Business

Saturday September 10, 2011

Maybank unveils new corporate logo

By CHOONG EN HAN
han@thestar.com.my


KUALA LUMPUR: Malayan Banking Bhd (Maybank) has unveiled a new logo to reflect its vision of becoming a regional financial services provider.

“What we have come up with is a refreshed Maybank brand that embodies our aspirations to be a regional leader in humanising financial services and how our values are manifested in the brand attributes,” chairman Tan Sri Megat Zaharuddin Megat Mohd Nor told an Aidilfitri gathering attended by 5,000 employees at Menara Maybank here yesterday.

Although its current brand has been in place since 1993, many observers feel that the bank was not keeping up with its stakeholders across the region.

New look: Najib holding the refreshed Maybank logo at the event. With him are Megat Zaharuddin (left) and Wahid (right). – Bernama

The new corporate identity was launched by Prime Minister Datuk Seri Najib Tun Razak. Also present were president and chief executive officer Datuk Seri Abdul Wahid Omar and senior management.

Wahid said the bank would be spending RM13mil on the rebranding exercise and that the cost was in its annual budget.

Megat Zaharuddin said Maybank had grown in the region with the recent acquisition of Singapore brokerage Kim Eng Holdings Ltd.

“Since coming out of the 2008 global financial crisis, we have delivered total shareholder's returns of 37.1% and 28.1% in our last two financial years respectively. And just weeks ago, we announced record profit of RM4.45bil,” he added.

Kim Eng owns the number one brokerage firm in Thailand, and Maybank is also looking for opportunities to venture into retail banking in Thailand.

Wahid said the bank would maintain its 20% stake in An Binh Bank in Vietnam and would expand organically.

“We are also preparing to open branches and expand our network in Laos,” he said.

The new corporate identity was to reflect Maybank's attributes of being courageous, genuine, creative, empathetic and collaborative.

They reaffirmed the bank's commitment to serve its stakeholders.

“The stakeholders wanted the three key elements of our identity to remain the name Maybank, the colour yellow and the tiger head symbol. The refreshed corporate identity is timely to reinforce the significant progress we have made and the impending rebranding of our newly-acquired entities,” Wahid said.

The new corporate identity will be implemented across the region and is expected to be completed in the next 12 months. The bank has assets exceeding RM412bil and a market capitalisation of RM65bil. It has branches in 17 countries with 42,000 employees in 2,100 offices serving more than 21 million customers.

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