Tuesday, July 25, 2017

List of foreign banks through to next round revealed

The Central Bank of Myanmar released the names of 25 foreign banks which have progressed to the next round in the bid to be licensed, according to a July 15 news release.

Some 30 banks had initially been pre-qualified, but only 25 applications were received, the release said. Myanmar has representative offices of 42 foreign banks though many are state-run trade finance banks and thought to not be interested in receiving licences.

“The Licensing Committee will now evaluate each [request for proposal] response following detailed quantitative and qualitative assessment criteria,” the release said.

“The committee looks forward to analysing their plans for the development of the banking sector in the Republic of the Union of Myanmar and to selecting and announcing the successful applicant,” it said.

The banks on the list include:

Australia

ANZ Bank

China

Industrial and Commercial Bank of China (ICBC)

France

BRED

India

State Bank of India

Japan

Mizuho Bank

Bank of Tokyo

Mitsubishi UFJ

Sumitomo Mitsui Banking Corporation

Malaysia

Maybank

OCBC

RHB Bank

CIMB

Mauritius

State Bank of Mauritius

Singapore

OCBC

DBS

United Overseas Bank

South Korea

Kookmin Bank

Shinhan Bank

Industrial Bank of Korea

Taiwan

Cathay United Bank

E.SUN Commercial Bank

First Commercial Bank

Thailand

Bangkok Bank

Krung Thai Bank

Siam Commercial Bank

Kasikornbank

Vietnam

BIDV

Absent from the list are several large international banks with Myanmar representative offices, including Standard Chartered and South Korea’s Hana Bank and Woori Bank. Officials were not immediately available for comment.