Banking Reports, Ltd.

Transcription

1 Banking Reports, Ltd. Reports-v4024/ Publisher Sample Phone: (US) or or (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST Fridays: 5:30am - 5:30pm EST customerservice@marketresearch.com MarketResearch.com

2 1. Executive summary Myanmar is currently one of the poorest in Asia and faces many challenges. Emerging from five decades of economic and political isolation, Myanmar today shows good potential for inclusive growth and development. It could be the next rising star in Asia if it can leverage its rich endowment of resources. The country's key strengths and opportunities include: Large and mostly young population providing an attractive labor force for foreign investment Rich supply of natural resources and inputs for agricultural development Potential of renewable energy, notably hydro power Investment opportunities in a range of sectors, including tourism and telecommunications Strategic geographic location between the region's emerging giants and able to benefit from Asia's integration The financial system is also through a lot of changes. Since 2010, the central bank has eased up restrictions on local banks, allowing them to engage in foreign exchange transactions, open ATMs nationwide, offer debit cards such as Visa, MasterCard and China UnionPay, and operate foreign money courier services through MoneyGram and Western Union. The central bank has also allowed foreign banks to set up 35 representative offices in the country, they all have the desire to open their own branches in the country. Although the details of foreign bank operations in Myanmar have yet to be revealed, the central bank and the government seems committed to allowing their participation in the economy. 3

3 4. Quantitative analysis and prognosis of the banking sector Total 1-19 years 19 years or older Human Development Index Population Economy GDP GDP per capita Estimated growth of GDP Total Assets of Banks Banking Penetration Estimated growth of Assets Estimated growth of Banking Penetration Estimated inflation of Kyat 4

4 Name of Bank Estimated Assets (USD) Year since present in Myanmar Private Banks Total Myanmar Citizens Bank Ltd. Yoma Bank Ltd. Myanmar Oriental Bank Ltd. Tun Foundation Bank Ltd. Kanbawza Bank Ltd. Global Treasure Bank Ltd. Innwa Bank Ltd. Co-operative Bank Ltd. Asia Green Development Bank Ayeyarwady Bank Ltd. United Amara Bank Ltd. Myanmar Apex Bank Ltd Myanmar Microfinance Bank Ltd. Remaining Banks State Owned Banks Total - 5

5 5. Private Banks of Myanmar 5.1. Myanmar Citizens Bank Ltd. I. General information Myanmar Citizens Bank (MCB) was established in 1991, Myanmar. MCB s most important activities are Retail banking and Corporal banking. They have recently acquired their authorized dealer license, the bank plans to expand into the International Banking and Trade Finance scene. They managed to link up with 16 correspondent banks in 10 countries, including the Commerzbank in Germany, providing a direct connection to Europe. MCB has also set up relationships with international remittance firms: Xpress Money, Money Gram and International Money Express (IME). II. Local presence MCB according to latest information currently owns 11 branches and has 360 employees across Myanmar. Their total assets in Myanmar in USD is III. Leadership The bank is led by the Board of Directors. Current ownership structure is 55% Ministry of Commerce and 45% public ownership. IV. Strengths MCB has Board Committees to supervise the management of the bank s operations. The main committees are the Management and HR Committee, Assets and Liabilities Management Committee, Risk and Compliance Committee, Audit Committee and the IT and Banking Development Committee. V. Weaknesses Right now the government has a relevant part in leading positions, but it s slowly decreasing. VI. Contact Website admin@mcb.com.mm 6

6 6. State Owned Banks of Myanmar 6.1. Myanma Foreign Trade Bank I. General information Myanma Foreign Trade Bank (MFTB) is a state-owned bank. Since a Bank Law in 1975 the single monopolistic Union of Burma Bank was split into four separate specialized banks, MFTB was one of them. Since its establishment, the bank has undertaken the state s international banking operations. MFTB tries to provide a complete range of international banking and financial services with its worldwide extended and stable correspondent network of 263 banks in 54 countries. The Bank sees its primary goals in improving its services and the development of international banking systems. II. Structure MFTB is organized with 11 departments: 1. Admin Department & Cash Department 2. Internal Audit Department 3. Exchange Control Department 4. Research & Statistics Department 5. Training & Developing Department 6. Account Department 7. Import Department 8. Export Department 9. Remittance Department 10. Loan & Guarantee Department 11. Central Department & SWIFT Department III. Contact Website 7

7 7. List of banking websites Name of Bank Private Banks Asia Green Development Bank Ltd Asia Yangon Bank Ltd Ayeyarwaddy Bank Ltd Construction and Housing Development Bank Limited Co-operative Bank Ltd First Private Bank Ltd Global Treasure Bank Ltd Innwa Bank Ltd Kanbawza Bank Ltd Myanma Apex Bank Ltd Myanmar Citizens Bank Ltd Myanmar Microfinance Bank Limited Myanmar Oriental Bank Ltd Myawaddy Bank Ltd Naypyitaw Sibin Bank Limited Rual Development Bank Ltd Small & Medium Industrial Development Bank Ltd Tun Foundation Bank Ltd United Amara Bank Ltd Yadanabon Bank Ltd Yangon City Bank Ltd Yoma Bank Ltd State Owned Banks Myanma Agricultural Development Bank Myanma Economic Bank Myanma Foreign Trade Bank Myanma Investment and Commercial Bank Website 8