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Tussle over Myanmar bank reform puts spotlight on debt pile

NAYPYITAW (Reuters) – Myanmar’s central bank has backed off from a demand that the country’s private banks clear most of their loan books by January, averting a cliff-edge scenario that some bankers warned could have destabilized the financial system. Myanmar’s central bank deputy governor, Soe Thein, told Reuters that three years – instead of the […]

MADB suffers loses of over K700 million in Tanintharyi Region

  Myanmar Agricultural Development Bank (MADB) for Tanintharyi Region has made public losses incurred during the previous 2015-16 fiscal year in the form of K737.26 million in non-performing loans. “We’ve never experienced such losses in the last 62 years. The last fiscal year was the first time we’ve suffered a loss. The main factor behind […]

Visa focus on Myanmar as Thailand slow down

Visa International (Thailand) estimates single-digit percentage growth in spending through its cards here this year compared with double-digit growth over the past few years, said Somboon Krobteeranon, country manager for Thailand and Myanmar. Visa card spending in other Asean countries in 2014 is expected to expand at a double-digit pace, he said. Southeast Asia’s second-largest […]