Southeast Asia has seen strong economic growth over the past few decades, and Malaysia remains one of the region’s most attractive destinations for professionals, expats and businesses. One of the first practical decisions anyone makes here is choosing a bank — and with so many strong local and foreign institutions, the choice matters more than people assume.
- The 10 Largest Banks in Malaysia (2026)
- 1. Maybank
- 2. CIMB Bank
- 3. Public Bank
- 4. RHB Bank
- 5. Hong Leong Bank
- 6. AmBank
- 7. United Overseas Bank (UOB Malaysia)
- 8. Bank Rakyat
- 9. HSBC Bank Malaysia
- 10. OCBC Bank Malaysia
- How to Choose the Right Bank in Malaysia
- The 2026 Context: Rates, Regulation and Digital Banks
- Other Top Banks in Malaysia
- Conclusion: Choosing the Right Bank for Your Needs
- Frequently Asked Questions
Before settling on a bank, it pays to weigh a few critical factors:
- Banking fees (transaction, maintenance, foreign exchange and ATM fees)
- Interest/profit rates on savings and fixed deposits
- Accessibility — branch network, ATMs and a strong mobile app
- Size, stability and reputation
- Regional and international reach
- Deposit protection (all licensed banks below are PIDM members)
This guide ranks the 10 biggest banks in Malaysia by total assets, using the latest published annual-report figures (financial year 2024, with 2025 updates where available). Rankings are based on size and stability — not a personal preference — so use them alongside your own needs (fees, rates, app quality and branch access) to decide what fits you best.
Verified June 2026. Asset and profit figures are taken from each bank’s most recent audited annual report; banks update these annually, so always confirm the latest numbers with the bank.
The 10 Largest Banks in Malaysia (2026)
Here is the quick ranking by total assets, followed by a detailed look at each bank. The big three — Maybank, CIMB and Public Bank — together hold the lion’s share of the sector’s assets.
| Rank | Bank | Total assets (latest FY) | Type | Best known for |
|---|---|---|---|---|
| 1 | Maybank | ~RM1.08 trillion | Local | Largest bank; widest network |
| 2 | CIMB Bank | ~RM755 billion | Local | ASEAN reach; digital banking |
| 3 | Public Bank | ~RM543 billion | Local | Asset quality; retail trust |
| 4 | RHB Bank | ~RM350 billion | Local | SME & investment banking |
| 5 | Hong Leong Bank | ~RM298 billion | Local | Digital-forward retail bank |
| 6 | AmBank | ~RM200 billion | Local | Cards & SME banking |
| 7 | UOB Malaysia | ~RM160 billion | Foreign (SG) | Largest foreign bank; cards |
| 8 | Bank Rakyat | ~RM120 billion | Islamic co-op | Personal financing; Islamic |
| 9 | HSBC Malaysia | ~RM100 billion | Foreign (UK) | Global & Islamic banking |
| 10 | OCBC Malaysia | ~RM100 billion | Foreign (SG) | Wealth & Islamic services |
Figures are group/entity total assets from the most recent annual reports (mainly FY2024). Foreign-bank Malaysian-subsidiary assets are approximate. Rankings are not in strict order of “best” — only size.
1. Maybank
Maybank (Malayan Banking Berhad) is headquartered in Kuala Lumpur and is comfortably the largest bank in Malaysia — and one of the largest in Southeast Asia. In FY2024 its total assets grew to RM1,075.3 billion (about RM1.08 trillion), with a record net profit of RM10.09 billion on revenue of RM68.94 billion.
- ~RM1.08 trillion in total assets (FY2024)
- RM10.09 billion net profit (FY2024, +7.9% year-on-year)
- ~350 branches in Malaysia; 2,600+ across 18 countries
- ~42,000 employees and one of the country’s largest ATM networks
Maybank offers the full spectrum — savings accounts, mortgages, vehicle and personal loans, insurance, wealth management, debit and credit cards, and the widely used MAE/Maybank2u app. Its sheer scale and the breadth of its network make it the default “do everything in one place” bank for many Malaysians.
Read also: The Best Debit Cards in Malaysia
2. CIMB Bank
CIMB Bank is Malaysia’s second-largest bank and one of ASEAN’s leading universal banks, with operations across the region’s key markets. As at 31 December 2024 its total assets stood at RM755.1 billion. CIMB posted a record FY2024 net profit of RM7.73 billion, and in early 2026 reported FY2025 net profit of RM7.9 billion with return on equity of 11.3%.
- ~RM755 billion in total assets (FY2024)
- RM7.73 billion net profit (FY2024); RM7.9 billion (FY2025)
- Total Islamic assets of ~RM224 billion
- Branches across Malaysia, Indonesia, Singapore, Thailand and more
CIMB serves individuals, businesses and investors through consumer, commercial and investment banking and asset management. Its OCTO app and strong ASEAN footprint make it a popular pick for anyone who banks or travels regionally.
3. Public Bank
Public Bank Berhad, headquartered in Kuala Lumpur, is Malaysia’s third-largest bank and is consistently rated for having the best asset quality (lowest non-performing loan ratio) among local banks. Total assets reached RM542.86 billion in 2024, up from RM510.6 billion in 2023, with net profit of around RM6.6–7.1 billion.
- ~RM543 billion in total assets (2024)
- Sector-leading low non-performing loan ratio
- ~260 branches and a large self-service terminal network
- Strong reputation for stability and conservative lending
Public Bank offers brokerage, investment and corporate banking, online and mobile banking, savings accounts and more. Its long track record of stability makes it a favourite for risk-averse savers.
Read also: Best Public Bank Credit Cards in Malaysia
4. RHB Bank
RHB Bank is Malaysia’s fourth-largest bank, with total assets of around RM350 billion in 2024 and a growing regional presence across ASEAN. In late 2025 RHB delivered a record quarterly net profit of RM904 million, underlining its steady momentum.
- ~RM350 billion in total assets (2024)
- Record quarterly net profit of RM904 million (Q3 2025)
- Strong in SME, treasury and investment banking
- Backs Malaysia’s Boost Bank digital-banking venture
RHB offers retail, wholesale and international banking, investment services, private equity and asset management. It is also a partner in one of Malaysia’s new licensed digital banks, signalling a clear push toward digital-first banking.
5. Hong Leong Bank
Hong Leong Bank is the fifth-largest banking group in Malaysia and one of its most digitally progressive. With more than a century of history, it reported total assets of RM297.8 billion for FY2024 (June year-end).
- ~RM298 billion in total assets (FY2024)
- ~250–300 branches plus a strong self-service and app network
- Regional presence including a strategic stake in Bank of Chengdu (China)
- Well-regarded HLB Connect digital banking platform
Hong Leong offers retail, corporate and investment banking, wealth and private banking, mortgages and credit cards. Its early investment in digital channels makes it a strong choice for tech-savvy customers.
6. AmBank
AmBank (AmBank Group) is one of Malaysia’s larger home-grown banking groups, with total assets in the region of RM200 billion. Founded over 50 years ago, it has built a solid niche in cards, SME and retail banking.
- ~RM200 billion in total assets
- ~170 retail branches and a nationwide ATM network
- ~9,000+ employees
- Strong cashback and SME-banking propositions
AmBank offers investment, commercial and personal banking, general and life insurance, brokerage, asset management and REITs. Its AmOnline app and competitive cashback cards keep it popular with everyday spenders.
7. United Overseas Bank (UOB Malaysia)
UOB is Malaysia’s largest foreign bank. Originally founded in Singapore and now operating locally as UOB Malaysia (after absorbing Lee Wah Bank and, more recently, Citi’s Malaysian consumer business), it manages roughly RM160 billion in local assets.
- ~RM160 billion in Malaysian assets (largest foreign bank)
- Expanded retail base after acquiring Citi’s Malaysia consumer arm
- Strong credit-card, wealth and SME franchises
- Award-winning UOB TMRW mobile app
UOB offers investment banking, business and personal loans, credit cards, treasury and trade financing. It is a strong pick for premium cards and regional (Singapore–Malaysia) banking.
8. Bank Rakyat
Bank Rakyat is Malaysia’s largest Islamic cooperative bank, with total assets of roughly RM120 billion. It is best known for personal financing — especially for civil servants via salary deduction — and full Shariah-compliant banking.
- ~RM120 billion in total assets (largest Islamic co-op bank)
- ~150 branches and a wide ATM/cash-machine network
- Strong civil-servant personal-financing franchise
- Runs the Ar-Rahnu Xchange Islamic pawn-broking service
Beyond everyday banking and investment services, Bank Rakyat is a go-to for competitively priced Islamic personal financing. See our guide to the best personal loans in Malaysia for how its rates compare.
9. HSBC Bank Malaysia
HSBC is one of Malaysia’s leading foreign banks and the country’s largest foreign Islamic bank (via HSBC Amanah), with local assets of around RM100 billion. It is the natural choice for customers who need global connectivity.
- ~RM100 billion in Malaysian assets
- Largest foreign Islamic bank in Malaysia (HSBC Amanah)
- ~65–70 branches plus strong digital and global services
- Seamless international transfers and multi-currency accounts
HSBC offers commercial and retail banking, mortgages, credit cards, investment and FX services, and wealth management. It is especially useful for expats, frequent travellers and anyone moving money across borders.
10. OCBC Bank Malaysia
OCBC Bank (Malaysia) is another major Singapore-headquartered foreign bank, with local assets of around RM100 billion. It is known for strong customer service, wealth management and Islamic banking through OCBC Al-Amin.
- ~RM100 billion in Malaysian assets
- Strong wealth-management and bancassurance offering
- Full Islamic banking via OCBC Al-Amin
- Competitive digital savings products (e.g. OCBC 360)
OCBC offers commercial, retail and transaction banking, Islamic financial services and treasury. It rounds out the top 10 as a service-focused foreign bank with solid digital savings rates.
Read also: Best Savings Accounts in Malaysia
How to Choose the Right Bank in Malaysia
Bank size signals stability, but the “best” bank for you depends on how you actually use your money. Here is a simple framework:
- Match the bank to your main goal. Want the highest savings rate? Compare digital and foreign banks. Need the widest branch/ATM access? A big local bank (Maybank, CIMB, Public Bank) wins. Travel a lot? HSBC or UOB. Prefer Shariah-compliant banking? Bank Rakyat, Bank Islam or an Islamic “-i” arm.
- Look at total cost, not just rates. Account maintenance, ATM/MEPS fees, overseas withdrawal and FX fees add up. A “free” account with high foreign-transaction fees can cost more than a paid one if you travel.
- Test the app before you commit. In 2026, your banking app matters more than the branch. Check reviews for reliability, DuitNow QR support, instant transfers and bill payments.
- Confirm deposit protection. Every licensed commercial bank here is a PIDM member, so eligible deposits are protected up to RM250,000 per depositor per bank. Spreading large savings across two banks doubles that coverage.
- Consider a two-bank setup. Many Malaysians keep a big local bank for everyday access and salary, plus a high-interest digital or foreign bank for savings. It is a low-effort way to get the best of both.
The 2026 Context: Rates, Regulation and Digital Banks
A few things shape banking in Malaysia right now. Bank Negara Malaysia (BNM) cut the Overnight Policy Rate (OPR) to 2.75% in July 2025 and held it through the May 2026 meeting, which keeps deposit and loan rates relatively low — one reason to chase promotional savings and fixed-deposit rates rather than standard board rates.
The bigger structural shift is the arrival of licensed digital banks. BNM awarded five digital-banking licences, and several are now live: GXBank (Grab–Singtel, the first to launch), Boost Bank (Boost–RHB), AEON Bank (Malaysia’s first Islamic digital bank), Ryt Bank (YTL–Sea), and the upcoming KAF Digital Bank. These app-only banks compete hard on savings rates and zero/low fees, and are well worth considering for a high-interest savings pot — they are also PIDM-protected. See our best savings accounts and best fixed deposit rates guides for the current numbers.
Other Top Banks in Malaysia
Plenty of strong banks sit just outside the top 10 and are well worth considering — especially if you want to spread deposits across multiple institutions for the full PIDM coverage and more product choice.
These include Affin Bank (which now rivals the smaller top-10 foreign banks by asset size), Bank Islam and Bank Muamalat (full-fledged Islamic banks), Standard Chartered Malaysia, MBSB Bank, Bank Simpanan Nasional (BSN), Alliance Bank, plus the new digital banks (GXBank, Boost Bank, AEON Bank and Ryt Bank).
Conclusion: Choosing the Right Bank for Your Needs
There is no single “best” bank for everyone. If you value scale, reach and a one-stop relationship, the big local banks — Maybank, CIMB and Public Bank — are hard to beat. If you want the highest savings returns or the slickest app, a digital or foreign bank may serve you better. And if global access or Islamic banking is the priority, HSBC, UOB, Bank Rakyat and Bank Islam stand out.
Use the rankings above for stability, but let your own priorities — fees, rates, app quality, branch access and deposit protection — make the final call. For many people, the smartest move in 2026 is simply to hold two accounts: a major local bank for daily life and a high-interest digital bank for savings.
Read more: Malaysia Best Fixed Deposit Rates
Frequently Asked Questions
Disclaimer: KayaToday aims to provide accurate, well-researched information, but banking products, fees and rates change frequently and figures here are drawn from publicly available annual reports and reputable sources. Nothing in this article is financial advice. Always verify the latest details directly with the bank before opening an account or making a financial decision. Figures verified June 2026.
