Yoma Bank
Encyclopedia
Yoma Bank Limited is one of Myanmar's (Burma) largest commercial banks. It was established by First Myanmar Investment Company (FMI) in August 1993, with its first branch in Mingala Taungnyunt Township in Yangon
. Today, Yoma Bank has over 41 branches in 24 cities. Yoma Bank was among many privately-owned banks affected in the 2003 banking crisis, during which consumer confidence dropped after rumours spread throughout the country about the security of savings accounts. Like most all other privately owned banks in the country, the bank was solvent and maintained a sound loan to equity ratio, but was unable to withstand the abrupt and massive withdrawal of deposits and had to resort to the Central Bank's support. Its operations were subsequently curtailed and was allowed to remain open with limited services. Yoma Bank's former chairman Serge Pun (also known as Thein Wai) is now chairman and CEO of Yoma Strategic Holdings, a Singapore listed public company whose investments include both in Myanmar and China.
Yangon
Yangon is a former capital of Burma and the capital of Yangon Region . Although the military government has officially relocated the capital to Naypyidaw since March 2006, Yangon, with a population of over four million, continues to be the country's largest city and the most important commercial...
. Today, Yoma Bank has over 41 branches in 24 cities. Yoma Bank was among many privately-owned banks affected in the 2003 banking crisis, during which consumer confidence dropped after rumours spread throughout the country about the security of savings accounts. Like most all other privately owned banks in the country, the bank was solvent and maintained a sound loan to equity ratio, but was unable to withstand the abrupt and massive withdrawal of deposits and had to resort to the Central Bank's support. Its operations were subsequently curtailed and was allowed to remain open with limited services. Yoma Bank's former chairman Serge Pun (also known as Thein Wai) is now chairman and CEO of Yoma Strategic Holdings, a Singapore listed public company whose investments include both in Myanmar and China.
See also
- Economy of Burma
- Kanbawza Bank LtdKanbawza Bank LtdKanbawza Bank Limited is established on 1st July, 1994 in Taunggyi, Shan State, Myanmar. It is one of five major private commercial banks in Myanmar, along with Myanmar Universal Bank, Yoma Bank, Myanmar May Flower Bank, and the Asia Wealth Bank...
- Myanmar May Flower BankMyanmar May Flower BankThe Myanmar May Flower Bank is a bank of Burma. Founded in 1994 by U Kyaw Myint, it is the third largest bank in the country with ten branches.It was the first bank in Burma to have 24-hour automatic teller machines also was the first to introduce computer networks for transactions back in November...
- List of banks in Burma