Myanmar’s KBZ Bank picks S’pore as launch pad to region

One of Myanmar’s biggest privately owned banks aims to use Singapore’s prime location as a launch pad to expand its commercial presence in the region. U Nyo Myint, senior managing director of Kanbawza Bank (KBZ Bank), said yesterday: “The bank is one of the most successful banks in Myanmar and we would like to expand […]

KBZ Bank crowned Finance Asia’s ‘Best Bank in Myanmar’

Kanbawza Bank was named “Best Bank in Myanmar” by London-based Finance Asia at the awards ceremony of “The Finance Asia: Country Awards for Achievement 2016” held in Singapore yesterday. Organisers said KBZ Bank won the award because it had the highest amount of deposits in the 2015-2016 fiscal year, provided businesses with highest number of […]

MEB, six private banks to lease K30 billion to SMEs

Myanma Economic Bank, teaming up with six private banks will give K30 billion loans to small and medium enterprises (SMEs), according to Ministry of Industry. The country’s SMEs can acquire loans from the Myanma Oriental Bank, Ayeyawady Bank, from Co-Operative Bank (CB), commonly known as CB Bank, the Myanmar Citizens Bank, the Kanbawza Bank and […]

Myanmar’s Kanbawza Bank opens office in Bangkok

KBZ representative office has been opened at Sathorn Square Office Tower. (Photo courtesy of Kanbawza Bank) Kanbawza Bank (KBZ Bank) has opened a representative office in Bangkok, the first Myanmar bank to establish an international presence. Earlier this year, KBZ Bank officially received a licence from the Bank of Thailand to open the office in […]

Euromoney names KBZ Myanmar’s best bank

KANBAWZA Bank was awarded “The Best Bank in Myanmar-2016” by London-based economics magazine Euromoney, last Thursday at Island Shangri-Lan Hotel in Hong Kong, winning the award for the third year in a row. KBZ Bank was crowned Myanmar’s best bank after it managed to get the highest amount of deposit and make the highest profits […]

Kanbawza Bank Will Be The First Myanmar Bank to Open International Representative Office in Thailand

KANBAWZA Bank (KBZ Bank) Limited, part of the KBZ Group of companies, has officially received a licence to open a representative office in Thailand. This licence from the Bank of Thailand makes KBZ Bank the first Myanmar bank to establish a presence in Thailand, or anywhere outside Myanmar. It is the first step towards a […]

Central Bank manoeuvres rise in kyat value

The value of the Myanmar kyat has risen due to the efforts of the Central Bank of Myanmar, according to Xinhua News Agency. The kyat value rose gradually starting from the beginning of this year following a year of declining value compared to the US dollar, according to local money changers. On 2 April, US$1 […]

KBZ launches Yangon stock exchange settlement system

Kanbawza Bank signed yesterday with the Yangon Stock Exchange (YSX) to run settlement and clearing operations for Myanmar’s first modern bourse. Last April the bank was chosen from among six local private banks who applied for the role to the Securities and Exchange Commission (SECM) of Myanmar. It will be responsible for delivering payments for […]

Surging kyat closes foreign exchange desks

  Local banks suspended foreign currency exchange services yesterday as the kyat surged in value against the dollar, with financial industry sources variously pointing the finger at political speculation, market rumours and a lack of clear Central Bank policy. The kyat strengthened to K1248 against the dollar yesterday, according to the Central Bank’s rate, after […]

Forex-starved lenders ask Central Bank for policy shift

Private financial institutions want the use of Nostro accounts — held in a foreign country and denominated in the currency of that country — to become mandatory for banks making import payments on behalf of clients, according to sources at private banks. The Yangon Foreign Exchange Market Committee submitted the policy request to the Central […]