Kanbawza Bank

Kanbawza Bank Limited (KBZ)
Private
Industry Banking
Founded 1994
Headquarters Yangon, Myanmar
Key people
 Aung Ko Win (Chairman)
Products Financial Services
Increase Kyats 129 billion Kyats (2004)
Number of employees
 over 2061
Website www.kbzbank.com

Kanbawza Bank Limited (KBZ) (Burmese: ကမ္ဘောဇဘဏ်လီမိတက်) is a private commercial bank in Myanmar. It is one of five major private commercial banks in Burma (Myanmar Universal Bank, Yoma Bank, Myanmar May Flower Bank, and the Asia Wealth Bank are the others).[1] The bank was established on 1 July 1994 in Taunggyi, Shan State. KBZ is part of the Myanmar Billion Group conglomerate (founded by Aung Ko Win aka Saya Kyaung) which is involved in the mining industry and is regarded to be close to former SPDC Deputy-Chairman Maung Aye. KBZ is one of few banks in Myanmar that offers credit card and remittance services.[2]

In February 2010, the bank bought an 80% share in Myanmar Airways International, Myanmar's international airline.[3] On 1 April 2011, the bank launched Air KBZ, one of four privately owned domestic airlines in Burma, with plans to expand to international flights in the near future.[4]

References

  1. ↑ Fujita, Kōichi; Fumiharu Mieno; Ikuko Okamoto (2009). The Economic Transition in Myanmar After 1988: Market Economy Versus State Control. NUS Press. p. 153. ISBN 978-9971-69-461-6.
  2. ↑ Turnell, Sean (2009). Fiery dragons: banks, moneylenders and microfinance in Burma. NIAS Press. p. 264. ISBN 978-87-7694-040-9.
  3. ↑ Moe, Wai (2010-02-03). "Western-sanctioned Kanbawza Bank Buys Airline". The Irrawaddy. Retrieved 2010-09-14.
  4. ↑ Zaw Win Than (28 March 2011). "Kanbawza to launch domestic airline on April 1". Myanmar Times. Retrieved 25 March 2012.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.