ANZ has officially opened a branch in Myanmar after receiving final regulatory approval from the south-east Asian nation’s central bank.
The branch has been established to service multinational and joint venture companies with a presence in Myanmar, as well as international companies looking to enter the country from ANZ’s network countries.
ANZ said the Myanmar branch provides comprehensive solutions covering a full range of banking products including payments and cash management, electronic banking, lending, foreign exchange, and fund-based and non-fund-based trade finance.
The branch also offers specialist banking services for natural resources, utilities and infrastructure, telecommunication, consumer goods and other global diversified sectors that are expanding in Myanmar.
Andrew Géczy, ANZ’s chief executive for international and institutional banking, said the licence approval is the final step in the bank’s plans to deepen its presence in the Greater Mekong, following its recent branch opening in Thailand.
“As one of the only international banks with a presence in all five Greater Mekong countries, ANZ is uniquely placed to play a leading role for customers wanting to enter Myanmar,” he said.