Two out of town banks are set to open next week bringing the total number operating in Myanmar to six.
Bangkok Bank and Industrial and Commercial Bank of China were green-lighted on May 26, the Myanmar Times reported on Thursday. June 2 was listed as the official opening date for both.
They’ll join Japan-based financial institutions Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation. The other two in operation are Singapore’s OCBC and UOB.
All were in a group of nine that won bids to open in Myanmar following decades of military rule and a closed-off economy. The remaining three are Japan-based Mizuho Bank, Australia and New Zealand Banking Group (ANZ) and Malaysia’s Maybank.
Photo: Wikicommons
