Maybank Cambodia has launched groundbreaking initiatives to lead community engagement and innovation in banking
Success in the financial services industry relies on strategic deployment, with leading institutions leveraging forward-looking strategies for challenges and opportunities. These strategies cover a spectrum of approaches, from innovative product launches and digital advancements to sustainability integration and community-focused endeavours.
Achieving this success requires aligning goals with a robust strategic plan, prioritising innovation, adaptability and a holistic understanding of the operational environment. This approach not only helps institutions weather industry shifts but also positions them as industry leaders.
Maybank’s story
Malaysia’s Maybank has consistently demonstrated the power of strategic thinking in its journey towards excellence. The bank’s success story is emblematic of how well-crafted strategies can not only drive growth but also position an institution as a trailblazer within its sector.
Established in 1960, Maybank has expanded its influence across the Association of Southeast Asian Nations (ASEAN) region. Since entering Cambodia in 1993, Maybank’s growth from a single branch to a locally incorporated bank in 2012 is attributed to its team’s collective efforts over 30 years.
In 2023, Maybank Cambodia led transformative initiatives in banking and community engagement. The lender’s key achievements include:
- Introducing Cambodia’s first dual-card system – Maybank 2 cards – with more than 2,000 cards issued since June 2023;
- Launching a portable retail hub called Maybank Pop Up to enhance customer convenience and engagement;
- Introducing real-time funds transfer for corporate and SME clients to enable swift transactions and align SMEs with retail customer benefits;
- Launching an integrated payment system for retail customers – Maybank2U – and facilitating more than 250,000 transactions exceeding $193m;
- Enhancing digital payment capabilities, enabling payments to 200 billers for the year.
Championing sustainability
Sustainability is a major focus in Maybank’s five-year plan (M25+). The bank has integrated sustainable practices into its operations, emphasising a commitment to environmental responsibility and ethical business practices.
Demonstrating its dedication, Maybank Cambodia has taken concrete steps including contributing $1.68m towards sustainable finance, positively impacting 6,174 households to enhance their livelihoods.
The bank actively monitors its carbon impact and has implemented changes in transportation and paper consumption. It has also launched the ESG Minimum Standard Specification Initiative and devoted 2,550 hours to community empowerment initiatives. To help small businesses in Cambodia, Maybank has teamed up with Credit Guarantee Corporation of Cambodia (CGCC), giving out more than $2.01m in business loans. Its SME Building Capacity & Capability Programme has helped 200 small businesses and financial advisers.
Maybank Cambodia has won the Best Retail Bank in Cambodia award at the Annual Retail Banker International Asia Trailblazer Awards 2024.