As a results of the Leap30 programme, Malayan Banking Bhd (Maybank) is hoping to capitalise by growing to be one of the top five banks in South and South-East Asia by 2015, according to Datuk Seri Abdul Wahid Omar, President and Chief Executive Officer of the banking group.
Omar said, ‘Leap30 has already made a positive impact on the group’. He continued by saying, ‘The results since we launched the programme last year have been encouraging – for example, the initiatives led to a RM40mil contribution in pre-tax profit plus cost savings of RM143mil for the financial year ended June 30 (FY09)’.
The Leap30 programme is the banks performance improvement programme, whereby three key strategies are focused upon. These include securing the position of the country’s leading financial services provider, strengthening the banks regional presence in its current countries as well as looking for growth opportunities in other regional markets and lastly, becoming a talent and execution-focused company.
This programme intends to get the bank to the top five status through its implementation in two waves. These waves consist of 30 different initiatives to which 16 have already been carried out, with another four due to be executed before December.
However, although the outcome looks positive for the Leap30 programme, one local analyst, although stating Maybank’s success had been positive so far due to the growth of its regional Islamic banking business, said ‘It has only been a year since it started the programme so it is still too early to say if it will succeed’.
Source: GIF Correspondent
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