KUALA LUMPUR: Malayan Banking Bhd (Maybank) is on track to meet the goals under its M25 Plan, and will continue to accelerate efforts to unlock greater value for all its stakeholders.
This will be achieved by enhancing its digital capabilities, discovering more new value drivers for business growth as well as championing sustainable practices.
These commitments were reiterated by Maybank chairman Tan Sri Zamzamzairani Mohd Isa and group president and chief executive officer Datuk Seri Abdul Farid Alias during a press conference afyer its 62nd annual general meeting today.
Zamzamzairani said despite the challenging circumstances arising from the pandemic and geo-political uncertainties, Maybank recorded commendable financial performance in 2021.
The bank's net profit grew 24.9 per cent year-on-year (Y-o-Y) to RM8.10 billion mainly owing to its resilience and robust financial strength.
The bank also made a higher dividend payout in 2021, totaling 58 sen per share, recording a dividend yield of 7.0 per cent which was one of the highest among banks in the region.
"With our key markets increasingly moving toward the endemic stage, the expectation is that there would be greater economic recovery across the region - boosted by enhanced vaccination rollouts and the easing of border control restrictions.
"These are positive signs and we believe it puts us in the driving seat to ensure we achieve our M25 goals.
"M25 is anchored by our mission of humanising financial services and has a clear strategy focusing on three priorities - namely Pervasively Digital, New Value Drivers and Sustainability," he said.
Abdul Farid said the group's focus on building the three strategic priorities has enabled it to stay ahead of the curve, and continue serving the community, especially during the outbreak of the pandemic.
"Our expertise to operate as a digital bank, in addition to our role as a traditional bank demonstrates our strength to provide cutting-edge solutions for our customers," he said.
Abdul Farid said over the last year, the bank had been able to design its own lifestyle applications, introduce digital financing solutions in Malaysia cutting across retail and non-retail segments for products such as mortgage, personal and SME financing, and allowed for KYC processes to be undertaken digitally in Singapore, Indonesia and the Philippines, amongst others.
He said while Maybank would continue to develop digital products and services for customers, it would also use the capability to drive sustainable banking practices to support its communities.
"We have used it successfully in the past such as for MaybankHeart, the first-of-its-kind digital social fundraising platform for NGOs as well as Sama-Sama Lokal, our zero commission online marketplace to help struggling microenterprises.
"This platform now has over 14,000 merchants, who have generated some RM24 million in order value, benefitting from their access to Maybank2u's 12 million customer base. This aspect will continue as part of our humanising mission," he said.