Maybank, South East Asia’s fourth largest bank by assets, has launched its new corporate head office in Manila today January 29, 2013, simultaneously announcing a capital injection of US$100 million to accelerate its growth in the Philippines.
The new centre, called the Maybank Corporate Centre, involves a long term investment of US$48 million and is located in the ultra-modern high-tech suburb of Bonifacio Global City in Taguig. Bonifacio Global City is the newest premier business and residential district in the Philippines.
Speaking at a news conference in conjunction with the inauguration, President & CEO, Dato’ Sri Abdul Wahid Omar stated that the Group had for long recognised the Philippines as another “frontier of growth” in the Asia Pacific region. To this end, Maybank had previously injected additional capital of US$50 million in 2010 for network expansion. To further reaffirm Maybank’s commitment to the Philippines which it regards as one of its home markets, the additional capital injection of US$100 million was aimed at strengthening its franchise to support the booming economic growth as well as supporting the increasing trade and investment flows within ASEAN.
Dato’ Sri Wahid added that Maybank intends to leverage on the growing window of opportunity in the Philippines to strengthen its franchise over the next few years. “Our intention is to double our network to 100 branches by 2014 and thereafter to 200 branches by 2018,” he said.
On Maybank ATR Kim Eng (Maybank ATR KE), Dato’ Sri Wahid said that its investment bank, Maybank ATR KE Capital Partners, is among the leading equities houses in the Philippines, while its stock brokerage unit, Maybank ATR KE Securities, has consistently been among the top 5 trading participants on the Philippine Stock Exchange. Going forward, Maybank ATR KE intends to leverage its track record of leadership in equities to expand into both fixed income underwriting and retail online brokerage.