Maybank launches premier banking services in Philippines

Datuk John Chong (fifth from left), Fauziah Hisham, chairperson of Maybank Philippines (sixth from left), and Michael Foong (seventh from left), with Maybank Group

KUALA LUMPUR: Malayan Banking Bhd launched Maybank Premier, its premier banking services in the Philippines as it continues to develop its group wealth management (GWM) franchise to capitalise on the region’s growth trajectory.

It opened its first premier centre in the country at the Maybank Ayala Avenue branch, Makati City, according to its statement issued on Thursday. 

Maybank also partnered with Visa, the leading global payments solutions, to introduce the Maybank VISA Infinite Credit Card to provide its premier clients in the Philippines with distinct lifestyle privileges.  

Datuk John Chong, group CEO, community financial services of Maybank said the banking group has been serving the community in the Philippines for more than 20 years.

“We are excited to officially launch  Maybank Premier Banking there to better cater to our premier clients’ requirements and provide them with priority service through our premier centre. 

“This is in line with the bank’s focus to continue to develop our GWM franchise to capitalise on the region’s growth trajectory, and the Philippines is one of the fastest growing economies in Asean with a burgeoning middle class.”

Chong said Maybank’s GWM business grew by 10.6% in investment assets under maagement (AUM) to RM24.6bil on the back of a 18.3% growth in customer base to over 780,000. It is also targeting a double digit growth this year. 

Maybank’s group chief strategy officer and CEO, international business, Michael Foong was confident the bank’s strong Asean footprint will be a distinctive proposition to its clients. 

“Maybank’s Premier Banking network covers six countries with 67 Maybank Premier centres in Asean. We believe that as the Asean economic bloc continues to prosper, and business and trading ties within the region strengthen, more and more of our clients will be able to benefit from Maybank’s robust Asean connectivity.” 

Maybank Premier is a personalised banking service focused on delivering wealth advisory and solutions, personalised approach and lifestyle privileges for high net worth individuals. 

Each premier client will be assigned a relationship manager, who, with the understanding of their client’s risk profile and financial goals, will provide customised solutions and recommend appropriate banking and investment products. 

The assigned relationship manager will then draw up a strategy that will assist their clients in growing and preserving their wealth and legacy for generations to come. 

The Maybank VISA Infinite Credit Card, which was concurrently launched in the Philippines, is for Maybank’s premier clients who are frequent travellers and enjoy the finer luxuries in life.