For the first time ever, Maybank has been named in Brand Finance’s Global 500 Brands. It is one of only two Malaysian brands in the list, and the only local bank to make it onto the prestigious list.
Maybank was 494th in the list of 500 brands worldwide, achieving a brand valuation of US$4.2 billion (RM17.27 billion) which marks an impressive 32% increase from last year’s US$3.16 billion valuation. Maybank also maintained its position as the top bank brand in Malaysia for the fifth year running. On top of that, it has improved its previous rating of AAA- to AAA and increased its Brand Strength Index (BSI) from 82/100 to 86/100. BSI is one of the key drivers that helps brand valuation and determines the strength of a brand.
Maybank’s steady brand improvement showed at a regional level as well, as it was among only eight ASEAN brands that were listed in the global ranking. Group president and CEO of Maybank, Datuk Abdul Farid Alias said that the recognition was a reflection of Maybank’s efforts in building relationships with stakeholders and delivering consistent value through all its products and services.
In a statement, the bank stated that it has been developing a meaningful brand experience centred on humanising financial services as well as a commitment to being at the heart of communities where it operates. Maybank is currently focusing on providing next-generation customer experience, as technology is influencing our lifestyle and the banking habits of today.
Lastly, Brand Finance Asia Pacific managing director Samir Dixit said that Maybank has started to threaten some prestigious global brands and is now competing at a global level when it comes to world strength and recognition.
(Source: The Star, The Edge Markets)