses, refecting strong interest
by local and foreign sell-side
equity research houses.
WITH TALENTED
INDIVIDUALS IN
MAYBANK, WE ARE
ABLE TO NURTURE
THE POTENTIAL THAT
EXISTS WITHIN YOU.
47
,
000
MAYBANKERS
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from left to right:
Datuk Mohaiyani Shamsudin, Dato Johan Arifn, Zainal Abidin Jamal, Dato Seri Ismail Shahudin, Dato Mohd Salleh Hj Harun,
Tan Sri Dato Megat Zaharuddin Megat Mohd Nor
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Datuk Abdul Farid Alias, Tan Sri Datuk Dr Hadenan A. Jalil, Dato Dr Tan Tat Wai, Cheah Teik Seng, Erry Riyana Hardjapamekas, Mohd Nazlan
Mohd Ghazali (Group General Counsel & Company Secretary)
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TAN SRI DATO MEGAT ZAHARUDDIN MEGAT MOHD NOR
NON-INDEPENDENT NON-EXECUTIVE DIRECTOR
(Chairman)
65 years of age Malaysian
B.Sc (Hons) in Mining Engineering, Imperial College of Science & Technology,
University of London; Associate of the Royal School of Mines, UK
DATO MOHD SALLEH HJ HARUN
INDEPENDENT NON-EXECUTIVE DIRECTOR
(Vice Chairman)
Member of the Malaysian Institute of Certifed Public Accountants; Fellow of the
Institute of Bankers Malaysia
BOARD OF
DIRECTORS PROFILE
Tan Sri Dato Megat Zaharuddin Megat Mohd Nor was appointed as a Director and
Chairman of Maybank on 1 October 2009. He was an Independent Non-Executive
Director of Maybank from July 2004 to February 2009.
He built an outstanding career in the oil and gas industry for 31 years with the Royal
Dutch Shell Group of Companies and was a Regional Business Chief Executive
Ofcer and Managing Director, Shell Exploration and Production B.V. prior to his
retirement in early 2004. He was also the Chairman of Maxis Communications
Berhad from January 2004 to November 2007, Etiqa Insurance & Takaful from
January 2006 until February 2009, Malaysian Rubber Board from February 2009
to May 2010, Director of Capital Market Development Fund from January 2004
to January 2010 and Director of Woodside Petroleum Ltd, a company listed on the
Australian Securities Exchange, from December 2007 to April 2011.
His current directorships in companies within the Maybank Group include as
Chairman of Maybank Investment Bank Berhad and President Commissioner of PT
Bank Internasional Indonesia Tbk. He is also a Director of the ICLIF Leadership and
Governance Centre, Malaysia.
He attended 14 out of the 15 Board meetings held in the fnancial year ended 31
December 2013.
Tan Sri Dato Megat Zaharuddin has no family relationship with any director and is a
nominee of Permodalan Nasional Berhad, a major shareholder of Maybank. He has
no confict of interest with Maybank and has never been charged for any ofence.
Dato Mohd Salleh Hj Harun was appointed as a Director and Vice Chairman of
Maybank on 18 November 2009. He serves as Chairman of the Nomination and
Remuneration, and Employees Share Scheme Committees of the Board.
He started his career as a Senior Accountant with the Treasury between 1971
and 1974 prior to joining the Maybank Group in 1974 as Investment Manager in
Aseambankers Malaysia Berhad (now known as Maybank Investment Bank Berhad),
before moving to Bank Rakyat for a short stint in 1978. Thereafter, Dato Salleh
returned to the Maybank Group where he served in various senior capacities
culminating as Executive Director of Maybank from 1994 to 2000. He was then
appointed as a Deputy Governor of Bank Negara Malaysia, a post he held up to
2004. Since then, he held directorships in the RHB Group including as Chairman of
RHB Insurance Berhad until November 2009.
Chairman of Maybank Ageas Holdings Berhad, Etiqa Insurance Berhad, Etiqa Takaful
Berhad and Maybank Philippines Inc. He is also a Director of Scicom (MSC) Berhad,
Asia Capital Reinsurance Malaysia Sdn Bhd and FIDE Forum.
He attended all 15 Board meetings held in the fnancial year ended
31 December 2013.
Dato Salleh has no family relationship with any director and/or major shareholder
of Maybank. He has no confict of interest with Maybank and has never been
charged for any ofence.
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TAN SRI DATUK DR HADENAN A. JALIL
PhD, Henley Management College, UK; Master of Business Management, Asian
Institute Management, Philippines; Bachelor of Economics, University of Malaya
NON-INDEPENDENT EXECUTIVE DIRECTOR
(Group President & Chief Executive Ofcer)
Bachelor of Science in Accounting, Pennsylvania State University, University Park,
USA and Masters in Business Administration, Finance, University of Denver, USA,
Advanced Management Programme, Harvard Business School, Harvard University
Tan Sri Datuk Dr Hadenan A. Jalil was appointed as a Director of Maybank on 15
July 2009. He serves as Chairman of the Audit Committee and as a member of the
Nomination and Remuneration, and Employees Share Scheme Committees
of the Board.
Tan Sri Datuk Dr Hadenan A. Jalil was the Auditor General from 2000 to 2006.
He served the Government for 36 years in various capacities in the Treasury, the
Ministry of International Trade and Industry and the Ministry of Works prior to his
appointment as Auditor General.
His current directorship in companies within the Maybank Group includes as
Director of Maybank Islamic Berhad. He is a member of the Supervisory Board of An
Binh Commercial Joint Stock Bank (Vietnam), and also Chairman of ICB Islamic Bank
Ltd (Bangladesh), Protasco Berhad and its subsidiary, PNB Commercial Sdn Bhd and
its subsidiaries, Pelangi Management Sdn Bhd, Roadcare Sdn Bhd, Infrastructure
University Kuala Lumpur, Operation Evaluation Panel Malaysia Anti Corruption
Commission and THP Sinar Sdn Bhd. In addition, he sits on the boards of Unilever
(Malaysia) Holdings Sdn Bhd and University Tun Abdul Razak Sdn Bhd as well as
being a member of the Audit Committee, Johor Corporation.
He attended all 15 Board meetings held in the fnancial year ended
31 December 2013.
Tan Sri Datuk Dr Hadenan has no family relationship with any director and/or major
shareholder of Maybank. He has no confict of interest with Maybank and has never
been charged for any ofence.
Datuk Abdul Farid Alias was appointed as the Group President & CEO and Executive
Director of Maybank on 2 August 2013. He serves as Chairman of the Group
Executive Committee and as a member of the Credit Review Committee
of the Board.
He was the Deputy President and Head, Global Banking from 1 July 2010 before his
appointment as Group President & Chief Executive Ofcer. He joined the Maybank
Group in 2008.
Prior to joining Maybank, he has over 20 years of experience in investment banking,
corporate fnance and capital markets with Aseambankers Malaysia Berhad (1992-
1994), Schroders (1994-1995), Malaysian International Merchant Bankers Berhad
(1996-1997), J.P. Morgan (1997-2005) and Khazanah Nasional Berhad (2005-2008).
Director of Maybank Investment Bank Berhad and Maybank Ageas Holdings
Berhad. His directorships in other companies include as Chairman of Malaysia
Electronic Payment System Sdn Bhd and Director of Cagamas Holdings Berhad.
Datuk Abdul Farid Alias is currently the Chairman of The Association of Banks
in Malaysia. He is also the Vice Chairman of Institut Bank-Bank Malaysia and a
member of the ASEAN Banking Council, the Asian Banker Association, Visa Senior
Client Council Program and Investment Panel of Kumpulan Wang Persaraan
(Diperbadankan) (KWAP).
He attended seven Board meetings held in the fnancial year ended 31 December
2013 since his appointment on 2 August 2013.
Datuk Abdul Farid Alias has no family relationship with any director and/or major
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DATO SERI ISMAIL SHAHUDIN
Bachelor of Economics, University of Malaya
DATO DR TAN TAT WAI
PhD in Economics, Harvard University, USA; Master of Economics, University
of Wisconsin (Madison), USA; Bachelor of Science in Electrical Engineering &
Economics, Massachusetts Institute of Technology, USA
Dato Seri Ismail Shahudin was appointed as a Director of Maybank on 15 July 2009.
He serves as Chairman of the Credit Review Committee and as a member of the
Risk Management Committee of the Board.
He was Chairman of Bank Muamalat Malaysia Berhad from 2004 until his
retirement in July 2008. He has held senior positions in Citibank, serving both in
Malaysia and New York, United Asian Bank and Maybank where he was appointed
Executive Director in 1997. He left Maybank in 2002 to assume the position of
Group Chief Executive Ofcer of MMC Corporation Berhad.
His current directorships in companies within the Maybank Group are as Chairman
of Maybank Islamic Berhad and as Director of MCB Bank Limited, Pakistan.
He is also a director of several public listed companies which include Nadayu
Properties Berhad (formerly known as Mutiara Goodyear Development Berhad), EP
Manufacturing Berhad, Opus International Consultants Ltd, a company listed on
New Zealand Stock Exchange and Aseana Properties Limited, a company listed on
the London Stock Exchange.
December 2013.
Dato Seri Ismail Shahudin has no family relationship with any director and/or major
Dato Dr Tan Tat Wai was appointed as a Director of Maybank on 15 July 2009. He
serves as Chairman of the Risk Management Committee and as a member of the
Nomination and Remuneration, and Employees Share Scheme Committees of the
Board.
He started his career with Bank Negara Malaysia in 1978, undertaking research
in economic policies. Subsequently, he assumed the role of a consultant to Bank
Negara Malaysia, World Bank and the United Nations University for several years.
He served as the Secretary and a member on the Council of Malaysian Invisible
Trade, set up to formulate policies to reduce Malaysias defcit in service trade.
He was a member of the Government appointed Malaysian Business Council, the
Corporate Malaysia Roundtable, the Penang Industrial Council, the Industrial Co-
ordination Council (ICC) and the National Committee on Business Competitiveness
(NCBC) set up by the Ministry of International Trade and Industry. He represented
Malaysia as a member of the APEC Business Advisory Council (ABAC) and sat on
the Council of Wawasan Open University.
Within the Maybank Group, he is a Director of Maybank Trustees Berhad. He has
been the Executive Director of Southern Steel Berhad since January 2014, prior to
which he had been its Group Managing Director for about 20 years. He also sits on
the Boards of Shangri-La Hotels (M) Bhd, Lotte Chemical Titan Holding Sdn Bhd
(formerly known as Titan Chemicals Corp Bhd), NSL Ltd, a public-listed company
in Singapore and Starglow Investments Ltd, and several other private limited
companies. He is also the President of the not-for-proft Lam Wah Ee Hospital.
He attended all 15 Board meetings held in the fnancial year ended 31 December
2013.
Dato Dr Tan has no family relationship with any director and/or major shareholder
of Maybank. He has no confict of interest with Maybank and has never been
charged for any ofence.
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ZAINAL ABIDIN JAMAL
NON-INDEPENDENT NON-EXECUTIVE DIRECTOR
LL.B (Honours), University of Singapore
CHEAH TEIK SENG
Bachelor of Science, University of Manchester, UK;
Fellow of the Institute of Chartered Accountants in England and Wales
Zainal Abidin Jamal was appointed as a Director of Maybank on 22 July 2009. He
serves as a member of the Credit Review, Nomination and Remuneration, and
Employees Share Scheme Committees of the Board.
He is a practising corporate and commercial lawyer and established his frm, Zainal
Abidin & Co in 1987, where he is the Founder and Senior Partner. He was enrolled as
an Advocate & Solicitor of the High Court of Malaya in 1986. Between 1983 and 1986,
he served as the Company Secretary of Harrisons Malaysian Plantations Berhad.
Prior to that, he had practised in Singapore where he was enrolled in 1980 as an
Advocate and Solicitor of the Supreme Court of Singapore and he has also served as
a First Class Magistrate in Brunei Darussalam.
Chairman of Maybank Trustees Berhad and as Director of Etiqa Insurance Berhad,
Etiqa Takaful Berhad, and Maybank Islamic Berhad. He also serves on the Boards
of SP Setia Berhad, Lam Soon (M) Berhad, Kesas Holdings Berhad, PNB Asset
Management (Japan) Co Ltd, PNB International Limited and PNB-SBI ASEAN
Gateway Investment Management Limited.
He attended all 15 Board meetings held in the fnancial year ended 31 December
2013.
Zainal Abidin Jamal has no family relationship with any director and is a nominee of
Permodalan Nasional Berhad, a major shareholder of Maybank. He has no confict
of interest with Maybank and has never been charged for any ofence.
Cheah Teik Seng was appointed as a Director of Maybank on 26 August 2009. He
serves as a member of the Audit and Risk Management Committees of the Board.
As a federal government Public Services Department scholarship holder, he served
in the civil service in the early 80s. After leaving government service, he took on
various roles in the banking and fnancial services industry both locally as well
as in London, Hong Kong and Singapore. He held positions in Public Bank, Chase
Manhattan Bank, Merrill Lynch, Goldman Sachs, UBS, and in BNP Paribas, holding
the position of Managing Director for a tenure of nine years. He was appointed as
CEO-designate of ECM Libra Avenue Group in 2006. He is currently a Director and
partner of Aktis Capital Singapore Pte Ltd.
Chairman of Maybank (Cambodia) Plc., Maybank Kim Eng Holdings Ltd and
Maybank Agro Fund Sdn Bhd as well as Director of Maybank Investment Bank
Berhad.
Cheah Teik Seng sits on the boards of other listed companies such as Drillsearch
Energy Limited in Australia and MJIC Investments Corp. in the Philippines. He also
sits as director of various private equity companies in Hong Kong and China.
He attended 14 out of 15 Board meetings held in the fnancial year ended 31
December 2013.
Cheah Teik Seng has no family relationship with any director and/or major
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DATO JOHAN ARIFFIN
B.A Economics, Indiana University, USA; MBA, University of Miami, USA
DATUK MOHAIYANI SHAMSUDIN
MBA (Finance) Cornell University, Ithaca, New York, USA; BA (Economics) Knox
College, Galesburg, Illinois, USA
Dato Johan Arifn was appointed as a Director of Maybank on 26 August 2009. He
serves as a member of the Audit and Credit Review Committees of the Board.
He started his career in the real estate division of Citibank. Thereafter, he held
various senior positions in several subsidiaries of public listed companies while
venturing into his own successful marketing and advertising consultancy and
property development business. He then headed Danahartas Property Division as
Senior General Manager before moving on to head TTDI Development Sdn Bhd up
to January 2009.
His current directorships in companies within the Maybank Group are as Chairman
of Maybank International (L) Limited and Maybank International Trust (L) Ltd as well
as Director of Maybank Ageas Holdings Berhad, Etiqa Insurance Berhad and Etiqa
Takaful Berhad. He is currently also the Chairman of Mitraland Properties Sdn Bhd
and Director of Sime Darby Property Berhad, and a National Council member of the
Real Estate Housing Developers Association Malaysia (REHDA).
December 2013.
Dato Johan Arifn has no family relationship with any director and/or major
Datuk Mohaiyani was appointed as a Director of Maybank on 22 August 2011. She
serves as a member of the Credit Review Committee of the Board.
She was with Amanah Chase Merchant Bank Berhad and Seagroatt & Campbell Sdn
Bhd before starting her own stockbroking company, Mohaiyani Securities Sdn Bhd
in 1985 and assumed the role of Managing Director. During her active involvement
in the stockbroking industry, she was appointed as Deputy Chairman of Kuala
Lumpur Stock Exchange (now known as Bursa Malaysia Bhd) and Chairman of
Association of Stockbroking Companies Malaysia. She had also been appointed as
a member of several high level national working groups such as National Economic
Action Council (NEAC), National Economic Consultative Council II (MAPEN II),
National Information Technology Council (NITC), Ministry of Finance High Level
Finance Committee for Corporate Governance and National Advisory Council for
Women, Ministry of Women, Family and Community Development.
Her current directorships in companies within the Maybank Group include as
Chairman of Maybank Asset Management Group Berhad and Maybank Asset
Management Sdn Bhd as well as Director of Maybank Investment Bank Berhad.
At present she serves as a director of Capital Market Development Fund as well
as being a member and trustee of National Heart Institute Foundation, NUR
Foundation, Perdana Leadership Foundation and National Council of Womens
Organisations Malaysia (NCWO).
She attended 14 out of the 15 Board meetings held in the fnancial year ended 31
December 2013.
Datuk Mohaiyani Shamsudin has no family relationship with any director and/or
major shareholder of Maybank. She has no confict of interest with Maybank and
has never been charged for any ofence.
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ERRY RIYANA HARDJAPAMEKAS
64 years of age Indonesian
Bachelors Degree in Economics/Accounting, Padjadjaran University, Bandung,
Indonesia; Financial Management Course, Harvard Business School, USA
MOHD NAZLAN MOHD GHAZALI
GROUP GENERAL COUNSEL & COMPANY SECRETARY
Erry Riyana Hardjapamekas was appointed as a Director of Maybank on 25 June
2012. He also serves as a member of the Audit Committee of the Board.
He has altogether more than 30 years of working experience. His main expertise
is in the feld of general and fnancial management where he had spent a total of
12 years, including four years as the Finance Director of PT Timah Tbk before his
appointment as the President Director of PT Timah Tbk in March 1994, a position
he held for eight years. In the banking industry, he was the President Commissioner
of PT Bank BNI Tbk from February 2008 to May 2009, and prior to that, his
contribution to Indonesias capital markets had led to his election as a member of
the Board of Commissioners of the Jakarta Stock Exchange in 1996 and as President
Commissioner from March 1998 to April 2001.
Erry Riyana had also been selected as a Commissioner and Vice Chairman of
Corruption Eradication Commission of the Republic of Indonesia in 2003, a position
he held until 2007. He was subsequently the Chairman of the National Team of
Military Business Transfer from 2008 to 2009, followed by his appointment as
a member of Selection Committee of Commissioners of Corruption Eradication
Commission in 2010 and 2011. Additionally, since 2011, he has been the Chairman of
Independent Team of National Bureaucracy Reform.
Erry Riyana is currently an Independent Commissioner of PT ABM Investama Tbk,
PT Hero Supermarket Tbk, PT Tirta Investama/Danone Aqua, PT Weda Bay Nickel
and Chief Commissioner of PT MRT Jakarta.
He attended all 15 Board meetings in the fnancial year ended 31 December 2013.
Erry Riyana has no family relationship with any director and/or major shareholder of
Maybank. He has no confict of interest with Maybank and has never been charged
for any ofence.
Mohd Nazlan Mohd Ghazali is the Group General Counsel & Company
Secretary of Maybank, and is also its Group Head of Corporate & Legal Services.
He graduated with a Bachelor of Arts in Jurisprudence as well as Master of Arts,
both from the University of Oxford. He is also a Barrister at Law (Lincolns Inn)
and an Advocate & Solicitor of the High Court of Malaya.
He was a Partner and Head of Equity Capital Markets at Messrs Zaid Ibrahim
& Co, specialising mainly in corporate, fnancial services and securities law
matters, particularly in respect of corporate transactions such as capital raisings
and M&As before joining Maybank in 2005. Prior to that, he was with the
Securities Commission of Malaysia (SC) for about seven years until 2000 and
his last position was the Head/General Manager of the Enforcement Division,
with overall responsibility over the investigation, prosecution and complaints
departments. He had also earlier served the Executive Chairman's Ofce
and the Issues & Investment Division whilst at the SC. Mohd Nazlan started
his working career in 1991 at Messrs Shook Lin & Bok, handling corporate,
conveyancing and banking law matters.
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Datuk Abdul Farid Alias was appointed as Group President & Chief Executive Ofcer of Maybank
Group on 2 August 2013 and CEO, Malaysia efective 1 January 2014. Prior to this, Datuk Farid was
the Deputy President and Head of Global Banking of Maybank Group.
Responsibility
Datuk Farid spearheads Maybank Group's business and growth strategy across all lines of
businesses and countries that Maybank operates in, ensuring a good balance between driving
operational excellence, strong governance and business growth. He is also responsible for
developing and driving Maybank's customer value proposition, cutting across all lines of business
and regional boundaries, and overall ensuring sustainable long-term value for shareholders.
Experience
Datuk Farid has over 20 years of experience in investment banking and capital markets, having
served with various merchant and investment banks such Aseambankers Malaysia Berhad from
1992 to 1994, Schroders from 1994 to 1995, Malaysia International Merchant Bankers Berhad
from 1996 to 1997, and J.P. Morgan from 1997 to 2005. He was attached to Khazanah Nasional
Berhad from 2005 to 2008 as Director of Investments. In Khazanah, he sat on the Board of
Commissioners/Directors of several public-listed companies.
Qualifcation
Bachelor of Science in Accounting, Pennsylvania State University, University Park, USA; Masters
in Business Administration, Finance, University of Denver, USA; Advanced Management Program,
Harvard Business School, USA.
Committee Membership/Appointments
Member of the Boards of Directors of Maybank Investment Bank Berhad and Maybank Ageas
Holdings Berhad; Chairman of ASEAN Inter-Regional Relations, ASEAN Banking Council (ABC);
Chairman of The Association of Banks in Malaysia; Chairman of Malaysian Electronic Payment
System Sdn Bhd; Director of Cagamas Holdings Berhad; Vice Chairman of Institut Bank-Bank
Malaysia; Member of the Investment Panels of Kumpulan Wang Persaraan (Diperbadankan)
(Retirement Fund (Incorporated)).
Mohamed Rafque Merican has been the Group Chief Financial Ofcer of Maybank Group
since 1 June 2012.
Responsibility
Rafque is responsible for the Groups fnancial, capital and funding management. He
oversees Group Finance Controller, Group Corporate Treasurer, Group Tax, Group
Performance Reporting & Investor Relations, Group Strategic Procurement, Group Finance
Strategic Ofce and Group Finance Operations (Corporate Remedial Management and
Enterprise Information Management).
Experience
He has more than 20 years of experience in the corporate sector, including fve years
as Chief Financial Ofcer of Tenaga Nasional Berhad (TNB) and Malakof Berhad. Prior
to joining TNB in 2009, he served at Radicare (M) Sdn Bhd, the facilities management
concessionaire for hospitals in Klang Valley, Selangor, Kelantan, Terengganu and Pahang
as its Chief Operating Ofcer initially and subsequently as its Chief Executive Ofcer. He
also held corporate fnance and advisory roles with Amanah Capital Group and Bumiputra
Merchant Bankers Berhad in the early part of his career.
Qualifcation
Fellow of the Association of Chartered Certifed Accountants (ACCA), United Kingdom;
Chartered Accountant of the Malaysian Institute of Accountants (MIA).
Member of Malaysia Advisory Committee of Association of Chartered Certifed Accountants
(ACCA) Malaysia.
Group President & Chief Executive Ofcer
Chief Executive Ofcer (CEO), Malaysia
Group Head, Global Banking (Acting)
MOHAMED RAFIQUE MERICAN BIN MOHD
WAHIDUDDIN MERICAN
GROUP EXECUTIVE
COMMITTEE
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Nora Abd Manaf was appointed as Group Chief Human Capital Ofcer of Maybank Group
efective 1 January 2014. Prior to this, she was Senior Executive Vice President and Head,
Group Human Capital, Maybank Group.
Responsibility
Nora formulates the Groups Strategy for Human Capital management and development.
She had been leading the People transformation Programme since 2009. Nora is responsible
for the Human Capital Centre of Expertise which develops and implements policies which
are applicable Group-wide, across the various businesses and countries, as well as ensuring
that strategic Human Capital Management is efective across the Group.
Experience
Prior to joining Maybank, she was with Standard Chartered Group for over 9 years,
where her last held position was the Head of Human Resource, Scope International
(a wholly owned subsidiary of Standard Chartered UK Plc). Other roles in the Group
include Executive Vice President for Strategic Initiatives, PT Bank Permata, Indonesia,
a leadership development role in London, an Integration role in Hong Kong post SCB
acquisition of Chase Retail bank HK, Country Rewards Head, Malaysia, and Head Human
Resources, Global Wholesale Banking Malaysia. Prior to Standard Chartered, she was
with several multinationals and large local organisations across several sectors including
telecommunications in Maxis and semiconductor in Intel.
Qualifcation
Chartered Accountant, registered with the Malaysian Institute of Accountants; Postgraduate
certifcation in Human Resource Development, Cornell University; Certifed Strengths Coach
Level II (Gallup); ICAEW Qualifed Trainer (Institute of Chartered Accountants in England
and Wales QPRT).
President of the Malayan Commercial Banks Association (MCBA); Chairman of the Human
Resource Management and Development Group (HRMDG); Council Member of the
Malaysian Employers Federation (MEF); Council Member of the Malaysia National Labour
Advisory Council (NLAC); elected Chairman of the Malaysia GLC G20 HR Circle; and
inducted into the Global HR50.
Datuk Lim Hong Tat was appointed as Group Head, Community Financial Services of
Maybank Group and CEO, Maybank Singapore since 1 January 2014. Prior to this he was the
Deputy President and Head of Community Financial Services.
Responsibility
As Group Head of Community Financial Services, he is responsible for driving and
implementing the Banks community banking strategy across all geographies. This covers
branch banking, consumer lending, SME and Business Banking, sales and distribution, wealth
management, payments, virtual banking, product innovation and customer segmentation.
He is also responsible for growing the business of all Maybank entities in Singapore. This
spans the full suite of fnancial products and services commercial banking, global banking,
investment banking, and insurance.
Experience
Datuk Lim joined the bank upon graduation in 1981. He has 32 years of experience
covering all aspects of banking, having managed branches, regional banking, credit cards
and international banking operations including holding senior management positions as
Director/President and CEO of Maybank Philippines Incorporated, Head of International
Banking and Head of Consumer Banking in Maybank Group.
Qualifcation
Bachelor of Economics (Business Administration) (Hons), University of Malaya; Diploma in
Marketing & Selling Bank Services, International Management Centre.
Director of Maybank Kim Eng Holdings Ltd; Member of the Visa Product Executive Council;
Board Member of EFMA (European Financial Management Association); Director of Credit
Bureau Malaysia Sdn Bhd; Chairman of MEPS Strategic Business Committee.
DATUK LIM HONG TAT
Group Head, Community Financial Services
Chief Executive Ofcer (CEO), Maybank Singapore
NORA ABD MANAF
Group Chief Human Capital Ofcer
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Dr John Lee has been the Group Chief Risk Ofcer of Maybank Group since 17 January 2011.
Responsibility
Dr John Lee is responsible for risk management, including credit and compliance, across the
Group.
Experience
Dr John Lee was previously with Amanah Merchant Bank and the Kuala Lumpur Options
and Financial Futures Exchange (KLOFFE). Prior to his appointment in Maybank, he
served in fnancial services consulting and advisory, where he was a partner with KPMG
Business Advisory for 13 years, assisting numerous fnancial institutions across the Asia
Pacifc markets. He has in-depth fnancial industry and risk management expertise with
specialisation in Islamic fnance, business strategy, risk management and performance
management.
He was awarded the Bank Risk Manager of the Year 2013 by Asia Risk in October for his
contribution to the Group.
Qualifcation
Bachelor of Economics, Monash University, Australia. Doctorate of Philosophy in Economics,
Monash University, Australia; Fellow Certifed Practicing Accountant of the Australian
Society of CPAs; Member of the American Finance Association, Econometrics Society and
Society of Financial Studies.
Member of the Liquidity Risk Management Working Group and the Risk Management
Working Group of the Islamic Financial Services Board (IFSB); Member of Monash University
(Malaysian Branch) School of Business Advisory Board.
DR JOHN LEE HIN HOCK
Group Chief Risk Ofcer
Muzafar Hisham has been the Group Head of Islamic Banking and Chief Executive Ofcer of
Maybank Islamic Berhad since 30 March 2011.
Responsibility
As the Head of Islamic Banking Group and CEO of Maybank Islamic, Muzafar plays the
leading role for managing and overseeing the overall Islamic banking franchise of Malayan
Banking Berhad and ensures that it operates on a parallel platform, leveraging on the Groups
resources. At present, his responsibilities include determining business strategy for the
Groups Islamic Banking business including Maybank Islamics products development and
delivery, marketing support as well as risk and shariah-compliance management, spearheading
the expansion of Group Islamic Banking in ASEAN and globally.
Experience
Muzafar has collectively 19 years of experience in the banking and fnancial services. He
started his career with Asian International Merchant Bankers Berhad in the Corporate Banking
Division. He later joined Amanah Merchant Bank Berhad and Amanah Short Deposits Berhad
where he was involved extensively in Corporate Debt and Financing businesses from debt
syndication to advising on private debt securities. Muzafar was also involved in various debt
and corporate restructuring exercises during the 1997/1998 fnancial crisis. During his tenure
at CIMB Investment Bank and HSBC Amanah, Muzafar oversaw the investment banking
business. Prior to joining Maybank, Muzafar was the Deputy Chief Executive Ofcer of CIMB
Islamic Bank Berhad. He was previously a member of the Board of Directors of CIMB Insurance
Brokers Sdn Bhd.
He received the Asset Triple A Awards 2013, Industry Leadership Award as Islamic Banker of
the Year for his contribution to developing Islamic fnance regionally and growing Maybank
Groups Islamic banking business.
Qualifcation
Bachelor of Science (Hons) in Economics and Accounting, University of Bristol, United
Kingdom.
Chairman of the Standards Committee, Association of Islamic Banking Institutions Malaysia
(AIBIM); Member of H.M. Treasury U.K. Global Islamic Finance and Investment Group.
MUZAFFAR HISHAM
Group Head, Islamic Banking
Chief Executive Ofcer (CEO), Maybank Islamic Berhad
GROUP EXECUTIVE
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Geof Stecyk was appointed as the Group Chief Technology Ofcer of Maybank Group
efective 1 January 2014. Prior to this, he was the Head of Enterprise Transformation Services
of Maybank Group.

Responsibility
Geof strategises, directs, drives and builds a diferentiated regional strategic capability for
the Group to use technology as a competitive advantage for both provision of service and
cost advantage on a Group basis. He is entrusted with the responsibility of creating a centre
of excellence to serve the region where the Group IT functions are aligned to achieve the
Banks Vision and Mission. Being in charge of running the complete infrastructure of the
Group, he is responsible for maximising capacity and capability of Regional IT and delivering
efcient and consistent support services to the Group.
Experience
Geof joined Maybank in November 2008 as Chief Transformation Ofcer leading the
LEAP30 Performance Improvement Programme. Prior to joining Maybank, he was National
Head of Bancassurance with American International Assurance (AIA) China from 2006
to 2008. He was attached to Southern Bank Berhad from 2001 to 2004 as the Executive
Vice President, Business Integration. He was involved in the transformation of the bank
which covered all major areas of the retail and SME banking with an emphasis on driving
immediate earnings growth to fund the structural transformation over the medium term.
Qualifcation
Bachelor of Commerce (Marketing/Finance), University of Alberta, Canada.
Board member of Maybank (PNG) Ltd; Member of the Financial Institution Steering
Committee, Bank Negara Malaysia.
GEOFF STECYK
Group Chief Technology Ofcer
Kamaludin Ahmad was appointed as Chief Executive Ofcer (CEO) of Maybank Ageas
Holdings Bhd (MAHB) and Group Head of Insurance & Takaful, Maybank Group efective 1
December 2013.
Responsibility
He is responsible for the growth of Insurance & Takaful business of Maybank Group.
Experience
Kamaludin joined Maybank Group as CEO of Etiqa Insurance Berhad on 4 June 2012 to drive
Etiqa's conventional insurance business. Prior to joining Etiqa, he was with UEM Group
as Head of Corporate Strategy and Performance. He was with AIG for 15 years where he
left as Regional VP, Asia Pacifc. He had also served with Bank Negara Malaysia, Securities
Commission Malaysia and AmInvestment Bank.
Qualifcation
Bachelor of Science (Hons) in Actuarial Science, University of Kent, England.
Vice President of Life Insurance Association of Malaysia; Member of Management
Committee of Persatuan Insurans Am Malaysia; Member of Board of Insurance Services
Malaysia Berhad.
KAMALUDIN AHMAD
Group Head, Insurance & Takaful
Chief Executive Ofcer (CEO), Maybank Ageas Holdings Bhd (MAHB)
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Michael Foong was appointed as Group Chief Strategy Ofcer of Maybank Group efective 1
January 2014. Prior to this, he was the Chief Strategy and Transformation Ofcer of Maybank
Group.
Responsibility
Michael leads the Ofce of the Group President & CEO, which is responsible for driving the
Groups agenda on regionalisation, business development, transformation and productivity
programmes across the region, and developing the groups long-term strategic objectives.
He also oversees the Group Corporate Development & Innovation unit, as well as Corporate
Afairs, Strategic Marketing and Group Service Quality Management.
Experience
Prior to joining Maybank Group, Michael was Managing Director of Accentures
management consulting practice in Malaysia. He spent 17 years serving fnancial services
clients throughout Asia, primarily banks but also including insurance companies and stock
exchanges. His track record has included group-wide corporate planning, devising group and
business sector strategies, operating models, business process reengineering, performance
management frameworks, and ICT strategies. Between 2004 and 2011, he focused on
architecting and implementing large-scale multi-year transformation programmes for banks
in Malaysia and Singapore.
Michael has held various other management positions in Accenture. He co-managed
Accentures Asia-Pacifc Technology Ventures unit from 2000 to 2002, and after that
Accentures Asia-Pacifc Corporate Development ofce. Michael has worked throughout
Asia Pacifc and spent seven years seconded as a leader into Accentures ofces in Beijing,
Shanghai, Hong Kong, Sydney, Singapore, Tokyo and Jakarta.
Qualifcation
Master of Arts in Economics and Management Studies, Cambridge University, United
Kingdom; Advanced Business Management Program, Kellogg Graduate School of
Management, Northwestern University, Chicago, USA.
Nil.
MICHAEL FOONG SEONG YEW
Group Chief Strategy Ofcer
Ofce of the Group President & CEO
Pollie Sim was appointed as CEO, International of Maybank Group with efect from 1
October 2013.
Responsibility
Pollie is responsible for strategising, leading and transforming the Groups overseas
operations covering 16 countries excluding Singapore and Indonesia. The key responsibilities
of her team are to build greater synergy and accelerate proftability of the Maybank
franchise across the international landscape for long term growth, as well as to establish the
Bank as a regional fnancial services leader.

Experience
Prior to her latest appointment as CEO, International of Maybank Group, Pollie took the
helm of Maybank Singapore in July 2006. She has more than 30 years of experience in the
banking and fnancial industry and has held many senior positions within Maybank Group.
She has been instrumental in leading and developing Maybanks retail banking business
in Singapore. Prior to Maybank Singapore, Pollie was Chief Executive Ofcer of Mayban
Finance (S) Ltd.
In 2012, Pollie was accorded the Distinguished FICP (Financial Industry Certifed
Professional) by IBF (The Institute of Banking & Finance, Singapore) and also received the
Pacifc Rim Bankers Programme Distinguished Leadership Award.
Qualifcation
Master of Business Administration, Brunel University of West London, United Kingdom;
Diploma in Management Studies, Singapore Institute of Management; Diploma in Marketing
& Selling Bank Services, International Management Centre.

Non-executive Director for several companies, Singapore Unit Trusts Ltd, Sorak Financial
Holdings Pte Ltd, Maybank Philippines Incorporated, Maybank Kim Eng Holdings Ltd and
Maybank (Cambodia) Plc; Chairman of the Singapore Unit Trust Investment Committee.
POLLIE SIM
Chief Executive Ofcer (CEO), International
GROUP EXECUTIVE
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Taswin, an Indonesian citizen, was appointed as President Director Designate since 11
November 2013.
Responsibility
Taswin is responsible for the overall business performance and growth of BII. He oversees
BII's operations, which includes the banking services such as retail, business and global
banking as well as risk management, fnance, human capital, operations & IT, legal and
compliance. He is also responsible in leveraging on the strengths of Maybank Group to
capture a larger slice of market share and at the same time strengthening Maybank Group's
operation in Indonesia.
Experience
Taswin, has served as an independent member of the Board of Commissioners of BII
since 2003 until 11 November 2013. He was also an independent member of the Board
of Commissioners of PT Jasa Angkasa Semesta Tbk (2005-2013), President Director of PT
Indonesia Infrastructure Finance (2010-2011), Director of Barclays Bank Plc Indonesia and
was Barclays Head of Asia for Alternate Capital Market/Islamic Finance (2001-2003). He
was Vice President of Deutsche Bank AG, Jakarta and was the Head of Debt Capital Market
and Liability Risk Management (1997-2001). He started his banking career at Citibank NA,
Jakarta, where he was Head of Corporate Restructuring Unit and Project Finance (1992-1997).
Qualifcation
Bachelor of Science in Business Administration degree in Accounting, Cum Laude (Honors),
The Ohio State University, USA.
Nil.
TASWIN ZAKARIA
President Director Designate*
Bank Internasional Indonesia (BII)
*subject to regulatory approval
Jerome Hon was appointed as Group Chief Operations Ofcer of Maybank Group efective
1 December 2013.
Responsibility
Jerome is responsible to formulate and develop the operational strategy to support Maybank
Groups Vision and Mission. He oversees the Groups overall operations and processes and
ensures that the delivery of support service is efcient and efective.
Experience
Prior to this, Jerome was the Chief Audit Executive of Maybank for more than 7 years where
he oversaw the Internal Audit functions of Maybank as well as its subsidiaries. Jerome has
been with Maybank for 20 years and has since served in various positions within the Maybank
Group including Accounting, Central Operations and key management positions of Maybank
Group subsidiaries involved in trust and futures broking businesses. Prior to joining Maybank,
he was articled with an accounting frm where he pursued his qualifcation as a Chartered
Accountant and served the frm for 8 years. During the period with the frm, he was involved
in various types of audits which include fnancial services, insurance, manufacturing and other
services.
Qualifcation
Malaysian Institute of Certifed Public Accountants (MICPA); Member of MICPA; Member of
the Malaysia Institute of Accountants (MIA).
Nil.
JEROME HON KAH CHO
Group Chief Operations Ofcer
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Introduction
The Maybank Board believes that good corporate governance should not be
a mere statement of compliance, and is committed to achieving the highest
standards of business integrity, ethics and professionalism across all of
the Groups activities. With this commitment and in line with the Groups
regional aspirations in humanising fnancial services, the Board aims to
enhance business prosperity and foster a culture with ethical values, whilst
continuously delivering and sustaining the Groups value propositions for the
beneft of its stakeholders locally and internationally.
The Boards fundamental approach in this regard is to ensure that the right executive leadership, strategy and internal controls for risk management are well in place.
The Board also continuously reviews its governance model to ensure its relevance, efectiveness and ability to meet the challenges of the future.
This Corporate Governance Statement seeks to provide vital insights into the corporate governance practices of the Group to the investors. The Maybank Groups
corporate governance model adopts the following requirements and guidelines:-
1. Malaysian Code on Corporate Governance 2012 (referred to herein as the Code or MCCG 2012);
2. Bank Negara Malaysia (BNM)s Revised Guidelines on Corporate Governance for Licensed Institutions (BNM/GP1);
3. Bursa Malaysia Securities Berhad (Bursa Malaysia)s Main Market Listing Requirements (Listing Requirements);
4. Green Book on Enhancing Board Efectiveness (Green Book) by the Putrajaya Committee on Government Linked Companies (GLCs)' High Performance;
5. Corporate Governance Guide: Towards Boardroom Excellence 2
nd
Edition (CG Guide) by Bursa Malaysia; and
6. Minority Shareholders Watchdog Group (MSWG)s Malaysia-ASEAN Corporate Governance Scorecard.
Maybank also monitors developments in corporate governance standards of leading and reputable organisations and institutions in the region and around the world to
ensure that its own highest standards of corporate governance are upheld.
Testament to the Groups strong commitment in this respect, the Bank had received several accolades in 2013 for demonstrating high standards of corporate governance
including the Gold Award for Most Outstanding Annual Report of the Year as well as the Industry Excellence Award in the Finance category for Main Market listed
companies at the National Annual Corporate Reports Awards 2013. The Bank was also awarded the Best Corporate Governance in Malaysia by FinanceAsia Asias Best
Managed Companies Poll 2013.
On 1 October 2013, Maybank revised its Group Organisation Structure and leadership team in order to accelerate the Groups regional business performance and
operational excellence to take Maybank to and beyond 2015. With this transformation, Maybanks regionalisation eforts will be hastened, efciency and productivity
Group-wide signifcantly raised, synergies reaped and potentials realised. At the same time, it is expected that leadership positions in businesses across the Maybank
Group will be enhanced, high performance culture frmly institutionalised and group governance further strengthened.
STATEMENT ON
CORPORATE GOVERNANCE
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Shareholders
Board
Board of Trustees
Maybank Foundation
Level of
Authorities
Policies
Vision
Mission
Values
Delegation Accountability
Management Standards
Operating Standards
Independent
Assurance
Compliance Risk

PCEO
External
Auditors
Group Management
Executive Committee
Management
Framework
Management
Committee
Internal
Auditors
Employees
Share Scheme
Committee
Nomination &
Remuneration
Committee
Risk
Management
Committee
Credit Review
Committee
Audit
Committee
THE BOARD OF DIRECTORS
Board Charter
In recognition that robust and well thought-out corporate governance practices
are essential to safeguard the interests of the Groups stakeholders, the Maybank
Board is guided by the Board Manual (Manual) in respect of the Boards role,
powers, duties and functions. The Board Manual is reviewed periodically and
has recently been revised to incorporate changes to the applicable legislations
notably, the introduction of Financial Services Act 2013 and the latest
amendments to the Listing Requirements (Principle 1, Recommendations 1.1 and 1.7
of the MCCG 2012).
The Manual not only refects the current best practices and the applicable
rules and regulations, it also outlines processes and procedures to ensure
the Groups boards and their committees efectiveness and efciency. It is a
dynamic document to be updated from time to time to refect changes to the
Banks policies, procedures and processes as well as amended relevant rules and
regulations, or to be reviewed at least once in two years, whichever is earlier.
The Groups subsidiaries and associates boards, both locally and overseas, are
encouraged to adopt similar manuals for their respective corporate entities.
The Manual comprises, amongst others, well defned terms of reference as well
as authority limits for the Board and its committees, and the various relevant
internal policies.
The chapters covered under the Manual are as follows:
1. Groups standard of business conduct
(Recommendation 1.3 of the MCCG 2012);
2. Directors duties and obligations;
3. Appointment and resignation of Directors;
4. Governance structure;
5. Board and board committee proceedings;
6. Remuneration and benefts for Directors;
7. Supply of information to the Board;
8. Training and induction programmes;
9. Annual Board assessment;
10. Confict of interest and related party transactions; and
11. Other key policies of the Bank and the Group.
The Board is pleased to inform the shareholders on the manner in which the Group has applied its corporate governance model, the eight principles and 26
recommendations of the Code as well as the extent of compliance with the Code throughout the fnancial year ended 31 December 2013, as set out hereunder.
In general, Maybank is in compliance with the Principles set out in MCCG 2012 and such application of the respective principles will be highlighted in various sections in
this Corporate Governance Statement as well as this Annual Report.
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Group General Counsel &
Company Secretary
Inclusiveness
The Board is committed to ensuring diversity and inclusiveness in its composition
and deliberations and the Group embraces the proposition that having a diverse
Board would have a positive, value-relevant impact on the Group. Appointments
to the Board are based on merit.
Specifcally, in accordance with Recommendation 2.2 of the Code, Maybank has
established the Groups Board Gender Diversity Policy (Gender Diversity Policy)
to demonstrate its commitment in having an increasing women representation
on its Board. Under the Gender Diversity Policy, the Board adopts measurable
objectives from time to time i.e. maintaining at least one (1) woman Director on
the Board and having minimum 20% women representation by 2016. To achieve
these objectives, the selection process for the appointments of Directors involves
the short-listing of potential candidates which includes at least one (1) woman
representation whenever reasonably possible and that priority is placed on the
appointment of a woman Director to fll a directorship vacated by a retiring or
resigning woman Director.
Moreover, the selection of Directors is guided by the criteria outlined in the
Groups Policy on Fit and Proper Criteria for Appointment/Reappointment of
Key Responsible Persons (KRPs) of Licensed Institutions in Maybank Group
(Fit and Proper Policy) as duly assessed by the Nomination and Remuneration
Committee (NRC).
Directors independence and Independent Non-Executive Directors
The current Board composition, which comprises a high proportion of
Independent Non-Executive Directors, helps the Board to ensure and provide
strong and efective oversight over management. The composition also refects
the interest of the Banks majority shareholder which is adequately represented
by the appointment of its nominee directors, balancing the interest of the
minority shareholders. Non-Executive Directors do not participate in the day-
to-day management of the Bank and do not engage in any business dealing or
other relationships with the Bank (other than in situations permitted by the
applicable regulations) in order to ensure that they remain truly capable of
exercising independent judgment and act in the best interests of the Group and
its shareholders. Further, the Board is satisfed and assured that no individual or
group of Directors has unfettered powers of decision that could create a potential
confict of interest. Additionally, in line with the requirements of BNM/GP1, none
of the Banks Independent Non-Executive Directors has more than a 5% equity
interest in the licensed institution or in its related companies, and none of them is
connected to a substantial shareholder of the licensed institution.
The Non-Executive Directors of Maybank continue to proactively engage with
senior management and other relevant parties such as the external/internal
auditors as well as the Banks Compliance and Risk units, to ensure that the various
concerns and issues relevant to the management and oversight of the business
and operations of the Bank and the Group are properly addressed. The Boards
commitment to ensure good governance in its deliberation on key issues is evident
with the scheduling of Board Time Without Management (where the session
involves only Non Executive Directors) as a permanent item in the monthly Board
meeting agenda (at the end of each meeting).
The Board ensures that all Independent Non-Executive Directors possess the
following qualities:
Ability to challenge the assumptions, beliefs or viewpoints of others with
intelligent questioning, constructive and rigorous debating, and dispassionate
decision-making in the interest of the Bank;
Willingness to stand up and defend their own views, beliefs and opinions for
the ultimate good of the Bank; and
A good understanding of the Banks business activities in order to
appropriately provide responses to the various strategic and technical issues
confronted by the Board.
Roles and Responsibilities of the Board (Recommendation 1.2 of the MCCG 2012)
The business and afairs of the Bank and the Group are managed under the
direction and oversight of the Maybank Board, which also has the responsibility to
periodically review and approve the overall strategies, business, organisation and
signifcant policies of the Bank and the Group.
Further, the Board also sets the Groups core values, adopts proper standards to
ensure that the Bank operates with integrity, and complies with the relevant rules
and regulations.
The Board has a formal schedule of matters reserved for its decision which
include, amongst others, the following:
Reviewing and approving the strategies and business plans for the Bank and
Group;
Identifying and managing principal risks afecting the Group including
establishing and approving the relevant policies for the prevention of money
laundering, and anti-competitive practices;
Reviewing the adequacy and integrity of the Groups internal control
systems;
Overseeing the conduct and the performance of the Groups businesses;
Reviewing succession planning and talent management plans for the Group,
and approving the appointment and compensation of senior management
staf;
Approving new policies pertaining to boardroom diversity, staf salary and
benefts;
Approving changes to the corporate organisation structure;
Approving the appointment of Directors and Directors emoluments and
benefts in accordance with relevant statutes;
Approving policies relating to corporate branding, public relations, investor
relations and shareholder communication programmes; and
Reviewing the Groups strategies on promotion of sustainability focusing on
environmental, social and governance (ESG) aspects (Recommendation 1.4 of
the MCCG 2012).
Other than as specifcally reserved to the Board in the Boards Terms of Reference,
as documented in the Manual, responsibility for managing Maybanks business
activities is delegated to the Group President & Chief Executive Ofcer (Group
PCEO) of the Bank, who is accountable to the Board.
Board Composition and Balance
There are currently 11 Directors on the Maybank Board. Eight are Independent
Non-Executive Directors, two are Non-Independent Non-Executive Directors
(nominees of Permodalan Nasional Berhad (PNB)) and one is a Non-Independent
Executive Director (the Group PCEO) (Principle 3, Recommendation 3.5 of the
MCCG 2012).
The present composition of the Board is in compliance with Chapter 15.02 of the
Listing Requirements as more than half of its members are Independent Directors
(Principle 2, Recommendation 2.1 of the MCCG 2012).
The Directors provide a wealth of knowledge, experience and skills in the key
areas of accountancy, law, securities, international business operations and
development, fnance and risk management, amongst others. A brief profle of
each member of the Board is presented on pages 134 to 139 of this Annual Report.
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Directors Independence Policy
The Groups Directors Independence Policy summarises Maybanks approach
in determining directors independence. It provides a guideline for the Board
and its related Licensed Subsidiaries in the assessment of independence of each
Independent Director.
Consistent with the Groups Policy on Directors Independence and
Recommendation 3.1 of the MCCG 2012, the Board via the NRC assesses
the independence of Independent Directors upon his/her appointment, re-
appointment and in any event, annually.
The NRC undertakes the independence assessment via the Board and Peer
Annual Assessment as well as Fit and Proper Assessment exercises taking into
accounts the directors skills, experience, contributions, background, economic
and family relationships, tenure of directorship and the Independent Directors
self-declaration on their compliance with the independence criteria under
the BNM/GP1, Listing Requirements as well as the Banks Policy on Directors
Independence.
The NRC determines the ability of the Independent Director to continue bringing
independent and objective judgment to the board deliberations as well as
considers if there is any ground or reason that has come to the attention of the
NRC that may afect the independence status of the Independent Directors of
Maybank.
The Board considers that the eight Independent Non-Executive Directors (NEDs),
namely Dato Mohd Salleh Hj Harun, Tan Sri Datuk Dr Hadenan A. Jalil, Dato Seri
Ismail Shahudin, Dato Dr Tan Tat Wai, Dato Johan Arifn, Mr Cheah Teik Seng,
Datuk Mohaiyani Shamsudin, and Mr Erry Riyana Hardjapamekas meet the said
independence criteria under the BNM/GP1, Listing Requirements as well as the
Banks Policy on Directors Independence.
Senior Independent Non-Executive Director
In accordance with the best practices in corporate governance, Tan Sri Datuk Dr
Hadenan A. Jalil continues to play his role as the Senior Independent Director
(SID) of the Board to whom concerns of shareholders and stakeholders may be
conveyed.
He is responsible for addressing concerns that may be raised by the shareholders.
Tan Sri Datuk Dr Hadenan A. Jalil is also the Chairman of the Audit Committee of
the Board and a member of the Nomination and Remuneration Committee.
He can be contacted at his email address: [email protected].
Board Appointment Process (Principle 2, Recommendation 2.2 of the MCCG
2012)
A formal and transparent procedure exists vis--vis the appointment of new
Directors to the Board, the primary responsibility of which has been delegated
to the Nomination and Remuneration Committee (NRC). Such responsibilities
include screening, conducting initial selection of internal and external
candidates, performing requisite evaluation and assessment on the candidates
ability to discharge their duties efectively and efciently, prior to making
recommendations to the Board for its approval. The NRC also ensures candidates
possess the appropriate skills, core competencies, experience, integrity and time
to efectively discharge his or her role as a director.
This procedure is in line with the Groups Fit and Proper Policy which has been
in force since August 2006 and recently revised and amended to incorporate the
new provisions as required under the FSA, BNM Guidelines on Fit and Proper
Criteria and BNM/GP1. In accordance with this procedure, the NRC recommends
to the Board suitable candidates for directorships and the appointment of key
senior management of Maybank and relevant subsidiaries.
The Fit and Proper Policy, which sets out the attributes and qualifcations
required of a candidate to determine his/her suitability, include amongst others,
requirements in respect of his/her management and leadership experience, which
has to be at the most senior level in a reputable local or international fnancial
services group, public corporation or professional frm/body. In relation to the
candidates skills, expertise and background, the candidate should ideally and
to the extent available, possess a diverse range of skills, including in particular,
business, legal and fnancial expertise, professional knowledge and fnancial
industry experience, as well as experience in regional and international markets.
The following aspects would be considered by the Board in making the selection,
with the assistance of the NRC:-
1. Probity, personal integrity and reputation the person must have key
qualities such as honesty, integrity, diligence, independence of mind and
fairness.
2. Competence and capability the person must have the necessary skills,
ability and commitment to carry out the role.
3. Financial integrity the person must manage his debts or fnancial afairs
prudently.
The Fit and Proper Policy assists in identifying the gaps in skills in the composition
of the Board. The Policy outlines the requirement for Non-Executive Directors of
Maybank who have reached the age of 70 and above, and those who have served
the Board for 12 years or more to submit their resignation letters annually to
the NRC six months before the Annual General Meeting (AGM), for appropriate
recommendations to be made to the Board.
Additionally, in line with the Recommendations 3.2 and 3.3 of the MCCG, the
tenure of service for Independent Directors has been capped at the maximum
of nine years and upon completion of the nine years tenure, the Independent
Director may continue to serve on the Board subject to re-designation as Non-
Independent Director. In exceptional circumstances, the shareholders may
decide that an Independent Director can remain beyond the cumulative term of
nine years, subject to the NRCs assessment, Boards recommendation as well
as strong justifcation be provided to the shareholders at a general meeting. The
Board noted that currently none of its independent members has reached the
nine years cumulative term in Maybank.
Identifcation of
candidates
Evaluation of
suitability of
candidates
Meeting up
with candidates
Final deliberation
by NRC
Recommendation
to Board
The Policy on the Nomination Process for the Appointment of Chairman, Director and CEO of Licensed Institutions in the Group (Policy on Nomination Process) sets out
a clear and transparent nomination process of the same, which involves the following fve stages:-
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The application for the appointment of such candidates is thereafter submitted
to BNM for the requisite approval under the Financial Services Act 2013 (FSA) or
the Islamic Financial Services Act (IFSA) (whichever applicable), subject to the
approval of the relevant boards in the Group.
The appointment process for Executive Directors is similarly robust, in order to
ensure that the best person is picked for the top executive position in the interest
of the Group. The process includes the identifcation of potential candidates (both
internal as well as external) by a special committee of the Board, governed by the
expectation of the roles and capabilities described and required by the Board. This
process includes interviews, which are subsequently followed by a submission to
the NRC for deliberation and thereafter the fnal recommendation to the Board
for endorsement, and ultimately submission to BNM for approval. During the
year, the Board approved the appointment of Datuk Abdul Farid Alias as a Non-
Independent Executive Director/Group PCEO replacing Dato Sri Abdul Wahid
Omar who left to join the Government as a Minister.
The Bank also conducts annual assessments on the suitability of the Directors
to continuously occupy their strategic leadership position subsequent to the
appointment process, in accordance with the Groups Fit and Proper Policy
and in line with BNM Guidelines on Fit and Proper Criteria and BNM/GP1. The
ft and proper assessment involves self declaration by the Directors as well as
independent checks on their business interests in compliance with section 59 of
FSA, section 68 of IFSA (where applicable) and BNM/GP1 to ensure the suitability
of the Directors to continue to serve as directors of the Bank.
Directors Retirement and Re-election
All directors of the Bank, including the Group PCEO as an Executive Director,
are subject to re-election by the shareholders at the frst opportunity after their
appointment, and are subject to retirement by rotation at least once every three
years in accordance with the Listing Requirements and Articles 96 and 97 of the
Banks Articles of Association. The Boards support for a Directors re-election is
not automatic and is subject to satisfactory assessment of performance.
The NRC will frst assess the Directors who are due for re-election at the AGM and
will then submit its recommendation to the Board for deliberation and approval.
Upon obtaining the Boards endorsement, the relevant submission including the
justifcations for such re-appointment is thereafter made to BNM for approval if
the relevant Directors BNMs term of appointment is expiring.
Dato Dr Tan Tat Wai and Mr Cheah Teik Seng who are due for retirement and
seeking re-election at the forthcoming AGM pursuant to Articles 96 and 97 of
the Banks Articles of Association, as evaluated by the NRC and approved by
the Board, have met the Boards expectations and continued to perform in an
exemplary manner as demonstrated by inter alia their contribution to the Boards
deliberations. En Zainal Abidin bin Jamal who is also due for retirement pursuant
to Article 96 has however expressed his intention not to seek re-election at the
AGM.
Datuk Abdul Farid Alias was appointed as the Non-Independent Executive
Director/Group PCEO efective 2 August 2013 and should retire at the AGM
pursuant to Article 100 of the Banks Articles of Association. Datuk Abdul Farid
Alias is seeking re-election at the AGM.
Board and Individual Directors Efectiveness
Upon the completion of every fnancial year, the NRC undertakes a formal and
transparent process to assess the efectiveness of individual Directors, the
Board as a whole and its committees, as well as the performance of the Group
PCEO (based on his Balanced Scorecard) in respect of their respective skills and
experience, pursuant to the Board and Peer Annual Assessment exercise.
The Board and Peer Annual Assessment exercise is primarily based on answers to
a detailed questionnaire prepared internally by Group Corporate & Legal Services
of Maybank taking into account applicable best practices. The assessment
questionnaire is distributed to all the respective Board members and covers
topics which include, amongst others, the responsibilities of the Board in relation
to strategic planning, risk management, performance management, fnancial
reporting, audit and internal process, human capital management, corporate
social responsibility, communication, corporate governance, and shareholders
interest and value. Other areas being assessed include Board composition and
size, the contribution of each and every member of the Board at meetings, the
Boards decision-making and output, information and support rendered to the
Board as well as meeting arrangements.
Actionable improvement programmes will be identifed, upon review of the
results of the Board and committee assessment by the NRC and the Board. Such
programmes may include training needs of individual Directors, to be reviewed
half-yearly thereafter. The Chairman of the Board and the Chairman of the NRC
discuss with individual members on areas of performance improvement.
Having considered its composition, calibre and diversity, the Board must be
satisfed that it will continue to ensure an efcient and efective conduct
of deliberations pursuant to BNM/GP1. The current Board size enables the
Board to discharge its function in a professional manner in consideration of
the composition, breadth and complexity of the Groups business activities,
domestically and internationally. Future changes to the Board may be made to
enhance complementarity of skills and at the same time enable proper succession
planning.
As ever, the Chairman tries to ensure that the Boards decisions are reached by
consensus (and failing this, refect the will of the majority), and any concern or
dissenting view expressed by any Director on any matter deliberated at meetings
of the Board, or any of its Committees, as well as the meetings decisions, will
accordingly be addressed and duly recorded in the relevant minutes of the
meeting.
Role and Responsibilities of the Chairman and the Group President &
Chief Executive Ofcer (Principle 1, Recommendation 1.1 and Principle 3,
Recommendation 3.4 of the MCCG 2012)
The roles and responsibilities of the Chairman and the Group PCEO are separated
with a clear division of responsibilities, defned, documented and approved by the
Board, in line with best practices so as to ensure appropriate supervision of the
Management. This distinction allows for a better understanding and distribution
of jurisdictional responsibilities and accountabilities. The clear hierarchical
structure with its focused approach and attendant authority limits also facilitates
efciency and expedites informed decision-making.
Chairman
Tan Sri Dato Megat Zaharuddin Megat Mohd Nor is the Chairman of Maybank.
Prior to his appointment as the Chairman of Maybank on 1 October 2009, he
was an Independent Non-Executive Director of Maybank from July 2004 until
February 2009. He has never assumed an executive position in Maybank.
Previously, he had also chaired two other public listed companies, namely Shell
Refning Company Berhad and Maxis Communications Berhad.
The Chairman leads the Board and is also responsible for the efective
performance of the Board. He continuously works together with the rest of
the Board in setting the policy framework and strategies to align the business
activities driven by the senior management with the Groups objectives and
aspirations, and monitors its implementation, and also ensures orderly conduct
and proceedings of the Board, where healthy debate on issues being deliberated
is encouraged to refect an appropriate level of scepticism and independence.
He takes the lead to ensure the appropriateness and efectiveness of the
succession planning programme for the Board and senior management levels. He
also promotes a healthy working relationship with the Group PCEO and provides
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the necessary support and advice as appropriate. He continues to demonstrate
the highest standards of corporate governance practices and ensures that these
practices are regularly communicated to the stakeholders.
The Group President & CEO
Datuk Abdul Farid Alias has been the Group PCEO and Executive Director of
Maybank since 2 August 2013 (prior to which, Dato Sri Abdul Wahid Omar was
the PCEO).
Datuk Farid has been delegated certain responsibilities by the Board in his
capacity as Group PCEO and is primarily accountable for overseeing the day-
to-day operations to ensure the smooth and efective running of the Group.
Furthermore, he is responsible for mapping the medium to longer term plans for
Board approval, and is accountable for implementing the policies and decisions
of the Board, as well as coordinating the development and implementation
of business and corporate strategies, specifcally by making sure that they
are carried through to their desired outcomes, especially in the institution of
remedial measures to address identifed shortcomings. He is also responsible
for developing and translating the strategies into a set of manageable goals and
priorities, and setting the overall strategic policy and direction of the business
operations, investment and other activities based on efective risk management
controls.
The Group PCEO ensures that the fnancial management practice is performed at
the highest level of integrity and transparency for the beneft of the shareholders
and that the business and afairs of the Bank are carried out in an ethical manner
and in full compliance with the relevant laws and regulations.
The Group PCEO is also tasked with ensuring that whilst the ultimate objective
is maximising total shareholder return, social and environmental factors are
not neglected, and also developing and maintaining strong communication
programmes and dialogues with the shareholders, investors, analysts as well as
employees, and providing efective leadership to the Group organisation. He
is also responsible for ensuring high management competency as well as the
emplacement of an efective management succession plan to sustain continuity
of operations. The Group PCEO, by virtue of his position as a Board member, also
functions as the intermediary between the Board and senior management.
Board Meetings
The Board meets every month with additional meetings convened as and when
urgent issues and/or important decisions are required to be addressed between
the scheduled meetings. During the fnancial year ended 31 December 2013, the
Board met 15 times to deliberate and consider a variety of signifcant matters that
required its guidance and approval.
All Directors have complied with the requirement that Directors must attend at
least 75% of Board meetings held in the fnancial year in accordance with BNM/
GP1, and attended at least 50% of Board meetings held in the fnancial year ended
31 December 2013 pursuant to the Listing Requirements.
The current practice is to appoint Board members to sit on subsidiary boards,
in particular those of the key overseas subsidiaries, to maintain oversight and
ensure the operations of the respective subsidiaries are aligned with the Groups
strategies and objectives. Moving forward, more of the key members of the
Group Executive Committee shall also have requisite membership on subsidiary
level boards to further ensure that the Groups governance remains linked with
strategic and operational focus in line with Maybanks corporate aspirations and
expanding regional footprint.
Details of attendance of each Director on the Board and respective Board Committees of the Bank during the fnancial year ended 31 December 2013 are as follows:

Board
Number of Meetings
CRC
Number of Meetings
ACB
Number of Meetings
Name of Directors Held Attended % Held Attended % Held Attended %
Tan Sri Dato Megat Zaharuddin bin
Megat Mohd Nor
15 14 93
Dato Mohd Salleh bin Hj Harun 15 15 100
Datuk Abdul Farid bin Alias
1
7 7 100 5 3 60
Dato Sri Abdul Wahid bin Omar
2
6 6 100 18 16 89
Tan Sri Dr Hadenan bin A. Jalil 15 15 100 14 14 100
Dato Seri Ismail bin Shahudin 15 14 93 25 19 76
Dato Dr Tan Tat Wai 15 15 100
En Zainal Abidin bin Jamal 15 15 100 25 20 80
Mr Alister Maitland
3
4 4 100
Mr Cheah Teik Seng 15 14 93 14 14 100
Dato Johan bin Arifn 15 14 93 25 18 72 14 14 100
Datuk Mohaiyani binti Shamsudin 15 14 93 25 20 80
Bp Erry Riyana Hardjapamekas 15 15 100 14 13 93
Notes:
* All Board and Board Committee members had met the minimum percentage required for meeting attendance. For the CRC, the requirement is a minimum of 60% attendance during any fnancial year.
1 Appointed as a member of the Board of Directors and the CRC with efect from 2 August 2013.
2 Resigned from the Board of Directors (as well as the CRC) at the close of business on 4 June 2013.
3 Retired as a member of the Board of Directors (also resigned from the RMC, NRC and ESS) with efect from 28 March 2013.
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Directors Remuneration (Principle 2, Recommendation 2.3 of the MCCG 2012)
The Board believes that one area that the Board needs to focus on in order to
remain efective in the discharge of its duties and responsibilities is the setting
of a fair and comprehensive remuneration package that commensurates with the
expertise, skills, responsibilities and the risks of being a director of a fnancial
institution.
The determination of remuneration packages for Non-Executive Directors (NEDs)
including the non-executive Chairman is a matter for the Board as a whole
following the relevant recommendation made by the NRC after independent
benchmarking with relevant external peers.
The component parts of remuneration of the Executive Director are structured so
as to link short and long-term rewards to corporate and individual performance.
A signifcant portion of the Executive Directors compensation package has been
made variable in nature depending on the Groups performance during the year,
which is determined based on the individual Key Performance Indicators and a
scorecard aligned with the corporate objectives, and approved by the Board.
In line with good corporate governance, the Board has set out its intention
to periodically review the NEDs remuneration for Maybank and its group of
A summary of the total remuneration of the Directors, distinguishing between Executive and Non-Executive Directors, in aggregate with categorisation into appropriate
components for the fnancial year ended 31 December 2013 is as follows:
Salary
(RM)
Bonus
(RM)
Directors
Fees
(RM)
Other
Emoluments
(RM)
Benefts in
kind
(RM)
ESS
(RM)
Total
(RM)
Executive Director
Datuk Abdul Farid bin Alias
1
645,806 812,055 323,798 3,148 1,784,807
Dato Sri Abdul Wahid bin Omar
2
718,667 1,574,752 1,324,760 18,719 14,971 3,651,869
TOTAL 1,364,473 2,386,807 1,648,558 21,867 14,971 5,436,676
Non-Executive Directors
Tan Sri Dato Megat Zaharuddin bin Megat Mohd Nor 300,000 571,000 39,820 910,820
Dato Mohd Salleh bin Hj Harun 375,000 41,500 34,047 450,547
Tan Sri Dr Hadenan bin A. Jalil 295,000 55,500 2,822 353,322
Dato Seri Ismail bin Shahudin 240,083 41,000 375 281,458
Dato Dr Tan Tat Wai 295,000 49,500 200 344,700
Encik Zainal Abidin bin Jamal 280,000 61,500 2,283 343,783
Mr Cheah Teik Seng 250,000 44,000 2,972 296,972
Dato Johan bin Arifn 250,000 54,000 3,524 307,524
Datuk Mohaiyani binti Shamsudin 220,000 42,000 50 262,050
Mr Erry Riyana Hardjapamekas 220,000 35,500 50 255,550
Mr Alister Maitland
3
70,000 12,000 175 82,175
TOTAL 2,795,083 1,007,500 86,318 3,888,901
GRAND TOTAL 1,364,473 2,386,807 2,795,083 2,656,058 108,185 14,971 9,325,577
Notes:-
1. Appointed as an Executive Director/Group PCEO with efect from 2 August 2013.
2. Resigned as an Executive Director/PCEO at the close of business on 4 June 2013.
3. Retired as a Non-Executive Director with efect from 28 March 2013.
Executive Directors Other Emoluments include pension costs, allowances, retirement gratuity and reimbursements. Benefts in kind (BIK) for NEDs include golf club membership whilst the BIK for the Chairman and Vice
Chairman include a driver, car and fuel allowance. No ESS has been ofered to Datuk Abdul Farid Alias after his appointment as the Executive Director/Group PCEO of Maybank on 2 August 2013. However, there were ESS
expenses incurred for the period from 2 August 2013 to 31 December 2013 relating to ESOS and RSU granted to Datuk Abdul Farid Alias prior to his appointment as the Executive Director/Group PCEO of Maybank.
companies at least once every three years. The existing remuneration framework
was approved by the Board and the shareholders at the 50
th
AGM of Maybank
held in 29 September 2010. Internal Initiatives, driven by Group Corporate
and Legal Services are also undertaken to continuously validate the existing
remuneration framework.
At the Extraordinary General Meeting of Maybank held on 13 June 2011 (EGM),
its shareholders had approved the Employees Share Scheme (ESS) which
provides for the ofer and grant of options to eligible employees. The EGM
had also approved the allocation of options and/or grant of Maybank Shares
to the former PCEO, to subscribe up to a maximum of 5,000,000 Maybank
Shares. Consequential to the appointment of Datuk Abdul Farid Alias as the new
Executive Director/Group PCEO on 2 August 2013, the resolution to seek the
shareholders approval on the ofer and grant of options of Maybank Shares to
him will also be tabled at the forthcoming AGM.
The number of shares to be ofered to the Executive Director/Group PCEO, being
an eligible employee, under the ESS will be based on both the Banks and his own
performance achievement at the end of the fnancial year, as specifed in the
Group/GPCEO Balanced Score Card.
The NEDs are not eligible to participate in the current ESS.
RMC
Number of Meetings
NRC
Number of Meetings
ESS Committee
Number of Meetings
Name of Directors Held Attended % Held Attended % Held Attended %
Dato Mohd Salleh bin Hj Harun 12 12 100 5 5 100
Tan Sri Dr Hadenan bin A. Jalil 12 12 100 5 5 100
Dato Seri Ismail bin Shahudin
4

Dato Dr Tan Tat Wai 9 9 100 12 11 92 5 5 100
Encik Zainal Abidin bin Jamal 12 12 100 5 5 100
Mr Alister Maitland 1 1 100 3 3 100 1 1 100
Mr Cheah Teik Seng 9 9 100
Notes:
4
Appointed as a member of the RMC with efect from 31 October 2013.
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Quality and Supply of information to the Board (Recommendation 1.5 of the
MCCG 2012)
In the efective discharge of its duties, the Board has full and unrestricted access
to all information pertaining to the Banks businesses and afairs as well as to
the advice and services of the senior management of the Group. In addition
to formal Board meetings, the Chairman maintains regular contact with the
Group PCEO to discuss specifc matters, and the latter assisted by the Company
Secretary ensures that frequent and timely communication between the senior
management and the Board is maintained at all times as appropriate.
The Board is regularly kept up to date on and apprised of any regulations
and guidelines, as well as any amendments thereto issued by Bank Negara
Malaysia, Bursa Malaysia, Securities Commission, the Companies Commission of
Malaysia and other relevant regulatory authorities including recommendations
on corporate law reform in respect of Malaysian as well as relevant foreign
jurisdictions, particularly the efects of such new or amended regulations and
guidelines on directors specifcally, and the Bank and the Group generally.
The Annual Board Outline Agenda serves as a mechanism to highlight to the
Board and relevant Board Committees as well as the senior management subject
matters other than routine for the period to facilitate better planning and
for greater time efectiveness for various parties. It also gives a greater sense
of discipline on the part of senior management to commit to the said outline.
Concurrently, such focus allows the Board to deliberate on and contribute
towards achieving a higher level of value-added discussions on such identifed
issues and other relevant matters. In response to technological advancement in
the digital space, Management has taken the initiatives to implement paperless
board meeting where board papers are uploaded onto a secured platform, namely,
BoardPAC and accessible via tablet devices.
An agenda together with appropriate papers for each agenda item to be discussed
is forwarded to each Director at least fve clear days before the scheduled meeting
to enable the Directors to review the papers in preparation for the meeting, and
to obtain further clarifcation or explanation, where necessary, in order to be
adequately apprised before the meeting.
Additionally, the Banks minutes of meetings of the Board and various Board
Committees incorporate the discussions of the members at the meetings in arriving
at decisions and are concise and accurate. The draft minutes of the meeting are
circulated within one week of the meetings to the Board for early feedback and
suggestions prior to tabling at the subsequent meetings for formal confrmation.
Senior management members are invited to attend Board meetings to report
on matters relating to their areas of responsibility, and also to brief and
present details to the Directors on recommendations submitted for the Boards
consideration. Additional information or clarifcation may be required to be
furnished, particularly in respect of complex and technical issues tabled to the
Board. In order to ensure the quality of board papers are of the highest quality
and prepared in accordance with best practice requirements and within the
expectations of the Board, Directors are given an avenue to provide written
feedback during each Board meeting to rate the quality of the papers and that of
the session discussing the papers.
Company Secretary
The Group General Counsel and Company Secretary, in his function as the
Company Secretary, is responsible for advising the Board on issues relating to
corporate compliance with the relevant laws, rules, procedures and regulations
afecting the Board and the Group, as well as best practices of governance. He
is also responsible for advising the Directors of their obligations and duties
to disclose their interest in securities, disclosure of any confict of interest
in a transaction involving the Bank, prohibition on dealing in securities
and restrictions on disclosure of price-sensitive information (Principle 1 and
Recommendations 1.6 of the MCCG 2012). All Directors have access to the advice
and services of the Company Secretary and the Board Satisfaction Index acts as
an evaluation mechanism on the support and services provided by the Company
Secretary to the Board during the fnancial year.
Board Satisfaction Index (BSI)
The BSI, conducted annually, demonstrates an important initiative to ensure
continuing adequate support is provided by the Company Secretary to the Board,
to assist Directors in discharging their duties efectively. The BSI exercise was
conducted in December 2013 for the fnancial year ended 31 December 2013.
The areas of assessment cover transactional and operational efciency, which
includes the quality of the minutes of the Board and Board Committees, of papers
and meeting arrangements, and of training and knowledge management, as well
as advisory services on matters concerning Directors duties, such as disclosure of
interests and prohibition against trading. Based on feedback received from Board
members, the Board was generally satisfed with the support provided for the year
under review and several areas were identifed for further improvement.
Independent Professional Advice
Independent professional advice can be obtained by any Individual Directors,
at the Banks expense where necessary, in the furtherance of their duties in
accordance with the Banks Policy and Procedure on Access to Independent
Professional Advice, Senior Management and Company Secretary by Directors of
Maybank Group. Copies of any reports, advice and recommendations provided by
the independent professional adviser to the relevant Director would be forwarded
by the said Director to the Company Secretary, who will, where appropriate,
circulate them to other Directors to ensure that they are kept informed of
pertinent issues, which may have an impact on the Groups interest, growth and
performance(Recommendation 1.5 of the MCCG 2012).
During the fnancial year ended 31 December 2013, an independent consultant
was appointed to undertake a review of the Non-Executive Directors
Remuneration.
Directors Training
The Board recognises the importance of continuing education for its Directors to
ensure they are equipped with the necessary skill and knowledge to perform their
functions and meet the challenges of the Board.
Through a Structured Training Programme for Directors (STPD), each Director
shall attend at least one training programme, which is to be specifcally developed
by the organisation for its Directors during the fnancial year (Recommendation
4.2 of the MCCG 2012).
For the year under review, all the Board members complied with the aforesaid
internal policy by attending various training programmes and workshops on issues
relevant to the Group, which were organised internally, as well as in collaboration
with external training providers. The Board members have attended a key training
programme for Directors of fnancial institutions, namely the Financial Institutions
Directors Education (FIDE) which had commenced in 2010. Additionally, Maybank
Group is a registered corporate member of the FIDE Forum since 2012, which
was established with the aim of allowing FIDE alumni members to become
leading infuencers of governance practices and thought leaders within fnancial
institutions, and to beneft from, amongst others, the roundtree discussions, and
industry update sessions and materials provided by subject matter specialists. For
further details on the FIDE Forum, please refer to www.fde.org.my.
A comprehensive induction programme for new Directors is coordinated by
Group Corporate & Legal Services to provide new Directors with the necessary
information and overview to assist them in understanding the Groups operations
and appreciating the challenges and issues the Group faces in achieving its
objectives. The programme covers subject matters, amongst others, concerning
the Groups business and strategy, work processes and Board Committees, and
the duties and responsibilities of Directors of licensed institutions.
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The Board continues to assess the training needs of its Directors vide the Board
Assessment and identify key areas of focus for training programmes.
Trainings programmes, conferences and forums attended by the Directors for the
fnancial year ended 31 December 2013 were as follows:
FIDE/ICLIF
- FIDE Elective Program: Board IT Governance and Risk Management Program
- Bursa/ICLIF Board Chairman Series: The Role of the Board Chairman
- Leadership Energy Summit Asia
- FIDE Forum - Dialogue on FSA & IFSA
External Seminars/Conferences
- IFSB-INCEIF Executive Forum on Islamic Finance
- Islamic Financial Services Board (IFSB)'s 10
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Annual Summit
- Mandatory Accreditation Programme
- 9
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World Islamic Economic Forum (WIEF)
- Advanced Management Program Harvard Business School
- Fundamentals of Asia Catastrophe Pool (ACP) and Asia Agriculture Pool (AAP)
- Financial Sector Talent Enrichment Programme (FSTEP) - Prominent Leaders
Session
- PwC Board Agenda Series: Board & Strategy, Where Are We
- Dinner Talk: McKinsey & TalentCorp Advancing Women to the Top of
Organisation
- Khazanah Megatrends 2013
- World Capital Market Symposium: Financial Leaders on the Future of Finance
- 20 Conversations @ Harvard
Maybank Internal Training
- Maybank Group Directors Training
- Annual Risk Workshop
- Shariah Governance Framework in Islamic Finance
- The Guru Series - Defning the New Normal Capitalism 2030: Leveraging on
Islamic and Humanising Principles by Lord Hastings
- The Guru Series - The Doctor is in Our House A Learning Engagement with YAB
Tun Dr Mahathir Mohamad
Group Corporate and Legal Services had successfully organised the inaugural
Maybank Group Directors training on 22 November 2013 at Grand Hyatt.
The said programme was attended by 49 Directors representing Maybank as
well as operating subsidiaries within the Group. The topics presented at the said
programme were related to:
- Overview/Update on the Groups Business Plan and Budget 2014
- Risk Culture
- IT Transformation and Strategic IT Initiatives
- Talent Management and Succession Planning
As at the end of the fnancial year ended 31 December 2013, all Directors are in
adherence to the Mandatory Accreditation Programme, in compliance with the
Listing Requirements.
Apart from attending the various training programmes, a number of the Directors
have also been invited to speak at conferences and seminars organised by
regulatory bodies and professional associations.
BOARD PROFESSIONALISM
Directorships in Other Companies
In compliance with the Listing Requirements and consistent with the best
practices recommendations of the Green Book, each member of the Maybank
Board holds not more than fve directorships in public listed companies to
enable the Directors to discharge their duties efectively by ensuring that their
commitment, resources and time are more focused.
Whilst the Board values the experience and perspective gained by the Non-
Executive Directors from their memberships on the boards of other companies,
organisations, and associations, the Board Manual provides since 2010 that the
Non-Executive Directors must frst consult the Chairman to ensure that their
acceptance of such other appointments, such as directorships of other listed
companies, would not unduly afect their time commitments and responsibilities
to the Maybank Board and Group (Recommendation 4.1 of the MCCG 2012).
The NRC assesses the independence of the Independent Non-Executive Directors
who hold directorships in licensed subsidiaries in the Maybank Group, pursuant
to a declaration made that they are not taking instructions from any person
including Maybank (Recommendation 3.1 of the MCCG 2012). In this respect, all
the Independent Non-Executive Directors of Maybank complied with the relevant
requirements of BNM/GP1. In addition, the respective key subsidiaries within
the Group also appoint other Independent Non-Executive Directors who are not
members of the Maybank Board to ensure an optimal balance between board
members in terms of independent internal and external directors.
Confict of Interest
It has been the practice of Maybank to require that members of the Board make
a declaration at the Board meeting in the event that they have interests in
proposals being considered by the Board, including where such interest arises
through close family members, in line with various statutory requirements on
the disclosure of Directors interest. In all situations where the Directors could
be deemed as interested, they would excuse themselves from the discussion and
leave the meeting room. The minutes of meeting would also refect as such.
Insider Trading
Directors, key management personnel and principal ofcers of the Maybank
Group are prohibited from trading in securities or any kind of property based
on price sensitive information and knowledge, which has not been publicly
announced, in accordance with the Listing Requirements and the relevant
provisions of the Capital Markets & Services Act 2007. Notices on the closed
period for trading in Maybanks securities are circulated to Directors, key
management personnel and principal ofcers who are deemed to be privy to any
price sensitive information and knowledge, in advance of whenever the closed
period is applicable.
BOARD COMMITTEES
The Board delegates certain of its governance responsibilities to Board
Committees, which operate within clearly defned terms of references, primarily
to assist the Board in the execution of its duties and responsibilities. Although
the Board has granted such discretionary authority to these Board Committees
to deliberate and decide on certain key and operational matters, the ultimate
responsibility for fnal decision on all matters lies with the entire Board. The
Chairmen of the Board Committees will table and present a report on the
activities of the respective Board Committees at the monthly Board meetings.
The Board Committees are as follows:-
1. Audit Committee
2. Credit Review Committee
3. Nomination and Remuneration Committee
4. Risk Management Committee
5. Employees Share Scheme Committee
Audit Committee
The Audit Committee is authorised by the Board to investigate any activities
within its Terms of Reference and has unrestricted access to both the internal
and external auditors and members of the senior management of the Group. The
activities carried out by the Audit Committee, which met 14 times during the
year under review, are summarised in the Audit Committee Report and its Terms
of Reference as stated on page 162 of this Annual Report. Members of the Audit
Committee are as indicated on page 162 of this Annual Report.
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Credit Review Committee
The responsibilities of the Credit Review Committee include, amongst others, the
following:
1. To review/veto loans exceeding the Group Management Credit Committee
(GMCC)s discretionary power;
2. To review/veto, with power to object or support, all proposals recommended
by the GMCC to the Board for approval/afrmation;
3. To review/veto, with power to object or support, all global limits (and any
increase thereto), recommended by the GMCC to the Board for approval.
To also afrm annually existing global limits approved by the Board and
recommended by the GMCC for renewal;
4. To carry out such other responsibilities as may be delegated to it by the Board
from time to time; and
5. To provide oversight of the entire credit management function covering but
not limited to portfolio, end-to-end process, infrastructure, resources and
governance.
The Committee meets monthly since May 2013 and met 25 times during the
fnancial year ended 31 December 2013. Members of the Credit Review Committee
and details of meeting attendance by members are stated on page 151 of this
Annual Report.
Nomination and Remuneration Committee (NRC)
The NRC comprises exclusively Non-Executive Directors, the majority of whom
are independent and presently chaired by the Independent Vice Chairman of
Maybank (Principle 2, Recommendations 2.1 and 2.3 of the MCCG 2012).
The responsibilities of the NRC include, amongst others, the following:
1. To recommend to the Maybank Board, the appointment, promotion
and remuneration as well as compensation policies for executives in key
management positions;
2. To recommend to the Maybank Board, a Leadership Development framework
for the Group;
3. To oversee the selection of Directors and general composition of the Maybank
Board (size, skill and balance between Executive Directors and Non-Executive
Directors);
4. To recommend to the Maybank Board, a policy and framework for
remuneration of Directors, covering fees, allowances and benefts-in-kind in
respect of their work as Directors of all boards and committees and for the
PCEO and key senior management ofcers;
5. To recommend to the Maybank Board a policy regarding the period of service
for the Executive and Non-Executive Directors;
6. To assess the performance and efectiveness of individuals and collective
members of the Boards and Board Committees of the Group and its
subsidiaries, as well as the procedure for the assessment;
7. To recommend measures to upgrade the efectiveness of the Boards and Board
Committees;
8. To recommend to the Maybank Board a performance management framework/
model, including the setting of the appropriate performance target parameters
and benchmark for the PCEOs Group Balanced Scorecard at the start of each
fnancial year;
9. To oversee the succession planning, talent management and performance
evaluation of executives in key management positions;
10. To consider and recommend solutions to issues of confict of interest afecting
Directors;
11. To assess annually that Directors, key responsible persons and Company
Secretary are not disqualifed under subsection 59(1) of Financial Services Act,
2013; and
12. To review the training requirements and programmes for the Directors.
Summary of the main activities in 2013 are amongst others as follows:
1. Re-election and retirement of Directors at Annual General Meetings;
2. Annual Board Assessment;
3. Fit and Proper Assessment of Directors and senior executives;
4. Establishment of Board of Directors and Committees for Maybanks
subsidiaries;
5. Appointment and reappointment of Shariah Committee members;
6. Non-Executive Directors Remuneration Review;
7. Review of Group Structure and EXCO re-organisation ;
8. Annual Performance and Compensation Review for senior executives;
9. Appointments of the Groups executives to key management positions within
the Group;
10. Review of Talent Management initiatives;
11. Total Rewards Implementation Review;
12. Review of policies applicable to senior executives;
13. Women directors mini lab recommendations for GLC/GLIC; and
14. Credit competency programme.
The NRC held 12 meetings during the fnancial year ended 31 December 2013.
Members of NRC and details of meeting attendance by members are stated on
page 152 of this Annual Report.
Risk Management Committee (RMC)
The roles and responsibilities of the Risk Management Committee for risk
oversight include the following:
1. To review and approve risk management strategies, risk frameworks, risk
policies, risk tolerance and risk appetite limits;
2. To review and assess adequacy of risk management policies and framework
in identifying, measuring, monitoring and controlling risks and the extent to
which they operate efectively;
3. To ensure infrastructure, resources and systems are in place for risk
management, i.e. ensuring that the staf responsible for implementing risk
management systems perform those duties independently of the fnancial
institutions risk taking activities; and
4. To review managements periodic reports on risk exposure, risk portfolio
composition and risk management activities.
The specifc duties of the Risk Management Committee in managing risks cover
the following:
1. To review the impact of risk on capital adequacy and proftability and asset
quality under stress scenarios;
2. To review and assess the internal capital adequacy assessment process
(ICAAP), levels of regulatory and internal capital for the Bank, vis-a-vis its risk
profle;
3. To review and recommend strategic actions to be taken by the Bank arising
from regulatory rules impacting risk management practices for Boards
approval;
4. To review, recommend and approve corrective measures to address risk
concerns as highlighted by various home-host regulatory authorities, where
relevant;
5. To review and approve new products and services and ensure compliance with
the prevailing guidelines issued by BNM or other relevant regulatory body.
6. To oversee the resolution of BNM Composite Risk Rating fndings for Maybank
Group;
7. To provide oversight of specifc risk management concerns in the Business
Sectors of the Group;
8. To delegate appropriate operational issues to Management for their further
actions;
9. To carry out such other responsibilities as may be delegated to it by the Board
from time to time; and
10. To review and approve Terms of References (TORs) of Executive Risk
Committee and Risk Management Committee at subsidiary/overseas
branches.
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Quarterly Results
Maybanks quarterly fnancial results are released during the midday trading
break followed immediately with media and analyst briefngs and/or conference
calls. For the half-year and full-year fnancial results, media and analyst briefngs
are conducted with simultaneous conference calls while for the frst quarter and
third quarter fnancial results, conference calls are held with analysts. Financial
statements, presentation slides and press releases are emailed and made public
on the corporate website to provide the investment community with a better
understanding of Maybanks performance. A quiet period of 14 calendar days
before the targeted date of Maybanks results announcement date is adopted to
prevent inadvertent disclosure of the latest fnancial performance.
Conferences and Roadshows
Stakeholder engagements are conducted through conferences and roadshows
organised locally or abroad, whereby senior management will communicate the
Groups strategy, and the progress of various initiatives and updates to allow
stakeholders to better understand Maybanks operations (Recommendation 8.3 of
the MCCG 2012).
Investor Meetings
The IR unit has frequent one-on-one and group meetings with analysts, investors
and potential investors throughout the year to provide visibility and clarity on
Maybanks operations while key investors and analysts are provided reasonable
access to senior management. The IR unit also engages with its counterpart in
Indonesia to coordinate IR activities for analysts and investors seeking meetings
with the management of Maybanks subsidiary, Bank Internasional Indonesia.
Investor Days
Investor days are organised several times a year to provide a platform for selected
business units, headed by their respective Executive Committee members, to
engage with analysts and investors to explain their business strategy, operations
and fnancial performance which will allow for greater transparency and detailed
understanding of key business functions within the Maybank Group.
Group Corporate Website
Maybanks corporate website (www.maybank.com) provides easy access to
information about the Group. Information available on the corporate website
includes Maybanks corporate profle, individual profles of senior management,
share and dividend information including the dividend reinvestment plan, investor
presentations, fnancial results, annual reports, corporate news and Maybanks
global operations and subsidiaries. Additionally, information on the Group
Governance Structure and framework is also published in the Group Corporate
Website (Recommendation 7.2 of the MCCG 2012).
Visitors can also receive the latest Maybank updates via email or RSS feed
through the corporate website. In addition, stakeholders can obtain regulatory
announcements made by Maybank to Bursa Malaysia on the latters website
(www.bursamalaysia.com).
Annual Report
Maybanks annual report provides a comprehensive report on the Groups
operations and fnancial performance for the year under review. It provides full
disclosure and is in compliance with the relevant regulations to ensure greater
transparency. The annual reports are also printed in summary form together with
a digital version of the annual report in CD-ROM format. An online version of the
Annual Report is also available on Maybanks corporate website.
Media coverage
Media coverage on Maybank or its senior management, either through print
media or television coverage, is also initiated proactively at regular intervals to
provide wider publicity and improve the general understanding of Maybanks
business among investors and the public.
The RMC usually meets nine times in every fnancial year with additional
meetings convened to attend to urgent matters that require its deliberation.
During the fnancial year ended 31 December 2013, nine meetings were held. The
Chairman and a majority of the Committees members are Independent Non-
Executive Directors. Members of the RMC and details of attendance by members
are stated on pages 152 of this Annual Report.
Employees Share Scheme Committee (ESS Committee)
The Employees Share Scheme (ESS) was established to serve as a long-term
incentive plan as well as to align the interests of employees with the objectives of
the Maybank Group to create sustainable value enhancement for the organisation
and the shareholders. The frst ofer under the ESS was made on 23 June 2011 to all
eligible employees.
The Board has delegated to the ESS Committee the responsibility for determining all
questions of policy and expediency arising from the administration of the ESS and to
generally undertake the necessary actions to promote the Banks best interest.
The broad responsibilities of the ESS Committee as outlined in its Terms of
Reference include to administer the ESS and to recommend the fnancial and
performance targets/criteria to the Board for approval prior to implementation
and such other conditions as it may deem ft.
All members of the ESS Committee are Non-Executive Directors. Meetings are
held as and when the ESS Committee is required to deliberate on urgent matters.
Six meetings of the ESS Committee were held during the fnancial year under review.
Members of the ESS Committee and details of meeting attendance by members
are stated on page 152 of this Annual Report.
EXECUTIVE LEVEL MANAGEMENT COMMITTEES (ELC)
The Group PCEO, with the support of the Maybank Board, has established various
ELCs and delegated some of his authority to assist and support the relevant Board
Committees in the operations of the Bank. The key ELCs, which are mostly chaired
by the Group PCEO or the Group Chief Financial Ofcer, are as follows:-
Group Executive Committee
Group Management Credit Committee
Internal Audit Committee
Executive Risk Committee
Asset and Liability Management Committee
Group Staf Committee
Group Procurement Committee
Group IT Steering Committee
INVESTOR RELATIONS AND SHAREHOLDER
COMMUNICATION
Investor Relations (IR) is a function of Maybanks corporate governance
framework that ensures that shareholders, stakeholders, investors and the
domestic and international investment community receive relevant, timely and
comprehensive information about the Group. Maybanks dedicated IR unit is
committed to providing efective and open two-way communication to improve
disclosure and transparency.
The Maybank Investor Relations Policy is a framework of policies, procedures
and processes that the Investor Relations programme is based upon and it also
highlights communication fow by designated Maybank spokespersons. The
Investor Relations programme is conducted throughout the year to ensure that a
series of planned activities are implemented to communicate Maybanks strategy,
operational performance, fnancial results and other material developments
to the exchange (Bursa Malaysia), analysts, investors, shareholders, and
other stakeholders in a timely, open and comprehensive manner (Principle 7,
Recommendation 7.1 of the MCCG 2012).
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Credit Rating
Maybanks credit ratings are provided by fve rating agencies, namely Standard
and Poors, Fitch Ratings, Moodys Investors Services, RAM Rating Services
Berhad (RAM Ratings) and Malaysian Rating Corporation Berhad (MARC), as part
of providing an independent fow of information to stakeholders as well as to the
general public.
Contact Details of IR Spokespersons.
Mohamed Rafque Merican
Contact: (6)03 2074 7878
Email: [email protected]
Narita Naziree
Head, Group Performance Reporting & Investor Relations
Contact: (6)03 2074 8017
Email: [email protected]
For more information on the investor relations activities conducted during the
year, please refer to the Investor Relations section on page 128.
GENERAL MEETINGS
The Groups EGMs and AGMs represent the primary platforms for direct two-way
interaction between the shareholders, Board and management of the Group. In
deference to shareholder democracy and the transparency policy adopted by the
Group, shareholder approval is required on all material issues including, but not
limited to, the election and appointment of Directors, major mergers, acquisitions
and divestments exercises, as well as the appointment of auditors and fnal
dividend payments.
The attendance of shareholders at the Groups general meetings has always been
high as evidenced by the presence of 2,754 shareholders at the 53
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AGM for the
fnancial year 2012. Active participation by the shareholders is encouraged during
the AGM, in which an open platform is made available to the shareholders to raise
questions relevant to the items in the AGM agenda and appropriate response and
clarifcation are promptly provided by the Board members to the shareholders.
The Bank continues the practice of encouraging shareholders to submit written
questions in advance prior to the commencement of the meeting, in the forms
provided during registration. This additional channel for the shareholders to
raise their questions would allow the Bank to prepare the answers in advance,
and to group together similar questions from diferent shareholders to answer
comprehensively as one. This provides greater efciency in meeting proceedings
and enables the Bank to address even more questions from the foor and is
not intended to curtail the shareholders right to speak in the meeting as the
shareholders can still raise questions or make observations after the written
question and answer session has been completed.
Additionally, the queries by MSWG on Maybanks business or other pertinent
governance issues raised prior to the meeting as well as Maybanks feedback
are shared with all shareholders during the AGM. The results of voting of each
resolution are also immediately announced to the shareholders in the AGM after
the voting process.
In line with Recommendation 8.2 of MCCG 2012 on poll voting, Maybank has
always made the necessary preparation for poll voting for all resolutions at its
AGM. The Board also takes note of Recommendations 8.1 and 8.2 of MCCG 2012
on e-voting and shall consider employing electronic means for both show of
hands and polling, to facilitate greater shareholder participation in view of its
large shareholder base and related logistical complexity, taking into consideration
its reliability, applicability, cost and efciency.
In addition to the AGMs and EGMs, shareholders and market observers are also
welcome to raise queries at any time through the Corporate Afairs and Group
Investor Relations Divisions.
OWNERSHIP STRUCTURE
The shares of Maybank are widely held with institutional shareholders dominating
the ownership structure of Maybank. As at 31 December 2013, the top three
shareholders were Skim Amanah Saham Bumiputra (ASB) with 38.22%, Employees
Provident Fund Board with 13.41% and Permodalan Nasional Berhad (PNB) with
5.70%, accounting in aggregate for a combined 57.33%.
Although the three top shareholders of Maybank accounted for more than half of
the total paid up share capital of Maybank, Maybank is not subject to any biased
infuence from these shareholders and they do not hold management position
within the organisation. This arrangement ensures a high level of corporate
governance and permits the Group to focus on continuously building value for all
its shareholders.
Maybanks shareholding structure is transparent and is disclosed on page 174 of
this Annual Report. Any updates on the shareholding structure can be obtained
on request from the designated management personnel on Investor Relations
matters. The existing share structure consists entirely of Ordinary Shares and
there are no diferent classes of Ordinary Shares. There is no foreign shareholding
limit and the Banks Memorandum and Articles of Association do not have any
explicit provision(s) that may discourage any acquisition. However, the Bank is
subject to FSA, which contains certain restrictions on share ownership.
As part of Maybanks efort to expand its liquidity and shareholder base, it has
established a Sponsored Level 1 American Depository Receipt Programme (ADR)
which has been traded over-the-counter in the United States of America since May
2005 on the basis of one ADR being equivalent to two Maybank shares. Maybank
Custody Services holds the securities for Maybank and the total number of ADRs
outstanding is 10,542,333 as at 31 December 2013. The percentage of the securities
for which the ADRs are issued against Maybanks issued and paid-up share capital is
0.12%.
ACCOUNTABILITY AND AUDIT
Financial Reporting and Disclosure
Financial Reporting
The Board has a fduciary responsibility to present to the shareholders and the
public at large, a clear, balanced and meaningful evaluation of the Groups and
the Banks fnancial position, fnancial performance and prospects. The Board is
assisted by the Audit Committee in overseeing the fnancial reporting process and
the quality of the Groups and the Banks fnancial statements.
Disclosures on Financial Highlights and Financial Indicators
The Groups and the Banks fnancial highlights and indicators for the fnancial
year ended 31 December 2013 are set out on pages 34 to 39 of this annual report.
Directors Responsibility Statement
The Board also ensures that the Groups and the Banks fnancial statements
prepared for each fnancial year give a true and fair view in accordance with
Malaysian Financial Reporting Standards, International Financial Reporting
Standards and the requirements of the Companies Act, 1965 in Malaysia.
The Statement of Directors Responsibility in respect of the preparation of
audited fnancial statements for the Group and the Bank is set out on page 11 of
the Financial Statements book of the Annual Report 2013.
Internal Controls
The Board has overall responsibility for maintaining sound internal control
systems that cover fnancial controls, operational and compliance controls,
governance and risk management to ensure that shareholders investments,
customers interests and the Groups assets are safeguarded.
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The efectiveness of risk management and internal controls is continuously
reviewed to ensure that they are working. The Audit Committee regularly
evaluates the efectiveness and adequacy of the Groups internal control systems
by reviewing the actions taken on internal control issues identifed in reports
prepared by Group Audit during its scheduled meetings. The Audit Committee
also reviews Audits recommendations and management responses to these
recommendations.
The Statement on Risk Management and Internal Control is furnished on page
160 of this Annual Report and this provides an overview of the state of internal
controls within the Group.
Whistleblowing Policy
The Board is satisfed that an adequate framework on whistleblowing, known
as the Integrity Hotline (formerly Fraud Reporting Hotline) is in place, having
been implemented in 2004. All employees can raise their concerns regarding any
misconduct or wrongdoing including but not limited to unethical incidences such
as criminal activities or contravention of laws/regulations committed by another
employee or any person who has dealings with the Group via the following
channels without any fear of retribution:
Toll-Free Message Recording Line at 1-800-38-8833 or for Overseas at 603-
20268112
Protected Email Address at [email protected]
Secured P.O. Box Mail Address at P.O. Box 11635, 50752 Kuala Lumpur,
Malaysia
These channels protect employees who contemplate blowing the whistle
against any negative repercussions arising from genuine reporting, and provide
an assurance of confdentiality to them. Confdentiality of all matters raised and
the identity of the whistleblower are protected under the Policy. Concerns raised
anonymously will also be considered provided they are clear and specifc. Further
details of the Policy are set out on page 172 of this Annual Report.
Relationship with the Auditors
Internal Auditors
The Group Audit reports functionally to the Audit Committee of the Bank and
has unrestricted access to the Audit Committee. Its function is independent of
the activities or operations of other operating units. The Group Audit regularly
evaluates the efectiveness of the risk management process, review the operating
efectiveness of the internal controls system and compliance control across the
Bank and the Group. The Group Chief Audit Executive is invited to attend the
Audit Committee meetings to facilitate the deliberation of audit reports. The
minutes of the Audit Committee meetings are subsequently tabled to the Board
for information and serve as useful references especially if there are pertinent
issues that any Directors wishes to highlight or seek clarifcation on.
External Auditors
The Audit Committee and the Board place great emphasis on the objectivity and
independence of the Banks Auditors, namely Messrs. Ernst & Young, in providing
relevant and transparent reports to the shareholders. To ensure full disclosure of
matters, the Banks Auditors are regularly invited to attend the Audit Committee
meetings (as well as the Annual General Meetings), apart from the twice yearly
discussions with the Audit Committee without the presence of the senior
management.
A full report of the Audit Committee outlining its role in relation to the internal
and external auditors is set out on pages 162 to 164 of this Annual Report.
Maybank Groups Code of Ethics and Conduct
In addition to the BNM/GP1 and the Company Directors Code of Ethics
established by the Companies Commission of Malaysia, the Group also has a
Code of Ethics and Conduct that sets out sound principles and standards of good
practice in the fnancial services industry, which are observed by the Directors and
the employees. Both Directors and employees are required to uphold the highest
integrity in discharging their duties and in dealings with stakeholders, customers,
fellow employees and regulators. This is in line with the Groups Core Values
which emphasise behavioural ethics when dealing with third parties and fellow
employees (Recommendation 1.3 of the MCCG 2012).
Corporate Integrity Pledge
The Maybank Group reinforces its commitment to a high level of accountability
and transparency by being the frst fnancial institution in Malaysia to sign to the
Malaysian Corporate Integrity Pledge in August 2011.
The Pledge is as a result of collaboration among:
Bursa Malaysia Berhad;
Companies Commission of Malaysia;
Malaysian Institute of Integrity;
Malaysian Anti-Corruption Commission & NKRA Corruption Monitoring &
Coordination Division;
Securities Commission Malaysia; and
Transparency International Malaysia and the Performance Management and
Delivery Unit (PEMANDU), Prime Ministers Ofce.
This declaration signifes to the public that the Group supports and upholds Anti-
Corruption Principles for Corporations in Malaysia as well as working towards
creating a business environment that is free from corruption in the conduct of its
business and in its interactions with its business partners and the Government.
Corporate Responsibility
The Board is satisfed that a good balance has been achieved between value
creation and corporate responsibility. Details of the Groups corporate
responsibility initiatives are set out on pages 122 to 127 of this Annual Report.
Competition Act 2010
The Act came into force on 1 January 2012, and to facilitate Group-wide
adherence, the Joint Secretariat to the Maybank Group Antitrust Steering
Committee (Joint Secretariat) consisting of key representatives from Group
Corporate and Legal Services, as well as Group Compliance, developed a Guide to
Competition Act 2010 (Guide) which has been disseminated to all staf at large
via the Groups e-portal.
This Guide is intended to assist all staf in understanding the basic elements of
the Act and competition law issues generally and to ensure that our business
operations and conduct that are not anti-competitive continue as usual.
It highlights two key prohibitions under the Act, namely anti-competitive
agreements (horizontal and vertical) and abuse of dominant position.
Staf have been informed that any further queries, pertaining to this legislation can be
directed either by e-mail to the Joint Secretariat or to [email protected].
Personal Data Protection Act 2010
The Personal Data Protection Act 2010 (PDPA) came into force on 15 November
2013.
The PDPA is a legislation that regulates the collection, storing, processing,
disclosure and use of personal data which is any data or information that relates
directly or indirectly to an individual (data subject) and includes expression of
opinion about the data subject.
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The Bank has taken steps to comply with the requirements of the PDPA
including the publication of the Bank's Privacy Notice on the Bank's website
and notifcation to its customers through the message portal on the Bank's ATM
machines and customers' statements of account that the Bank's Privacy Notice is
available on its website.
ADDITIONAL COMPLIANCE INFORMATION
AS AT 31 DECEMBER 2013
1. Utilisation of Proceeds
(a) HKD1.55 billion Senior Notes under USD5.0 billion Multicurrency Medium
Term Note Programme
Issued on 23 September 2013. The proceeds raised from the HKD
Senior Notes are for the purpose of funding Maybank Hong Kong
branch working capital, general banking and other corporate
purposes.
(b) USD200 million Senior Notes under USD5.0 billion Multicurrency
Medium Term Note Programme
Issued on 15 May 2013. The proceeds raised from the USD Senior
Notes are for the purpose of funding Maybanks working capital,
general banking and other corporate purposes.
(c) Dividend Reinvestment Plan (DRP) Ongoing
The net proceeds from the DRP (after deducting estimated expenses
of the DRP) are for the purpose of funding the continuing growth and
expansion of the Maybank Group.
2. Share Buy-back

Maybank did not make any proposal for share buy-back during the fnancial
year ended 31 December 2013.
3. Options, Warrants or Convertible Securities
Maybank did not issue any options, warrants or convertible securities during
the fnancial year ended 31 December 2013, save and except for the options
issued pursuant to the Employees Share Scheme.
4. Imposition of Sanctions and/or Penalties
There were no material sanctions and/or penalties imposed on Maybank and
its subsidiaries, directors or management by the relevant regulatory bodies,
which were made public during the fnancial year ended 31 December 2013.
5. Non-audit fees
Non-audit fees payable to the external auditors, Ernst & Young, for the year
amounted to RM5,324,000 for the Group and RM3,235,000 for the Bank.
6. Variation in Results
There was no proft forecast issued by Maybank and its subsidiaries during the
fnancial year ended 31 December 2013.
7. Proft Guarantee
There was no proft guarantee issued by Maybank and its subsidiaries during
the fnancial year ended 31 December 2013.
8. Material Contracts
There were no material contracts entered into by the Company and its
subsidiaries involving Directors and substantial shareholders, either still
subsisting at the end of the fnancial year ended 31 December 2013 or entered
into since the end of the previous fnancial year.
9. Valuation Policy
The Company does not re-value its landed properties classifed as Property
and Equipment. The revaluation policy on landed properties classifed as
Investment Properties is disclosed in Note 2.3(xi) of the Financial Statements -
Annual Report 2013.
10. Recurrent Related Party Transactions of a Revenue or Trading Nature (RRPT)
The Company did not enter into nor seek mandate from its shareholders on
any RRPT for the fnancial year ended 31 December 2013.
This statement is made in accordance with a resolution of the Board dated 23
January 2014.
TAN SRI DATO MEGAT ZAHARUDDIN MEGAT MOHD NOR
Chairman of the Board
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STATEMENT ON RISK MANAGEMENT &
INTERNAL CONTROL
fnancial year ended 31 December 2013
Accordingly, the Board is pleased to provide the Statement on Risk Management
& Internal Control that was prepared in accordance with the Statement on
Risk Management & Internal Control Guidelines for Directors of Listed
Issuers endorsed by Bursa Malaysia Securities Berhad. This guideline outlines
the processes to be adopted by the Board in reviewing the adequacy and
efectiveness of the risk management and internal control system of the Group.
RESPONSIBILITY
The Board acknowledges its overall responsibility in establishing a sound risk
management framework and internal control system as well as reviewing its
adequacy and efectiveness. The Board is of the view that the risk management
framework and internal control system are designed to manage the Groups
risks within the acceptable risk appetite, rather than to eliminate the risk of
failure to achieve the business goals and objectives. It can therefore only provide
reasonable, rather than absolute assurance against material misstatement, fraud
or loss.
The Board has established appropriate control structure and process for
identifying, evaluating, monitoring, managing and responding to signifcant risks
faced by the Group in its achievement of the business goals and objectives. The
control structure and process which have been instituted throughout the Group
are reviewed and updated from time to time in response to the changes in the
business environment, and this on-going process has been in place for the whole
fnancial year under review and up to the date of approval of the Statement on
Risk Management & Internal Control for inclusion in the Annual Report.
The role of Management includes:
Identifying and evaluating the risks faced, and the achievement of business
objectives and strategies;
Formulating relevant policies and procedures to manage these risks;
Designing, implementing and monitoring the efective implementation of risk
management framework and internal control system;
Implementing the policies approved by the Board; and
Reporting in a timely manner to the Board any changes to the risks and the
corrective actions taken.
INTERNAL CONTROL STRUCTURE
The key processes that the Board has established in reviewing the adequacy and
efectiveness of the risk management framework and internal control system
include the following:
Risk Management Framework
The Board has established an organisation structure with clearly defned lines
of responsibility, authority limits, and accountability aligned to business and
operations requirements which support the maintenance of a strong control
environment. It has extended the responsibilities of the Audit Committee of
the Board (ACB) to include the assessment of internal controls through the
Internal Audit function.
The Board has also delegated the responsibility of reviewing the efectiveness
of risk management to the Risk Management Committee (RMC). The
efectiveness of the risk management system is monitored and evaluated by
the Group Risk Management function, on an on-going basis. The RMC assists
the Board to review and oversee the efectiveness of the risk management
of the Bank, wherein the Group Risk Management function would facilitate
the continuous monitoring and evaluating of the Groups risk management
system. Any approved policy and framework formulated to identify measure
and monitor various risk components would be reviewed and recommended
by the RMC to the Board. Additionally, the RMC reviews and assesses the
adequacy of these risk management policies and ensures infrastructure,
resources and systems are emplaced for risk management.
The risk governance structure is aligned across all the business units,
overseas units, and subsidiaries of the Group. These are aligned through the
streamlining of the risk frameworks, policies and organisational structures in
order to embed and enhance our risk management and risk culture.
Risk management principles, policies, procedures and practices are updated
regularly to ensure relevance and compliance with current/applicable laws
and regulations, and are made available to all employees. The Group also
adopted a whistle blowing policy, providing an avenue for employees to
report actual or suspected malpractice, misconduct or violations of the
Groups policies and regulations in a safe and confdential manner.
A written Management Control Policy (MCP) and Internal Control Policy
(ICP) from Management are in place. The MCP outlines the specifc
responsibilities of the various parties i.e. the Management, the Internal
Audit Committee (IAC) and the ACB pertaining to internal control. The ICP
is to create awareness among all the employees with regards to the internal
control components and the basic control policy.
Introduction
This Statement on Risk Management & Internal Control is made pursuant
to Bursa Malaysia Securities Berhad Listing Requirements which requires
the Board of Directors (Board) to include in its Company Annual Report a
statement about the state of its internal control. The revised Malaysian Code
on Corporate Governance requires all listed companies to establish a sound
risk management framework and internal control system to manage risk and
safeguard shareholders investment and the companys assets.
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There is an Anti-Fraud Framework implemented. The Framework provides
broad principles, strategy and policy for the Group to adopt in relation
to fraud in order to promote high standards of integrity. The Framework
establishes robust and comprehensive programmes and controls for the
Group as well as highlights the roles and responsibilities at every level for
preventing and responding to fraud.
The Group established the three lines of defence concept: risk taking units,
risk control units, and internal audit. The risk taking units manage the day-
to-day management of risks inherent in their business activities, while the
risk control units are responsible for setting the risk management framework
and developing tools and methodologies. Complementing this is internal
audit, which provides independent assurance of the efectiveness of the risk
management approach.
Internal Audit Function
The Internal Audit function undertakes regular reviews of the Groups
operations and the systems of internal control. Regular reviews are
performed on the business processes to examine and evaluate the
adequacy and efciency of fnancial and operating controls. Signifcant
risks and non-compliance impacting the Group are highlighted and where
applicable, recommendations are provided to improve on the efectiveness
of risk management, internal control system and governance processes.
Management follows through and reviews the status of actions on
recommendations made by the internal auditors. Reviews by Internal Audit
are carried out on units that are identifed using risk-based approach taking
into consideration input from Management, ACB and the Board.
The IAC is a management committee chaired by the Group Chief Financial
Ofcer comprising senior level representatives from diferent Lines of
Business. The IAC meets regularly to deliberate on the fndings of all signed
audit and investigation reports and decide on the appropriate action required
to resolve issues/concerns covering all aspects of the Banks business and
operations. Where required, representatives from the parties being audited
are requested to attend the IAC meeting to enable more detailed deliberation
and speedy resolution of the matter at hand. Minutes of the IAC meeting are
then tabled to the ACB together with the audit reports. The IAC also follows
through on the actions required by the ACB.
The ACB meets on a scheduled basis to review issues identifed in audit
reports prepared by Internal Audit and further evaluates the efectiveness
and adequacy of the Groups internal control system. The ACB has active
oversight on Internal Audits independence, scope of work and resources. It
also reviews the Internal Audit function, the scope of the annual audit plan
and frequency of the internal audit activities. Minutes of the ACB meeting
are then tabled to the Board. The details of the activities undertaken by the
ACB are highlighted in the Audit Committee Report.
Other Key Elements of Internal Control
The other key elements of the procedures established by the Board that provides
efective internal control include:
An annual business plan and budget are submitted to the Board for approval.
Performance achievements are reviewed against the targeted results on a
monthly basis allowing timely responses and corrective actions to be taken
to mitigate risks. The Board reviews regular reports from the management
on the key operating statistics, as well as legal and regulatory matters. The
Board also approves any changes or amendments to the Groups policies.
Other Board Committees are also established to assist the Board in
performing its oversight function namely Credit Review Committee,
Nomination and Remuneration Committee and Employee Share Scheme
Committee. Specifc responsibilities have been delegated to these Board
Committees, all of which have formalised terms of reference. These
Committees have the authority to examine all matters within their scope
and report to the Board with their recommendations. For more details on the
various Board Committees, please refer to pages 154 to 156.
Various Executive Level Management Committees (ELCs) are also established
by Management to assist and support the various Board Committees to
oversee the core areas of business operations. These ELCs include the Group
Executive Committee, Group Management Credit Committee, Executive Risk
Committee, Asset & Liability Management Committee, Group Procurement
Committee, Group IT Steering Committee, Group Staf Committee, and
Human Resource Disciplinary Committee.
There are recruitment and promotion policies/guidelines established within
the Group to ensure that the right and appropriate persons are selected
to fll available positions. Formal training programmes either face-to-face
or through e-learning, semi- and annual performance appraisals, and other
relevant procedures are in place to ensure that staf are adequately trained
and competent to enable them to discharge their duties and responsibilities
efectively. Proper guidelines are also drawn up for termination of staf.
A clearly defned framework with appropriate empowerment and authority
limits has been approved by the Board for procurement activities, acquisition
and disposal of assets, operational write-of, donations, as well as approving
general and operational expenses.
There are policies and procedures in place to ensure compliance with
internal control and the prescribed laws and regulations. These policies
and procedures are set out in the Groups Standard Practice Instruction
and are updated from time to time in tandem with changes to the business
environment or regulatory guidelines.
Assurance from Management
The Board has also received reasonable assurance from the Group President &
Chief Executive Ofcer and the Group Chief Financial Ofcer that the Groups risk
management framework and internal control system are operating adequately
and efectively, in all material respects, based on the risk management model
adopted by the Group.
REVIEW OF THE STATEMENT BY EXTERNAL AUDITORS
The external auditors have reviewed this Statement on Risk Management &
Internal Control for inclusion in the Annual Report for the fnancial year ended
31 December 2013. The external auditors conducted the review in accordance
with the Recommended Practice Guide 5 (Revised): Guidance for Auditors on
Engagements to Report on the Statement on Risk Management & Internal Control
included in the Annual Report (RPG 5) issued by the Malaysian Institute of
Accountants. The review has been conducted to assess whether the Statement
on Risk Management & Internal Control is both supported by the documentation
prepared by or for the Board and appropriately refects the processes the
Directors had adopted in reviewing the adequacy and integrity of the system
of internal controls of the Group. RPG 5 does not require the external auditors
to consider whether the Directors Statement on Risk Management & Internal
Control covers all risks and controls, or to form an opinion on the efectiveness of
the Groups risk and control procedures. RPG 5 also does not require the external
auditors to consider whether the processes described to deal with material
internal control aspects of any signifcant matters disclosed in the Annual Report
will, in fact, mitigate the risks identifed or remedy the potential problems. Based
on their review, the external auditors have reported to the Board that nothing had
come to their attention that causes them to believe that the Statement on Risk
Management & Internal Control is inconsistent with their understanding of the
processes the Board has adopted in the review of the adequacy and efectiveness
of the risk management and internal control of the Group.
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AUDIT COMMITTEE
REPORT
A. COMPOSITION AND TERMS OF REFERENCE
Composition
1. The Committee shall be appointed by the Board of Directors (Board) from
amongst its non-executive directors and shall consist of at least (3) three
members. The Chairman and the majority of the Audit Committee members
must be independent directors and at least one (1) member of the committee
must be:
a member of the Malaysian Institute of Accountants (MIA); or
if he is not a member of the MIA, he must have at least three (3)
years working experience; and
i. he must have passed the examinations specifed in Part I of the
First Schedule of the Accountants Act, 1967; or
ii. he must be a member of one (1) of the associations of accountants
specifed in Part II of the First Schedule of the Accountants Act, 1967.
2. Where the Chairman is unable to attend the meeting, the members shall
elect a person among themselves as Chairman.
3. Review of membership is undertaken once every three (3) years. This review
pertains to the terms of ofce and performance of the members.
Meetings
1. Meetings shall be held at least once a month or at a frequency to be
decided by the Committee and the Committee may invite any person
to be in attendance to assist in its deliberations. At least once a year, the
Committee shall meet with the external auditor without the presence of
Management.
2. The Committee will regulate its own procedure particularly with regard to
the calling of meetings, the notice to be given of such meetings, the
voting and proceedings of such meetings, the keeping of minutes, the
custody, production and inspection of such minutes.
3. Upon the request of the external auditor, a meeting is to be convened to
consider any matter that the auditor believes should be brought to the
attention of the directors and shareholders.
Quorum
The quorum shall be two (2), both of whom are to be independent directors.
Secretary
The General Counsel & Company Secretary, En. Mohd Nazlan bin Mohd Ghazali is
the Secretary to the ACB.
Authority
The Committee is authorised by the Board to:
1. Investigate any activity or matter within its terms of reference.
2. Promptly report to Bursa Malaysia Securities Berhad (Bursa Securities)
matters which have not been resolved satisfactorily, thus, resulting in a
breach of the Bursa Securities Listing Requirements.
3. Obtain external independent professional advice, legal or otherwise deemed
necessary.
4. Maintain direct communication channels with external auditors, person(s)
carrying out the IA function or activity, and with senior management of the
Bank and its subsidiaries.
5. Convene meetings with internal and external auditors, without the
attendance of the management, whenever deemed necessary.
In discharging the above functions, the ACB has also been empowered by the
Board to have:
Necessary resources which are required to perform its duties
Full and unrestricted access to any information and documents relevant to its
activities.
B. DUTIES & RESPONSIBILITIES
The primary duties and responsibilities of the ACB with regards to the
Maybank Groups Internal Audit (IA) function, external auditors, fnancial
reporting, related party transactions, annual reporting and investigation are
as follows:
1. Internal Audit
Review the adequacy of the IA scope and plan, functions and resources,
Audit Charter and that it has the necessary authority to carry out its work.
Review the IA reports and to ensure that appropriate and prompt
remedial action is taken by Management on lapses in controls or
procedures that are identifed by IA.
Approve the appointment and termination of the Chief Audit Executive
and Heads of Department of IA.
Assess the performance of the IA staf; determine/approve the
remuneration and annual increment of the IA staf.
Take cognisance of resignation of IA staf and the reason for resigning.
2. External Audit
Review the appointment and performance of external auditors, the
audit fee and any question of resignation or dismissal and to make
recommendations to the Board.
Assess the qualifcation, expertise, resources and efectiveness of the
external auditors.
Monitor the efectiveness of the external auditors performance, their
independence and objectivity.
Review the external auditors audit scope and plan, including any changes
to the planned scope of the audit plan.
Review major audit fndings raised by the external auditors and
Managements responses, including the status of previous audit
recommendations.
Review the assistance given by the Groups ofcers to the external
auditors and any difculties encountered in the course of the audit work,
including any restrictions on the scope of activities or access to required
information.
Approve non audit services provided by the external auditors.
3. Financial Reporting
Review the quarterly and year-end fnancial statements focusing on:-
Any changes in accounting policies and practices
Signifcant and unusual events
Compliance with applicable Financial Reporting Standards and
other legal and regulatory requirements.
The Audit Committee Members of Maybank :
1. Tan Sri Datuk Dr Hadenan A. Jalil (Chairman)
2. Dato' Johan Arifn (Member)
3. Mr Cheah Teik Seng (Member)
4. Mr Erry Riyana Hardjapamekas (Member)
1 2
3 4
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4. Related Party Transactions
Review any related party transactions and confict of interest
situations that may arise within the Bank or Maybank Group including
transactions, procedures or courses of conducts that may raise questions
of Managements integrity.
5. Annual Report
Report the Audit Committees activities for the fnancial year.
6. Investigation
Instruct the conduct of investigation into any activity or matter within
its terms of reference.
7. Other Matters
Act on other matters as the Committee considers appropriate or as
authorised by the Board of Directors.
C. ACTIVITIES OF THE AUDIT COMMITTEE
DURING THE YEAR
During the year under review, the Audit Committee in the discharge of its
duties and functions carried out the following activities:
Attendance of meetings
A total of fourteen (14) meetings were held during the year ended 31
December 2013. The details of attendance of each of the member at the
Committee meetings held during the year are as follows:
No. of meetings
Composition and name of attended during the
committee member period under review
1. Tan Sri Datuk Dr Hadenan A. Jalil (Chairman) 14/14
- Appointed on 15/7/2009
- Independent Non-Executive Director

2. Dato' Johan Arifn (member) 14/14
3. Mr Cheah Teik Seng (member) 14/14
4. Mr Erry Riyana Hardjapamekas (member) 13/14
The Audit Committee consists of four (4) Independent Non-Executive
Directors. One of the members (Mr Cheah Teik Seng) is a Fellow of the
Institute of Chartered Accountants in England and Wales. This meets the
requirement of the Bursa Securities Listing Requirements which requires at
least one qualifed accountant as a member of the Audit Committee.
The Audit Committee meets on a scheduled basis. The Group Chief Financial
Ofcer (GCFO) and the Group Chief Audit Executive (GCAE) are invited
to attend the meetings. The External Auditors are also invited to discuss
their management letters, Audit Planning Memorandum and other matters
deemed relevant.
In addition to the scheduled meetings, the members of the Audit Committee
also had two (2) sessions with the External Auditors without the presence of
the Management.
The Audit Committee also meets to discuss and review the quarterly
unaudited fnancial results and the annual audited fnancial statements of the
Bank and the Maybank Group. The Group President & Chief Executive Ofcer
(GPCEO) and the GCFO are invited to attend these meetings, together with
the External Auditors.
Internal Audit (IA)
1. Reviewed the annual audit plan for Financial Year 2013 to ensure
adequate scope, coverage of the activities of the Bank and the Group
and the resource requirements of IA to carry out its functions.
2. Reviewed the IA reports, audit recommendations and Managements
responses to these recommendations.
3. Reviewed the status report on actions implemented by Management
to rectify the outstanding audit issues to ensure control lapses are
addressed.
4. Reviewed the monthly audit performance reports to ensure the
adequacy, performance, progress, achievement, coverage of the IA
functions and noted the reasons for the resignation of audit staf.
5. Reviewed the audit reports issued by regulatory authorities,
Managements responses to the Regulators recommendations and the
remedial actions taken to rectify the weaknesses detected.
6. Reviewed the minutes of meetings of the subsidiary companies ACB
for an overview of the risk management and internal control systems of
those subsidiary companies.
7. Provided independent evaluation on the performance and remuneration
package of audit staf in accordance with the regulatory requirements.
8. Approved the key position appointment in Audit.
9. Instructed the conduct of investigation into activity or matter within its
terms of reference.
10. Reviewed the Audit Committee Report and Statement on Risk
Management and Internal Control.
11. Reviewed the minutes of meetings of the Internal Audit Committee
for an overview of the deliberation and remedial actions taken by
Management on the control lapses raised by internal auditors.
Financial Reporting
12. Reviewed the quarterly unaudited fnancial results and the annual
audited fnancial statements of the Bank and the Maybank Group to
ensure that the fnancial reporting and disclosure requirements are in
compliance with accounting standards, with special focus placed on
changes in accounting policy, as well as signifcant and unusual events/
transactions.
External Audit
13. Reviewed with the external auditors:-
The Audit Planning Memorandum and scope of work for the year.
The results of the audit, the relevant audit reports and Management
Letters together with Managements responses/comments to the
fndings.
14. Approved the appointment of external statutory auditors for the
provision of non-audit services. When considering the approvals
for these services, the ACB took into consideration the process and
requirements (including fees threshold) established under the policy for
such appointments.
15. Evaluated the performance of the external auditors and made
recommendations to the Board on their reappointment.
Employee Share Scheme (ESS)
16. Reviewed the allocation to ensure that it is consistent with the approved
matrix.
Directors Training
17. The training attended by the Committees is reported under the
Statement on Corporate Governance in pages 146 to 159.
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D. INTERNAL AUDIT FUNCTION
The Group has a well-established in-house Internal Audit (IA) to assist
the Board of Directors to oversee that Management has in place a sound
risk management, internal control and governance system. The total costs
incurred for maintaining the IA function in Malaysia for fnancial year ended
31 December 2013 was approximately RM37 million, comprising mainly
salaries, travelling and accommodation expenses and subsistence allowances
for audit assignments.
The IA function is guided by its Audit Charter and reports functionally
to the ACB of the Bank and administratively to the GPCEO, and is
independent of the activities or operations of other operating units. The
principal responsibility of IA is to undertake regular and systematic reviews
to evaluate the efectiveness of risk management frameworks and the
internal control systems in order to provide reasonable assurance that such
frameworks and systems continue to operate efciently and efectively. In
order for IA to perform its functions efectively, the auditors are continuously
sent for training to equip themselves with requisite product knowledge and
skills especially in the areas of Shariah, Treasury, Credit, Investment Banking,
Information Technology and Insurance & Takaful. The scope of coverage of IA
encompasses all units and operations of the Bank and Maybank Group. The
selection of the units to be audited from the audit universe leading to the
formulation of the annual audit plan is premised on a risk-based approach,
and it is the responsibility of the IA to provide the ACB with an independent
and objective report on the state of afairs of the risk management, internal
control and governance processes.
The IA function for Maybank operations and its subsidiary companies in
Malaysia and Papua New Guinea is organised on a Group basis within
Maybank. When approving the Annual Audit Plan, the ACB reviews Maybank
IAs human resource requirements to ensure that the function is adequately
and appropriately resourced. The IA functions for the respective subsidiary
companies in the Philippines, Indonesia, Singapore, Thailand and Cambodia
are organised and supported by the respective resident IA teams with direct
accountability to the respective Board Audit Committees of these subsidiary
companies. Technical support and training in specialised audit areas such as
credit, treasury, information technology, asset management and investment
banking are provided by Group Audit, where required to ensure consistency
in the application of auditing standards and processes.
The audit reports which provide the results of the audit conducted in
terms of the risk management of the unit, operating efectiveness of
internal controls, compliance with internal and regulatory requirements
and overall management of the unit are submitted to the respective ACBs
for their review. Key control issues, signifcant risks and recommendations
are highlighted, along with Managements responses and action plans for
improvement and/or rectifcation, where applicable. This enables the ACB
to execute its oversight function by forming an opinion on the adequacy of
measures undertaken by Management.
All auditing activities are conducted in line with the Banks objectives and
policies; in accordance with applicable laws and regulations; in compliance
with the relevant policies and guidelines issued by Bank Negara Malaysia and
Securities Commission and as guided by the Code of Ethics and International
Standards for the Professional Practice of Internal Auditing (Standards)
promulgated by The Institute of Internal Auditors (IIA).
For FY2013, the activities undertaken by IA were as follows:
1. Developed an annual audit plan using a risk-based approach, taking into
consideration the Groups business expansion plan as well as inputs
from Senior Management and the ACB.
2. Provided independent assessment and objective assurance over the
adequacy and efectiveness of risk management, internal control and
governance processes via structured reviews of units and operations
identifed in the annual audit plan.
3. Conducted ad-hoc assignments and special reviews as instructed by the
ACB.
4. Ascertained the level of compliance with established policies and
procedures and statutory requirements.
5. Recommended improvements and enhancements to the existing system
of internal controls and work procedures/processes.
6. Provided independent and objective reviews of the adequacy and
relevance of internal controls enforced to mitigate the risk exposures
in the introduction of new products and implementation of new IT
systems.
7. Besides the risk assurance activities, IA also conducts audits on
computer hardware, operating and application systems as well as the
information communication technology (ICT) network of Maybank
Group.
8. Conducted investigation into activities or matters as instructed by the
ACB and Senior Management.
9. Witnessed the tender opening process for procurement of services or
assets.
10. Preparation of Audit Committee Report and Statement on Risk
Management and Internal Control for the Companys Annual Report for
Financial Year ended 31 December 2013.
11. Conducted peer reviews of IA functions at the overseas subsidiaries
to assess their conformance with IIAs Standards and to identify
opportunities and provide recommendations for improvement, where
necessary.
AUDIT COMMITTEE
REPORT
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RISK
MANAGEMENT
We made excellent progress towards Group Risk's 2015 roadmap
of high performance risk culture across the Group, as we have
built robust and scalable foundations, enabling us to create value
to support the Groups regional aspirations.
Dr John Lee
Group Chief Risk Ofcer
OUR KEY ACHIEVEMENTS FOR 2013
Embedded risk management into our business strategy and planning to
ensure our risk-taking activities are aligned with our risk management
more effectively.
Defined, aligned and implemented our Risk Appetite framework across
the Group to better define our risk-taking boundaries.
Improved the Risk-Reward dynamics across the Group by enhancing our
risk-informed pricing decisions and performance.
Continued to reduce the cost structure of our balance sheet and optimise
the capital across the Group.
Continued to drive improvements across all risk frameworks, systems
and processes to deliver value-added services to the business in a cost
effective manner and enhance our stakeholder engagements.
Established Centres of Excellence (COEs) to build deep specialisation
of risk professionals to provide value-added risk insights to support
business decision-making.
Enhanced our Risk Talent Management blueprint to up-skill resources and
set the platform to bridge competency gaps.
Initiated various risk systems enhancements to ensure robust risk
capabilities through technology.
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OVERVIEW
Amidst the challenging global economic environment, Group Risk remained committed to its 2013 strategic priorities to enhance and integrate risk into the business
to strengthen risk management efectively across the Group. Our robust risk management continues to play an integral part in driving value creation to support the
Groups regional aspiration.
During the fnancial year, the Groups risk transformation eforts were driven by the following external and internal drivers:
External Drivers
Challenging economic and cost environment;
Regulatory pressures on business model and cost structure;
Increase in data and IT infrastructure requirements; and
Talent shortages across the region.
Internal Drivers
Group's transformation initiatives gaining critical mass;
Greater complexities in Group's Operating model;
Products becoming increasingly sophisticated and technical; and
The need to integrate strategic acquisitions.
With these external and internal factors, Group Risks 2013 Strategic Priorities were:
MEDIUM TERM
Enhance and Integrate
Optimising and integrating risk into the business to drive value creation for the Group
Enhancing overall risk frameworks,
systems and processes
Continue to drive process improvements
across all risk frameworks, systems
and processes to deliver value-added
services to the business in a cost efective
manner and enhance our stakeholder
engagements.
Improve risk-informed pricing decisions
and performance.
Embed Risk Appetite across all Group
entities.
Create and embed the Right Risk Culture.
Reduce the cost structure of our balance
sheet.
Optimise the capital across the Group.
Improving the Risk-Reward dynamics
across the Group
Optimising capital and liquidity
management across the Group
RISK GOVERNANCE
In accordance to the Groups structure and regionalisation aspirations, the Group continuously enhances its integrated risk management approach towards the
efective management of enterprise-wide risks. The Group views the overall risk management process with a structured and disciplined approach to align strategies,
policies, processes, people and technology with the specifc purpose of evaluating all risk types in line with enhancing shareholder value.
RISK
MANAGEMENT
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Board of Directors
The Board of Directors is the Groups ultimate governing body, which has overall risk oversight responsibility. It approves the risk management framework, risk
appetite, plans and performance targets for the Group and its principal operating subsidiaries, the appointment of senior ofcers, the delegation of authorities
for credit and other risks, and the establishment of efective control procedures.
Risk Management Committee (RMC)
The RMC is a dedicated Board Committee responsible for the risk oversight function within the Group. It is principally responsible to review and approve key risk
frameworks and policies for the various risks.
Credit Review Committee (CRC)
The CRC is tasked by the Board to review/concur/veto fresh or additional loan applications subject to pre-determined authority limits as recommended by the
Group Management Credit Committee.
Risk Governance Structure
Group Executive Risk Committee
(ERC)
Tools
System &
Architecture
Standards Strategy Processes Reports
Organisation &
Governance
People & Culture
Group Operational Risk
Management Committee (GORMC)
Group Asset & Liability Management
Committee (ALCO)
Group Management Credit
Committee (GMCC)
The ERC, GORMC, ALCO and GMCC are Executive Level Management Committees responsible for the management of all material risks within the Group.
The scope of ERC encompasses all risk types, whilst the GORMC caters specifcally to operational risk matters. The ALCO is primarily responsible for the
development and implementation of broad strategies and policies for managing the consolidated balance sheet and associated risks. The GMCC is empowered as
the centralised loan approval committee for the Group.
Risk Committees set strategic direction and priorities of the risk management programme and internal controls.
Group Risk provides analysis and reporting to oversight and central agencies, develops policy and prioritises day-to day activities.
Policy Risk Managers oversee risk assessments, trainings and tools, facilitation, information management and reporting.
Board Level Committees
Executive Level Management Committees
ERM ROLES AND FUNCTIONS
Risk Management Framework
Key components of the Enterprise Risk Management (ERM) framework include:
In line with the ERM approach, the Group has adopted and consistently practices the Seven Broad Principles of Risk Management to ensure integration of purpose,
policy, methodology and systems across its regional footprint.
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Maybank Groups Seven Broad Principles of Risk Management
The Seven Broad Principles defne the key principles on accountability, independence, structure and scope.
Principles
1. The risk management approach is premised on three lines of defence risk-taking units, risk control units and internal audit.
2. The risk-taking units are responsible for the day-to-day management of risks inherent in their business activities, while the risk control units are responsible for
setting up risk management frameworks and developing tools and methodologies for the identifcation, measurement, monitoring, control and pricing of risk.
Complementing these is internal audit, which provides independent assurance of the efectiveness of the risk management approach.
3. Risk management provides risk oversight for the major risk categories including credit risk, market risk, liquidity risk, operational risk and other industry-specifc
risks.
4. Risk management ensures that the core risk policies of the Group are consistent, sets the risk tolerance levels and facilitates the implementation of an integrated
risk-adjusted measurement framework.
5. Risk management is functionally and organisationally independent of the business sectors and other risk-taking units within the Group.
6. The Board, through the Board Risk Management Committee, maintains overall responsibility for risk oversight within the Group.
7. Risk management is responsible for the execution of various risk policies and related business decisions empowered by the Board.
The key strategic initiatives undertaken by the Group this year to accomplish the
risk transformation that we have envisaged are highlighted below.
STRATEGY
Enhance Risk Adjusted Performance Measurements (RAPM)
The Group continues to enhance the RAPM methodology and further embed
RAPM measurement and risk-informed pricing into management/customer
processes.
Driving Value from Risk-Informed Pricing
In demonstrating risk management as a key strategic diferentiator for the
Group, we have strengthened our RAPM process to drive improved risk-reward
dynamics. We have operationalised our risk-informed pricing across the Group
and instilled greater discipline in our pricing based on appropriate risk-reward
thresholds.
Our initiative is in line with regulatory expectation as per the Risk-Informed
Pricing guideline issued by Bank Negara Malaysia (BNM). We believe there is
greater advocacy on the standards that defne the responsibilities of fnancial
service providers to adopt the risk-informed approach in the pricing of retail
loan/fnancing products. This is to ensure that decisions on retail loan/
fnancing pricing are consistent with the approved risk appetite. Presently,
fnancial service providers should clearly defne risk measurement and pricing
mechanisms as well as control their costs in order to meet proft maximisation
objectives. The guideline highlights prudential standards in the following areas:
Expectations of the Board of Directors and internal policies for loan/
fnancing pricing; and
Minimum pricing components to be incorporated in the loan/fnancing
pricing and supervisory expectations on the methodology used for the
estimation of these components.
With the objective of remaining competitive and delivering adequate
returns to the shareholders, fnancial service providers are required
to scrutinise their operations to ensure that their earning assets are
efectively deployed. In this context, proper pricing of loans/fnancing is
now becoming crucial from business and regulatory perspectives.
Group Risk is committed to continuously embed and enhance the risk-
informed pricing across the Group to improve our performance. The
observed benefts derived from this initiative are as follows:
Enables an institution to know early on the type of pricing/fees that
will satisfy its risk/return preferences;
Enhances shareholder value by ensuring that risks associated with the
transaction are appropriately measured and priced; and
Enhances the achievement of credit portfolio goals and objectives.
Align Our Risk Appetite
The Group has successfully embedded a Risk Appetite Framework across
the Bank, our major subsidiaries and key branches. The Risk Appetite
Framework defnes our risk capacity, establishes and regularly confrms
our risk appetite, translates risk appetite into risk limits and tolerances as
guidance, and regularly measures and evaluates our risk profle.
A key element of the Risk Appetite Framework is a set of Board-approved
Risk Appetite Statements (RAS) that defne the boundaries and drivers that
the Group has chosen to limit or otherwise infuence the amount of risk it
is willing to take. The Groups Risk Appetite Framework and RAS were frst
approved by the Board in 2011 and have since been reviewed and updated
annually.
The goal of risk management is not to eliminate risk, but to manage
it efectively to provide our stakeholders with long term returns that
commensurate with the risk. Hence, The Groups RAS, is in essence, the
Board and Senior Managements statement of intent and posture on its
risk-taking activities as well as the management of it.
RISK
MANAGEMENT
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Risk Appetite defnes the quantum of risk the Group is willing to accept
based on its chosen business model, target rating, target share price, etc.
Risk Taking Capacity (RTC) is the maximum amount of risk the
Groups capital base is able to withstand, which is in turn linked to
its limit setting, etc.
The desired Risk Profle of the Group will be managed
through the limits set.
The Groups actual Risk Profle utilisation
of limits.
Risk Appetite Building Blocks
Risk
Appetite
Risk Taking Capacity
Target Risk Profle
Actual Risk Profle
Balancing Risk Strategy and Business Strategy
From an organisational perspective, the Risk Appetite links the Groups risk
strategy to the business strategy through desired target ratings (solvency),
earnings volatility and risk limits, among other factors. The process of
developing the RAS has been integrated into the Groups annual budget and
business planning cycle as we continue to ensure that our risks, returns and
capital are managed on an integrated basis.
The Risk Appetite setting process has also put in place the concept of Risk
Posture, which is a description of the business willingness to take risk
considering internal and external factors and is forward-looking. The Risk
Posture will be determined by the business strategy, which in turn will drive
the Groups risk-taking capacity and fnally the setting of the RAS.
Enhance Risk Culture
Risk Culture is defned by the Institute of International Finance (IIF) as the
norms and traditions of behaviour of individuals and of groups within an
organisation which determine the way in which they identify, understand,
discuss and act on the risks the organisation confronts and assumes.
We view Risk Culture as the foundation upon which a strong enterprise wide
risk management framework is built and it is an essential building block for
efective risk governance. The Risk Culture Index aimed at measuring our
current state of risk culture across the Group was successfully launched in
the fourth quarter of 2012. The survey results were cascaded to the Board,
Group Executive Committee, Management Committees, Strategic Business
Units and entities throughout the Group in 2013.
Arising from the survey results, specifc action plans and initiatives have been
developed and operationalised across the Group in 2013. At the industry
level, strong advocacy on embracing the Right Risk Culture is demonstrated
by our active participation as a key member in the IIFs Efective Supervision
Advisory Group on issuing the Financial Stability Board Guidance on Risk
Culture. We endeavour to continuously embed the Right Risk Culture across
the Group in complementing our sustainable growth with a responsible and
risk-aware manner.
PEOPLE
Institutionalise our Talent Management Blueprint
The Group has developed a comprehensive risk talent management blueprint
to clearly articulate core risk competencies required by our risk professionals.
The blueprint has been successfully rolled-out to the key business units and
subsidiaries in December 2013.
The Group has re-designated its Internal Assessment of the Core Credit
Personnel Programme to Maybank Internal Credit Accreditation Programme
(MICAP) to better refect the credit role. The MICAP was fully implemented
to the relevant sectors domestically during the year while Maybank
Cambodia was the frst overseas unit to implement this programme in July
2013. The programme will also be rolled-out to Maybank Hong Kong and
Maybank Philippines Incorporated in the third quarter of 2014, with the
rest of the Group by 2015. The programme is aimed to strengthen our credit
origination and positively impact overall asset quality across the Group upon
implementation.
In our continued efort to up-skill risk management resources, the Annual Risk
Masterclass was held successfully for the third consecutive year. Various risk
subject matter experts from across the Group were engaged to share their
knowledge covering multiple risk management topics and current risk trends.
PROCESS
Establish Centres of Excellence (COEs)
During the fnancial year, Group Risk functions were reorganised to create
risk centres of excellence to drive efciency. The COEs were established to
build deep specialisation of risk professionals, to provide value-added risk
insights to support business decision-making and increase economies of
scale to drive down the cost of delivery.
The identifed COEs have also set consistent standards in terms of enterprise
risk reports, risk policy architecture and risk modelling implementation
across the Group.
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Institutionalise Shariah Compliance
Shariah principles are the foundation for the practice of Islamic fnance
through the observance of the tenets, conditions and principles prescribed by
Shariah as resolved by BNM's and Securities Commissions Shariah Advisory
Council (SAC) and the Shariah Committee of Maybank Islamic Berhad.
Comprehensive compliance with Shariah principles in the Islamic business
activities and operations will lend confdence to stakeholders.
In accordance to BNMs regulatory requirements, the Group has implemented
a comprehensive Shariah Governance Framework to ensure efective and
efcient oversight by the Board of Directors, Board Committees and the
Shariah Committee on the business activities and operations of Islamic
products and services carried out by the Groups Islamic banking businesses.
Enhance Key Risks Early Warning Systems
The Group has instituted a process to identify the emerging risks. The
process includes:
Conducting scenario planning exercises;
Assessing the risks according to likelihood and impact for the next fve
years; and
Utilising the results for our stress testing, capital management and limit
setting.
On top of managing the emerging risks, the respective countries and
business risk teams are developing key risk indicators that are forward-
looking for efective identifcation of risk.
Enhance Regulatory Management
Group Risk has formulated strategies to further improve our regulatory
rating. Implementation of the strategic initiatives and areas for improvement
are currently on-going.
The Group is diligent in its pursuit to adopt The Standardised Approach (TSA)
for Operational Risk Capital Charge Calculation. The use of TSA is subject
to BNMs approval. For this purpose, the Group has mapped its business
activities into eight business lines as prescribed by Basel II and the BNM Risk-
Weighted Capital Adequacy Framework.
The Group is in preparation to meet the Basel III regulatory requirements on
capital and liquidity compliance.
Enhance Capital & Liquidity Techniques
The Groups approach to capital management is driven by its strategic
objectives and takes into account all the relevant regulatory, economic and
commercial environments in which the Group operates. The Group regards
having a strong capital position as essential to the Groups business strategy
and competitive position. As such, implications on the Groups capital
position are taken into account by the Board and senior management prior
to implementing major business decisions in order to preserve the Groups
overall capital strength.
The Groups key thrust of capital management and planning are to diversify
its sources of capital; to allocate and deploy capital efciently guided by
the need to maintain a prudent relationship between available capital and
the risks of its underlying businesses; and to meet the expectations of key
stakeholders, including investors, regulators and rating agencies.
The Groups capital management is guided by the Group Capital
Management Framework to ensure consistency and alignment of capital
management policies and procedures across the Group. The Group Capital
Management Framework, which is approved by the Board, applies across the
Group and its entities.
Liquidity risk appetite is approved by the RMC while ERC and ALCO are
responsible for the overall operational implementation and controls that
are guided by the approved liquidity risk management framework and
policy.
The Group runs liquidity stress scenarios to assess the areas of
vulnerability and determines its funding capacity and adequacy for
normal and stressed market situations. The Group also activates its
Contingency Funding Plan (CFP) to avert any potential liquidity disasters
afecting its liquidity soundness and fnancial solvency.
In line with leading practices, the Group is preparing to meet the Basel
III Liquidity Coverage Ratio (LCR) compliance by 1 January 2015 while
considering the requirements for the Net Stable Funding Ratio (NSFR),
which comes into efect from 1 January 2018.
Risk-Weighted Assets (RWA) Optimisation
The RWA Optimisation Programme (ROP) was designed as a collaborative
efort between Group Risk and the Business to implement various
initiatives to optimise the Groups RWA, as part of our continuous capital
management process.
The ROP continues to optimise the Groups RWA through the following
key determinants:
Business model impact on risk profle such as loan origination and
strategic business focus;
Risk management approaches to calculate credit, market and
operational risk, regular review of risk models and methods;
Processes the direct and indirect impacts on RWA covering front
and back ofce operations such as proactive management of stale
ratings; and
Collateral management.
SYSTEMS
Risk Technology Architecture
There is a growing need to derive a holistic view of the risk landscape
both from a business and technology perspective. Moving forward,
the Group will adopt the business driven risk architecture to improve
management of key risks across the enterprise. The enterprise-wide
solution to cater for the unique requirement of each business user would
promote speed to market for business and regulatory changes as well as
enable business process optimisation.
Strong strategic alignment between risk and business would enhance the
Groups risk management through the provision of timely, accurate and
informative approach for forward-looking analytics. Some key benefts
from a robust IT architecture are:
Business process efciency;
Single source of risk information;
Flexible platform to carry out business impact analysis; and
Lesser time to respond to regulatory requirements or business
changes.
For our awards and recognition, refer to page 63.
RISK
MANAGEMENT
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STRATEGIC INITIATIVES FOR 2014
Against the backdrop of an improving global economy and further regulatory reforms, banks will be competing to beneft from the recovery of developed markets, adapt
to new regulatory landscapes and also take advantage of the next wave of expansion in rapid-growth markets. Moving forward, there is an increased need for Group Risk
to further enhance and fully integrate into our business to work more efectively to value-add across the Group.
Hence in 2014, Group Risk will be embarking on the following strategic themes to align with the Group in order to accelerate our value creation eforts.
Collaboration and Innovation
Strengthen Group Risk's role as a business
partner across the Group.
Enhance relationship management with
stakeholders across the Group.
Regionalise risk resources, systems,
frameworks and processes.
Ensure seamless provision of risk
management across the Group.
Optimise resources efectively and
efciently across the Group.
Improve synergies within the business by
utilising risk management as a competitive
advantage to optimise returns.
Ensure constant improvement of
processes for better efciency.
Risk Regionalisation Optimisation and Efciency
Based on the strategic themes above, we have identifed the following key initiatives for 2014 with the ultimate objective to establish a regional platform for risk
management to enable scalability and alignment of risk management practices across the Group. As we continue with our journey of regionalisation, we believe that
the successful implementation of these initiatives will propel Group Risk further towards achieving the Groups regional aspirations.
Please refer to Basel II Pillar 3 Disclosure for detailed disclosures on Risk Management.
Link the Risk Appetite statement setting process with budget and business planning.
Ensure the Risk Appetite framework and process are embedded across the Group.
Fortify Risk Managements
Role in Strategic Decisions
1
Build up Group Risks research and knowledge capabilities to provide better support across the Group.
Continue to build deep specialisation of risk professionals to provide value-added risk insights to support the
business across the Group.
Enhance Group Risks
Research and Knowledge Base
2
Enhance relationship with the regulatory authorities locally and across region, and to be more proactive in
managing and participating in the regulations discussions.
Improve Regulatory
Management
3
Develop a Group-wide Risk IT architecture to support the Groups regional aspirations.
Consolidate stand-alone systems to a regional risk operating platform.
Develop a Group Risk IT
Architecture
4
Accelerate and streamline risk management practices across the Group.
Ensure clarity and consistency of risk practices to support regional business across the Group.
Embed Centres of Excellence.
Accelerate Regionalisation
Initiatives
5
Continue to ensure that the Right Risk Culture is embedded across the Group.
Continue to improve the Risk Culture Index scoring.
Entrench the Right Risk
Culture Behaviour and Risk
Awareness Across the Group
6
Leverage on Group Risks regional structure to optimise the risk resources across the Group and provide
seamless risk management to the business.
Develop a regional talent competency framework and reduce competency gaps.
Enhance our Talent
Management Blueprint
Across the Group
7
Optimise our cost structure through RWA optimisation and balance sheet management.
Continue to enhance our liquidity management techniques and meet regulatory requirements.
Optimise Capital and
Liquidity Practices
8
Institutionalise risk-informed pricing across the Group.
Improve key risks early warning systems as part of risk reporting.
Enhance and automate key risk processes to facilitate better risk-reward analysis.
Enhance our risk analytics to work better with the business to optimise returns to the Group.
Enhance the Groups
Risk-Reward Analytics and
Dynamics
9
Enhance our credit quality processes including key measures to enhance the monitoring and reporting of credit
encompassing Process, People and Systems.
Leverage on the new Group Risk structure to provide seamless risk management to the business across the
Group.
Improve Risk Processes 10
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GROUP
COMPLIANCE
CORPORATE INTEGRITY PLEDGE
Maybank, which was the frst fnancial institution in Malaysia to sign the
Malaysian Corporate Integrity Pledge in August 2011, continued with its
commitment in supporting and upholding the Anti-Corruption Principles
for Corporations in Malaysia.
The Pledge is as a result of a collaborative efort among:
Bursa Malaysia Berhad;
Companies Commission of Malaysia;
Malaysian Institute of Integrity;
Malaysian Anti-Corruption Commission and National Key Result Area (NKRA) Corruption Monitoring & Coordination Division;
Securities Commission Malaysia; and
Transparency International Malaysia and the Performance Management and Delivery Unit (PEMANDU), Prime Ministers Ofce.
The Integrity Hotline (previously known as Fraud Reporting Hotline), which has been implemented since 2004, allows employees to report actual or suspected
misconduct through a secure and confdential channel.
All employees can raise their concerns regarding any misconduct or wrongdoing such as fraud, criminal activities, dishonesty and malpractice committed by another
employee or any person who has dealings with the Group via the Toll-Free Message Recording Line, Protected Email Address and Secured P.O. Box Mail Address.
The above mechanism protects employees considering blowing the whistle against victimisation and harassment. Confdentiality of all matters raised and the identity
of the whistle-blower are protected. Concerns which are raised anonymously will also be considered provided they are clear and specifc.
PERSONAL DATA PROTECTION ACT 2010 PROJECT
The Group has embarked on a project to implement the requirements specifed under the Malaysias Personal Data Protection Act 2010 (PDPA). This project, which
started in May 2012, is jointly led by Group Compliance and Group Tax to ensure that the entire Group complies with the requirements.
PDPA was introduced to regulate the processing of personal data used during commercial transactions by data users (i.e. Maybank Group) to safeguard the interests of
data subjects (i.e. Maybank Group's customers). The Act defnes commercial transactions as any transaction of a commercial nature, whether contractual or not, which
includes any matters relating to supply or exchange of goods and services, agency, investments, fnancing, banking and insurance. The Act was gazetted on 14 November
2013 and came into force on 15 November 2013.
The frst step in complying with PDPA is to register with the Jabatan Perlindungan Data Peribadi Malaysia (JPDPM), the governing body under the Ministry of
Communications and Multimedia regulating PDPA in Malaysia. The Group takes pride in being the frst entity in Malaysia to register with JPDPM.
Customer privacy has been and will always remain our top priority. With the enforcement of PDPA, the Group will continue to enhance our internal processes, policies
and systems to ensure that the personal data of our customers remain confdential and protected at all times.
Among the activities undertaken by the PDPA project team are as follows:
Issued Privacy Notice to all customer touch points to spell out customers rights and the Groups obligation under the Act.
Incorporated Maybank Group PDPA Policy and other internal policies necessary to Maybanks internal processes and procedures to ensure that all staf adheres
strictly to the requirements of PDPA.
Strengthened the Groups internal systems to ensure that customers consents are well managed. We respect our customers request not to receive marketing
communications from our Maybank Group of companies.
Enhanced our internal systems to provide customers access to their personal data that resides in our systems. This exercise will comply with the Access Principle
under PDPA.
The Group aspires to be fully compliant with the requirements of PDPA as per the timeline set by JPDPM.
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COMPLIANCE MANAGEMENT FRAMEWORK
The Maybank Board and its Senior Management continue to demonstrate their commitment towards efective compliance and Anti-Money Laundering and Counter
Financing of Terrorism (AML/CFT) programmes.
The Group continues to adhere to the requirements of relevant laws, rules, regulations and regulatory guidelines. The Groups commitment is clearly demonstrated
through the establishment of strong compliance policies and guidelines, which includes AML/CFT practises, to ensure that the Groups non-compliance risks are
efectively managed. Such measures help lower the cost of doing business arising from regulatory penalties, AML/CFT investigations and cases, as well as protecting
the Groups integrity and reputation.
In demonstrating our commitment to combat money laundering and fnancing of terrorism activities, we have embedded Compliance Ofcers at all local, overseas
and subsidiary units while Group Compliance is tasked of ensuring that the Group as a whole complies with applicable laws, rules, regulations and regulatory
guidelines.
The Group will remain vigilant over the level of compliance, which includes AML/CFT rules and measures, at the business/support sectors. Compliance review and
thematic examinations on the Groups operation will be carried out as usual to ensure compliance with applicable laws, rules, regulations, regulatory guidelines and
standards. This approach complements the business/support sector in achieving a good rating from internal/external audits and regulators. It is Group Compliances
practise to take an advisory and consultative approach during these reviews with minimal disruption to the business operations.
Group Compliance will also reinforce its involvement in specifc compliance and AML/CFT training and certifcation programmes to remain robust. We conduct
learning initiatives and awareness programmes throughout the year to mitigate any compliance gaps and embed a compliance culture across the Group.
The respective Boards of all Group entities are provided with compliance status reports on a regular basis. Thus, the Board and Senior Management of the Group are
aware and will continue to maintain adequate oversight of the compliance and AML/CFT measures undertaken by the Group.
During the fnancial year of 2013, Group Compliance achieved some milestones in meeting regulatory requirements, as listed below:
Participated in dialogue and communication sessions with Bank Negara Malaysia (BNM) and Compliance Ofcers Networking Group pertaining to Financial
Services Act 2013, Islamic Financial Services Act 2013 and Guidelines on AML/CFT for Banking & Deposit-Taking Institutions (Sector 1);
Appointed a Member of the Groups Secretariat for Competition Act 2010;
Revised the Groups AML/CFT Policy, incorporating refned requirements from BNM as well as incorporating the Financial Action Task Force current
requirements;
Led the industry in an attempt to comply with the Personal Data Protection Act 2010. The Groups serious commitment is evident as we were acknowledged as
The First Organisation in Malaysia to register as Data Users with JPDPM; and
Led the Group towards complying with the Foreign Account Tax Compliance Act 2010.
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ANALYSIS OF
SHAREHOLDINGS
as at 10 February 2014
Authorised Share Capital : 10,000,000,000
Paid-Up Share Capital : 8,863,261,481
Class of Shares : Ordinary Share of RM1 each
Voting Right : 1 vote per Ordinary Share
Size of Shareholdings No. of Shareholders % of Shareholders No. of Shares Held % of Issued Capital
Less than 100 3,858 6.43 135,135 0.00
100 to 1,000 shares 12,308 20.54 7,811,485 0.09
1,001 to 10,000 shares 32,538 54.29 113,684,068 1.28
10,001 to 100,000 shares 9,510 15.87 253,850,496 2.86
100,001 to less than 5% of issued shares 1,714 2.86 3,334,073,522 37.62
5% and above of issued shares 3 0.01 5,153,706,775 58.15
TOTAL 59,931 100.00 8,863,261,481 100.00
SUBSTANTIAL SHAREHOLDERS AS PER THE REGISTER OF SUBSTANTIAL SHAREHOLDERS
No. Name of Shareholders No. of Shares Held % of Shares
1. AmanahRaya Trustees Berhad
(B/O: Skim Amanah Saham Bumiputera)
3,429,987,458 38.70
2. Citigroup Nominees (Tempatan) Sdn Bhd
(B/O: Employees Provident Fund Board)
1,219,913,237 13.76
3. Permodalan Nasional Berhad 503,806,080 5.68
TOP THIRTY SHAREHOLDERS AS PER THE RECORD OF DEPOSITORS
(B/O: Skim Amanah Saham Bumiputera)
3,429,987,458 38.70
(B/O: Employees Provident Fund Board)
1,219,913,237 13.76
3. Permodalan Nasional Berhad 503,806,080 5.68
4. Lembaga Kemajuan Tanah Persekutuan (FELDA) 186,179,241 2.10
5. Kumpulan Wang Persaraan (Diperbadankan) 176,039,559 1.99
(B/O: Amanah Saham Wawasan 2020)
146,773,860 1.66
7. Cartaban Nominees (Asing) Sdn Bhd
(B/O: Exempt AN for State Street Bank & Trust Company (West Clt OD67))
138,245,275 1.56
(B/O: Amanah Saham Malaysia)
120,447,470 1.36
9. HSBC Nominees (Asing) Sdn Bhd
(B/O: Exempt AN for JPMorgan Chase Bank, National Association(U.S.A))
82,096,923 0.93
(B/O: BBH and Co Boston for Vanguard Emerging Markets Stock Index Fund)
79,459,588 0.90
11. Cartaban Nominees (Tempatan) Sdn Bhd
(B/O: Exempt AN for Eastspring Invesments Berhad)
68,689,678 0.77
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(B/O: GIC Private Limited for Government of (Singapore (C))
68,254,212 0.77
13. Malaysia Nominees (Tempatan) Sendirian Berhad
(B/O: Great Eastern Life Assurance (Malaysia) Berhad (Par 1))
63,282,289 0.71
(B/O: Exempt AN for the Bank of NewYork Mellon (Mellon Acct))
61,824,031 0.70
(B/O: AS 1Malaysia)
55,008,974 0.62
16. Lembaga Tabung Angkatan Tentera
54,390,900 0.61
(B/O: Exempt AN for JPMorgan Chase Bank, National Association (Saudi Arabia))
48,397,078 0.55
(B/O: Exempt AN for JPMorgan Chase Bank, National Association (U.A.E.))
48,387,027 0.54
(B/O: HSBC BK Plc for Saudi Arabian Monetary Agency)
41,871,541 0.47
(B/O: Exempt AN for AIA Bhd.)
41,265,023 0.47
21. Valuecap Sdn Bhd
36,175,900 0.41
(B/O: Exempt AN for JPMorgan Chase Bank, National Association (Norges BK Lend))
35,088,067 0.40
(B/O: Employees Provident Fund Board (NOMURA))
30,697,125 0.35
24. Maybank Nominees (Tempatan) Sdn Bhd
(B/O: MaybankTrustees Berhad for Public Regular Savings Fund (N14011940100)
27,736,307 0.31
(B/O: Exempt AN for JPMorgan Chase Bank, National Association (Netherlands)
25,300,904 0.29
(B/O: RBC Investor Services Bank for Vontobel Fund - Emerging Markets Equity)
24,422,453 0.28
27. Pertubuhan Keselamatan Sosial
24,217,093 0.27
(B/O: Exempt AN for JPMorgan Chase Bank, National Association (U.K.))
22,959,451 0.26
29. Citigroup Nominees (Asing) Sdn Bhd
(B/O: Legal & General Assurance (Pensions Management) Limited (A/C 1125250001))
22,415,056 0.25
(B/O: BNY Brussels for Wisdomtree Emerging Markets Equity Income Fund)
21,619,125 0.24
TOTAL 6,904,950,925 77.91
TOP THIRTY SHAREHOLDERS AS PER THE RECORD OF DEPOSITORS (CONT'D.)
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CLASSIFICATION OF
SHAREHOLDERS
as at 10 February 2014
CHANGES IN
SHARE CAPITAL
No. of Shareholders No. of Shareholdings % of Total Shareholdings
Category Malaysian Foreign Malaysian Foreign Malaysian Foreign
INDIVIDUAL
a. Bumiputera 3,091 22,811,384 0.26
b. Chinese 40,080 294,846,555 3.33
c. Indian 1,592 10,020,627 0.11
d. Others 243 2,050 1,730,355 46,819,382 0.02 0.53
BODY CORPORATE
a. Banks/Finance 69 2 4,561,055,950 424,000 51.46 0.00
b. Investment/Trust 11 13,293,605 0.15
c. Societies 15 446,779 0.01
d. Industrial 693 50 80,066,991 18,589,142 0.90 0.21
GOVERNMENT AGENCIES/
INSTITUTION 14 246,524,002 2.78
NOMINEES 8,750 3,270 1,743,266,537 1,823,287,802 19.67 20.57
OTHERS 1 78,370 0.00
TOTAL 54,559 5,372 6,974,141,155 1,889,120,326 78.69 21.31
AUTHORISED SHARE CAPITAL
The present authorised share capital of the Bank is RM10,000,000,000 divided into 10,000,000,000 ordinary shares of RM1-00 each. Details of changes in its
authorised share capital since its incorporation are as follows :-
Date
Increase in Authorised
Share Capital
Total Authorised
Share Capital
31-05-1960 20,000,000 20,000,000
06-09-1962 30,000,000 50,000,000
09-04-1977 150,000,000 200,000,000
17-01-1981 300,000,000 500,000,000
06-10-1990 500,000,000 1,000,000,000
09-10-1993 1,000,000,000 2,000,000,000
19-06-1998 2,000,000,000 4,000,000,000
11-08-2004 6,000,000,000 10,000,000,000
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ISSUED AND PAID-UP SHARE CAPITAL
Details of changes in the Bank's issued and paid-up share capital since its incorporation are as follows:-
Date of Allotment
No. of Ordinary
Shares Allotted
Par Value
RM Consideration
Resultant Total Issued
and Paid-Up Capital
RM'000
31-05-1960 1,500,000 5.00 Cash 7,500,000
18-05-1961 500,000 5.00 Cash 10,000,000
31-05-1962 1,000,000 5.00 Rights Issue (1:2) at RM7.00 per share 15,000,000
04-01-1971 22,500,000 1.00* Rights Issue (1:1) at RM1.50 per share 45,000,000
06-05-1977 15,000,000 1.00 Capitalisation of Share Premium Account (Bonus Issue 1:3) 60,000,000
31-11-1985 68,249 1.00 Conversion of Unsecured Notes 270,068,249
15-11-1986 9,199,999 1.00 Issued in exchange for purchase of Kota Discount Berhad
(Now known as Mayban Discount Berhad)
279,268,248
29-07-1987 to 20-10-1987 90,000 1.00 Exercise of Employees' Share Option Scheme ("ESOS") 279,368,798
16-03-1989 to 21-06-1989 9,198,206 1.00 Exchange for Kwong Yik Bank Berhad ("KYBB") shares 316,527,716
11-07-1989 to 23-11-1989 7,555,900 1.00 Exercise of Employees' Share Option Scheme ("ESOS") 324,083,616
30-11-1989 46,174,316 1.00 Conversion of Unsecured Notes 370,257,932
01-12-1989 to 24-10-1990 4,508,900 1.00 Exercise of Employees' Share Option Scheme ("ESOS") 374,766,832
27-11-1990 11,550 1.00 Exercise of Employees' Share Option Scheme ("ESOS") 562,161,798
03-01-1991 3,300 1.00 Exercise of Employees' Share Option Scheme ("ESOS") 562,445,595
04-01-1991 4,950 1.00 Rights Issue (1:2) upon ESOS at RM5.00 per share 751,441,547
25-01-1991 to 28-11-1991 726,000 1.00 Exercise of Employee's Share Option Scheme ("ESOS") 752,167,547
30-11-1991 35,197 1.00 Conversation of Unsecured Notes 752,202,744
11-12-1991 to 20-05-1992 5,566,000 1.00 Exercise of Employee's Share Option Scheme ("ESOS") 757,768,744
30-11-1992 to 30-11-1993 3,153,442 1.00 Conversion of Unsecured Notes 760,922,186
18-01-1994 380,461,093 1.00 Capitalisation of Share Premium Account (Bonus Issue 1:2) 1,141,383,279
29-12-1994 2,030,428 1.00 Conversion of Unsecured Notes 1,143,413,707
19-06-1998 1,143,413,707 1.00 Capitalisation of Share Premium and Retained Proft Account
(Bonus Issue 1:1)
2,286,827,414
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CHANGES IN
SHARE CAPITAL
Date of Allotment
No. of Ordinary
Shares Allotted
Par Value
RM Consideration
Resultant Total Issued
and Paid-Up Capital
RM'000
21-09-1998 to 09-10-2001 72,909,000 1.00 Exercise of Employees' Share Option Scheme ("ESOS") 2,359,736,414
23-10-2001 1,179,868,307 1.00 Capitalisation of Retained Proft Account (Bonus Issue 1:2) 3,539,604,721
20-02-2008 976,057,505 1.00 Capitalisation of Share Premium Account (Bonus Issue 1:4) 4,880,287,526
27-02-2008 to 30-10.2008 859,625 1.00 Exercise of Employees' Share Option Scheme ("ESOS") 4,881,147,151
27-04-2009 2,196,516,217 1.00 Rights Issue (9:20) at RM2.74 per share 7,077,663,368
29-07-2009 to 26-08-2009 319,400 1.00 Exercise of Employees' Share Option Scheme ("ESOS") 7,077,982,768
20-12-2010 244,257,623 1.00 Dividend Reinvestment Plan ("DRP") at RM7.70 per share 7,322,240,391
05-07-2011 to 09-12-2011 10,000 1.00 Exercise of Employees' Share Scheme ("ESS") 7,478,216,067
28-06-2012 to 08-10-2012 12,233,400 1.00 Exercise of Employees' Share Scheme ("ESS") 7,854,536,702
11-10-2012 412,000,000 1.00 Private Placement 8,266,536,702
* The par value of the Bank's shares was changed from RM5.00 to RM1.00 on 25 November 1968
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PROPERTIES OWNED BY
MAYBANK GROUP
as at 31 December 2013

Book Value as
No. of Properties
Land Area

at 31.12.2013

Area Freehold Leasehold (sq. m.) RM'000

Maybank
Kuala Lumpur 11 13 48,546.58 192,942
Johor Darul Takzim 29 9 18,399.86 53,363
Kedah Darul Aman 11 5 6,111.83 9,168
Kelantan Darul Naim 1 4 1,691.00 2,541
Melaka 1 4 3,253.00 4,868
Negeri Sembilan Darul Khusus 11 5 23,469.20 7,746
Pahang Darul Makmur 9 14 16,053.74 11,122
Perak Darul Ridzuan 13 11 10,299.85 16,128
Perlis Indera Kayangan 1 3 1,475.00 1,524
Pulau Pinang 22 3 13,421.52 23,190
Sabah - 17 14,276.92 24,067
Sarawak 9 13 6,625.57 18,756
Selangor Darul Ehsan 24 18 104,268.87 121,466
Terengganu Darul Iman 6 2 4,329.00 4,236
Hong Kong - 2 193.00 HKD1,066
London 1 5 1,215.00 GBP4,269
Singapore 11 12 20,858.00 SGD98,992

Aurea Lakra Holdings Sdn Bhd
(Formerly known as Mayban P.B. Holdings Sdn Bhd)
Kuala Lumpur - 1 294.00 755
Johor Darul Takzim 2 1 1,330.00 2,234
Pahang Darul Makmur 1 2 595.42 941
Perak Darul Ridzuan 1 1 857.74 2,398
Pulau Pinang 1 - 445.93 731
Sabah - 1 257.62 1,059
Sarawak - 1 314.00 872

Maybank International (L) Ltd
W.P. Labuan - 3 1,089.81 USD182

Maybank Investment Bank Berhad
Negeri Sembilan Darul Khusus 1 2 549.25 402
Pahang Darul Makmur 1 1 229.11 289
Pulau Pinang 1 - 84.04 138
Perak Darul Ridzuan - 1 260.00 217

ETIQA
Kuala Lumpur 2 4 24,258.47 617,636
Johor Darul Takzim 1 - 286.00 615
Kedah Darul Aman 2 1 1,127.97 1,184
Melaka - 1 452.00 1,138
Negeri Sembilan Darul Khusus 3 1 1,659.64 2,675
Pahang Darul Makmur 1 2 18,334.57 2,921
Pulau Pinang 1 1 624.00 3,400
Sabah 1 1 222.22 2,105

Maybank Kim Eng
Singapore - 3 5,172.50 SGD153,025
USA - 1 167.22 USD1,300
Philippines - 3 1,550.00 Peso52,385
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Location Description Current Use Tenure
Remaining
Lease Period
(Expiry Date)
Age of
Building

Land Area
(sq.m.)
Year of
Acquisition
Net Book
Value
RM'000
Etiqa Twins
No.11
Jalan Pinang
Kuala Lumpur
27-storey Twin
Ofce Buildings
Ofce &
Rented out
Freehold - 18 years 6,612.00 1994 320,000
50 North Canal Road
Singapore
Ofce Building Ofce Leasehold 93 years
(expiring 2106)
2 years 1,283.30 2007 SGD89,199
Maybank Tower
2 Battery Road
Singapore
32-storey Ofce
Building
Ofce Leasehold
W999 years
812 years
(expiring 2825)
11 years 1,135.70 1962 SGD65,721
Dataran Maybank
No.1
Jalan Maarof
Bangsar
2 Blocks of
20-storey
and a block of
22-storey Ofce
Buildings
Ofce &
Rented out
Leasehold
99 years
72 years
(expiring
3.12.2085)
12 years 9,918.00 2000 128,417
Menara Maybank
100
Jalan Tun Perak
Kuala Lumpur
58-storey Ofce
Building
Head ofce &
Rented out
Freehold - 25 years 35,494.00 1978 117,900
Suntec #12, 13 & 39,
9 Temasek Boulevard,
#12-00 Suntec
Tower Two, Singapore
3 ofce units on
12, 13 & 39 foor
of a 45-storey
Ofce Buildings
Ofce Leasehold 75 years
(expiring 2088)
17 years 3,563.00 1989 SGD43,256
Lot 153
Section 44
Jalan Ampang
Kuala Lumpur
Commercial
Land
Vacant Freehold - - 3,829.00 2008 90,500
Akademi Etiqa
23, Jalan Melaka
Kuala Lumpur
25-storey Ofce
Building
Ofce &
Rented out
Leasehold
99 years
52 years
(expiring 2065)
17 years 1,960.47 1994 70,000
48 North Canal Road
Singapore
Ofce Building Ofce Leasehold 98 years
(expiring 2111)
1 year 326.20 2012 SGD20,569
1079,
Section 13
Shah Alam
Commercial
Land
Vacant Leasehold
99 years
89 years
(expiring
11.3.2102)
- 38,417.00 1994 46,000
LIST OF TOP 10 PROPERTIES
OWNED BY MAYBANK GROUP
as at 31 December 2013
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BOARD OF DIRECTORS
TAN SRI DATO MEGAT ZAHARUDDIN MEGAT
MOHD NOR
DPCM, PJN, PSM
Non-Independent Non-Executive Chairman
DATO MOHD SALLEH HJ HARUN
DSDK
Independent Non-Executive Vice Chairman
DMSM
Non-Independent Executive Director
(Group President & Chief Executive Ofcer)
(Appointed with efect from 2 August 2013)
DATO SRI ABDUL WAHID OMAR
SSAP, DSAP
Non-Independent Executive Director
(President & Chief Executive Ofcer)
(Resigned with efect from close of business on
4 June 2013)
TAN SRI DATUK DR HADENAN A. JALIL
PSM, PNBS, SIMP, DMSM, JMN, KMN, AMN
Independent Non-Executive Director
DATO SERI ISMAIL SHAHUDIN
SPMP
DATO DR TAN TAT WAI
PhD DMPN
ZAINAL ABIDIN JAMAL
Non-Independent Non-Executive Director
ALISTER MAITLAND
(Resigned with efect from 29 March 2013)
CHEAH TEIK SENG
DATO JOHAN ARIFFIN
DPTJ
DATUK MOHAIYANI SHAMSUDIN
PJN
ERRY RIYANA HARDJAPAMEKAS
(LS0008977)
Group General Counsel & Company Secretary
CORPORATE
INFORMATION
REGISTERED OFFICE
14th Floor, Menara Maybank
100, Jalan Tun Perak
Tel : (6)03-2070 8833
: 1300-88-6688 (Local)
(6)03 7844 3696
(Overseas)
(Maybank Group Customer
Care)
: (6)03-2074 8075
(Customer Feedback & Resolution
Management)
Fax : (6)03-2032 4775
(Group Performance Reporting &
Investor Relations)
: (6)03-2711 3421
(Customer Feedback &
Resolution Management)
: (6)03-2031 0071
(Group Corporate
Secretarial)
: 1300-88-8899 (Local)
(6)03-7845 9858 (Overseas)
(Maybank Group Customer
Care)
SWIFT : MBBEMYKL
Website : http://www.maybank.com
E-Mail : [email protected]
[email protected]

SHARE REGISTRAR
Malayan Banking Berhad
Tel : (6)03-2074 7822
Fax : (6)03-2072 0079
STOCK EXCHANGE LISTING
Main Market of Bursa Malaysia Securities Berhad
(Listed since 17 February 1962)
EXTERNAL AUDITORS
Ernst & Young (AF: 0039)
Chartered Accountants
Level 23A, Menara Milenium
Jalan Damanlela
Pusat Bandar Damansara
Tel : (6)03-7495 8000
Fax : (6)03-2095 9076/78
AGM Helpdesk
Tel : (6)03-2264 3883
(Tricor Investor Services Sdn Bhd)
: (6)03-2074 8256
(Group Corporate Secretarial,
Maybank)
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COMMERCIAL BANKING
Malayan Banking Berhad
50050 Kuala Lumpur
Tel : (6)03- 2070 8833
Fax : (6)03- 2031 0071
Corporate website : www.maybank.com
Email : [email protected]
Maybank Islamic Berhad
Level 10, Tower A
Dataran Maybank
No. 1, Jalan Maarof
59000 Kuala Lumpur
Tel : (6)03-2297 2001
Fax : (6)03-2297 2002
Website : www.maybankislamic.com.my
P.T. Bank Internasional Indonesia Tbk
Gedung Sentral Senayan 3, 26th Floor
JI. Asia Afrika No. 8
Senayan Gelora Bung Karno
Jakarta 10270
Indonesia
Tel : (62)-21-2922 8888
Fax : (62)-21-2922 8914
Website : www.bii.co.id
P.T. Bank Maybank Syariah Indonesia
1st-3rd Floor, Sona Topas Tower
Jl. Jend. Sudirman Kav. 26
Jakarta 12920
Indonesia
Tel : (62)-21-250 6446
Fax : (62)-21-250 6445
Corporate website : www.maybanksyariah.co.id
Maybank Philippines Inc.
Maybank Corporate Center
7th Avenue Corner 28th Street
Bonifacio Global City 1634
Taguig City, Metro Manila
Philippines
Tel : (632)-588 3777
Fax : (632)-808 2669
Website : www.maybank2u.com.ph
Maybank (PNG) Ltd
Port Moresby Branch
Corner Waigani Road/Islander Drive
P.O. Box 882 Waigani, National Capital District
Port Moresby
Papua New Guinea
Tel : (675)-325 0101
Fax : (675)-325 6128
Maybank ATR Kim Eng Capital Partners, Inc
8th, 9th, and 17th Floor, Tower One & Exchange
Plaza
Ayala Triangle, Ayala Avenue
Makati City, Philippines
Tel : (632)-849 8988 / 849 8888
Website : www.maybank-atrke.com
Maybank ATR Kim Eng Securities, Inc
9th, 16th and 17th Floor, Tower One & Exchange
Plaza
Ayala Triangle, Ayala Avenue
Makati City, Philippines
Tel : (632)- 849 8988 / 849 8888
Website : www.maybank-atrke.com
PT. Maybank Kim Eng Securities
Plaza Bapindo-Citibank Tower 17th Floor
Jl. Jenderal Sudirman Kav 54-55
Jakarta 12190 Indonesia
Tel : (62)-21-2557-1188
Fax : (62)-21-2557-1189
Website : www.kimeng.co.id
Kim Eng Securities (Hong Kong) Limited
Level 30, Three Pacifc Place
1, Queens Road East
Hong Kong
Tel : 852-2268 0800
Fax : 852- 2845 3772
Website : www.kimeng.com.hk
Kim Eng Securities India Private Limited
2nd Floor, The International
16, Maharishi Karve Marg
Churchgate, Mumbai 400 020
India
Tel : 91-22 6623 2600
Fax : 91-22 6623 2604
Maybank Kim Eng Securities Limited
(formerly known as Maybank Kim Eng Securities Joint Stock Company)
4A Floor-15+16, Vincom Center Dong Khoi,
72 Le Thanh Ton Street, Ben Nghe Ward, District 1,
Ho Chi Minh City, Vietnam
Tel : +84 8 44 555 888
Fax : +84 8 3827 1030
Website : maybank-kimeng.com.vn
GROUP
DIRECTORY
Maybank International (L) Ltd
Level 16 (B), Main Ofce Tower
Financial Park Complex
Jalan Merdeka
87000 Wilayah Persekutuan Labuan
Tel : (6)087-414 406
Fax : (6)087-414 806
Maybank (Cambodia) Plc.
No. 4B Street 114 (Kramoun Sar),
Sangkat Phsar Thmey 1,
Khan Daun Penh, Phnom Penh
Kingdom of Cambodia
Tel : (855)-23-210 123
Fax : (855)-23-210 099
Website : www.maybank2u.com.kh
INVESTMENT BANKING
Maybank Investment Bank Berhad
32nd Floor, Menara Maybank
50050 Kuala Lumpur
Tel : (6)03-2059 1888
Fax : (6)03-2078 4217
Website : www.maybank-ib.com
Maybank IB Holdings Sdn Bhd
32nd Floor, Menara Maybank
50050 Kuala Lumpur
Tel : (6)03-2059 1888
Fax : (6)03-2078 4217
Maybank Kim Eng Holdings Limited
Maybank Kim Eng Securities Pte. Ltd.
50, North Canal Road
#03-01, Singapore 059304
Tel : (65)- 6231 5000
Fax : (65)- 6339 6003
Website : www.maybank-ke.com.sg
Maybank Kim Eng Securities (Thailand) Public
Company Limited
999/9 The Ofces at Central World
20th-21st, 24th and 25th Floor Rama 1 Road
Pathumwan
Bangkok, 10330 Thailand
Tel : (+66)-2 658 6300
Fax : (+66)-2 658 6301
Website : www.maybank-ke.co.th
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Maybank Kim Eng Securities (London) Limited
6th Floor, 20 St. Dunstans Hill
London EC3R 8HY
United Kingdom
Tel : 44-20 7626 2828
Fax : 44-20 7283 6674
Maybank Kim Eng Securities USA, Inc.
777 Third Avenue 21st Floor
New York NY 10017
USA
Tel : 212-688 8886
Fax : 212-688 3500
E-mail : [email protected]
INSURANCE & TAKAFUL
Maybank Ageas Holdings Berhad
Level 19, Tower C
Dataran Maybank
No. 1, Jalan Maarof
59000 Kuala Lumpur
Tel : (6)03-2297 3888
Fax : (6)03-2297 3800
Website : www.etiqa.com.my
Etiqa Insurance Berhad
Etiqa Takaful Berhad
Level 19, Tower C
Dataran Maybank
No. 1, Jalan Maarof
59000 Kuala Lumpur
Tel : (6)03-2297 3888
Fax : (6)03-2297 3800
Etiqa Life International (L) Ltd
Etiqa Ofshore Insurance (L) Ltd
Level 11B, Block 4 Ofce Tower
Financial Park Labuan Complex
Jalan Merdeka
87000 Wilayah Persekutuan Labuan
Tel : (6)087-582 588
(6)087-417 672
Fax : (6)087-583 588
(6)087-452 333
ASSET MANAGEMENT
Maybank Asset Management Group Berhad
Level 5, Tower A
Dataran Maybank
No 1, Jalan Maarof
59000 Kuala Lumpur
Tel : (6)03-2297 7833
Fax : (6)03-2297 7997
Corporate website : www.maybank-am.com
Maybank Asset Management Sdn Bhd
Level 12, Tower C
Dataran Maybank
No. 1, Jalan Maarof
59000 Kuala Lumpur
Tel : (6)03-2297 7888
Fax : (6)03-2297 7998
Maybank Islamic Asset Management Sdn Bhd
Level 12, Tower C
Dataran Maybank
No. 1, Jalan Maarof
59000 Kuala Lumpur
Tel : (6)03-2297 7816
Fax : (6)03-2711 8588
Maybank Private Equity Sdn Bhd
(formerly known as Maybank Ventures Sdn Bhd)
Level 5, Tower A
Dataran Maybank
No 1, Jalan Maarof
59000 Kuala Lumpur
Tel : (6)03-2297 7887
Fax : (6)03-2297 7878
Maybank Asset Management Singapore Pte Ltd
48 North Canal Road #04-01
Singapore 059305
Tel : (65)-6231 5926
Fax : (65)-6231 5932
Maybank Asset Management (Thailand) Co
Ltd
The Ofces of Central World
25th Floor, 999/9 Rama 1 Road
Pathumwan
Bangkok 10330
Thailand
Tel : +66(0)-2264 5111
Fax : +66(0)-2264 5132
Corporate website : www.maybank-am.co.th
PT Maybank GMT Asset Management
Setiabudi Atrium, 5th Floor - Suite 505
Jl. HR Rasuna Said Kav. 62
Kuningan, Jakarta
12920 Indonesia
Tel : (62)-21 521 0672
Fax : (62)-21 521 0673
Corporate website : www.reksadanagmt.com
OTHERS
Maybank Trustees Berhad
50050 Kuala Lumpur
Tel : (6)03-2078 8363
Fax : (6)03-2070 9387
Maybank (Nominees) Sdn Bhd
Maybank Nominees (Tempatan) Sdn Bhd
Maybank Nominees (Asing) Sdn Bhd
50050 Kuala Lumpur
Tel : (6)03-2070 8833/
(6)03-2070 1522
Fax : (6)03-2032 1505
Maybank Securities Nominees (Tempatan)
Sdn. Bhd.
Maybank Securities Nominees (Asing)
Sdn. Bhd.
Level 8, Tower C
Dataran Maybank
No.1, Jalan Maarof
59000 Kuala Lumpur
Tel : (6)03-2297 8888
Fax : (6)03-2282 5136
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NOTICE IS HEREBY GIVEN THAT the 54
th
Annual General Meeting of
Malayan Banking Berhad (Maybank/the Company) will be held at the
Grand Ballroom, Level 1, Sime Darby Convention Centre, 1A Jalan Bukit
Kiara 1, 60000 Kuala Lumpur on Monday, 7 April 2014 at 10.00 a.m. for
the following businesses:-
AS ORDINARY BUSINESS:
1. To receive the Audited Financial Statements for the fnancial year ended
31 December 2013 together with the Reports of the Directors and Auditors
thereon. (Ordinary Resolution 1)
2. To approve the payment of a Final Single-Tier Dividend in respect of the
fnancial year ended 31 December 2013 of single-tier dividend of 31 sen per
ordinary share as recommended by the Board. (Ordinary Resolution 2)
3. To re-elect the following Directors, each of whom retires by rotation in
accordance with Articles 96 and 97 of the Companys Articles of Association:-
i) Dato Dr Tan Tat Wai (Ordinary Resolution 3)
ii) Mr Cheah Teik Seng (Ordinary Resolution 4)
4. To re-elect Datuk Abdul Farid Alias who retires in accordance with Article 100
of the Companys Articles of Association. (Ordinary Resolution 5)
5. To re-appoint Messrs Ernst & Young as Auditors of the Company for the
fnancial year ending 31 December 2014 and to authorise the Directors to fx
their remuneration. (Ordinary Resolution 6)
AS SPECIAL BUSINESSES:
To consider, and if thought ft, to pass the following Ordinary Resolutions:-
6. AUTHORITY TO DIRECTORS TO ISSUE SHARES
THAT subject always to the Companies Act, 1965, the Companys Articles of
Association and approval of the relevant government/regulatory authorities,
the Directors be and are hereby authorised pursuant to Section 132D of the
Companies Act, 1965, to issue shares in the Company at any time until the
conclusion of the next Annual General Meeting and upon such terms and
conditions and for such purposes as the Directors may, in their absolute
discretion deem ft, provided that the aggregate number of shares to be issued
does not exceed 10% of the issued share capital of the Company for the time
being. (Ordinary Resolution 7)
7. ALLOTMENT AND ISSUANCE OF NEW ORDINARY SHARES OF RM1.00
EACH IN MAYBANK (MAYBANK SHARES) IN RELATION TO THE
RECURRENT AND OPTIONAL DIVIDEND REINVESTMENT PLAN THAT
ALLOWS SHAREHOLDERS OF MAYBANK (SHAREHOLDERS) TO
REINVEST THEIR DIVIDEND TO WHICH THE DIVIDEND REINVESTMENT
PLAN APPLIES, IN NEW ORDINARY SHARES OF RM1.00 EACH IN
MAYBANK (DIVIDEND REINVESTMENT PLAN)
THAT pursuant to the Dividend Reinvestment Plan as approved by the
Shareholders at the Extraordinary General Meeting held on 14 May 2010,
approval be and is hereby given to the Company to allot and issue such
number of new Maybank Shares for the Dividend Reinvestment Plan until the
conclusion of the next Annual General Meeting upon such terms and conditions
and to such persons as the Directors may, in their absolute discretion, deem
ft and in the interest of the Company PROVIDED THAT the issue price of the
said new Maybank Shares shall be fxed by the Directors at not more than ten
percent (10%) discount to the adjusted fve (5)-day volume weighted average
market price (VWAMP) of Maybank Shares immediately prior to the price-
fxing date, of which the VWAMP shall be adjusted ex-dividend before applying
the aforementioned discount in fxing the issue price;
AND THAT the Directors and the Secretary of the Company be and are
hereby authorised to do all such acts and enter into all such transactions,
arrangements and documents as may be necessary or expedient in order to
give full efect to the Dividend Reinvestment Plan with full power to assent to
any conditions, modifcations, variations and/or amendments (if any) as may
be imposed or agreed to by any relevant authorities or consequent upon the
implementation of the said conditions, modifcations, variations and/or
amendments or at the discretion of the Directors in the best interest of
the Company. (Ordinary Resolution 8)
8. PROPOSED ALLOCATION OF OPTIONS AND/OR GRANT OF MAYBANK
SHARES TO DATUK ABDUL FARID ALIAS
THAT the Directors be and are hereby authorised at any time, and from time
to time, to ofer and/or grant options to subscribe for new ordinary shares in
Maybank ("Maybank Shares"), and grant Maybank Shares of up to a maximum
of 3,342,000 Maybank Shares to Datuk Abdul Farid Alias, the Group President
& Chief Executive Ofcer and Executive Director of Maybank under the
Maybank Group Employees Share Scheme as approved by the shareholders at
the Extraordinary General Meeting of Maybank held on 13 June 2011 ("ESS") as
they shall deem ft, subject always to such terms and conditions of the By-Laws
of the Maybank Group Employees' Share Scheme ("the By-Laws") provided
that:-
i) not more than 50% of the Maybank Shares to be issued under the
ESS are to be allocated in aggregate to Executive Directors and senior
management of the Participating Maybank Group (as defned in the By-
Laws); and
ii) not more than 10% of the Maybank Shares to be issued under the ESS
are to be allocated to any individual Eligible Employee (as defned in the
By-Laws) who, either singly or collectively through persons connected
with that Eligible Employee (as defned in the By-Laws), holds 20% or
more in the issued and paid-up capital of the Company and the term
person connected with shall have the same meaning as that assigned
under Paragraph 1.01 of the Main Market Listing Requirements of Bursa
Malaysia Securities Berhad.
AND THAT the Directors be and are hereby authorised to issue and allot new
Maybank Shares pursuant to the ESS to Datuk Abdul Farid Alias from time to
time pursuant to the exercise of such options. (Ordinary Resolution 9)
NOTICE OF THE 54
TH
ANNUAL GENERAL MEETING
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9. To transact any other business of the Company for which due notice shall have
been received in accordance with the Companies Act, 1965.
BY ORDER OF THE BOARD
LS0008977
Company Secretary
Kuala Lumpur
14 March 2014
NOTES:
1. A member entitled to attend, speak and vote at the Annual General Meeting is entitled to appoint a proxy
to attend, speak and on a show of hands or on a poll, to vote in his stead. A proxy may but need not be
a member of the Company. The instrument appointing a proxy shall be in writing under the hand of the
appointor or his attorney duly authorised in writing, or if the appointor is a corporation, under its common
seal or in some other manner approved by its directors.
2. (i) A member shall not be entitled to appoint more than two (2) proxies to attend, speak and vote at the
meeting.
(ii) Notwithstanding the above, an exempt authorised nominee may appoint multiple proxies in respect
of each Omnibus Account held.
(iii) A member who is an authorised nominee as defned under the Securities Industry (Central
Depository) Act 1991 may appoint at least one proxy but not more than two proxies in respect of
each Securities Account it holds with ordinary shares of the Company standing to the credit of the
said Securities Account.
(iv) Where a member appoints more than one proxy, the appointments shall be invalid unless he specifes
the proportions of his holding to be represented by each proxy.
3. Duly completed Form of Proxy must be deposited at the ofce of the appointed share registrar for this
Annual General Meeting, Tricor Investor Services Sdn Bhd at Level 17, The Gardens North Tower, Mid Valley
City, Lingkaran Syed Putra, 59200 Kuala Lumpur no later than 5 April 2014 at 10.00 a.m.
4. For a Form of Proxy executed outside Malaysia, the signature must be attested by a Solicitor, Notary Public,
Consul or Magistrate.
5. Only members registered in the Record of Depositors as at 1 April 2014 shall be eligible to attend the
Annual General Meeting or appoint proxy to attend and vote on his/ her behalf.
6. Explanatory notes on Ordinary Businesses :-
(i) OrdinaryResolution2Payment of Final Single-Tier Dividend
The proposed Final Single-Tier Dividend as per Resolution 2 consists of cash portion of 4 sen single-
tier dividend per ordinary share and an electable portion of 27 sen single-tier dividend per ordinary
share. The electable portion can be elected to be reinvested into new ordinary shares in accordance
with the Dividend Reinvestment Plan as disclosed in Note 31(b) of the fnancial statements.
Pursuant to Section 8.26 of the Main Market Listing Requirements, the Final Single-Tier Dividend, if
approved, shall be paid not later than three (3) months from the date of the shareholders' approval.
The Book Closure Date will be announced by the Company after the Annual General Meeting.
(ii) OrdinaryResolutions 3and4- Assessment of Independenceof Independent Directors
The independence of Dato Dr Tan Tat Wai and Mr Cheah Teik Seng who have served as Independent
Non-Executive Directors of the Company has been assessed by the Nomination & Remuneration
Committee and afrmed by the Board.
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7. Explanatory notes on Special Businesses :-
(i) OrdinaryResolution7 - AuthoritytoDirectors toIssueShares
The Company has not issued any new shares under the general mandate for issuance and
allotment of shares up to 10% of the issued and paid-up capital of the Company, which was
approved at the 53rd Annual General Meeting held on 28 March 2013 and which will lapse at
the conclusion of the 54th Annual General Meeting to be held on 7 April 2014. A renewal of this
mandate is sought at the 54th Annual General Meeting under Proposed Ordinary Resolution 7.
The Proposed Ordinary Resolution 7 is a renewal of the general mandate pursuant to Section
132D of the Companies Act, 1965 obtained from the shareholders of the Company at the
previous Annual General Meeting and, if passed will give powers to the Directors to issue
ordinary shares in the capital of the Company up to an aggregate amount not exceeding 10%
of the issued and paid-up share capital of the Company for the time being without having
to convene a general meeting. This general mandate, unless revoked or varied at a general
meeting, will expire at the next Annual General Meeting.
The general mandate from shareholders is to provide the Company fexibility to undertake
any share issuance during the fnancial year without having to convene a general meeting. The
rationale for this proposed mandate is to allow for possible share issue and/or fund raising
exercises including placement of shares for the purpose of funding current and/or future
investment project, working capital and/or acquisitions as well as in the event of any strategic
opportunities involving equity deals which may require the Company to allot and issue new
shares on urgent basis and thereby reducing administrative time and costs associated with the
convening of additional shareholders meeting(s). In any event, the exercise of the mandate is
only to be undertaken if the Board considers it to be in the best interest of the Company.
(ii) OrdinaryResolution8DividendReinvestment Plan
This Proposed Ordinary Resolution 8 will give authority to the Directors to allot and issue
shares for the Dividend Reinvestment Plan in respect of dividends declared in this Annual
General Meeting and subsequently until the next Annual General Meeting. A renewal of this
authority will be sought at the next Annual General Meeting.
(iii) Ordinary Resolution 9 Allocation of Options and/or Grant of Maybank Shares to Datuk
Abdul FaridAlias
This proposed Ordinary Resolution 9 is made pursuant to the ESS which had been approved
by the shareholders at the Extraordinary General Meeting held on 13 June 2011 ("EGM"). The
ESS was implemented on 23 June 2011 and is in force for a maximum period of seven (7) years
from the efective date. The shareholders at the EGM had also approved the allocation of
options and/or grant of Maybank shares to the former President & Chief Executive Ofcer
and Executive Director of Maybank to subscribe up to a maximum of 5,000,000 Maybank
Shares. The proposed allocation to Datuk Abdul Farid Alias of the above options and/or grant of
Maybank Shares is pursuant to his entitlement to participate in the ESS by virtue of his position
as the Group President & Chief Executive Ofcer and Executive Director of Maybank.
The ESS consists of two (2) types of performance-based awards in the form of Employee Share
Option Scheme and Restricted Share Unit. The ESS will expire on 23 June 2018.

The ESS shall be subject to the terms and conditions of the By-Laws and therefore any terms as
defned in the By-Laws which are mentioned in the Ordinary Resolution 9 or this explanatory
note shall have the same meaning herein.
The maximum number of ordinary shares of RM1.00 each in the Company available under the
ESS should not exceed 10% of the total number of issued and paid-up capital of the Company
at any point of time during the duration of the ESS. Other principal features of the ESS are
disclosed in Note 31(c) of the fnancial statements.
Datuk Abdul Farid Alias has abstained and will continue to abstain from deliberating and
voting on any subject matter pertaining to the ESS and his entitlement under the ESS at the
Board meetings and will continue to abstain from voting in respect of his direct and/or indirect
shareholdings in Maybank (if any), on the resolution pertaining to proposed allocation to him
under the ESS to be tabled at the forthcoming Annual General Meeting. Datuk Abdul Farid
Alias shall also ensure that persons connected to him will abstain from voting in respect of
their direct and/or indirect shareholdings in Maybank (if any) on the resolution approving the
proposed allocation to him under the ESS to be tabled at the forthcoming Annual General
Meeting.
8. Statement Accompanying the Notice of Annual General Meeting
Additional information pursuant to Paragraph 8.27(2) of the Main Market
Listing Requirements of Bursa Malaysia Securities Berhad is set out in
Annexure A in Maybanks Annual Report 2013.
ANNEXURE A
STATEMENT ACCOMPANYING NOTICE OF
THE 54
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ANNUAL GENERAL MEETING
(Pursuant to Paragraph 8.27(2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad)
The profle of the Directors who are standing for re-election (as per Ordinary Resolutions 3 to 5 as stated above) at the 54th Annual General Meeting of Malayan Banking
Berhad which will be held at Grand Ballroom, Level 1, Sime Darby Convention Centre, 1A Jalan Bukit Kiara 1, 60000 Kuala Lumpur on Monday, 7 April 2014 at 10.00 a.m.
are stated on pages 135 to 137 of the Annual Report 2013.
The details of any interest in the securities of Maybank and its subsidiaries (if any) held by the said Directors are stated on page 18 of the Financial Statements book of
the Annual Report 2013.
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FINANCIAL
CALENDAR
21 FEBRUARY 2013
Announcement of the audited results of Maybank and the Group and
announcement of the fnal dividend for fnancial year ended 31 December 2012
6 MARCH 2013
Notice of the 53
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Annual General Meeting and issuance of annual report for the
fnancial year ended 31 December 2012
28 MARCH 2013
53
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29 APRIL 2013
Book closure for determining the entitlement of the dividends
23 MAY 2013
Announcement of the unaudited results of Maybank and the Group for the frst
quarter of the fnancial year ended 31 December 2013
29 MAY 2013
Date of payment of the fnal cash dividend of 33 sen per share, comprising a
franked dividend of 18 sen and single-tier dividend of 15 sen per share, of which
the Dividend Reinvestment Plan was applied to the fnal cash dividend in which,
an electable portion of 29 sen per share comprising a franked dividend of 18
sen (13.5 sen net taxation) per share and single-tier of 11 sen per share can be
elected to be reinvested into new shares and the remaining portion of the
single-tier dividend of 4 sen per share be paid in cash respect of the fnancial
period ended 31 December 2012
21 AUGUST 2013
Announcement of the unaudited results of Maybank and the Group for the
second quarter of the fnancial year ended 31 December 2013
27 SEPTEMBER 2013
Book closure for determining the entitlement of the dividends
25 OCTOBER 2013
Date of payment of a single-tier interim cash dividend of 22.5 sen per share,
of which the Dividend Reinvestment Plan was applied to the interim cash
dividend, in which an electable portion of 16 sen per share can be elected to
be reinvested into new shares and the remaining portion of 6.5 sen per share
be paid in cash in respect of the fnancial year ended 31 December 2013
21 NOVEMBER 2013
Announcement of the unaudited results of Maybank and the Group for the
third quarter of the fnancial year ended 31 December 2013
27 FEBRUARY 2014
Announcement of the audited results of Maybank and the Group and
announcement of the fnal dividend for fnancial year ended
31 December 2013
14 MARCH 2014
Notice of the 54
th
Annual General Meeting and issuance of annual report for
the fnancial year ended 31 December 2013
7 APRIL 2014
54
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This page has been intentionally left blank
No Resolution For Against
Ordinary Resolutions :
1. Receipt of Audited Financial Statement and Reports.
2. Declaration of Final Single-Tier Dividend.
Re-election of the following Directors in accordance with Articles 96 and 97 of the Company's Articles of Association :-
3. i. Dato' Dr Tan Tat Wai
4. ii. Mr Cheah Teik Seng
Re-election of the following Director in accordance with Article 100 of the Company's Articles of Association :-
5. i. Datuk Abdul Farid Alias
6. Re-appointment of Messrs Ernst & Young as Auditors.
7. Authorisation for Directors to issue shares pursuant to Section 132D of Companies Act, 1965.
8. Allotment ,and issuance of new ordinary shares of RM 1.00 each in Maybank in relation to the recurrent and optional
dividend reinvestment plan (Dividend Reinvestment Plan).
9. Allocation of Options and/or Grant of Maybank Shares to Datuk Abdul Farid Alias.
My/Our proxy is to vote on the resolutions as indicated by an X in the appropriate space above. If no indication is given, my/our proxy shall vote or abstain as he/she thinks ft.
Dated this _________ day of _________ 2014 _______________________________
Signature(s) of shareholder(s)
MALAYAN BANKING BERHAD
(Company No. 3813-K)
(Incorporated in Malaysia)
Please refer to the notes below before completing this Form of Proxy.
I/We ___________________________________________________________________________________________________________ NRIC/Passport/Co. No. ______________________________________________
(full name in block letters)
of _______________________________________________________________________________________________________________________Telephone No. _______________________________________________
(full address)
a shareholder/shareholders of MALAYAN BANKING BERHAD, hereby appoint_______________________________________________________________________________________________________
________________________________________________________________________________________ NRIC/Passport/Co. No. ________________________________________________________________________

of _______________________________________________________________________________________________________________________________________________________________________________________
(full address)
or failing him/her _____________________________________________________________________________________ NRIC/Passport/Co. No._________________________________________________________
of _______________________________________________________________________________________________________________________________________________________________________________________
(full address)
or failing him/her, the Chairman of the meeting, as my/our proxy to vote for me/us on my/our behalf at the 54
th
Annual General Meeting of Malayan Banking Berhad to be held
at Grand Ballroom, Level 1, Sime Darby Convention Centre, 1A Jalan Bukit Kiara 1, 60000 Kuala Lumpur on Monday, 7 April 2014 at 10.00 am and any adjournment thereof for the
following resolutions as set out in the Notice of Annual General Meeting:-
FORM OF PROXY
for the 54
Th
Number of shares held CDS Account No. of the Authorised Nominee*
- -
Notes:
1. A member entitled to attend, speak and vote at the Annual General Meeting ("AGM") is entitled to appoint a proxy to attend, speak and on a show of hands or on a poll, to vote in his stead. A proxy may but need not be a
member of the Company. The instrument appointing a proxy shall be in writing under the hand of the appointor or his attorney duly authorised in writing, or if the appointor is a corporation, under its common seal or in some
other manner approved by its directors.
2. (i) A member shall not be entitled to appoint more than two (2) proxies to attend, speak and vote at the meeting.
(ii) Notwithstanding the above, an exempt authorised nominee may appoint multiple proxies in respect of each Omnibus Account held.
(iii) A member who is an authorised nominee as defned under the Securities Industry (Central Depository) Act 1991, may appoint at least one proxy but not more than two proxies in respect of each Securities Account it holds
with ordinary shares of the Company standing to the credit of the said Securities Account.
(iv) Where a member appoints more than one proxy, the appointments shall be invalid unless he specifes the proportions of his holding to be represented by each proxy.
3. Duly completed Form of Proxy must be deposited at the ofce of the appointed share registrar for this AGM, Tricor Investor Services Sdn Bhd at Level 17, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200
Kuala Lumpur no later than 5 April 2014 at 10.00 a.m.
4. For a Form of Proxy executed outside Malaysia, the signature must be attested by a Solicitor, Notary Public, Consul or Magistrate.
5. Only members registered in the Record of Depositors as at 1 April 2014 shall be eligible to attend the AGM or appoint proxy to attend and vote on his/ her behalf.
* Applicable to shares held through a nominee account.
Fold here
Share Registrar for Maybanks 54
th
AGM
Tricor Investor Services Sdn Bhd
Level 17, The Gardens
North Tower, Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Malaysia
AFFIX STAMP
Fold here
Raising the bar
across Southeast Asia.
Alpha Southeast Asia Awards 2013
Best Retail Broker : Philippines, Thailand, Vietnam
Best Institutional Broker : Philippines, Thailand
Asian Banking & Finance Wholesale Banking Awards 2013
Malaysia Domestic Trade Finance Bank Of The Year
Global Finance Worlds Best Internet Bank Awards 2013
Best Corporate/Institutional Internet Banks : Malaysia
The Asset Triple A Awards 2013
Best Custodian by Country Rising Star
Best Islamic Trade Finance Bank
Best Islamic Project Finance (Malakof Tanjung Bin Energy)
Best Islamic Equity (IHH Healthcare)
Highly Commended Best Islamic Equity (Felda Global Ventures)
Best Local Currency Sukuk
Bloomberg Markets 2013
13th Worlds Strongest Bank
Euromoney Awards for Excellence 2013
Best Bank in Malaysia
Asian Banker Leadership Achievement Awards 2013
Best Managed Bank : Malaysia
Leadership Achievement : Malaysia
Asiamoney Awards 2013
Best Domestic Bank : Malaysia
Best Debt House : Malaysia
Continuously innovating new ways to strengthen the partnerships weve built is at the heart
of everything we do. In 10 Southeast Asian markets, Greater China and across our global
network of 2,200 ofces worldwide, Maybanks reputation for world's best systems, cross-border
connectivity, client knowledge and developing innovative fnancial solutions won us over 140
awards in 2013 alone. Each one, a testimony to the strength of the relationships we have built with
our 22 million customers, partners and stakeholders worldwide.
Humanising Financial Services Across Asia.
www.maybank.com

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Higher loans growth and PBT growth in overseas markets

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