Banks await big decision | Bangkok Post: business

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Banks await big decision

Top Thai lenders seen as front-runners among 25 contenders for foreign bank licences in Myanmar.

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Thai banks lead the Central Bank of Myanmar’s nomination list for foreign bank licences, scheduled to be awarded later this year, say banking industry sources. 

Bangkok Bank president Chartsiri Sophonpanich addresses a recent seminar sponsored by the bank in Yangon. Thailand’s largest bank has had a presence in Myanmar for 20 years, he noted.

The central bank announced earlier this year that it would issue licences to five to 10 foreign banks. It has prepared a list of 25 potential entrants comprising four Thai banks, three each from Singapore, South Korea, Taiwan, Malaysia and Japan, and one each from China, France, Australia, Mauritius, India and Vietnam.

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