Myanmar Banking 2014: Market, Trends, Risks, Opportunities, Best Practices
Myanmar is a fast growing economy with a population over 60 million. Myanmar banking system will soon open up for foreign entities to enter. This is one of the few reports available on Myanmar banking system (in fact, the only report). Myanmar is the last frontier market in the emerging Southeast Asian region. Global companies are heavily investing into manufactory facilities in Myanmar. Despite of its dynamism and potential, the financial community has paid little attention to Myanmar until now. Banking penetration is only 5%, which makes 95% of adult population prospect to become new clients. Projected growths of assets is 20% per year.
Myanmar Banking 2014: Market, Trends, Risks, Opportunities, Best Practices, is up to date (august 2014), this report is detailed (34 pages long). Analyzes 26 banks, pointing out their strengths and weaknesses and paints a consistent picture cutting through the lack of trustworthy data. Analyzes risks and opportunities in Myanmar banking system and provides quantitative prognosis for the coming years. Myanmar is one of the last frontier markets soon to be opened up for foreign banks.
On the 2nd of October 2014 Myanmar granted 9 Preliminary Banking Licenses for a 12 month trial period. The license holders are Australia and New Zealand Banking Group (ANZ), Bangkok Bank, Bank of Tokyo-Mitsubishi UFJ (BTMU), Industrial and Commercial Bank of China (ICBC), Malayan Banking Berhad (Maybank), Mizuho Bank, Oversea-Chinese Banking Corporation (OCBC), Sumitomo Mitsui Banking Corporation (SMBC), United Overseas Bank (UOB). This is a great step in the history of Myanmar!
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