From left: Bank of Hangzhou deputy chairman, president Yu Liming, Hangzhou Local Financial Regulatory Administration Bureau deputy director general Gao Fei and Maybank group chief strategy & transformation officer Dr Siew Chan Cheong.
PETALING JAYA: Malayan Banking Bhd
(Maybank) and the Bank of Hangzhou of China have tied up to enhance customer services and support cross-border business initiatives.
In a statement, Maybank said the collaboration will focus on enhancing cross-border business and advancing digital innovation.
“This partnership aims to facilitate services such as cross-border financing, interbank cooperation within China, and the clearing of South-East Asian currencies, while also connecting Chinese enterprises to a broader business ecosystem in the region.
“Additionally, both banks will explore opportunities in digital banking, including data governance, analytics, and Fintech product innovation, fostering joint product development, knowledge sharing, and talent development initiatives to enrich customer offerings in both markets.
Maybank president and group chief executive officer Datuk Khairussaleh Ramli said: “This collaboration would create a lot of opportunities for both banks by leveraging our strengths of extensive footprint and experience in Asean. We aim to provide comprehensive financial services as a one stop centre to support the Chinese enterprises expanding into South-East Asia.”
Maybank said the collaboration coincides with the upcoming 50th anniversary of diplomatic relations between China and Malaysia, highlighting the commitment of both institutions to fostering closer economic ties.
