Kanbawza Bank [KBZ Bank] Limited, part of the KBZ group of companies, was awarded the Best Bank in Myanmar at the Euromoney Awards for Excellence-2016. This is the third time that KBZ Bank has won this award.
The award ceremony saw 180 participants from 48 of the world’s largest banking organisations from 25 countries.
Every year, Euromoney, the UK-based financial markets magazine for international banking and financial markets, awards “Best Banks” at the country, regional and global levels. The recognition accorded to KBZ Bank was based on an analysis of its market performance taking into consideration both quantitative and qualitative data in the last financial year. An increase in its revenue from customer deposits, its role in driving the country’s economic development, including its high advances to small- and medium-sized enterprises and its offering of foreign banking services in coordination with international banks were among the factors that led to KBZ winning the award. It has been instrumental in bringing more modern banking services such as mobile and internet banking, besides being the highest income tax-paying bank in the country.
In the second quarter (April-June 2016), KBZ Bank announced that it has been granted licences to open representative offices in Thailand and Singapore, making it Myanmar’s first bank to establish a presence in the international market. The bank now has 17,000 staff nationwide.
