Malaysia's Maybank starts branch operations in Myanmar

KUALA LUMPUR — Malayan Banking Berhad (Maybank), Malaysia's largest bank by assets, said today (Aug 3) it commenced branch operations in Myanmar, becoming the first and only Malaysian bank to open a branch in that country.
Maybank, Southeast Asia's fourth largest bank, is one of the foreign banks ranging from Japan's Bank of Tokyo Mitsubishi UFJ Limited to Singapore's Oversea-Chinese Banking Corporation Limited that have gained a presence in Myanmar.

In October, government granted nine foreign banks coveted licences to operate on a limited basis, its biggest move to date to bring in much needed foreign capital to a fast-growing economy. REUTERS