Bangkok Bank Gearing Up for Full Services in Myanmar

Bangkok Post | Bangkok Bank (BBL), the only Thai bank operating in Myanmar, sees a bright future in the country as it continues to undergo dramatic social, economic and political reforms.

Chansak Fuangfu, a director and senior executive vice-president, said BBL has had a representative office in Yangon for 17 years.

Myanmar has yet to allow foreign banks to open full branches in the country, although many expect liberalization to occur in the coming years.

But that country’s central bank is now considering allowing foreign banks to open additional branches and upgrade their licenses, giving banks such as BBL an opportunity to expand their service offerings locally.

“BBL is certainly ready to expand our presence, open new branches and offer a full range of financial services,” said Mr Chansak.

The Central Bank of Myanmar has already begun allowing foreign banks to establish joint ventures with local investors.

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