Maybank wins big at Asset Triple A Islamic Finance Awards

PETALING JAYA: Maybank Group was honoured with 20 awards at the recent Asset Triple A Islamic Finance Awards 2017 in recognition of its steady growth and sustained leadership in 2016.

Maybank Islamic Bhd bagged the award for the Islamic Bank of the Year, Asia Pacific and the Malaysian operations also won in the Best Islamic Bank and Best Retail Bank categories, marking the bank’s seventh consecutive wins to date.

Maybank Singapore was named The Islamic Bank of the Year and Best Retail Bank in Singapore.

The bank, which structured its first syariah-compliant hotel financing deal in Singapore last year, also won in the Best Islamic Deal, Singapore category.

The S$260mil Islamic financing deal was considered the first-of-its-kind for the country as hospitality-related assets are not typically used in Islamic financing.

It was also one of the biggest Islamic deals in the republic.

In a statement, the banking group said Maybank Islamic also emerged as the winner in the Best Local Currency Sukuk and Best Islamic Syndicated Financing categories.

Maybank’s other subsidiaries, Maybank Kim Eng and Maybank Investment also clinched 12 other awards in the best Sukuk and best Islamic deal segments, including the Sukuk House of the Year award for Maybank Kim Eng.

Derived from key markets in Malaysia, Singapore and Indonesia, Maybank Group Islamic Banking’s pre-tax profit rose 13.4% to RM1.95bil while total income grew 12.9% to RM3.87bil, and financing increased 15.7% to RM159.48bil in the financial year ended Dec 31, 2016.

Maybank group head, Islamic banking and Maybank Islamic CEO Datuk Mohamed Rafique Merican attributed the wins to the strong internal collaboration and support from the rest of the teams at Maybank Group.

“Getting a recognition like this will surely push us forward to further strengthen our resolve to stay ahead in the industry and we will continue to be committed in providing innovation solutions to our customers,” he said.