BTMU announces creation of learning center in Myanmar

Possibly helping Myanmar's banking professionals' competencies.

The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) has announced that it will fund the development of a brand new learning centre at the Myanmar Institute of Banking (MIB), which is the training arm of the Myanmar Banks Association (MBA).

According to a release from the Bank of Tokyo-Mitsubishi UFJ, the learning centre will be equipped with the latest computer equipment and training resources.

The centre will be used to provide computer-literacy and language training programmes catered to the staff of MBA’s member banks.

The learning centre will be located within the premises of MIB and is expected to be ready by the second half of 2015.

This initiative not only commemorates the opening of the BTMU Yangon branch but also reaffirms its commitment in developing the human capital needed to drive the future growth of Myanmar’s financial services sector.

Here's more from the Bank of Tokyo-Mitsubishi UFJ:

Commenting on this initiative, Mr Go Watanabe, Chief Executive Officer for Asia & Oceania of BTMU said, “In order to realize the vision for long-term mutual prosperity of Myanmar and Japan, it is important for the bank to support Myanmar as it embarks on its journey to build a strong and mature economy.

This new learning centre marks the beginning of a mutually beneficial partnership between BTMU and Myanmar Banks Association in raising the overall competency of the workforce in the financial services sector. This I believe will help Myanmar to build a solid foundation for a more sustainable future growth.”

Today also marks the commencement of business at the new BTMU Yangon Branch. BTMU is the first foreign bank to open its branch for business in Yangon and remains committed to dedicate valuable financial and human capital resources towards the development of Myanmar’s economy and infrastructure.

In addition, BTMU’s majority-owned banking subsidiary in Thailand, Bank of Ayudhya PCL (Krungsri), has also opened its Yangon Representative Office today.

Its presence will further entrench the close collaboration between BTMU and Krungsri in serving their corporate and SME clients by leveraging on the respective banks’ network, products and services.

BTMU Yangon branch will provide full banking services, including deposits, loans, and foreign exchange, to foreign companies and domestic banks operating in Myanmar.

Currently, BTMU Yangon branch has total staff strength of about 30, which is close to five times more than the number of staff it had when it was operating as a Representative Office. BTMU Yangon branch is located at Union Financial Centre, Corner of Maharbandoola Road & Thein Phyu Road, 2nd floor, Bohtataung Township, Yangon 11161.

BTMU’s presence in Myanmar can be dated as far back as 1918 under Yokohama Specie Bank. In the late 1980s, when Myanmar first started to transit out of its closed-door policy, BTMU, under its precursor, Bank of Tokyo, was the first Japanese bank to re-enter the Myanmar market in 1995.

By 2013, BTMU has formed various business alliances and partnerships with different Myanmar organisations and banks including a Memorandum of Understanding (MOU) alliance with MBA.

Under this MOU, BTMU is committed to provide various training and knowledge sharing programmes to MBA’s member banks.

The MBA was established in 1999 and to date, it has a membership of 26 banks comprising state-owned banks, state insurance institution and private banks.