All Maybank Employees Earn Above Living Wage Benchmark

30 June 2025

KUALA LUMPUR: Malayan Banking Bhd (Maybank) said all its employees in Malaysia are earning above the Living Wage threshold of RM3,100 a month, as benchmarked against the Employees Provident Fund’s (EPF) Belanjawanku Guide.

The bank said the move reflects its support for the Finance Ministry’s call for government-linked companies (GLCs) to lead by example in promoting fair pay under the GLC Earnings for a Resilient and United People (GEAR-uP) initiative.

President and Group Chief Executive Officer Datuk Khairussaleh Ramli said the commitment is aligned with Maybank's efforts to remain a values-driven organisation that leverages both people and technology to promote fair, inclusive, and sustainable pay practices.

"At Maybank, we see employee welfare and fair, decent pay not only as a moral responsibility but also as a key enabler for business success.

"Ensuring all employees earn a competitive and sustainable wage is essential to building a resilient and future-ready workforce. It reflects our deep commitment to shared prosperity and the vision of the Ekonomi Madani framework," he said in a statement on Monday.

To further support its lower-income employees, Maybank said it has introduced a series of structural and targeted initiatives aimed at easing financial burdens and enhancing financial security.

These initiatives include festive assistance, interest-free loans, and access to a Staff Welfare Fund for urgent needs such as medical emergencies or disaster-related situations.

The bank added that support is also extended to working families through childcare and maternity allowances, as well as education assistance for employees' children, including annual back-to-school support and financial aid for tertiary studies.

“To promote flexibility and personalisation, employees are also offered options to optimise their benefits, such as converting EPF contributions for medical coverage or repurposing dental and optical allocations for digital-related expenses,” the bank said.

Maybank further stated that it provides financial support through competitive employee loans, insurance protection, retirement benefits, and a flexible benefits scheme that allows employees to customise options based on their individual needs and lifestyles.

The bank also emphasised the importance of building a future-ready workforce, saying it offers structured reskilling and upskilling programmes that provide employees with access to digital learning platforms, industry-recognised certifications, and career development pathways.

Maybank reaffirmed its commitment to fostering a safe, inclusive, and supportive work environment, while providing a comprehensive range of benefits designed to promote the overall wellbeing of its workforce.