Kanbawza (KBZ) Bank of Myanmar will establish a branch in Thailand. Thailand’s regulator has granted a license to the Myanmar bank to open a representative office in the country. KBZ said in a statement the licence marked a major milestone for Myanmar’s largest private bank as it became the first bank to establish a presence anywhere outside the country. The representative office, which will need further Thai approval before it can provide banking services, is to be headed by Zeyar Sein Htut, KBZ Bank’s newly appointed country head for Thailand. KBZ said the office would focus on market research, liaising with the private sector and serving as a source of information, including regulatory requirements for doing business in Thailand and Myanmar.
