September 20, 2017

KBZ bank announces alliance with Taiwan’s Cathay United Bank

Senior Managing Director U Than Cho of KBZ and President Mr. Chang Ken Lee of CUB sign MoU on promotion of collaboration between Kanbawza Bank Ltd and Cathay United Bank (CUB).
Senior Managing Director U Than Cho of KBZ and President Mr. Chang Ken Lee of CUB sign MoU on promotion of collaboration between Kanbawza Bank Ltd and Cathay United Bank (CUB).

Kanbawza Bank Limited (KBZ) on Tuesday announced the signing of Memorandum of Understanding with Cathay United Bank (CUB) that will promote collaboration between two banks in a number of areas.
The signing ceremony has taken place in Strand Square office complex, Yangon. The MOU is signed by Senior Managing Director U Than Cho of KBZ and President Mr. Chang Ken Lee of CUB. Ceremonial speeches are given by KBZ Executive Director Daw Nang Lang Kham and CUB President Mr. Chang Ken Lee.
Since the liberalization of Myanmar economy, KBZ has been expanding rapidly in international business. This MoU with CUB will allow KBZ to build further success on this collaboration. KBZ and CUB had already executed the first ever bilateral offshore loan in Myanmar worth US$80 million for the benefit of Myanmar SMEs. The alliance will also cater to the needs of CUB’s corporate customers who are exploring various opportunities in Myanmar.
The two banks will collaborate closer in areas that include, but not limited to international banking services, technical assistance, staff training, interbank business, syndication loans and customer matching. Through this alliance, KBZ aims to become the bank of choice for Taiwanese businesses and facilitate even more businesses between Myanmar and Taiwan.

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