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 […]

Shinhan Card starts microloan business in Myanmar

South Korea’s Shinhan Card Co. launched microcredit service in Myanmar as part of efforts to explore new revenue sources in overseas markets amid dwindling profitability in the local credit market due to falling commission fees. Shinhan Card said on Tuesday that it began operation of Shinhan Microfinance in Yangon, Myanmar. The Korean credit card operator […]

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 […]