Japanese retailer Aeon to open digital bank in Malaysia

Operation to offer greater financial access to small businesses

20240306N Aeon Bank CEO

Raja Teh Maimunah, CEO of Aeon Bank (Malaysia), has over 30 years of experience in the financial industry. (Photo by Fumika Sato) 

FUMIKA SATO, Nikkei staff writer

KUALA LUMPUR -- Japanese retail group Aeon plans to soon launch a digital banking business in Malaysia with the goal of targeting lesser-served segments of the country's financial economy.

Malaysia's central bank awarded financial arm Aeon Bank a digital banking license in 2022, and the lender won authorization in January to begin operations.

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