Traders expect better business on wider trade financing options

Now that the Central Bank of Myanmar (CBM) has allowed a total of seven foreign banks to provide trade financing services in Myanmar, traders are anticipating much better business in the months ahead. Last December, the CBM permitted 13 foreign banks to apply for approval to offer trade financing services in the country. Since then, […]

First South Korean Lender Starts Myanmar Ops

Shinhan Bank, South Korea’s fourth-largest bank by assets, has set up a branch in Myanmar as part of its diversification strategy. The bank said it won final approval to start operations in Yangon from the Central Bank of Myanmar on September 15. This marks the first time for a South Korean lender to set up […]

Foreign banks finish licence legwork

BRIEF: E.SUN Commercial Bank and State Bank of India – the last of the foreign lenders that won approval to open branches in Myanmar earlier this year – have finished the entry process and begin this week fully licensed. The Central Bank announced late last week that E.SUN Commercial Bank and State Bank of India […]

Korean financial firms rush into Myanmar for loan opportunities

South Korean financial companies are rushing into Myanmar as they see fresh investment opportunities in the country that has started to open up after almost 50 years of military rule. In addition to leading lenders Shinhan Bank Co. and Woori Bank Co. and personal loan provider BNK Capital Co., IBK Capital Corp. is expected to […]

Shinhan, BIDV to open Myanmar branches

Three days after winning a licence to operate banking services in Myanmar, Shinhan Bank announced yesterday that it will open a branch in Myanmar next year, seeking to expand its presence in the Southeast Asian country as part of its global strategy to find new revenue sources. South Korea’s most profitable lender said it aims […]

Korean Investment in Burma Likely to Increase

RANGOON — After a delegation from the well-known South Korean Daewoo Group of Companies met with Burma’s outgoing president on Tuesday, there is speculation that the country plans to increase investment in Burma. During the meeting between Thein Sein and Daewoo CEO Young-Sang Kim, the topics of discussion included investment in Burma’s hotels, energy, mining […]

No Thai banks among 2nd round of Myanmar licensees

YANGON – No Thailand banks were among 13 institutions that answered a call from Myanmar’s central bank for expressions of interest in a second round of foreign bank licensing aimed at further liberalising a sector that was previously off-limits to international players. Eight of the banks listed in an official central bank statement on Feb […]