A year from the launch of its M25 Plan, Maybank says it is on track to meet the goals under its M25 Plan and will continue to accelerate efforts to unlock greater value for all its stakeholders.
The banking group added that this will be achieved by enhancing its digital capabilities, discovering more new value drivers for business growth as well as championing sustainable practices.
Maybank Chairman Tan Sri Zamzamzairani said that despite the challenging circumstances arising from the pandemic and geo-political uncertainties, Maybank recorded commendable financial performance in 2021. Net profit grew by 24.9% YoY to RM8.10 billion mainly owing to its resilience and robust financial strength. The Bank also made a higher dividend payout in 2021, totaling 58 sen per share, recording a dividend yield of 7% which was one of the highest among banks in the region.
“With our key markets increasingly moving toward the endemic stage, the expectation is that there would be greater economic recovery across the region – boosted by enhanced vaccination rollouts and the easing of border control restrictions. These are positive signs and we believe it puts us in the driving seat to ensure we achieve our M25 goals.”
“M25 is anchored by our mission of humanising financial services and has a clear strategy focusing on three priorities – namely Pervasively Digital, New Value Drivers, and Sustainability. In the course of a year, these pillars have served its respective purpose and have tracked our planned milestones.”
Meanwhile, Dato’ Sri Abdul Farid Alias said that the Group’s focus on building the three strategic priorities has enabled it to stay ahead of the curve and continue serving the community, especially during the outbreak of the pandemic.
“Our expertise to operate as a digital bank, in addition to our role as a traditional bank demonstrates our strength to provide cutting-edge solutions for our customers. Over the last year, we have been able to design our own lifestyle applications, introduce digital financing solutions in Malaysia cut across retail and non-retail segments for products such as a mortgage, personal, and SME financing, and allowed for KYC processes to be undertaken digitally in Singapore, Indonesia, and the Philippines, amongst others,” he explained.
Maybank is also continuing efforts to drive a responsible transition to a low-carbon economy, empower communities across ASEAN, and lead with good governance practices. Among its targets include, Mobilising RM50 billion in Sustainable Finance by 2025, Improving the lives of 1 million households across ASEAN by 2025, Carbon neutral position for scope 1 and 2 emissions by 2030 and net zero carbon equivalent position by 2050, and Achieving 1 million hours per annum on sustainability and delivering 1 thousand significant SDG related outcomes by 2025.
Maybank employees have spent over 1.6 million hours on sustainability in 2021, exceeding the target of 1 million hours.
