4.23 million lives impacted with RM46.73 billion in social investments mobilised in the past decade
Maybank continued to build on its collective efforts as a purpose driven institution in serving its customers, stakeholders and communities across ASEAN through its Social Impact initiatives. Anchored on its purpose of being a values based platform powered by a bionic workforce that humanises financial services, Maybank progressed ahead by introducing its enhanced approach to Social Impact with the launch of its 2nd Social Impact Report (SIR) 2024 at the 65th Annual General Meeting, as part of its full suite of reports.
Maybank Social Impact Report 2024
Premised on a two-pronged approach to Social Impact, namely, Social Financing and Social Empowerment, Maybank sets the course for holistic socio-economic growth towards realising a sustainable future for all in ASEAN and beyond.
Social Financing initiatives
Under Social Financing, Maybank has served over 480,000 customers across ASEAN in 2024 by providing financing solutions and facilities for the lower income segments of society including individuals and Micro, Small and Medium Enterprises (MSMEs). This includes disbursement of affordable and accessible mortgages and automobile financing and insurance offerings to the tune of over RM12.18 billion for the same period.
Social Empowerment initiatives
On the Social Empowerment front, Maybank strengthened its focus on capacity building and skills development under three key pillars of Education, Community, and Environment. These initiatives include scholarships, tuition and bursaries, financial literary, entrepreneurship and vocational skills, sustainability and environment conservation as well as zakat contributions. It supports a wide beneficiary segments, namely, Students & Youth, Marginalised Communities (including Persons with Disabilities (PWDs)) as well as Women.
Over the last 10 years to date, Maybank’s Social Empowerment initiatives have touched 2.37 million lives. Currently, there are 75 ongoing Social Empowerment initiatives, with Maybank investing more than RM67.68 million, benefitting 799,427 lives across ASEAN in 2024.
At the heart of driving these pillars is Maybank Foundation, which is the Group’s social impact arm. It is an accredited entity with ASEAN, the first and only financial institution to achieve this since the establishment of ASEAN. Through its programmes, Maybank Foundation has invested RM37.46 million, supporting over 80,660 lives in 2024. Since its inception in 2010, Maybank Foundation has touched over 542,820 lives across ASEAN, positively impacting communities through its financial inclusion and empowerment programmes.
Maybank also champions Social Empowerment efforts via its zakat contributions from Maybank Islamic and Etiqa. In 2024, RM23.69 million was mobilised for bursary and community-led initiatives, collectively uplifting 75,855 lives.
Comments from Maybank Chairman and President & Group CEO
Tan Sri Dato’ Sri Ir. Zamzamzairani Mohd Isa, Chairman of Maybank said that as a leading financial institution in ASEAN, Maybank remains committed to go beyond generating financial returns, in ensuring holistic value creations for all its stakeholders including the communities it serves.
“Maybank’s legacy will not be defined by merely our profits, but by the values we uphold and the lives we transform. Since the inception of Maybank in 1960, we continue to spearhead various efforts to ensure the social well-being of the stakeholders we serve by providing financial solutions that are customised to our customers’ needs while supporting communities via our visible and transparent investments. In realising this commitment, we are pleased to share that we have uplifted 4.23 million lives across ASEAN via our Social Financing and Social Empowerment initiatives, contributing RM46.73 billion from 2014 - 2024.”
Dato’ Khairussaleh Ramli, President & Group Chief Executive Office of Maybank said that Maybank firmly believes that profit and purpose can go hand in hand, and Social Impact remains a vital component for Maybank to generate sustainable outcomes for the communities it serves, while continuously empowering its customers via affordable financing solutions.
“As the world continues to evolve owing to geo-political and economic uncertainties, Social Impact is a key differentiator for Maybank as we champion efforts towards humanising financial services. On our end, we remain on track to deliver on our commitments, uplifting 1.28 million lives and disbursing RM12.36 billion in social investment in 2024.”
“This is aligned to Maybank’s support of Malaysia’s ASEAN Chairmanship this year, premised on our complementing themes of Sustainability, Inclusive Economy, Islamic and Values-Based Finance, and Social Impact. In times of change, our purpose keeps us anchored. Maybank is here to lead, to empower and to create pathways for societal progress, and ultimately, a more resilient and equitable ASEAN.”
Social Empowerment Pillar Highlights
Education
Under this pillar, Maybank has positively impacted 650,271 students and youth in 2024. Maybank continues to invest in the next generation of leaders through flagship programmes such as the ASEAN Maybank Scholarship (AMS), a unique cross-country approach which awards ASEAN scholars in top ASEAN universities, and the Maybank Group Scholarship Programme (MGSP). To date, these initiatives have benefited over 2000 scholars who are pursuing their higher education, helping them build brighter futures for themselves and their communities.
In addition, Maybank remains steadfast in empowering children and youth through programmes such as Maths for Rural Kids (MARK) tuition, CashVille Kidz (CVK) for financial literacy and its volunteer movement, eMpowering Youths Across ASEAN (eYAA), giving them the tools and platforms to thrive.
In 2024, CVK reached 40,088 students across seven countries. Meanwhile, eYAA’s 4th Cohort, mobilised 99 youths to 10 community projects across ASEAN. The programme had benefitted a total of 28,939 individuals from local communities from Malaysia, Indonesia, Singapore, Cambodia, the Philippines and Thailand.
Key contribution for bursaries was mobilised via specific zakat initiatives, providing support to asnaf students via Maybank Islamic’s Semarak Ilmu and Zakat Assistance to Higher Learning Institutions programmes as well as Etiqa’s Education Programme. Close to 15,000 beneficiaries were impacted in 2024.
Community
Maybank continues to create positive social impact across ASEAN, understanding the importance of financial inclusion and economic independence, especially for marginalised communities, through its flagship entrepreneurship-based programmes like Reach Independence & Sustainable Entrepreneurship (R.I.S.E.) and Maybank Women Eco-Weavers (MWEW).
With its special focus on PWDs, R.I.S.E. expanded from five to six countries in 2024, running in Malaysia, Indonesia, the Philippines, Laos, Cambodia and Singapore. A total of 7,950 participants were trained, with results showing that the top 40% of R.I.S.E. participants experienced a 275.02% income increase, while the overall average income rose by 140.43%. Meanwhile, MWEW continues to run actively in Indonesia, Cambodia, Laos, and Malaysia with 775 women weavers and farmers trained in 2024. The programme focuses on efforts to preserve ASEAN’s cultural weaving heritage by empowering women from marginalised communities through financial independence and sustainable livelihoods.
Under zakat contributions for the communities, Maybank supported close to 61,000 lives in 2024. This was driven by Maybank Islamic’s and Etiqa’s community programmes. Key initiatives included delivering food aid to the underprivileged segment in 12 countries via Regional Ramadan Relief. In addition, zakat contributions also were centred on mobilising welfare aid, providing entrepreneurship trainings covering halal business, and enabling access to clean water.
Environment
In support of the environment, Maybank actively contributes to protect the critically endangered Malayan tiger, whose wild population is estimated at fewer than 150. Now in its 3rd phase of collaboration with WWF-Malaysia, and relevant government agencies, Maybank continues to support efforts to monitor and protect this majestic species through patrols, habitat preservation and community engagement, within the Belum Temengor Forest Complex, Perak, Malaysia.
The Maybank ASEAN Social Impact Grant (MASIG) is a new programme which focuses on community-based Nature-Based Solutions (NBS) and income diversification for the Orang Asli communities in Pos Raya and Pos Poi, Perak, Malaysia. Currently running at the pilot stage, the programme drives development of bamboo-based regenerative economy and promotes eco-tourism.
First introduced in 2024, the SIR is the first of its kind published by a financial institution in this region, aligned with global and Maybank Group’s sustainability agenda, and its impact objectives designed to address United Nations Sustainable Development Goals (UN SDGs). The inaugural SIR was a finalist for the Sustainability Reporting & Communications category, where Maybank was also the only ASEAN company nominated at the overall prestigious 18th edie Awards which recognise and reward those people, projects and partnerships that are transforming business, for good.
The latest SIR which also features beneficiaries’ impact stories can be downloaded at https://www.maybankmib.com/en/investor-relations/financial-overview/annual-reports.page.