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ANZ gets final ok from Myanmar regulator

ANZ announced it has received the final regulatory approval from the Central Bank of Myanmar to open a branch in the country. The bank had recently opened a branch in Thailand. ANZ had opened a representative office in Myanmar in June 2013 and it was one of the nine foreign banks winning banking licenses. The license came shortly before the one-year deadline will end. Announcing the license winners in October 2014, the central bank required them to open branches within a year. In a press release, ANZ said that through its branch, it aims to service multinational and joint venture companies with a presence in Myanmar as well as international companies looking to enter Myanmar from ANZ’s network countries. It will offer specialist banking services for natural resources, utilities and infrastructure, telecommunication, consumer goods and other global diversified sectors that are expanding in Myanmar.

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