KUALA LUMPUR: Malayan Banking Berhad (Maybank), Malaysia's largest bank by assets, said on Thursday it is not the subject of any investigation in Indonesia, seeking to calm market concerns after a Bloomberg report that some of its bankers were being questioned by Indonesian authorities.
In a filing to Bursa Malaysia, Maybank said it had been informed that certain employees were requested to assist Indonesian authorities in connection with a probe involving the Salim Group, one of Indonesia's largest conglomerates. The bank emphasised that it is not under investigation and that its operations in Indonesia continue normally.
"Maybank Indonesia is not the subject of any investigation by the Indonesian authorities," the bank said in its statement. "The bank is cooperating fully with the authorities and will continue to do so."
The clarification came after Bloomberg reported on Wednesday, citing people familiar with the matter, that Indonesian financial regulators were questioning Maybank staff as part of a broader inquiry into the Salim Group's financial dealings. The Salim Group, controlled by the Widjaja family, has interests spanning banking, telecommunications, property, and agribusiness across Southeast Asia.
Maybank has operated in Indonesia since 1991 through its subsidiary PT Bank Maybank Indonesia Tbk, which serves retail, corporate, and Islamic banking customers across the archipelago. The bank's Indonesian operations contribute significantly to group earnings, making the market sensitive to any regulatory developments.
Analysts said the swift clarification helped contain potential reputational risk. "Maybank's proactive disclosure demonstrates strong governance and transparency," said a Kuala Lumpur-based banking analyst who declined to be named. "The distinction between staff assisting an investigation versus the institution being investigated is crucial for market confidence."
The episode highlights the increasingly interconnected nature of ASEAN's banking sector, where Malaysian, Indonesian, Singaporean, and Thai banks maintain extensive cross-border operations. Regulatory cooperation among ASEAN central banks and financial authorities has deepened in recent years under the ASEAN Banking Integration Framework, which aims to facilitate greater financial integration while maintaining supervisory standards.
Bank Negara Malaysia and Indonesia's Financial Services Authority (OJK) have established memoranda of understanding on supervisory cooperation and information sharing. Such frameworks are designed to ensure that cross-border banking activities are conducted prudently and that any regulatory concerns are addressed through established channels.
Maybank's shares traded steady on Thursday following the announcement, with analysts noting that the market had largely priced in the news. The bank's clarification underscores the importance of clear communication in maintaining investor confidence across ASEAN's integrated financial markets.
Sources: Channel NewsAsia, Bloomberg, Maybank Bursa Malaysia filing
