YANGON — Myanmar’s Yoma Bank, a mainstay lender in the Southeast Asian country, is setting the pace in attracting foreign investment after authorities lifted a ban on foreign financial institutions holding shares in local banks. In April, the bank announced that it will receive about 131 billion kyat ($94 million) from Greenwood Capital, an affiliate […]
Myanmar banks look to consolidation through better governance
September 17, 2019 by
Consolidation can be expected in Myanmar’s overcrowded banking sector, aided by improved corporate governance and central bank directives as well as a cleaning up of loan books, an investment conference heard this week. Speaking at the Myanmar Global Investment Forum 2019 panel discussion “Changes in the Banking and Financing Sectors” in Nay Pyi Taw this […]
DAWN Microfinance gears up for higher borrower demand
February 4, 2019 by
Early Dawn Microfinance Company Ltd (DAWN) is expecting lending in Myanmar to pick up on the back of the launch of a credit bureau in the country later this year, and as the banking sector opens up. “Myanmar is already in the process of opening up the banking sector and we see opportunities to serve […]
Business confidence in Myanmar sinks as scepticism mounts
December 18, 2018 by
More European businesses say they have lost confidence in Myanmar due to concerns about the National League for Democracy-led government’s management of the economy compared to the last two years, a new survey shows. According to the latest survey from the European Chamber of Commerce in Myanmar (EuroCham) published yesterday, a majority of firms (81 […]
Five sectors driving Myanmar’s economic growth in 2018-19
September 24, 2018 by
Myanmar’s economy has taken a beating in recent quarters, with a rising number of companies reporting tougher business conditions and a slowdown in market demand. One of the main reasons is the rising foreign exchange rate. Despite a slew of measures taken by the Central Bank, which included pumping millions of dollars from its reserves […]
Next finance minister expected to rescue confidence, speed up bank reforms
June 5, 2018 by
The government has to find someone who can pick up the baton swiftly and restore confidence to an increasingly frustrated business community since U Kyaw Win has resigned as planning and finance minister. With economic reforms slowing and plummeting of investor confidence, the next office-holder needs to communicate the reform blueprint to the private sector, […]
CB Bank successfully adapting to meet the needs of a new generation
May 8, 2018 by
Economic liberalisation came relatively late to Myanmar, but the country has been working hard to make up for its slow start. Following a military coup in 1962, the country was governed by an oppressive dictatorship and subsequently experienced the ignominy of being rated one of the least developed and most corrupt nations in the world. […]
Strengthening Myanmar’s banking sector is key to economic growth
August 31, 2017 by
Central to Myanmar’s economic development is the reform of its finance sector and specifically its banking sector. Banks play a fundamental role in the transformation of market economies. Recently the government has enacted a series of laws intended to reform and strengthen its banking institutions to restore investors’ confidence and to make capital more accessible. […]
