Bank branches to open shopping centers

Some private banks in Myanmar have opened their branches and service centers in shopping centers starting from the second week of April, according to industry sources.

The Central Bank of Myanmar has given permission for leasing of buildings and opening bank branches at shopping centers earlier this year.

“We have opened a new branch at Taw Win center. By permitting this, we hope, we can open more bank branches and we have the opportunity to meet our customers closely. I think, there are more branches to open,” an official from Cooperative Bank said.

Previously, the opening of private banks needs K 7oo million as a capital for per branch. Moreover, the building and the land must be owned by the private bank. As changes in the policy of the Central Bank, these bring about the convenience for the private banks land lease, building rent and opening at shopping centers.

source: Eleven Myanmar

http://elevenmyanmar.com/business/3246-bank-branches-to-open-shopping-centers