Frontier Markets: Myanmar, Explosive GDP Growth

The reason I’m revisiting Myanmar is because recently the State Bank of India (SBIN), together with the Vietnam Bank for Investment and Development, Taiwan’s E SUN Commercial Bank (2884:TT), and South Korea’s Shinhan Bank, were all granted permits to operate in that country. Last year, the first round of permits were granted to ANZ Banking […]

Maybank to help Myanmar firms raise regional capital

Maybank will offer a number of services in Myanmar including project finance and corporate lending, said Pollie Sim, CEO of international business at the Malaysian bank. It will also be willing to help companies raise capital through regional equity or debt markets, she said at the launch of the bank’s Myanmar branch office on October […]

OCBC, UOB banks open branches in Myanmar

YANGON: Singapore banks OCBC and UOB officially opened branches in Myanmar on Thursday (Jul 2), becoming some of the first foreign banks to set up operations in the emerging economy. Singapore’s Deputy Prime Minister Teo Chee Hean, who was present at the banks’ opening ceremonies in Yangon, said the economic partnership between the Republic and […]

For foreign lenders, Myanmar is no zero-sum game

SINGAPORE – A Foreign bank setting up a branch in Yangon must take its first step together with eight other lenders, all eager to tap a country that has been in isolation for more than 50 years. But international lenders noted that co-operation, not direct competition, will serve the greater good for now. “Competition among […]

Banks on charm offensive in Myanmar

FOREIGN banks venturing into Myanmar are expected to flex their muscles by investing in, and advising, the fledgling local financial market – and that includes efforts to lift standards of local bank staff. The charm offensive in recent years cannot be underestimated. Besides proving long-term commitment to this frontier market, international lenders need the blessings […]

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 […]

UOB first foreign bank to offer Myanmar onshore loan

SINGAPORE: The Republic’s United Overseas Bank (UOB) has become the first foreign bank to announce an onshore loan in Myanmar, after nine foreign banks were granted provisional operating licences in October last year. In a statement on Tuesday (May 6), UOB said it is offering onshore financing to Rangoon Excelsior – a French-Myanmar joint venture. […]

OCBC branch in Yangon starts operations

OCBC Bank has taken a key step forward into the large untapped Myanmar market with its Yangon branch commencing operations yesterday. It is one of the first three foreign banks to have won final regulatory approval from the Central Bank of Myanmar, along with Sumitomo Mitsui Banking Corp and Bank of Tokyo-Mitsubishi. Sumitomo Mitsui opened […]

OCBC, UOB’s Yangon branches to benefit S’pore firms in Myanmar

SINGAPORE — Singapore companies operating in or looking for opportunities in Myanmar will have an easier time navigating the emerging market with the setting up of OCBC and UOB bank branches in Yangon. The banks’ presence will help Singapore companies make transactions more efficiently in Myanmar, as well as facilitate more foreign direct investments (FDI) […]

UOB to finance new power plant in Myanmar

SINGAPORE: United Overseas Bank (UOB) announced on Monday (Apr 20) a financing agreement with Singapore-based company Royal GK – a company commissioned to help meet Myanmar’s rising demand for energy. Royal GK, an engineering procurement and construction company, was contracted by the Myanmar Central Power Co (MCPC) to procure gas engines for the construction of […]