Myanmar Banking

Myanmar Banking sector didn’t develop in decade from 2001 to 2011 and banking rate is bottom of South East Asian countries as per review of Head of Project from Germany Development Corporation (GIZ) at 2014. Although deposit money and loans money are increasing by regularly start from year of 2006 – 2007, the banking operation system is in base level until now in Myanmar Banking sector.
In Myanmar, we can see the banking system as the four kinds of form such as Government Banks, Joint Venture with Government Banks, Private Banks and Foreign Banks. The total values of Government Banks, Semi – Government Banks and Private Banks are equal 50% of country GDP as per review of GIZ at 2014.
Although the Government Banks and Joint Venture with Government Banks are trying to develop as development of Private Banks, the market shares of Government Banks and Semi - Government Banks are decreasing in Myanmar Banking Sector.
Now many Foreign Banks come to extend their network in Myanmar such as Bangkok Bank, Mizuho Corporate Bank, May Bank, OCBC Bank, the Bank of Tokyo Mitsubishi Bank and UOB Bank.
Now In Myanmar, all of Myanmar Banks are starting to operate their Banking services with IT system and some of Private Banks starts to use the mobile banking to extend their Banking Business. The Myanmar Banking Sector is delaying to develop the banking sector because many citizens can’t use IT banking system at everywhere in Myanmar but all of Myanmar Banks are trying to develop the Myanmar Banking Sector.
However, Myanmar Banks have the strong points that the many experience in Myanmar Banking Sector with many years and Myanmar Banks know what the essential of Banking Sector in Myanmar.