Maybank Singapore to give one-off payouts to more than 800 junior staff
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Maybank Singapore employs more than 2,000 staff in the Republic.
PHOTO: REUTERS
SINGAPORE - More than 800 eligible junior employees at Maybank Singapore will receive a one-off ex gratia payment, in recognition of their contributions and to help cushion cost-of-living pressures.
The payment includes $1,250 for 200 unionised executives, along with additional quarter-month bonuses for more than 600 junior employees, a Maybank Singapore spokesperson told The Business Times on March 4.
BT understands that Maybank Singapore employs more than 2,000 staff in the Republic.
“Our employees have demonstrated unwavering dedication amid a challenging operating environment,” said Mr Alvin Lee, country chief executive and CEO of Maybank Singapore.
“This ex gratia payment underscores our appreciation and our commitment to uplifting colleagues who feel the effects of day-to-day expenses more acutely.”
Mr Wong Keng Fye, head of human capital at Maybank Singapore, noted that the bank has increased its targeted assistance over the years, with the 2026 individual quantum being more than double the $500 given in earlier years.
“Even amid very different economic cycles, our approach has been to ensure that support remains meaningful, sustained and responsive to real cost pressures faced by our people,” he added.
Other banks in Singapore, including DBS Bank and UOB, have announced similar payouts. DBS said on Feb 9 that it would give a one-time $1,000 bonus to more than 23,000 junior staff globally, while UOB on Feb 24 announced a half-month base salary payout to more than 6,000 junior staff.
The announcement by Maybank – Malaysia’s largest lender – comes days after it reported a 5.7 per cent rise in fourth-quarter net profit to RM2.7 billion (S$873 million) for the three months ended Dec 31, 2025.
For the full year, Maybank posted a net profit of RM10.5 billion, up 4.2 per cent from a year earlier.
In Singapore, Maybank’s profit before tax rose 1.3 per cent to $711.3 million for the year, supported by higher net fund-based income that offset slower non-interest income, higher overheads and lower impairment write-backs. THE BUSINESS TIMES
