AYA Bank Offers 15-Year Mortgages for High-End Condo Projects

Property developer Shwe Taung Real Estate has signed an agreement with AYA Bank to provide mortgag­es for two high-end condo projects in Yangon. Under the deal, buyers will be able to get 15-year mortgages for apartments at the Hilltop Vista Condo­minium and Crystal Resi­dences projects in Yangon. It is the longest period available for a […]

Banks Push Credit Cards But Customers Question Convenience

​​ Credit cards are increasingly common in Myanmar, with most of the bigger lenders offering the product. But people in the banking sector say it will take around five years until credit cards are widely used. Pre-paid cards and debit cards starting appearing in Myanmar almost five years ago. But credit cards, which disappeared in […]

Danyingone Market Developer Launches Share Sale

​​ Trading on the Yangon Stock Exchange may be lacklustre, but there is still demand for shares in over-the-counter markets for the right firms. Myanmar Agro Exchange Public Company, a food market and supply chain firm partly owned by local tycoon U Win Aung, is in the process of a share sale and says it […]

Central Bank Plans Level Playing Field for Foreign Payment Firms

​​ CB Bank and KBZ have both partnered with Visa following the Central Bank’s decision to allow foreign payment firms to operate independently in Myanmar. But the Central Bank has clarified that this is a select response to requests from four specific firms, not an official shift in policy. Visa and KBZ issued a joint […]

Toyota sees uphill sales battle in Yangon

Local car dealer Toyota Aye and Sons is hoping a hire purchase scheme will help boost sales of a new Toyota model, which has to compete with a sea of used vehicles in a market complicated by regulations. Toyota has been struggling to sell brand-new cars in Myanmar despite campaigns and promotions. The market is already awash with […]

Plastic chips away at cash’s dominance in Myanmar

YANGON — Credit cards are gaining traction in Myanmar, where cash has long been king, with foreign players such as China UnionPay and Japan’s JCB lured by rising consumer incomes and an increasingly robust financial infrastructure. JCB, in conjunction with Myanmar Payment Union and Ayeyarwady Bank, also known as Aya Bank, debuted a credit card Tuesday […]

AYA BANK launches the First Universal JCB-MPU co-brand cards

AYA Bank launched the first JCB credit and debit card as AYA Universal MPU-JCB Co-Brand cards in Myanmar yesterday, becoming the first in the country to issue Japanese JCB credit and debit cards. The Ayeyarwady Bank, also known as AYA Bank, is issuing the “AYA Universal MPU-JCB Co-Brand Card” combining the Myanmar Payment Union-MPU brand […]

Banks mull taking shares as collateral

Investors in Yangon Stock Exchange-listed firms could soon be able to use their shares to access bank loans. The YSX is in discussions with listed companies and lenders about a system for posting stock as collateral, which shareholders are eager to see put in place. Tycoon Serge Pun – owner of listed firm First Myanmar […]

YSX debates bank disclosure ahead of MCB listing

As Myanmar Citizens Bank prepares to become the first lender listed on Yangon’s stock exchange, bourse officials are still debating just what level of financial disclosure listing banks should have to provide. Any company intending to launch shares on the YSX has to meet disclosure requirements more onerous than any others demanded under domestic Myanmar regulation. In […]

Overseas expansion plans heat up at Myanmar banks

Aya Bank plans to open representative offices overseas, while competitor KBZ Bank says it has applied to move into countries such as Japan and South Korea, in a sign that Myanmar’s banks are growing bolder in exploring overseas markets. If successful, AYA would become the second Myanmar lender to expand beyond national borders – KBZ became […]