Kan Baw za Bank Brancheskan baw za Bank branches
Within four years, beginning with the financial years 2011-2012, Kanbawza Bank has already contributed more than 50 billion Ts. In the financial years 2011-2012 they payed over CZK 6 billion, in the financial years 2012-2013 over CZK 11 billion, in the financial years 2013-2014 over CZK 17 billion and will make up to CZK 22 billion in prepayment in this financial year.
The Aye Tharyar Club in Taunggyi hosted a round of Golf and evening meal to celebrate the opening of the Bogyoke store. Sao Aung Myat, ministre en chef de l'État Shan, le commandant major-général Aye Win du Commandement de l'Est, la présidente Aung Ko Win de Kanbawza Bank Ltd, la vice-présidente Nan Than Htwe de Kanbawza Bank Ltd. et weitere Beamte der Kanbawza Bank Ltd. nahmen alle an der Zeremonie teil.
The Kanbawza Bank has provided 300 million Ks of start-up funds for the construction of the Buddha University in Taunggyi.
MYANMAR' s run on deposit gives youngsters a scare
With Myanmar's biggest bank short run last weekend, what economies and scholars are saying is the pressing need to change a delicate bank system that is susceptible to rumours and rumours as it grows fast. This is exacerbated by the situation of those whose ownership continues to be affected by US penalties for ties with the former army jug.
They could fight to create a new, cleaner Myanmar and stay particularly susceptible to speculations and rumours, the analyst said. The largest test since Myanmar's young bank system on Friday saw about 9 billion kyats (10.5 million dollars) taken from Kanbawza Bank Ltd. because of the interception by law enforcement of a Kanbawza lorry carrying smuggled goods and the arrest of the bank's president, Aung Ko Win.
Kanbavza and the Federal Reserve Bank refuted the rumours and reassured the panic deposits that the bank's 80 branches had enough funds to cope with the rush in their two largest towns, Yangon and Mandalay. One third of the deposit is linked to debt and each store has sufficient funds to make a withdrawal.
Bank, which has 100 billion kyats in funds, said the emergency withdrawal had ceased as of Monday. This onslaught on Kanbawza Bank brought back to mind two institutions that fell apart in 2003 during the catastrophic economic reign of the 1962-2011 army and the domination of the industry by the black-listed mates. Today, ten of them are in the possession of business people who are connected with the former army junt.
The Kanbawza Bank is part of the KBZ group of Aung Ko Win, which holds two carriers and profitable franchises for the extraction of jewels, Java and Saphirs. He has ensured this through his relationship with the former deputy of the regime, General Maung Aye. Macquarie University, Australia, Jared Bissinger, an economics specialist on Myanmar, said that after years without dependable information or the backing of impartial news agencies, rumours have had great impact in Myanmar, this case compounded by a "continuing shortage of government confidence" in the financial world.
Kanbavza rumours remain a puzzle and the Federal Reserve insists that it was behind all 19 Myanmar commercial and government institutions, some of which were privately and others partly state-owned. Myanmar is Asia's second impoverished nation after five years of violent regime dictatorship, but as it opens its economies, its impact on Asia's last border markets is at risk.
For the time being, new Myanmaranmar' s bankers must trust the country' s current bank. There is no lack of interest, with creditors such as Standard Chartered (STAN. L), Malayan Banking Berhad (Maybank) (MBBM. KL) and Bangkok Bank (BBL. BK) among more than a decade that have established representations in Yangon.
Control Risks Asia Analysis Director Andrew Gilholm said the Kanbawza scaremongering would be little threat to a small and well-supported bank system, but it showed the obstacles to Myanmar's economic reforms. "This is certainly a reminiscence of the very low basis from which Myanmar's reforms and opening up are beginning.....