Netflix streams into Myanmar

Netflix – the world’s largest internet television network – has come to Myanmar as part of the firm’s expansion into 130 new countries. But slow download speeds and expensive data fees mean Myanmar’s DVD shops are not under threat from online streaming just yet. During a keynote speech at the International Consumer Electronics Show in […]

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, […]

Mizuho Bank Open for Business

Japan-based Mizuho Bank has opened their first branch in Yangon on August 3, marking the bank’s official entrance into the country. The lender is one of the largest financial services company in Japan, with over $1.6 trillion in assets. It was one of nine international banks that received licences in October last year to operate […]

Yoma Bank helps SMEs with loans

Yoma Bank sees disbursement of loans to small and medium enterprises as a crucial part of its service, U Theim Wai, chairman of First Myanmar Investment told Mizzima on December 17. “We have enjoyed a remarkable achievement in disbursing loans to SMEs. It is an important job of Yoma Bank,” he said. Yoma bank is […]

Serge Pun: The Bubble Will Definitely Burst

The Yoma Strategic Holdings conglomerate has cultivated an enormous portfolio of real estate, agriculture, tourism, banking, automotive and retail businesses in Myanmar over the last two decades. As of December this year, the company’s market capitalization was US$692 million, and it ranks in the top five percent of Singapore Exchange-listed companies on the 2014 Governance […]

Japanese banks teams up with Apex

Japan’s Resona Bank has signed an agreement with Myanma Apex Bank providing for closer financial cooperation, as Japanese firms look to extend their investments in Myanmar. The agreement aims to improve banking connections between the two countries, particularly for Japanese investors in Myanmar as well as Myanmar citizens in Japan, according to Apex Bank chair […]

‘We Are Worried That All Our Talented Employees Will Move’

Late last year, the Central Bank of Myanmar announced that they will allow some foreign banks to begin offering limited financial services in 2014. Thirty four international banks have opened representative offices in Myanmar after gaining Central Bank approval. The conditions under which they will be allowed to begin offering banking services remain unclear, however, […]

Burma to Allow Foreign Banks to Begin Some Operations Next Year

Ground clearance and basic infrastructure preparation work has begun on an industrial estate inside the Thilawa Special Economic Zone, said the Japanese Kyodo News agency. A ceremony marking the start was attended by Japan’s Mitsubishi Corporation, Marubeni Corporation and Sumitomo Corporation plus nine Burmese business partners and Naypyidaw government representatives, said Kyodo. Mitsubishi, Marubeni and […]