KUALA LUMPUR — Malaysia’s first homegrown bank, Maybank, has officially moved into the world’s second-tallest and the country’s tallest building, Merdeka 118.

Maybank will occupy 33 floors of the 118-storey skyscraper, which will house almost 6,000 employees.

The bank’s relocation from Menara Maybank at Jalan Tun Perak to Merdeka 118 drew public attention after its signage went up on the skyscraper recently.

However, Maybank has already been moving into its new home in stages since the start of the year.

Also relocating to Menara Merdeka 118 are several Maybank subsidiaries currently based in Dataran Maybank, including Maybank Islamic, Maybank Investment Bank and Maybank Asset Management.

Meanwhile, the Maybank Numismatic Museum is being shifted to Maybank’s first-ever branch at Jalan Tun HS Lee.

Why the move?

Maybank had been searching for a new head office since 2019 and considered several options, including refurbishing the 37-year-old Menara Maybank.

However, the tenancy option at Merdeka 118 grants Maybank naming and signage rights over the world’s second-tallest building — strengthening its visibility as Malaysia’s largest bank by asset size.

The relocation also allows Maybank to save on the maintenance costs of Menara Maybank’s upkeep, temporary relocation expenses during refurbishment, and potential service disruptions.