“Maybank Elevates Strategic Partnership, Offering Retail Advisory Support to ABBank”

A signing ceremony was held during the visit of Maybank’s senior leadership delegation to ABBank.

According to the Memorandum of Understanding, the parties agreed to cooperate and implement consulting projects to improve ABBank’s operational efficiency, especially during the transition phase. The scope of cooperation includes but is not limited to the following areas: 1) SME Banking; 2) Retail Banking; and 3) Digitalization, as well as other suitable areas of collaboration between the two parties.

For the past 16 years, Maybank has been closely associated with ABBank as a strategic shareholder, fostering cooperation and mutual development. This event marks a new milestone in their relationship by signing a Memorandum of Understanding to enhance their strategic partnership. This signifies the commitment of both parties to strengthen their collaboration, especially as ABBank is undergoing a comprehensive transformation, aiming for new growth opportunities in the future for both institutions.

Prior to this, ABBank and Maybank have regularly collaborated on capital and trade finance transactions, international payments, and workshops to share information and experiences in developing retail banking, digital banking, and SME segments. These are areas where Maybank has expertise and strengths in the market, aligning with ABBANK’s strategic focus on retail banking. Over the years, the cooperation between the two parties has also extended to various fields such as credit, risk management, and strategic planning…

During the signing ceremony, both parties emphasized the importance of comprehensive digital transformation for the bank’s growth in scale and efficiency, along with enhanced data security and protection.

Expressing his expectations for the strengthened strategic cooperation between the two parties to achieve their transformation goals, Mr. Vu Van Tien, representing the ABBank Board of Directors, shared: “The Board of Directors gives the highest priority to ABBank’s transformation program. Investing in technology development is important and necessary, but the decisive factor is people, from senior leaders to all employees, who need a mindset of innovation and technology mastery. Therefore, people development is our top priority. We hope that Maybank, with its successful track record and practical experience, will accompany and send experts to support ABBank in improving our team’s capabilities, meeting the requirements of the transformation, and achieving success.”

Mr. Dato’ Khairussaleh Ramli, President and CEO of Maybank Group, also expressed: “Maybank wishes to support ABBank in relevant areas of expertise to help ABBank realize its transformation strategies and goals. Retail, SME, and Digitalization are areas where Maybank has made good progress, especially within the framework of the M25+ transformation program that we are implementing.”

As a strategic shareholder of ABBank since 2008, Maybank is Malaysia’s leading bank and one of the leading financial institutions in Southeast Asia, with a global presence in financial centers. Maybank offers a diverse range of financial products and solutions, including wholesale and retail commercial banking, Islamic banking, investment banking, and insurance. Currently, Maybank holds 16.4% of ABBank’s charter capital.