More than 800 junior employees at Maybank Singapore will receive a one-off ex gratia payment. The bank said the payout is meant to recognise their contributions and help ease cost-of-living pressures.
According to a Maybank Singapore spokesperson who spoke to The Business Times on Wednesday, March 4, the payment includes S$1,250 for 200 unionised executives. Additionally, more than 600 junior employees will receive extra bonuses equivalent to one-quarter of their monthly salary.
Maybank Singapore currently employs more than 2,000 staff in the Republic.
Alvin Lee, Country Chief Executive Officer and Chief Executive Officer of Maybank Singapore, acknowledged the efforts of employees during a challenging period. He said, “Our employees have demonstrated unwavering dedication amid a challenging operating environment.”
He added, “This ex gratia payment underscores our appreciation and our commitment to uplifting colleagues who feel the effects of day-to-day expenses more acutely.”
Wong Keng Fye, head of human capital at Maybank Singapore, shared that the bank has been increasing its targeted support over the years. He noted that this year’s individual payout is more than double the S$500 that was 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 said.
Other banks in Singapore have also announced similar support measures. DBS said on February 9 that it would provide a one-time S$1,000 bonus to more than 23,000 junior employees globally. UOB announced on February 24 that it would give a half-month base salary payout to more than 6,000 junior staff.
The announcement from Maybank, Malaysia’s largest lender, came shortly after it reported its financial results. The bank posted a 5.7 per cent increase in fourth-quarter net profit to RM2.7 billion for the three months ended December 31, 2025. For the full year, net profit rose 4.2 per cent to RM10.5 billion.
In Singapore, Maybank’s profit before tax increased by 1.3 per cent to S$711.3 million for the year. The growth was supported by higher net fund-based income, which helped offset slower non-interest income, higher overhead costs and lower impairment write-backs.
