Bangkok--22 Aug--Bangkok Bank
Bangkok Bank has formed collaborations with four leading Myanmar private banks to facilitate the business transactions of its Thailand and international customers, as well as to support personal banking customers remitting funds to Myanmar. Bangkok Bank’s network of banking partners in Myanmar now comprises four private banks and two government banks, supported by Bangkok Bank’s own representative office, which was established in Yangon in 1995.
Bangkok Bank Executive Vice President Wallapa Klinpratoom said Bangkok Bank has co-operation with four leading Myanmar private banks, namely: Asia Green Development Bank Ltd., Ayeyarwaddy Bank Ltd., Co-operative Bank Ltd. and Kanbawza Bank Ltd. The agreements will help support bank customers’ trade and investment, including the transfer of funds to Myanmar. The agreements with the four banks will take Bangkok Bank’s total correspondent banking network in Myanmar to six as it already has two existing Myanmar correspondent banks, government banks Myanmar Foreign Trade Bank and Myanmar Investment and Commercial Bank.
Funds transfers can be quickly and easily sent from Thailand to Myanmar. Customers of Bangkok Bank’s international branch network, such as those in China, Japan and ASEAN, will also enjoy these benefits, which will make transactions with their trade partners in Myanmar easier.
Mrs. Wallapa said Bangkok Bank has an extensive international network spanning 26 locations in 13 key economies, including the representative office in Myanmar.
“The expansion of Bangkok Bank’s correspondent banking network in Myanmar to six banks will be convenient for customers, especially those that have business in Myanmar or plan to do business in Myanmar. The new collaboration is timely due to strong global and regional interest in investing in Myanmar, as well as the establishment of the ASEAN Economic Community (AEC) in 2015,” said Mrs. Wallapa.