KANBAWZA Bank (KBZ Bank) has opened a representative office in Bangkok, becoming the first Myanmar bank to establish an international presence.
The representative office is located in the Sathorn Square Office Tower, 98 North Sathorn Road, Silom, Bangrak in Bangkok .
At the opening ceremony held at the Dusit Tani Hotel on Wednesday the Governor of the Bank of Thailand Mr Veerathai Santiprabhob welcomed the opening of KBZ’s representative office in Thailand.
Ambassador of Thailand to Myanmar Mr Pisanu Suvanajata, Ambassador of Myanmar to Thailand U Win Maung and Chairman of the Union of Myanmar Federation of Chambers of Commerce and Industry U Win Aung extended greetings at the opening ceremony.
Also present at the ceremony were Chairman of Kanbawza Bank Ltd U Aung Ko Win, executive directors Daw Nang Lang Kham and Daw Nang Kham Naung, senior officials of the KBZ Bank Ltd and local international banks in Thailand as well as invited guests from Thai economic institutions.
KBZ Bank officially received a licence from the Bank of Thailand earlier this year to open the office in the capital. The bank also recently obtained a representative licence to open an office in Singapore, continuing its planned expansion within the ASEAN region.
The KBZ Group of Companies was ranked top for best performance in 2014 by the Myanmar Centre for Responsible Business for its operation meeting with rules and regulations and being transparent.
Zeyar Sein Htut, KBZ Bank’s new chief in Thailand, said there are many opportunities in sectors between the two countries, adding that KBZ is well prepared to provide services standing shoulder to shoulder with international banks. KBZ will focus on market research, liaising with the private sector and serving as a source of information, including regulatory requirements for doing business both in Thailand and Myanmar.
Thura Lwin (Eco)