KANBAWZA (KBZ) Bank announced yesterday that it got the nod from the Central Bank of Malaysia on Tuesday to open a representative office in Kuala Lumpur.
“We will open the representative office in Kuala Lumpur in Malaysia in the near future. We will announce the place for the representative office and the date for the opening ceremony soon,” said U Nyo Myint, Senior Executive Director of the Kanbawza Groups of Companies.
The bank branch in Kuala Lumpur would become the third overseas representative office for KBZ, following offices in Thailand and Singapore.
KBZ Bank, one of the largest private commercial banks in Myanmar, will open its second overseas representative office in Singapore on 6th October after the Monetary Authority of Singapore issued the firm a license on 15 June, 2016, according to an official of the bank.
KBZ Bank opened its first representative office in Bangkok on 28 April, 2016, after winning permission from the Central Bank of Thailand. KBZ Bank has opened more than 420 branches nationwide in Myanmar employing more than 17,000 staffers and also providing services linking with international banks.
KBZ Bank and its KBZ Brighter Future Myanmar Foundation- BFM has spent more than 109 billion kyats from 2007 to date on philanthropic works.
Source: Global New Light of Myanmar
