President/Chief Executive Officer Datuk Seri Abdul Wahid Omar said the plan was in sync with the bank's focus to expand in the Asean region, particularly Indonesia, Singapore and the Philippines.
"We have defined our focus which is Asean. We will concentrate on that. (source)
"We have grown our business from 240 branches to 330 branches in Indonesia," he told Bernama in an interview on the sidelines of the Joint High Level Conference on Islamic Finance by Bank Negara and Bank Indonesia in Jakarta early this week.
"When I was first approached to take up this appointment three years ago, I thought the big mandate was to strengthen Maybank's position in the domestic market and expand regionally and turn Maybank into a regional financial institution.
"That has always been our aspirations," he said.
He also said that Maybank wanted to create a branch network in Cambodia and would open another branch this year. "We have 10 branches now. We had three branches three years ago," he said.
Abdul Wahid said that in the Philippines, Maybank would optimise its branch network with 50 branches it has there now.
He said the bank also wanted to have representatives in the key economies including the G-20 countries.
Maybank currently has presence in Shanghai, London, New York, Hong Kong and Bahrain. It also has an associate investment bank in Saudi Arabia. "While expanding, it's important that we are not overstretched," Abdul Wahid added.
Abdul Wahid also said that Maybank's performance for its financial year ending June 30, 2011 would exceed its key performance indicator (KPI) target.
"For the first three quarters, we recorded after tax profit of RM3.3 billion. We are very much well on target to exceed our KPIs," he said.
Maybank is due to announce its full year financial performance on Aug 22.
Source : http://www.bernama.com/bernama/v5/newsindex.php?id=603179 - July 22, 2011
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