KB Bank Myanmar kicks off its financial services in Yangon

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Yangon Region Chief Minister U Phyo Min Thein, Korean Ambassador to Myanmar Mr Lee Sang-hwa and officials cut the ceremonial ribbon to open the KB Bank Myanmar on 27 January 2021. Photo : Zaw Gyi

The KB Bank Myanmar launched its financial services as the first subsidy of the foreign bank yesterday. The opening ceremony of the bank was held at the Lotte Hotel in Yangon and was attended by Yangon Region Chief Minister U Phyo Min Thein, Korean Ambassador to Myanmar Mr Lee Sang-hwa, Chairman of Korean Association in Myanmar, President of KOCHAM Mr Park Jeong-Hwan, President of UMFCCI U Zaw Min Win and other officials.
The KB Bank Myanmar is the first subsidy of the foreign bank of Korean KB Kookmin Bank and awarded a banking licence by the Central Bank of Myanmar on 23 December 2020. The bank is opened at 104 University Avenue Road in No (9) Ward of Kamayut Township of Yangon and will serve banking services with new technologies like other local banks.
The CEO of KB Bank Myanmar said,” The bank will offer all banking services like other local banks. It started opening the saving accounts on 11 January. We will keep offering mobile banking services and foreign remittance services in the coming weeks.” The KB Bank Myanmar Ltd. will operate 10 branches in Myanmar- 5 in Yangon Region and another 5 in other regions and states during five years.—Zaw Gyi (Translated by Khine Thazin Han)

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