Kanbawza Bank opens first rep office in Bangkok
Kanbawza Bank (KBZ Bank), part of the KBZ Group of Companies, today opened the representative office in Bangkok, being the first Myanmar bank to establish international presence.
“We intend to start offering financial and advisory services as soon as possible to Myanmar individuals and businesses in Thailand and, naturally, Thai businesses interested in entering Myanmar. We hope they take advantage of our extensive knowledge of Myanmar’s financial markets and join the growing bilateral trade between our two countries,” said Than Cho, senior managing director of KBZ Bank.
He believes that the new office in Thailand could play a key role in helping Myanmar support the entire Asean business community.
Thailand and Myanmar recenlty announced the plan to double bilateral trade to US$20 billion in 2017.
“The long-standing relationship between the two countries offers ample opportunities to collaborate across various sectors in the region. We have long been a leading financial institution in Myanmar, and are prepared to represent the country alongside our international industry peers,” added Than Cho.
The bank also aims to build relations with Myanmar nationals staying in Thailand, estimated to be around 3 million.
To win the rep office licence, KBZ went through stringent due diligence process that looked into the bank's position, shareholders and investments.
