Top 10 Banks in Malaysia by Assets

According to their total assets, the top ten largest banks in Malaysia are as follows:

1. Maybank Malaysia:

Maybank Malaysia is the biggest bank in the nation, with RM 888 billion in total assets. Maybank is Malaysia’s largest bank by market capitalisation and total assets and one of the largest banks in Southeast Asia, with total assets exceeding US$203 billion and a net profit of US$1.98 billion for 2019.

Maybank is also ranked 106th in The Banker’s 2020 Top 1000 World Banks (as of July 2020) and 349th in the Forbes Global 2000 Leading Companies (as of May 2020).

Maybank is the largest public listed company on Bursa Malaysia, the Malaysian stock exchange, with a market capitalisation of US$23.7 billion as of 31 December 2019.

Maybank’s Islamic banking arm, Maybank Islamic, is the largest Islamic bank in ASEAN and Malaysia in terms of assets, and was named 2020’s Global Islamic Bank of the Year by The Banker.[4]

Maybank’s network spans across all 10 ASEAN nations as well as key Asian countries and global financial centres, with a network of 2,600 retail banking branches worldwide and more than 43,000 employees.

Visit website: https://www.maybank2u.com.my/

Source: https://en.wikipedia.org/wiki/Maybank

2. CIMB Group

CIMB Bank Berhad, also known as “the Bank” or “CIMB,” has been recognised for its leadership in the Malaysian banking sector by being voted the Best Bank in Malaysia at the 2023 Euromoney Awards for Excellence. The recognition highlights CIMB’s forward-thinking commitment to digitalization and its ability to offer creative solutions that meet the various and changing demands of its clientele.

“This recognition is a testament to our people and their unwavering commitment in providing the best financial products and services to meet our customers’ needs, backed by technology and digital enablement,” stated Effendy Shahul Hamid, Chief Executive Officer, Group Consumer and Digital Banking, CIMB Group.

“We appreciate our customers’ trust in us as their go-to banking partner, and they motivate us to keep setting the bar higher.” Motivated by an innovative culture, we will work to get best-in-class solutions that provide value and make it easy and safe for our clients to bank and trade.”

By using digitalization in its offerings, CIMB has been aggressively improving and revolutionising the banking experience for its clientele. The Bank’s accomplishments include its emphasis on the purchase of CASA and its CIMB OctoSavers Account-i service, which features an end-to-end online onboarding procedure and entirely digital electronic Know-Your-Customer (“e-KYC”) account opening capability. The total deposits in the CIMB OctoSavers Account-i increased by 94% year over year by the end of 2022, indicating that the digital proposal was well-received.

Source: https://www.cimb.com/en/newsroom/2023/cimb-named-best-bank-in-malaysia-by-euromoney.html?icid=b1:generic_b2:euromoney_b3:gws_b4:home_b5:popup_b6:all

Visit: https://www.cimbclicks.com.my/

3. Public Bank Berhad

Public Bank Berhad is another important player in the Malaysian banking sector. With its headquarters located in Kuala Lumpur, Malaysia, Public Bank Berhad (MYX: 1295) provides financial services throughout Malaysia and the Asia-Pacific area.

In 1966, Teh Hong Piow, who was General Manager of Malayan Banking at the time, formed the bank. In 1967, the bank went public on the Malaysian Stock Exchange.

With more than RM 363.76 billion (US$91.26 billion) in assets and RM71.90 billion (US$18.04 billion) in market capitalization in 2015, Public Bank is presently among the biggest banks in Southeast Asia.

In terms of shareholder money, Public Bank is the biggest bank in Malaysia. It is ranked third in terms of total assets, after CIMB and Maybank, and second in terms of market capitalization.

Currently, Public Bank provides a wide range of financial services and products, such as share broking, commercial and personal banking, Islamic and investment banking, bancassurance, nominee services, sales and administration of unit trust funds, and general insurance products. The main objective of Public Bank’s strategy is to expand its retail banking operations, with a focus on small and medium-sized businesses and retail consumers.

Source: https://en.wikipedia.org/wiki/Public_Bank_Berhad

Visit: https://www.pbebank.com/Personal-Banking.aspx

4. RHB Bank

Among Malaysia’s leading banks is RHB Bank. In Malaysia, RHB Bank Berhad is a well-known banking institution. Online banking is among the many banking services it provides. Its biggest affiliate, RHB Investment Bank Berhad, offers a range of customers capital market solutions, securities brokerage, asset management, and trustee services. With more than 180 locations nationwide, RHB Bank is one of the few financial institutions in Malaysia that provides Islamic banking services and products. RHB Islamic Bank Berhad, a subsidiary, is the source of these goods. In Malaysia, RHB Islamic Bank offers a variety of Shariah-compliant banking services and products through its extensive network of branches and ATMs.

As of August 2022, RHB Bank had a market capitalization of RM24.77 billion and was listed on the Bursa Malaysia. You may visit RHB Bank’s official website to find out more about the bank and its services.

Source: https://en.wikipedia.org/wiki/RHB_Bank

Visit: https://onlinebanking.rhbgroup.com/my/login

5. Hong Leong Bank

One of Southeast Asia’s largest banks is Hong Leong Bank started it’s operation In Kuching, Sarawak and Hong Leong Bank was founded in 1905 as Kwong Lee Mortgage & Remittance Company by Lam Tee Chew and Lam Song Khee, brothers from Cantonese descent. The business provided loans secured by export goods including pepper, rubber, and other domestic goods. Additionally, it offered the service of helping Chinese expatriates send money home to their family in Southeast China. The business changed its name to Kwong Lee Bank and became a public corporation on October 26, 1934.

Tan Sri Dato Khoo Kay Peng, a Malaysian business magnate, owned the MUI Group, which purchased Kwong Lee Bank Berhad in May 1982. OCBC Bank, which purchased a portion in the bank in 1964, and the Lam family—relatives and offspring of the bank’s founder Lam Ji Chiew—are among the departing shareholders. On February 2, 1983, Kwong Lee Bank Berhad changed its name to Malayan United Bank Berhad. It was afterwards called MUI Bank Bhd. The bank expanded from 11 locations—including one in Singapore—to 35 branches under the MUI umbrella.

Through Hong Leong Credit Berhad, the Hong Leong Group Malaysia bought MUI Bank Berhad on January 3, 1994, and changed its name to Hong Leong Bank Berhad (HLBB).

AEON Bank became a member of the Hong Leong Bank Group when Hong Leong Bank announced on May 6, 2011, that it had finished acquiring the assets and liabilities of AEON Capital Bhd.

In less than eight weeks, the formal vesting process was completed, transferring all of the old AEON Bank’s assets and liabilities to HLB. The combination results in the creation of the fourth-largest bank in the nation, with 329 branches and assets of about RM140 billion.

Source: https://en.wikipedia.org/wiki/Hong_Leong_Bank

Visit: https://www.hlb.com.my/en/personal-banking/home.html

6. AmBank

AmBank provides both domestic and foreign clients with a broad variety of financial services. One of the biggest banking companies in Malaysia, AmBank Group is made up of AMMB Holdings Berhad (AMBANK 1015), whose main lines of business include retail, wholesale, Islamic, and life and general insurance.

In addition to AmBank, AmInvestment Bank, AmInvest, AmBank Islamic, AmGeneral Insurance, and AmMetLife, the Group trades under several more brands. According to its website, AmBank, its primary brand, represents its retail and wholesale banking operations. It is backed by a network of 175 branches and 766 ATMs throughout Malaysia.

The AmBank Group was established in 1975 as the Persian-Malaysian Development Bank by its founder, Hussain Najadi.

As of June 30, 2014, Tan Sri Azman Hashim, the group chairman, owned 14.01% of AMMB Holdings. With a 23.78% interest as of June 30, 2014, Australia’s ANZ Group is AMMB Holdings’ single largest stakeholder.[/3]:359. Amcorp’s stake in AMMB was lowered from 32.9% to 18.8% in 2006 following Tan Sri Azman’s sale of 300 million shares to ANZ Group.

The bank’s image has been damaged due to its involvement in the 1MDB controversy, which has been widely publicised both locally and internationally.

Source: https://en.wikipedia.org/wiki/AmBank

Visit:  https://www.ambank.com.my/eng/

7. UOB Malaysia

One of the nation’s well-known banks is UOB Malaysia, To meet the needs of both people and businesses, UOB Malaysia provides a broad range of goods and solutions. They provide wealth banking, private bank services, Islamic banking, privilege banking, and personal banking. UOB Malaysia provides credit cards, current and fixed deposit accounts, and personal savings to people. Additionally, they provide a range of e-banking services, including JomPay, phone, self-service, and personal online banking.

Visit: https://www.uob.com.my/default/index.page

8. Bank Rakyat

Located in Malaysia, Bank Rakyat is a prominent Islamic bank. Established on September 28, 1954, under the Ordinance Cooperation’s Act 1948, Bank Kerjasama Rakyat Malaysia Berhad (Jawi: ب֠֩ ɩرجاسام رعيت مليسيا برحد) or Bank Rakyat (Jawi: ب֠ɩ رعيت) was governed by Bank Negara Malaysia (BNM) under the Development Financial Institutions Act (DAFIA 2002), the Ministry of Entrepreneur Development and Cooperatives (MEDAC), and the Cooperatives Commission of Malaysia.

Source: https://en.wikipedia.org/wiki/Bank_Rakyat

Visit:  https://www.irakyat.com.my/

9. OCBC Bank Malaysia

With a broad national footprint, OCBC Bank Malaysia is a reputable financial institution. OCBC Bank Malaysia offers a range of services including personal banking, business banking, and wealth management1. For personal banking, they provide seamless one-stop mobile banking2. If you are interested in online banking, you can visit their login page to access your account. For business banking, you can reach them at 1300 88 7000 (within Malaysia) or +603 8317 5200 (outside Malaysia) from Monday to Friday, 9am to 6pm (excluding public holidays).

Visit: https://www.ocbc.com.my/group/gateway?

10. HSBC Bank Malaysia

One of the leading financial institutions in Malaysia is HSBC Bank Malaysia. On October 1, 1984, HSBC Bank Malaysia Berhad was domestically formed in Malaysia. It is a fully owned subsidiary of London-based HSBC Holdings plc, which is a member of the HSBC Group. With offices spread over 66 nations and territories in Europe, the Asia-Pacific area, the Americas, the Middle East, and Africa, the Group provides services to about 39 million consumers globally. About a third of the more than 60 branches that make up HSBC Bank Malaysia Berhad’s local network service clients through its Islamic Banking affiliate, HSBC Amanah Malaysia Berhad.

With a vast network of branches and direct channels, HSBC Bank Malaysia provides a comprehensive variety of consumer and business banking services, making it the largest foreign-owned bank in Malaysia in terms of assets. Furthermore, since August 2006, HSBC has provided Islamic financial services in Malaysia via HSBC Amanah Malaysia Berhad, its Islamic banking affiliate in the country.

Source: https://en.wikipedia.org/wiki/HSBC_Bank_Malaysia

Visit: https://www.hsbc.com.my/

Retail banking, corporate banking, investment banking, Islamic banking, and asset management services are just a few of the services offered by these institutions. They contribute significantly to the nation’s economy and assist the financial industry.

Please be aware that this information might change in the future as it is based on current data.