YANGON, January 10, 2024 - CB Bank and MUFG Bank recently commemorated their 10-year partnership, a collaboration that has significantly empowered both local businesses and Japanese corporations in Myanmar. The milestone event, held at Yangon's Wyndham Grand Yangon Hotel on January 10, 2024, was a testament to the enduring relationship between one of Myanmar's top financial institutions and one of the world’s largest banks with headquarters in Japan.
Initiated in 2013, this strategic partnership was aimed at enhancing financial services and fostering economic ties between Japan and Myanmar. Over the last decade, CB Bank has played a pivotal role in integrating more than 350 Japanese corporations into Myanmar’s economy through joint efforts and cross-referral programs with MUFG Bank, boosting the growth of various business sectors.
At the celebration, Mr. Kyaw Lynn, Executive Vice Chairman and CEO of CB Bank, expressed his enthusiasm about the partnership's impact, stating, "This 10-year partnership with MUFG Bank has been truly transformative for CB Bank. We have seen substantial growth and development in our ability to cater to our valued Japanese clientele’s banking needs. The synergies between our two banks have enabled us to provide diversified and comprehensive financial solutions, establishing CB Bank as a reliable partner for Japanese corporations and local businesses in Myanmar."
Echoing this sentiment, Mr. Takuya Tazawa, the Managing Director and Head of MUFG Yangon Branch, highlighted the collaboration's success: "CB Bank has been an invaluable partner for MUFG Bank in Myanmar. Through our strategic partnership, we have been able to access new markets, establish a strong presence, and offer an extensive range of financial services to our clients. We are proud of the achievements we have made together, and we look forward to further strengthening this collaboration in the years to come."
The event, graced by distinguished guests and top executives from both banks, provided a platform for reflecting on past achievements and envisioning future collaborative endeavors. As they embark on the next chapter of their partnership, CB Bank and MUFG Bank remain dedicated to promoting economic growth and financial inclusivity in Myanmar