Published: Wednesday April 24, 2013 MYT 2:11:00 PM
Updated: Wednesday April 24, 2013 MYT 2:43:12 PM
Maybank president wins Asian Banker Leadership Achievement Award for Malaysia
KUALA LUMPUR: Malayan Banking Bhd president and chief executive officer Datuk Seri Abdul Wahid Omar won the Asian Banker Leadership Achievement Award 2013 for Malaysia.
He also led Maybank to win the Best Managed Bank in Malaysia award at the Asian Banker Summit 2013 held in Jakarta on Tuesday.
The Asian Banker said in the period under review, Maybank turned around its financial performance and strengthened its share of the domestic loan business.
The Asian Banker and the council of advisors for the Leadership Achievement Awards programme were impressed with Abdul Wahid's achievements in the period under review.
They noted the measures he took to regain shareholder confidence following a sharp drop in net profit in 2009.
Abdul Wahid also led the bank in growing net profit by more than eight times to RM5.74bil between 2009 and 2012.
The Asian Banker also pointed out that under Abdul Wahid's leadership, Maybank strengthened its share of the total consumer loan segment and continued to lead the market.
It cited that Abdul Wahid's biggest challenge as CEO in 2010 was when he had to regain shareholder confidence after net profit fell sharply from RM2.93bil in 2008 to RM692mil in 2009 due to the impairment of acquisition investment in BII and MCB Bank of Pakistan.
“Abdul Wahid has since led the Bank in growing net profit by more than 8 times to RM5.74 billion between 2009 and 2012. The improvement came on the back of a Group-wide transformation programme, known as LEAP 30.
“Abdul Wahid guidance has also led to strong improvement in performance from BII, with rapid profit growth since 2010.
To recap, the Leadership Achievement Award is a recognition programme that is run once every three years to assess the leadership of bank chairmen and CEOs on their respective businesses and the industry as a whole.
This is the most important award programme that the Asian Banker runs because it underscores the importance of sound and visionary leadership in directing the future of the industry.