Bank of Tokyo Mitsubishi UFJ (BTMU) gears up for real time settlement in Yangon

Bank of Tokyo Mitsubishi UFJ (BTMU) is preparing the systems at its Yangon branch to be “operational-ready” for the Central Bank’s new settlement system. The Japanese lender, through the Japan International Cooperation Agency (JICA), is working with the Central Bank on its soon-to-be launched Real Time Gross Settlement (RTGS) system, said Go Watanabe, CEO of […]

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 […]

Two Japan Banks First Foreign Banks to Open Myanmar Branches

Japan’s two top banks are set to open branches in Myanmar this week, becoming the first foreign banks to set up shop in the country: a place viewed by many as one of the “last frontiers.” Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp. will open branches on Wednesday and Thursday in the center […]

Mitsubishi UFJ Financial Group

The first of three foreign banks to open branches in Myanmar this week – Bank of Tokyo-Mitsubishi UFJ (BTMU) – says there is no turning back for economic reforms and that patience is the key for success. “If we look at the long term, Myanmar has lots of potential. The liberalisation of the country and […]

Foreign banks optimistic about economic integration

Executives of two foreign banks expressed optimism that Myanmar would attract more investment as long as it maintains the speed at which it is integrating with other countries in the region. Go Watanabe, managing executive officer and CEO for Asia and Oceania of Bank of Tokyo-Mitsubishi UFJ, said the Asean Economic Community (AEC) can deepen […]

Heavyweight Bank of Tokyo-Mitsubishi UFJ prepares its Yangon office for opening

The Bank of Tokyo-Mitsubishi UFJ could officially open its branch office as soon as next month, as the firm looks to provide financial services to foreign investors, according to the bank’s chief executive officer for Asia and Oceania, Go Watanabe. “We are excited to open the branch as soon as possible, maybe even next month, […]