KUALA LUMPUR: Malayan Banking Bhd (Maybank) plans to invest RM3.5 billion to RM4.5 billion over the next three to five years to implement 12 strategic programmes in its refined five-year corporate strategy, M25+.

Group president and CEO Datuk Khairussaleh Ramli said the corporate strategy will see it refining five key thrusts through the investments.

“About 77% of the total investments will be for technology, covering two main areas namely tech-for-tech which includes back-end integration of our banking infrastructures such as data platforms, channel integration, IT rationalisation, cybersecurity and API layers among others and tech-for-business to support the delivery of the outcomes,“ he told a media briefing at the launch of M25+ today.

Khairussaleh said Maybank will institutionalise these 12 programmes group-wide to drive successful outcomes of its five thrusts.

These 12 programmes are: reshape the wholesale target operating model, build a regional transaction banking proposition, reimagine the consumer banking and SME banking customer journeys, build global Islamic banking leadership, become a regional leader in insurance, uplift Indonesia, redefine international footprint, be the sustainability leader in Southeast Asia, elevate Maybankers, drive hyperpersonalisation through advanced analytics, and build next-gen technology capabilities.

Meanwhile, the five thrusts will build on the foundation laid by the previous M25 plan rolled out last year, focusing on intensifying customer centricity, accelerating digitalisation and technological modernisation, strengthening Maybank’s business presence and position beyond Malaysia, driving its leadership position in the sustainability agenda and becoming a global leader in Islamic banking.

Khairussaleh revealed that the group is interested in blockchain and has had a few developments in the segment.

“As an industry, we have started talking, for example, using blockchain for trade finance, but that is still in discussion. But blockchain is about digital assets and it needs a community of banks to also look at blockchain capability as well if you want to make it successful,“ he explained.

Khairussaleh, who was recently appointed as president commissioner of PT Bank Maybank Indonesia Tbk (Maybank Indonesia), said it wants Indonesia to do more for the group by its plans to rejuvenate its small and medium enterprise segment and syariah offerings in the country.

“Given Indonesia is a huge country with a huge potential, and the banking sector is still underpenetrated, that we think we can do a few things to improve performance,“ he said.

Maybank has revised its FY25 return on equity (ROE) target to 11-12% from 13-15% due to change in environment as a consequence of the Covid-19 pandemic as well as global geopolitical uncertainties, Khairussaleh said.

“So, that’s why we believe that in the next few years, an ROE of 11-12% will be more realistic, given the investment that we also make. Despite the headwind challenges, we are here to still invest for the future, to differentiate ourselves, and to build capabilities as a true regional bank. It is the right time to do it and not wait when things are better,” he added.