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Myanmar Citizens Bank to enhance SME's access to finance.

BANKING AND CREDIT NEWS-August 20, 2019--Myanmar Citizens Bank to enhance SME's access to finance

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Global Banking News - 20 August 2019

Yangon-listed Myanmar Citizens Bank (MCB) has entered into an agreement with the International Finance Corporation (IFC) to increase small businesses and individuals' access to finance, an online report said.

The IFC will provide advice to (MCB) to transform and modernise its business operations to better serve small businesses. To be delivered over two years, the transformation project will focus on optimising products and channels, improving branch and sales networks, optimising credit and risk management strategies as well as streamlining organisational management, the report said.

'Successfully implementing this transformation project will significantly strengthen our SME and retail banking segments and will help thousands of businesses in Myanmar gain access to better banking,' said MCB chair, U Toe Aung Myint.

Launching its bank services in 1992, MCB's initial role was to process foreign exchange for exporters. MCB was listed on the Yangon Stock Exchange in August 2016, the report added.

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Publication:M2 Banking & Credit News (BCN)
Date:Aug 20, 2019
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