May 26, 2015 / 11:08 AM / 4 years ago

Bangkok Bank to open first branch in Myanmar on June 2

BANGKOK, May 26 (Reuters) - Bangkok Bank, Thailand’s largest lender by assets, said on Tuesday it will open its first branch in Yangon on June 2 after officially receiving a final licence from Myanmar’s government.

The new branch will provide a full range of financial services and connect to the bank’s international network to support customers doing business in Myanmar, Bangkok Bank President Chartsiri Sophonpanich said in a statement.

Bangkok Bank was one of nine foreign banks and the only Thai bank to receive preliminary approval in October 2014 for a licence to commence banking operations in Myanmar.

The Thai bank had a representative office in Yangon for 20 years before receiving the licence.

Last month, two Japanese and one Singaporean bank were among first foreign lenders to operate in Myanmar for decades when they opened branches, as the country emerges from a long phase of economic isolation, state media reported. (Reporting by Khettiya Jittapong, editing by David Evans)

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