Mizuho to open second office, at Thilawa SEZ

Japanese bank Mizuho will become the first foreign lender to open a second office in Myanmar, after opening its Yangon branch earlier this year. The bank has been granted approval to open a front office in Thilawa special economic zone, a spokesperson confirmed. Mizuho aims to open the office within the year, said a company […]

World’s largest bank ICBC opens its Yangon branch office

ICBC, which is the world’s largest bank, with a market capitalisation of US$240 billion, was one of nine foreign banks to be granted a provisional licence by the Central Bank of Myanmar last October. The nine were given a year to secure the final green light from the Central Bank and open a branch office, […]

UOB upbeat on Myanmar outlook

United Overseas Bank (UOB) sees opportunities for Singapore companies to invest in Myanmar and ride on its rapid growth. The bank, which opened its first branch in Yangon in May, says its clients plan to invest US$300 million (S$404 million) in the country over the next 12 months. UOB expects Myanmar’s manufacturing, hospitality and infrastructure […]

Japan & Singapore big winners in foreign banking licence award

9 foreign banks have been awarded preliminary Foreign Banking License on 1st October 2014. The award of the banking licence also shows the influence that the countries that the banks come from – in financing development and trade in Myanmar with the rest of the world. The big winner is Japan with 3 banking licences. […]