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Financial Management Assignment (May-bank and CIMB bank)

   

Added on  2021-01-03

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Finance
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FINANCIALMANAGEMENT
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Introduction of May-Bank...........................................................................................................1Introduction of CIMB bank.........................................................................................................2Calculation of future value of annuity of May bank...................................................................3Calculation of future value of annuity of CIMB bank................................................................4Comparison of the total savings between May bank and CIMB bank........................................5Importance of time value of money concept in financial decision making to individuals..........7Summary.....................................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES ...............................................................................................................................9
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INTRODUCTIONFinancial management is critical state of any organisation that conduct all financialactivities. It is the process of preparation, executing, controlling and observation of financialresources with a view to accomplish organizational objectives and goals. It is a perfect practicefor controlling the financial activities of an organization such as accounting, acquisition of funds,usage of funds, payments, risk classification and every other thing related to money. In thisproject selected bank of Malaysia are May-bank and CIMB bank. May-bank is the largest bankin country in terms of market capitalization and total assets. It is also one of the largest banks insouth-east Asia. CIMB bank is the consumer banking unit of the CIMB group. The universalbank provides banking services including wholesale and consumer banking, treasury andstrategic investment (Attig, and Cleary, 2014). This report covers introduction of both banks and calculate future value of annuity.Comparison of the total savings between the two commercial banks, importance of time value ofmoney concept in financial decision making to individuals and concluded of both banks. MAIN BODYIntroduction of May-BankMay-bank is the largest bank in the country of Malaysia in terms of market estimationand total assets. It is also one of the largest banks in south east Asia with total assets exceedingRM 165 billion and having a net profit of RM 1.75 billion in 2015. It gives a wider range ofbanking products and services includes offshore banking, investment banking, leasing, Islamicbanking and hire purchase, factoring, insurance, stock broking, venture capital, nomineesservice, asset management and internet banking (Barr, and McClellan, 2018). Through its all-inclusive network of 2400 offices, duration 10 ASEAN countries and global financial services.In 2015, May Bank was ranked 95th in the banker's top 1000 world banks and is ranked 362 inthe Forbes global 2000 major companies in June 2016. May bank Islamic, the bank's Islamicbanking arm, is the top Islamic bank in the Asia Ocean location. It is also the world's fifth sizableIslamic bank by assets. May bank was based in 1960, with headquarters in Kuala Lumpur. Maybank's network spans across all 10 ASEAN nations as well as key Asian countries and globalfinancial centres with a network of 2400 offices world wide with more than 45000 employees.1
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Revenue of bank in 2017 is RM 45.58 billion, Net income is RM 7.52 billion and total assets RM765.3 billion.Vision of may bank To be the major financial services provider in Indonesia, driven by passionately committed andinnovative people and serving communities. Mission of May bankMay-bank mission is to humanise financial services across Asia for providing - Supply the people with favourable entree to financingSomeone fair terms and valuationAdvising customers based and on their needsBeing at the heart of gatheringIntroduction of CIMB bankCIMB bank is the consumer banking unit of the CIMB group. The universal bankprovides banking services including comprising investment banking, consumer, corporatebanking and wholesale banking, strategic investments, and treasury with its core markets beingMalaysian, Thailand and Indonesia and markets through wide retail branch network of 1080branches across the region. Aside from Malaysia, the bank's core markets include Indonesia,Singapore and Thailand. CIMB bank established in 2006, it based in Kuala Lumpur, servingmore than 13.5 million customers across the country. CIMB Islamic operates in parallel withthese businesses, in line with the group's dual banking model (Brusca, Gómez‐villegas, andMontesinos, 2016). Revenue of CIMB bank is RM 11.49 billion in 2017, Net income RM 3.64billion and Total assets is RM 308.45 billion. Consumer Banking – CIMB group has full mature consumer banking services across its mainoperative markets in Cambodia, Singapore, Malaysia and Indonesia which consist consumerbanking are consumers sales and arrangement which oversees the sales network consider mobilesales teams and branches. VisionTo be the leading ASEAN company.MissionTo provide universal banking services in Indonesia as a high performing, institutionalized andintegrated company located in ASEAN and key markets on the far side and to champion and the2
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