Malaysia: Maybank Named Most Valuable Bank Brand

KUALA LUMPUR, March 30 (Bernama) -- Malayan Banking Bhd (Maybank) has strengthened its brand position by being crowned the most valuable bank brand in Malaysia, with its brand valued at US$2.548 billion (US$1 = RM4.42). In a statement Thursday, Maybank said, the global brand valuation and strategy consulting firm, Brand Finance, also ranked it as the top five Association of South-East Asian Nations (ASEAN) bank brands in the global brand rankings of the Top 500 Banking Brands 2017. According to Brand Finance's survey, Maybank experienced a strong and positive brand value growth of 24 per cent amid stiff competition from other ASEAN and global brands. Maybank Group President/Chief Executive Officer, Abdul Farid Alias, said this recognition reflected the strong support from the group’s stakeholders as well as the significant equity the Maybank brand enjoyed in the marketplace. "In addition, it demonstrates the strong efforts, collaboration and support of Maybank employees who work diligently each day to deliver that unique and differentiated brand experience to all we come into contact with," he said. Meanwhile, Brand Finance Asia-Pacific Managing Director, Samir Dixit, said Malaysian bank brands were seen to be more competitive versus the global banks and they were positioned to expand into regional markets. "Their crucial regional foot print is enabling good growth and helping establish their reputation with potential clients across the world," he said. -- BERNAMA