Malaysia Retail Banking Competitor Benchmarking – Analyzing Top Players Market Performance and Share, Retention Risk, Financial Performance, Customer Relationships, Customer Satisfaction and Actionable Steps
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All Malaysian banks covered in this report increased their total divisional assets (TDA) from 2020 to 2021. This indicates that they have managed to cope with the impact of the COVID-19 pandemic. Public Bank and Maybank increased their share of the Malaysian retail banking market in multiple segments from 2011 to 2021, entrenching their positions.
The Malaysia retail banking competitor benchmarking report analyzes financial performance, depth of customer relationships, and customer satisfaction. It ranks Malaysia’s top banks across a range of criteria, from digital experience to product clarity and money management tools.
Malaysia Retail Banking Market – Customer Relationships According to NPS Results
The top banks with the highest NPS are AmBank, Bank Islam, Maybank, BSN, Hong Leong Bank, Public Bank, CIMB, and RHB Bank. AmBank has the highest NPS. Average customer tenure is long for many Malaysian banks. Customers are generally loyal to their primary provider regardless of Net Promoter Score (NPS).
Malaysia Retail Banking Market Analysis by Customer Relationships According to NPS Results
For more insights into customer relationships in Malaysia retail banking market, download a free report sample
Malaysia Retail Banking Market - Customer Satisfaction Concerning Digital Experience
The biggest driver of NPS in Malaysia is how good a bank is at helping customers use digital banking services. BSN has the highest average score with respect to helping customers better use digital banking. Other banks with good customer satisfaction ratings are CIMB, Maybank, Hong Leong Bank, Public Bank, AmBank, Bank Islam, and RHB Bank.
Malaysia Retail Banking Market Analysis by Customer Satisfaction as Per Digital Experience
For more insights into customer satisfaction in Malaysia retail banking market, download a free report sample
Malaysia Retail Banking Market – Actionable Steps
AmBank: AmBank has the highest NPS of any bank in the market, positioning it well for growth in the future. The bank should improve its cross-selling efforts since just under a quarter of customers have no additional products. Moreover, the bank should also focus on customer satisfaction and additional training and courses for its employees.
Bank Islam: Improvement in cross-selling is necessary to start catalyzing growth for Bank Islam. Omnichannel support and digital problem resolution are two areas that also need to be addressed, while a branding refresh would also be welcomed.
Hong Leong Bank: Hong Leong Bank focuses on attracting emerging affluent and mass affluent customers. However, the bank needs to work on its NPS, as it has more detractors than promoters, which is likely to harm customer acquisition. In addition, Hong Leong Bank performs poorly with respect to digital problem resolution, which is a category customers value highly. The bank needs to focus on digital problems as well to achieve better scores in customer satisfaction.
For more insights on actionable steps needed in Malaysia retail banking sector, download a free report sample
Malaysia Retail Banking Market Report Overview
Leading Banks | AmBank, Bank Islam, Maybank, BSN, Hong Leong Bank, Public Bank, CIMB, and RHB Bank |
Key Highlights
- Public Bank and Maybank were able to increase their market share in all four major markets over 2011-21. RHB Bank and Hong Leong Bank were less successful, seeing their market shares decline in the credit card and personal loan spaces.
- Unlike many other markets where loyalty rewards and competitive prices are the biggest drivers of NPS, Malaysian consumers prioritize the support they receive to help them better use digital banking services.
- AmBank has the highest NPS of any bank. However, this is an area of weakness across banks in Malaysia. Five of the eight banks recorded a negative NPS.
Reasons to Buy
- Identify the factors affecting growth prospects across the deposit, credit card, personal loan, and mortgage markets.
- Track competitor gains and losses in market share.
- Assess the financial performances of competitors.
- Receive detailed analysis of the drivers of customer advocacy.
Bank Simpanan Nasional
Public Bank
Hong Leong Bank
AmBank
Maybank
RHB Bank
CIMB
Table of Contents
Frequently asked questions
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Who are the leading banks in customer relationships in the Malaysia retail banking market in terms of NPS results?
The key banks in customer relationships in the Malaysia retail banking market in terms of NPS results are AmBank, Bank Islam, Maybank, BSN, Hong Leong Bank, Public Bank, CIMB, and RHB Bank.
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Which bank has the highest NPS in the Malaysia retail banking market?
AmBank has the highest NPS in the Malaysia retail banking market.
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What is the biggest driver of NPS in the Malaysia retail banking market?
The biggest driver of NPS in Malaysia is how good a bank is at helping customers use digital banking services.
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Which bank leads in customer satisfaction in the Malaysia retail banking market?
BSN leads in customer satisfaction in the Malaysia retail banking market.
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