Local banks fret foreign rivals

Domestic banks fear that international lenders opening branch offices in Myanmar will pursue an aggressive strategy and poach the best local clients, but commentators believe this is unlikely to happen, for now. Between April and September, nine global banks will open branch offices in Yangon, becoming the first foreign institutions to undertake active commercial operations […]

Strong pipeline’ follows first onshore loan by UOB

UOB has a “strong pipeline” of projects set to follow its loan to a hotel development this week. The deal marked the first onshore loan by a foreign bank in Myanmar, according to company representatives. Singapore-based UOB received permission to open its Yangon branch for May 4, and announced the loan to Rangoon Excelsior in […]