Malayan BankingÆs Maybank recent buying spree suggests it is in a hurry. But, says Surachet Chaipatamanont, CEO of the groupÆs investment banking arm Aseambankers, ôMaybankÆs recent acquisitions come after a long process of analysis and planning around the target markets. They are the result of the groupÆs deliberate strategy to enter markets with high populations and low penetration of banking services.ö
Critics argue that government-owned Maybank may have succumbed to peer pressure to expand abroad so urgently, as close rivals such as Bumiputra-Commerce and Public Bank had already made overseas acquisitions. As a result, perhaps it has paid too much when it went shopping abroad.
In March, Maybank spent $133 million for a 15% stake...
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