August 19, 2016

Euromoney names KBZ Myanmar’s best bank

Daw Khin Hnin Yu and Daw Win Win Htaik accept “The Best Bank in Myanmar-2016” Award. Photo: KBZ
Daw Khin Hnin Yu and Daw Win Win Htaik accept “The Best Bank in Myanmar-2016” Award. Photo: KBZ

KANBAWZA Bank was awarded “The Best Bank in Myanmar-2016” by London-based economics magazine Euromoney, last Thursday at Island Shangri-Lan Hotel in Hong Kong, winning the award for the third year in a row.
KBZ Bank was crowned Myanmar’s best bank after it managed to get the highest amount of deposit and make the highest profits from its banking services. The award also recognised the scale of KBZ Banks services with 400 bank branches nationwide and the highest amount of loans distributed to small and medium enterprises which “underpinned the development of the country”.
At the award ceremony, Euromoney also acknowledged KBZ’s quick and accurate banking services with its Oracle Flexcube Centralized Core Banking System, its overseas banking services which link it with foreign banks, the  establishment of the country’s first ever Electronic Payment Gateway service and its “modern banking services” which include mobile banking, internet banking, quick pay services, and having the largest numbers of ATMs nationwide.
KBZ is Myanmar’s largest income tax payer and makes the largest contribution to social welfare in the country, according to Euromoney. KBZ Bank has been Myanmar’s largest tax payer for four consecutive years, from the 2011-12 FY to 2014-2015 FY and since 2007, KBZ’s Brighter Future Myanmar foundation has spent more than K103 billion on regional development and disaster preparedness.
At Euromoney’s award ceremony, America’s JP Morgan Chase Bank,  Germany’s Commerz Bank, China Construction Bank from China, Japan’s MHFG Bank, DBS Bank from Singapore and Thailand’s Bangkok Bank were also awarded “the Best Bank” while BNP Paribas, a French bank, won “Best Global Bank” this year.
Daw Khin Hnin Yu and Daw Win Win Htaik, general managers of KBZ Bank Ltd, accepted the award. Present at the ceremony were more than 180 senior officials, CEOs, managing directors and chairpersons of 48 banks from 25 Asian countries.
Kanbawza (KBZ) Bank was granted a license by the Monetary Authority of Singapore to open a representative office in Singapore.—Thura Lwin (Eco)


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