19 January 2009
Singapore – Maybank has completed investigations of all cases related to Lehman Minibond programme notes. In the process, Maybank has taken additional care to ensure that priority was accorded to cases involving the vulnerable group.
To ensure consistency and fairness in the entire process, Maybank worked closely with the Independent Party, Mr Law Song Keng, in the establishment of an assessment framework. The assessment framework considered, amongst others, factors like age profile, literacy level and investment experience of the investor. We have been judicious in the application of this framework in our evaluation.
We have already started communicating the outcome to some of our customers. We are giving priority to those in the elderly group and this process should complete within the next 4 weeks.
The Maybank Group is the largest banking group in Malaysia and has been leading the banking industry for over three and a half decades. Globally, Maybank is present in 12 countries. In the ASEAN region, Maybank is among the top five banks with total assets of S$112 billion as at June 2008 and the Bank's biggest overseas presence is in Singapore. Maybank has also been ranked as Asia's 5th Best Big Bank according to a survey conducted by Mercer Oliver Wyman.
Maybank started its operations in Singapore in 1960 and is a Qualifying Full Bank with the most extensive network amongst the QFBs with 27 service locations (22 Branches and 5 Offsite ATMs). All the Branches and ATMs are strategically located in both the business districts and the suburban areas for the convenience of our customers.