KBZ Opens 500th Bank Branch

KBZ Opens 500th Bank Branch (November, 10th 2017)
KBZ Bank has been broadening its network nationwide to play a vital role in supporting the banking sector and economic development in Myanmar. Today the 500th branch of KBZ Bank was officially opened and will begin providing state-of-the-art banking services for customers. Branch number 500 is located at the corner of Anawrahta Road and Shwe Dagon Pagoda Road, Pabedan Township, Yangon.
“KBZ Bank Ltd. was established in Taunggyi in 1994, and its very first branch was purchased from the former owner in 1997. It was the only bank in Taunggyi at the time. Now, we are the first Myanmar bank reach the 500 mark thanks to the effort of qualified local staff and international experts. Our aim is to support and strengthen the banking sector, which is critical for the development of the country. Not only have we achieved these goals, we strive to act as a responsible business and have been the highest corporate tax payer for six consecutive years,” explained by Daw Nang Lang Kham, Deputy CEO of KBZ Bank Ltd.
In addition to the 500-branch network, KBZ Bank now has more than 1,000 ATMs and over 20,000 staff nationwide. It is also the first private bank to have expanded internationally, with representative offices in Singapore, Thailand and Malaysia.
KBZ Bank utilises cutting edge technologies from Oracle, Microsoft and VMWare to deliver its national and international banking services. The bank also employs international credit and debit card services - Visa, Mastercard, UnionPay and MPU – together with 24-hour auto-banking at ATMs and currency exchanges. At the forefront of modern digital transformation, the bank offers digital payment functions such as mobile & internet banking, as well as support for e-commerce. For fast and secure connectivity, branches use advanced satellite communications technology provided by KBZ Gateway.
Daw Nang Kham Noung, Deputy CEO of KBZ Bank also explained that “As for the future plan, we aim to expand the branch network by around one hundred branches a year with a target of reaching 1,000 branches across Myanmar by 2023 with the permission of Central Bank Myanmar,”.
KBZ Bank’s remarkable progress, both locally and internationally, has been assisted by the direction and support of the Central Bank of Myanmar. KBZ Bank provides innovative services to the public and has won an array of national and international awards including ‘Best Bank in Myanmar’ by The Financial Times, Euromoney, Asian Banking and Finance (AB&F), Finance Asia and World Finance.
This year KBZ Chairman U Aung Ko Win was awarded the ASEAN Legacy Award, which recognizes outstanding entrepreneurs who have made a positive impact and contributed to the community in their
home country, as part of the ASEAN 50th anniversary celebrations. The Chairman was also chosen as The Best Banker in Asia for three consecutive years.
As the branch network strengthens, an important component of that community contribution is KBZ Group’s philanthropic foundation: KBZ Brighter Future Myanmar (BFM). Founded and chaired by Daw Nang Lang Kham, Deputy CEO of KBZ Bank, BFM conducts corporate social responsibility (CSR) activities and has donated over 135 billion kyats to various charitable causes such as religious organisations, education, health, disaster relief and social initiatives, amongst other important sectors. The foundation has won the Best Philanthropic Organization in Myanmar award, conferred by the President of the Union of the Republic of Myanmar, and picked up the Euromoney Achievement Award for CSR. For this work and her potential in the industry, Daw Nang Lang Kham had also been named The Promising Young Banker in Myanmar Award by The Asia Banker
Daw Nang Lang, Deputy CEO of KBZ Bank Ltd. said, “KBZ Brighter Future Myanmar Foundation provides the best possible support for the country and public. As the bank is represented nationwide, we passionately support all Myanmar citizens and strive to contribute to the development of the country.”
Further to reaching the significant milestone for Myanmar’s growing financial sector of successfully opening the 500th branch, KBZ Bank greatly appreciates its loyal customers for their continuous support and all its hard-working staff at KBZ Group of Companies.
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