What are the best banks in Malaysia?

The best banks in Malaysia are:

  • Maybank is the largest bank in the country in terms of total assets and market capitalization
  • CIMB Bank is part of the CIMB Group
  • Public Bank Berhad
  • RHB Bank
  • Hong Leong Bank

Malaysia is part of The Association of Southeast Asian Nations (ASEAN). The best banks in Malaysia also operate throughout ASEAN countries.

What are the best banks in Malaysia?

If you need a bank in Malaysia, you have a lot of options. Malaysia is home to a number of strong local banks, regionally active institutions, and global banking behemoths. Each has its own set of features and perks, so doing your homework to find the best one for you will be necessary. To get you started, here are some helpful hints. 

Maybank

Maybank is the largest bank in the country in terms of total assets and market capitalization. It is also one of the largest banks in Southeast Asia. It provides a wide range of banking products and services through its extensive network of more than 2600 offices, spanning most ASEAN countries and global financial centers. 

Maybank2u is Maybank’s online banking system, which allows users to engage and manage their money in a simple and secure manner. Online banking accounted for billions of transactions. You can also open accounts, including savings accounts, online with Maybank. Maybanks’ MAE allows you to budget, make cashless payments, and use Shariah-compliant services, among other things. Maybank also offers a variety of specialty accounts. It offers also a variety of savings accounts.

CIMB Bank

CIMB is one of Asia’s leading investment banks and one of the world’s largest Islamic banks. Group Holdings Berhad is a Malaysian universal bank headquartered in Kuala Lumpur. It is operating in the high-growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank. CIMB has a wide retail branch network with 1,080 branches across the region. Its main offices are in Kuala Lumpur, Malaysia. CIMB places a strong emphasis on social responsibility.

CIMB Clicks is the bank’s internet banking service. CIMB Clicks accounts are used by millions of people in Malaysia alone. 

RHB Bank

RHB Bank Berhad was incorporated in Malaysia as a public limited company under the name of DCB Holdings Berhad. RHB Capital was listed on the Main Board. It has more than 300 branches throughout Southeast Asia. More than 14000 staff works in ten different countries.

RHB is Malaysia’s fourth-largest financial services business, providing strong online and mobile banking solutions to make clients’ lives easier. Some accounts can be opened online, and you can manage your money on the go using your favorite device.

Hong Leong Bank

Hong Leong Bank began its operations in 1905 in Kuching, Sarawak under the name of Kwong Lee Mortgage & Remittance Company. The company granted loans against the security of export commodities such as pepper, rubber, and other indigenous products. It also provided the services of remitting money of overseas Chinese to their families in the Southeast region of China. It has more than 300 branches throughout Malaysia. It works with Malaysia, Singapore, China, and Hong Kong.

Public Bank Berhad

Public Bank is Malaysia’s third-largest bank. It employs 19,000 people. It operates throughout Southeast Asia and beyond. It has around 400 branches across the region.
Personal and business banking, Islamic banking, investments, and insurance products are all available.
Accounts, loans, and insurance are only a few of the products and services offered by Public Bank. In reality, Public Bank controls approximately 20% of the residential property finance sector and nearly 30% of the passenger vehicle financing market. 


Source: Wise

The cover image is somewhere in Bukit Bintang, Kuala Lumpur, Malaysia. Photo by Danial H on Unsplash