Maybank completes transfer of CFS business

Maybank Islamic Bhd. expects to get regulatory approvals to set up its Dubai branch in the first half of next year.

PETALING JAYA: Malayan Banking Bhd (Maybank) has successfully completed the transfer of its community financial services (CFS) business to its Singapore-incorporated subsidiary, Maybank Singapore Ltd (MSL).

“Moving forward, MSL operates CFS business consisting of retail (personal banking, privilege wealth and premier wealth), private wealth, small medium enterprises retail banking and commercial banking business in Singapore,” Maybank said in a statement.