List of Banks in Malaysia Overview and Directory

Malaysia has a well-developed banking system with numerous banks offering a range of financial services. There are over 40 commercial banks operating in Malaysia.

The banking system in Malaysia is regulated by the Central Bank of Malaysia, also known as Bank Negara Malaysia. This regulatory body ensures that banks operate within the country's banking laws and regulations.

Many banks in Malaysia offer a wide range of services, including personal banking, corporate banking, and Islamic banking.

Malaysia has a diverse banking system with a range of commercial banks, Islamic banks, and digital banks. You can find a total of 37 licensed banking institutions in Malaysia, according to the List of Licensed Banking Institutions in Malaysia.

Some of the notable banks in Malaysia include Public Bank Berhad, which was founded in 1966 and has over 259 branches across the country, as well as HSBC Bank Malaysia Berhad, which has been operating in Malaysia since 1884 and has over 60 branches.

Here's a list of some of the commercial banks in Malaysia:

Central banks play a crucial role in a country's economy. Bank Negara Malaysia, also known as the Central Bank of Malaysia, is the country's central bank.

In Malaysia, the central bank is responsible for managing the country's monetary policy. It aims to maintain price stability and promote economic growth.

The central bank is also responsible for regulating and supervising the banking industry. This includes ensuring that banks operate safely and soundly.

Here's a list of key responsibilities of the central bank:

Commercial banks in Malaysia play a vital role in the country's economy, providing various financial services to individuals and businesses. Malaysia has a diverse range of commercial banks, both local and foreign-owned.

Maybank is the largest bank in Malaysia, with total assets of 947.8 billion Malaysian ringgit as of 31 December 2023. CIMB is the second-largest bank, with total assets of 733.6 billion Malaysian ringgit.

Public Bank is the third-largest bank in Malaysia, with a focus on retail customers and small and medium-sized enterprises. It has over 19,000 employees and about 260 branches nationwide.

Here's a list of the top 5 largest banks in Malaysia:

HSBC Bank Malaysia Berhad is one of the oldest foreign-owned banks in Malaysia, with over 60 branches across the country.

Maybank is a Malaysian universal bank that was established in May 1960. With 58 years of experience in the banking industry, it has become one of the leading banks in Southeast Asia.

Maybank offers various financial services such as commercial banking, insurance, investment, asset management, stock broking, mobile banking, and trustee services. Its annual report shows that the bank reaped a RM7.52 billion net profit and achieved a market capitalisation of over RM100 Billion.

Maybank operates in over 2400 branches across 20 countries, including all 10 ASEAN countries. This widespread presence has enabled the bank to cater to a diverse range of customers.

Maybank was listed as one of the top 10 ASEAN bank brands and was titled as the most valuable bank brand in Malaysia. Its market capitalisation of over RM100 Billion makes it the first company on Bursa Malaysia to break such a market cap.

Here's a brief overview of Maybank's key statistics:

Foreign banks have a long history in Malaysia, with some dating back to the 19th century. HSBC was one of the oldest foreign-owned banks established in Malaysia, opening its first office in 1884 on the island of Penang.

Some of the largest foreign banks operating in Malaysia include UOB, OCBC, HSBC, Standard Chartered, Citibank, MUFG, BNP Paribas, and JPMorgan Chase. These banks offer a range of financial services to both individuals and businesses.

There are over 15 foreign banks licensed to operate in Malaysia, including American Express Bank (Malaysia) Berhad, Bank of America Malaysia Berhad, and Bank of China (Malaysia) Berhad. Here is a list of some of the foreign banks licensed to operate in Malaysia:

Malaysia is home to a diverse range of foreign banks, each with its own unique offerings and strengths. These institutions have been established in the country for decades and have become an integral part of the financial landscape.

Some of the largest foreign banks operating in Malaysia include UOB, OCBC, HSBC, Standard Chartered, Citibank, MUFG, BNP Paribas, and JPMorgan Chase. These banks have a significant presence in the country, with a large number of branches and employees.

OCBC Bank (Malaysia) Berhad is one of the biggest foreign banks in the country by assets, deposits, and loans. It provides a wide range of services, including business and investment banking, retail banking, Islamic banking, and transaction banking.

HSBC Bank Malaysia Berhad has a long history in the country, dating back to 1884 when it opened its first office on the island of Penang. Today, it has over 60 branches across Malaysia and offers a broad suite of personal and commercial banking services.

Citibank Berhad has been operating in Malaysia since 1994 and has a significant presence in the country, with over 11 branches and over 11,000 MEPS ATMs in 2000 locations across the country.

Here's a list of some of the foreign banks operating in Malaysia:

Opening a bank account in Malaysia as a foreigner is relatively straightforward. You'll need to submit your valid passport and one of the following documents: a permanent work permit, letter of business partnership, or MM2H visa.

To open a bank account, you'll typically need to provide proof of address. This is a common requirement across most banks in Malaysia.

You can open one of three types of accounts: a Personal Savings Account, a Current Account, or a combination of both. Some banks also offer credit cards to expats, including HSBC, Citibank, and Maybank.

In Malaysia, there are 18 Islamic banks that cater to the needs of Muslims and non-Muslims alike. These banks offer Shariah-compliant financial products and services.

One of the notable Islamic banks in Malaysia is Affin Islamic Bank Berhad, which is a well-established player in the industry. Another prominent bank is Al Rajhi Bank, which has a strong presence in the country.

Some of the other Islamic banks in Malaysia include Alkhair International Islamic Bank Malaysia, Alliance Islamic Bank Berhad, and AmBank Islamic Berhad. These banks offer a range of services, from personal financing to corporate banking.

Here is a list of the 18 Islamic banks in Malaysia:

Malaysia has a diverse range of investment and financial institutions.

Some of the notable investment banks in Malaysia include Affin Hwang Capital, Alliance Investment Bank Berhad, and CIMB Investment Bank Berhad, which has partnered with BDO Uni-bank as Authorized Agent Bank For International Tax Collection.

These investment banks offer a range of services, including mergers and acquisitions, equity and debt capital markets, and corporate finance.

Here's a list of some of the investment banks in Malaysia:

Malaysia is also home to a number of foreign banks, which offer a range of financial services to both local and international clients.

Digital FinTech institutions are transforming the way we manage our finances. GX Bank Berhad is a notable example, led by a consortium of GXS Bank Pte. Ltd. and Kuok Brothers Sdn. Bhd.

Boost Bank Berhad is another digital bank in Malaysia, formed by a consortium of Boost Holdings Sdn. Bhd. and RHB Bank Berhad.

There are also Islamic digital banks emerging, but no specific details are provided about them in the given article section.

In Malaysia, investment banks play a crucial role in the country's financial landscape. Affin Hwang Capital is a notable example, formed after the merger between Affin Investment Bank and Hwang-DBS Investment Bank.

Several investment banks have partnered with international banks to expand their services. CIMB Investment Bank Berhad, for instance, partnered with BDO Uni-bank as Authorized Agent Bank For International Tax Collection.

Some of the prominent investment banks in Malaysia include Hong Leong Investment Bank Berhad and Public Investment Bank Berhad. These banks offer a range of services, from corporate finance to investment research.

Here's a list of some of the notable investment banks in Malaysia:

These investment banks have undergone mergers and acquisitions, such as the merger between MIMB Investment Bank Berhad and Hong Leong Investment Bank.

Development financial institutions in Malaysia play a crucial role in supporting the country's economic growth and development. These government-owned banks provide financial assistance to various sectors, including small and medium enterprises.

The list of development financial institutions in Malaysia includes Agro Bank Malaysia, Bank Rakyat, Bank Simpanan Nasional, and Export-Import Bank of Malaysia Berhad (Exim Bank).

Other notable institutions are Bank Perusahaan Kecil & Sederhana Berhad (SME Bank Berhad), Sabah Development Bank Berhad (SDB), Sabah Credit Corporation (SCC), and Tabung Haji.

The government also has a Credit Guarantee Corporation Malaysia Berhad (CGC) that provides guarantees to small and medium enterprises. Malaysia Debt Ventures Berhad is another institution that provides financial assistance to small and medium enterprises.

In October 2023, Malaysian Industrial Development Finance Berhad (MIDF) merged with MBSB. Bank Pembangunan Malaysia Berhad (BPMB) is the development bank of Malaysia.

Here is a list of development financial institutions in Malaysia:

Malaysia has a wide range of banks offering debit card services, with most mainline banks being members of the MEPS ATM network. This means you can withdraw cash from ATMs affiliated with MEPS without incurring high charges.

The Central Bank of Malaysia has mandated that all debit cards issued in Malaysia be co-branded with the local network 'MyDebit' by 2017. This ensures that you can use your debit card at any ATM that accepts MyDebit.

Some notable banks that offer debit card services include Maybank, Public Bank, and CIMB Bank, all of which are members of the MEPS ATM network.

In Malaysia, several banks issue debit cards that can be used for various purposes. Al-Rajhi Islamic Bank, Affin Bank, and Affin Islamic are among the banks that issue debit cards.

These banks offer MEPS ATM services, allowing cardholders to withdraw cash from ATMs across the country. Their main brands include Visa Electron and Mastercard.

Some of these banks co-brand their cards with MyDebit, a local network. For example, Affin Bank and Affin Islamic co-brand their cards with MyDebit.

Other banks like Bank Islam, Bank Rakyat, and Public Bank also offer MEPS ATM services. However, Bank Rakyat and Muamalat do not co-brand their cards with MyDebit for non-ATM use.

The following banks issue debit cards with MEPS ATM services:

If you're in the market for a prepaid card, you've got plenty of options to choose from. Here are some of the top prepaid card issuers in Malaysia.

Merchantrade Asia offers a prepaid card with a starter pack cost of RM100 and an annual maintenance fee of RM10. AEON Credit Service, on the other hand, has a free maintenance fee for its prepaid card, with a starter pack cost of RM25.

Alliance Bank offers a prepaid card with no starter pack cost and no annual maintenance fee, making it a great option for those who want to avoid any upfront costs. AmBank Berhad's prepaid card has a starter pack cost of RM25 and a monthly maintenance fee of RM3.

Bank of China (Malaysia) offers a prepaid card with a starter pack cost of RM25, and users can make purchases abroad with the card, with charges in Chinese Yuan. CIMB Bank Malaysia's prepaid card has a starter pack cost of RM10 and an annual maintenance fee of RM10.

Maybank offers two prepaid card options, one with an American Express card and a starter pack cost of RM15, and the other with a Visa card and a starter pack cost of RM20. RHB Bank Berhad offers a prepaid card with a starter pack cost of RM24 and an annual maintenance fee of RM24.

BigPay Malaysia offers a prepaid card with a starter pack cost of RM10, waived if you perform an initial reload of RM20, and no annual maintenance fee.

Some Malaysian banks have ceased operations or merged with other banks over the years.

Malaysia's banking industry has undergone significant changes with the merger of Public Bank with EON Bank in 2012.

The merger led to the creation of a stronger and more competitive bank, with Public Bank now being one of the largest banks in Malaysia.

The Silver State Bank, which failed in 2009, was one of the many banks that shut down due to the financial crisis.

Its collapse was a significant event, with deposits totaling over $100 million.

The bank's failure was a result of its heavy involvement in subprime lending.

The collapse of the Silver State Bank was a stark reminder of the risks associated with subprime lending.

The bank's demise led to a significant loss for its depositors, who were left with limited options.

The FDIC stepped in to resolve the situation, ensuring that depositors received their insured deposits.

The First National Bank of the South merged with the First National Bank of Georgia in 1931, creating the First National Bank of Atlanta.

This merger was a result of the Banking Act of 1930, which allowed banks to merge and form larger institutions.

The First National Bank of Atlanta was later merged with the Citizens and Southern National Bank in 1998, forming Citizens and Southern Corporation.

The First National Bank of Boston merged with the Bank of New England in 1988, forming the Bank of New England Corporation.

The First National Bank of Boston was later merged with the Fleet Bank in 1999, forming FleetBoston Financial Corporation.

The Bank of New England was also merged with the Shawmut National Corporation in 1993, forming the BankBoston Corporation.

The First National Bank of Nebraska was acquired by the First National Bank of Omaha in 1906.

The First National Bank of Omaha was a prominent bank in the region at the time.

The First National Bank of Iowa was also acquired by the First National Bank of Omaha in 1912.

This acquisition expanded the bank's reach and services in the Midwest.

The First National Bank of Omaha continued to grow through acquisitions, including the Bank of Lincoln in 1923.

This strategic move strengthened the bank's position in the state.

The First National Bank of Omaha's acquisition of the Bank of Omaha in 1930 marked a significant milestone in the bank's history.

This acquisition cemented the bank's status as a leading financial institution in the region.

The First National Bank of Chicago was renamed to Bank One in 1998.

The bank was acquired by JPMorgan Chase in 2004 and merged into its operations.

Bank of America acquired the First Boston Corporation in 1988 and renamed it to Bank of America Securities.

The company was previously known as Kidder, Peabody & Co.

The Bank of New York was renamed to Bank of New York Mellon in 2007.

It was formed by the merger of the Bank of New York and Mellon Financial Corporation.

The First National Bank of Nebraska was renamed to First National Bank of Omaha in 1993.

The bank was founded in 1863 and is still operating today.

The Security Pacific National Bank was renamed to Bank of America in 1992.

The bank was acquired by Bank of America in a $1.4 billion deal.

Maybank holds the top spot as the largest bank in Malaysia, with total assets of 947.8 billion Malaysian ringgit as of 31 December 2023. This is a significant amount, and it's no wonder they're the biggest.

CIMB comes in second, with total assets of 733.6 billion Malaysian ringgit. Public Bank takes third place, with 493.3 billion Malaysian ringgit in assets. These three banks are the largest in Malaysia, and they're followed closely by RHB and Hong Leong Bank.

Here's a list of the top 5 banks in Malaysia by total assets as of 31 December 2023:

Maybank stands out as the largest bank in Malaysia, boasting an impressive total of 947.8 billion Malaysian ringgit in assets as of 31 December 2023.

This is a significant lead over CIMB, which ranks second with 733.6 billion Malaysian ringgit in assets. The top three banks in Malaysia - Maybank, CIMB, and Public Bank - have a substantial presence in the country's banking landscape.

Public Bank ranks third with 493.3 billion Malaysian ringgit in assets, followed closely by RHB with 310.8 billion Malaysian ringgit. The top five banks in Malaysia are Maybank, CIMB, Public Bank, RHB, and Hong Leong Bank, which has 265.2 billion Malaysian ringgit in assets.

Here is a list of the top 5 banks in Malaysia by total assets as of 31 December 2023:

These banks play a crucial role in Malaysia's economy, providing various financial services to individuals and businesses.

Malaysia's leading banks offer a wide range of services to cater to the diverse needs of their customers.

Maybank, one of the largest banks in Malaysia, provides a comprehensive suite of services including consumer and corporate banking, investment banking, and Islamic banking.

CIMB Bank offers a variety of services such as credit cards, loans, and insurance.

Public Bank is known for its commitment to customer service, with a dedicated team available to assist with banking queries.

HSBC Malaysia provides 24/7 customer service through its call center and online banking platform.

RHB Bank offers a range of personal banking services including savings accounts, fixed deposits, and credit cards.

Malayan Banking Berhad (Maybank) is one of the most popular banks in Malaysia, offering a wide range of financial services for businesses and individuals.

These retail and corporate banks maintain a strong digital presence and secure platforms, ensuring smooth transactions.

CIMB Group Holdings Berhad (CIMB) is another leading bank in Malaysia, providing solutions tailored to various industries, from business banking to personal finance management.

Public Bank Berhad is also a prominent bank in the country, with a comprehensive database covering key product and services with contact information.

You can easily access the websites of these banks and find their location addresses for easy reference, helping you find the right financial partner quickly.

Their services include corporate lending, international trade financing, wealth management, and more, making it easier to connect with the financial institutions that meet your needs.

The banking sector in Malaysia is thriving, with a strong presence of commercial banks, investment banks, and Islamic banks. The country has 27 commercial banks, 11 investment banks, and 18 Islamic banks.

Malaysia's banking sector is well-capitalized and profitable, with a sustained pace of growth expected in the coming years. This is a testament to the country's economic progress and its aim to become a high-value added, high-income, and cashless economy by 2020.

Government-Owned Banks play a vital role in Malaysia's financial landscape.

Agro Bank Malaysia, Bank Rakyat, and Bank Simpanan Nasional are just a few examples of government-owned banks in the country.

These banks offer a range of services, including loans and credit facilities to support the growth of small and medium enterprises.

Bank Rakyat, for instance, provides financing options for small businesses and farmers.

The Export-Import Bank of Malaysia Berhad (Exim Bank) helps facilitate international trade by providing financing for exports and imports.

Bank Perusahaan Kecil & Sederhana Berhad (SME Bank Berhad) offers financing and other services to support the development of small and medium enterprises.

The following list shows some of the government-owned banks in Malaysia:

These government-owned banks have played a significant role in supporting the growth of various sectors in Malaysia, including agriculture and small businesses.

Malaysia has a strong and innovative financial sector, with 27 commercial banks, 11 investment banks, and 18 Islamic banks.

The country's banking sector is well-capitalized and retains profitability, which is a key factor in its economic growth.

Malaysia has a diverse banking landscape with several country-specific banks operating in the country.

Malaysia is home to Maybank, the largest bank in the country, which has a significant presence in Singapore.

OCBC Bank and United Overseas Bank (UOB) are two other notable country-specific banks in Malaysia.

These banks offer a range of financial services, including personal and corporate banking, wealth management, and investment banking.

OCBC Bank has a long history in Malaysia, dating back to 1912, when it was established as the Oversea-Chinese Banking Corporation.

United Overseas Bank (UOB) was established in 1935 and has since become one of the largest banks in Malaysia.

These country-specific banks have a significant presence in Malaysia, with a strong network of branches and ATMs across the country.

The Malaysian government has implemented various initiatives to promote the growth of the country's banking sector, including the establishment of the Labuan International Business and Financial Centre.

This centre aims to provide a platform for international banks to operate in Malaysia and offer a range of financial services to international clients.