Preliminary Approval Received for Foreign Bank License in Myanmar(1/1)
October 1, 2014
Sumitomo Mitsui Banking Corporation
Preliminary Approval Received for Foreign Bank License in Myanmar
TOKYO, October 1, 2014 --- Sumitomo Mitsui Banking Corporation (SMBC, President and CEO: Takeshi Kunibe) received today the preliminary approval for Foreign Bank License from The Central Bank of Myanmar, and will begin the necessary process to commence banking operations in Myanmar.
The growth of Myanmar economy is expected to
accelerate with an increase in direct foreign investment. The Foreign Bank
License will enhance SMBCfs ability to provide a wide range of banking services
and support for clients expanding their business in Myanmar.