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Bangkok Bank Receive Final Approval to Open Yangon Branch

Bangkok Bank receive official banking license to offer financial services for foreign- invested companies and domestic banks. New Branch will support high potential businesses and industries by connecting with its international network. The branch will provide a full range of financial services covering deposits, business lending, trade services, transferring funds and foreign exchange services for foreign-invested companies and domestic banks in Myanmar in both foreign currencies and Myanmar Kyat. Senior Vice President & Branch Manager Kanet Buranasin and Assistant Vice President & Marketing Manager Tossatis Rodprasert will be the heads in new branch. Bangkok got preliminary approval for a license together with other eight foreign banks on 1 October 2014. “The Yangon representative office, which opened 20 years ago in 1995, has played a major role in providing useful information and convenient services to customers interested in investing and doing business in Myanmar. The new branch will enable the Bank to greatly increase this level of support, with services that include savings, lending, trade finance; foreign currency exchange, domestic and international fund transfers, and basic commercial bank services to foreign-invested companies and domestic banks “said Bangkok Bank President Chartsiri Sophonpanich. Bangkok bank is also a participant in upgrading Myanmar’s financial system including interbank and foreign-exchange development. Bangkok Bank also host seminars and events providing economic and business knowledge to corporate and SME customers to support Myanmar’s financial system. It will also assist education especially curriculum development for economics and business-administration faculties and promote knowledge exchange with domestic banks. Bangkok Bank created ‘Idea Can Do’ TV series to support SMEs. This TV series was aired on ‘Good Morning Myanmar’, new-talk program on Channel 7 in Myanmar. Bangkok Bank was established in 1944 and has over 1,200 branches including 30¬†overseas branches in 14 countries.