Finance
List of Commercial banks in Burma
Burma’s (officially the Republic of the Union of Myanmar) banking system is undergoing a critical transformation. As the country in Southeast Asia moves towards a market-based economy, its banks are playing a vital role by facilitating the flow of money (financial intermediation), encouraging investment, and fueling economic growth. This shift promises to bring greater prosperity for Burma.
Overview and Opportunities in Burma’s Banking Sector
Burma’s banking sector, comprising state-owned, private, and foreign banks, offers a wide range of financial products and services, including traditional banking, trade finance, investment banking, and wealth management. Regulated by the Central Bank of Myanmar (CBM) and the Financial Regulatory Department (FRD), the sector ensures compliance with local and international standards. Recent technological advancements, such as digital banking platforms and mobile payment solutions, have enhanced efficiency and financial inclusion. Despite challenges like limited rural access, regulatory constraints, and cybersecurity risks, the sector presents opportunities for supporting infrastructure development, foreign investment, and technological advancements, integration amidst the country’s transition to a market-oriented economy and political reforms.
| Bank Name | Bank Sector | Headquarters | Bank Revenue( MMK) | Bank Revenue (USD) | Contact details |
| Kanbawza Bank | Commercial | Yangon | 190 million | 0.0905 million | +95 1 230 6219 |
| Myanmar Economic Bank (MEB) | Commercial | Naypyidaw | 58-billion | 0.0276 billion | 95 1 519 541 |
| Cooperative Bank (CB Bank) | Commercial | Yangon | 388 million | 0.1848 million | (95-1) 231 7770 |
| Asia Green Development (AGD) Bank | Commercial | Yangon | 8 Million | 0.0038 Million | +95 12399333 |
| Myanmar Investment and Commercial Bank | Commercial | Yangon | 43.6 billion | 0.0209 billion | (95) 01- 250514 |
| Yoma Bank | Commercial | Yangon | 10.77 million | 0.0052 million | +95 1 934 5255 |
Burma’s banking sector faces both challenges and vast potential. While it serves as a crucial pillar for economic growth and stability, ongoing reforms in regulations, technology, and financial inclusion are essential to unlock its full potential. As Burma integrates further with the global financial landscape, its banks are well-positioned to be key drivers of progress and prosperity for the nation in the years to come.
