KBZ Bank, one of Myanmar’s largest private banks, has been recognized for excellence within the banking industry at the Asian Banking and Finance (ABF) Awards ceremony, held on July 18, 2019 in Singapore. The bank was awarded multiple accolades at the 14th ABF Retail Banking Awards – the Financial Inclusion Initiative of the Year – Myanmar and Mobile Banking Initiative of the Year. Held concurrently was the 8th ABF Wholesale Banking Awards which saw KBZ Bank awarded the Myanmar Domestic Trade Finance Bank of the Year.
Asian Banking and Finance, Asia’s leading financial publication, annually recognizes the most outstanding practices and innovative strategies in the region’s wholesale and retail banking sectors. The three accolades presented to KBZ Bank at the ABF Awards 2019 serve as an acknowledgment for the progress it has achieved towards helping Myanmar achieve 100% financial inclusion and greater connectivity with the introduction of KBZPay, and enabling best-in-class results for clients with the successful launch of four new trade finance products.
Head of Agent Banking, KBZPay, Soe Ko Ko, who received the ABF Awards on behalf of KBZ Bank, said “It is an honour for KBZ Bank to be consistently recognised among peers at a global level. The awards we have received reflect our efforts in introducing digital and financial services on-the-ground in a secured and measured way to ensure citizens are protected and well-equipped in digital and financial literacy as Myanmar makes a quantum leap into a mobile-first economy.” The new trade products launched in 2018 to support clients whose businesses involve import and export of goods with Pre-Shipment and Post-Shipment financing include: Packing Loan, Back to Back Letter of Credit (BBLC), Invoice Financing (Sales), Trust Receipt Financing (TR).