Maybank Cambodia launches premier wealth service, opens 18th branch

KUALA LUMPUR: Maybank (Cambodia) Plc launched its “Maybank Premier Wealth” to provide personalised and comprehensive financial solutions to affluent customers in Cambodia and also opened its 18th branch in the country.

Maybank said on Tuesday these customers would have dedicated premier wealth relationship managers to assist them with their banking needs.

The banking group said the customers would enjoy preferential rates and charges, as well as exclusive privileges for selected Maybank banking services. These include financial and non-financial related products or services offered by selected Maybank partners, which ranges from insurance and health services to airport lounge facilities. 

“They will also have the exclusive opportunity to conduct their banking transactions in the privacy and comfort of the Maybank Premier Wealth Lounge, not only in Cambodia but also in Malaysia, Singapore and Indonesia,” it said. 

Maybank Premier Wealth was launched at a special ceremony in conjunction with the opening of its 18th branch in Boeng Keng Kang Ti Muoy in Phnom Penh. It will also showcase its first Premier Wealth Lounge.

“The launch of the new branch reinforces the bank’s commitment to expand its footprint across the nation and provide the Cambodian community with convenient access to banking services,” it said.

The launch was inaugurated by the director general, banking supervision of the National Bank of Cambodia Kim Vada, the ambassador of Malaysia Raszlan Abdul Rashid, the CEO of International of Maybank, Pollie Sim and CEO of Maybank (Cambodia) Plc Lee Tien Poh. 

Sim said the new service would provide a differentiated banking experience focusing on a partnership in which customers are given the utmost in personal attention and time.

This will allow the fostering of a relationship that will enable Maybank to offer products and services tailored to customers’ goals and aspirations. 

"Through this proposition, we aim to provide Maybank Premier Wealth customers of Cambodia with personalized and comprehensive financial solutions based on our multitude of regional and local insights to suit customers’ unique needs, as well as preferential treatment in service, perks and rewards," she said. 

"In line with our mission of humanising financial services, we aim to develop an even closer relationship with our customers providing them with exclusive services tailored to suit their needs. We see the opportunity to introduce the services in view of the growing potential in the country’s economy," she added. 

Sim said Cambodia’s gross domestic product (GDP) was expected to grow between 7.3% and 7.5 % from 2015 to 2019. 

"In view of the positive economic outlook and growing affluent segment in Cambodia, Maybank is targeting to boost its growth in total investable assets of this affluent segment to more than US$200mil for the first five years," Sim. 

She noted Cambodia’s emerging middle class and high income households, as well as the rise in consumer spending tied to this demographic. 

"The rise in income will see a parallel demand for various goods and services, including financial services which will further drive economic growth. Cambodia is beginning to see an increasingly sophisticated market, thus we have noted the special needs of this high net worth segment of customers who are looking for not just a banking provider, but also a progressive financial partner. 

"They have increasingly different lifestyle needs which we believe presents us an opportunity to create a niche market," she added.