NH NongHyup sets up Myanmar branch

NH NongHyup Bank said on Oct. 26 it has launched its branch office in Yangon, the largest city of Myanmar to expand its presence in the Southeast Asian country. The establishment of Yangon-based branch came after the lender had obtained final approval from the country’s central bank in late June. It is the second regional […]

Daiwa to offer microloans to low-income earners in Myanmar

TOKYO — Daiwa Securities Group will launch microfinance services in Myanmar through a joint venture, diversifying its portfolio there to tap the growing economy. Microfinancing is a way to lift low-income earners out of poverty by providing tiny loans to those who have no access to formal banking services so they can start their own […]

Myanmar foreign loans rise to US$10.2B in last fiscal year

Myanmar has accumulated US$10.2 billion in debt owed to more than 20 countries and multilateral organisations, the Joint Public Accounts Committee of the Pyidaungsu Hluttaw noted in a report on the Union budget for the 2017-18 fiscal year. The committee said the Ministries of Home Affairs; Agriculture, Livestock and Irrigation; Transport and Communication; Electricity and […]

KB Kookmin Bank interested in expanding Myanmar business

KB Kookmin Bank, one of South Korea’s top four banks, is interested in expanding its presence in Myanmar with more financial products and services, especially in the areas of providing financing for housing and small-and-medium enterprises (SMEs). KB Kookmin’s chief representative in Yangon, Kim Chang-woo, said the bank “is considering expanding its business in Myanmar […]