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520643
Mon, 01/28/2019 - 12:16
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https://oananews.org//node/520643
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Maybank Singapore Hopes Depositors Reactivate Account Via 'MSpace At Maybank'
By Massita Ahmad
SINGAPORE, Jan 28 (Bernama) -- Maybank Singapore Limited hopes that more current depositors will reactivate their account with the opening of 'MSpace at Maybank', a new concept store that combines a café with modern banking services, serving the banking needs of a diverse client base.
Speaking to Bernama recently, Maybank Singapore’s country chief executive officer (CEO) Dr John Lee said currently, Maybank has about 780,000 customers in the city-state, of whom over 300,000 are active customers.
“A lot of people open accounts but are not always very active. We want to start with making those customers who are not so active to be more active, then we will, of course, look to attract new customers,” said Lee who is also CEO of Maybank Singapore Limited.
Located at Orchard Shopping Centre, MSpace at Maybank started operating on Nov 7, 2018, and held its official opening on Nov 22, 2018.
The new concept store is Maybank’s 20th retail branch in Singapore and was designed to engage the younger crowd as well as to serve wealth management clients. It is the first branch across the entire Maybank network that carries the new concept.
“We are locally incorporated. We hope people will see us more as a Singaporean company rather than a Malaysian-owned company,” said Lee, adding that 780,000 depositors were quite a lot, out of Singapore’s population of 5.64 million.
“This is about 14 per cent of the total population,” he said.
Maybank Singapore Limited has a plan to convert some of its existing branches into MSpace at Maybank down the road.
“This is our first MSpace at Maybank. We will see how successful it goes. If successful, definitely we will be looking to convert some of our existing branches, particularly those in the malls,” he said.
When asked on the cost to open one MSpace at Maybank concept store in Singapore, Lee quipped, “Cost is not an issue.”
Maybank Singapore Limited operates 27 service locations, including 20 retail branches, in Singapore.
It received a full banking licence with Qualifying Full Bank privileges on Oct 3, 2018; allowing it to operate as a subsidiary of the Maybank Group with Asian Currency Unit capabilities.
On Nov 5, 2018, Maybank’s Singapore Branch has successfully completed the transfer of its Community Financial Services (CFS) business in Singapore to Maybank Singapore Limited.
CFS business consists of Retail (personal banking, privilege wealth, premier wealth), Private Wealth, SME - Retail, Small Medium Enterprises (RSME) Banking and Commercial Banking business in Singapore.
Maybank’s total assets in Singapore were approximately S$65.8 billion (S$1=RM3.03), as of end-December 2017.
As of end-December 2017, Maybank Singapore had approximately S$47.5 billion of customer deposits, S$49.5 billion of assets under management (consisting of deposits and unit trusts) and S$40.5 billion of customer loans.
Currently, there are a total of about 2,600 employees in Singapore, across Maybank, Maybank Kim Eng, Maybank Asset Management and Etiqa Insurance.
-- BERNAMA