Maybank World's 13th Strongest Bank
Kuala Lumpur-based Maybank has emerged as number 13th in Bloomberg Markets magazine's third annual ranking of the world's strongest banks, according to reports published on the Bloomberg website.
This achievement has placed Maybank in the company of an elite global group of banks with assets of over USD100 billion and evaluated based on capital strength, asset quality, strong reserves as well as deposit and funding strength. Maybank is the first and only Malaysian bank in the list.
Maybank President and Chief Executive Officer Datuk Seri Abdul Wahid Omar has attributed the strong ranking to tough supervision by Bank Negara Malaysia and new stress testing and risk-control measures instituted inside the bank.
"The central bank has always adopted a very pragmatic supervision approach. Whenever there are signs of problems, Bank Negara has never been hesitant to intervene," he said.
The annual ranking results were also based on banks' cost efficiency and risk management, areas where Maybank scored highly.
Qatar National Bank placed 1st in Bloomberg Markets ranking, while Singapore's Oversea-Chinese Banking Corp (OCBC) came in second.
Maybank is Malaysia's largest bank by asset size, and is currently ranked #4 in Southeast Asia. …