Yoma Bank
From Wikipedia, the free encyclopedia
 | |
| Company type | Private |
|---|---|
| Industry | Banking Financial services |
| Founded | May 1993 |
| Founder | Serge Pun |
| Headquarters | , |
Key people | Serge Pun (Chairman) (Chief executive officer) |
| Products | Retail banking Corporate banking Foreign currency accounts Foreign exchange services |
| Total assets | MMK 4.5 billion[1] |
Number of employees | > 3100 [2] |
| Website | www |
Yoma Bank Limited (Burmese: ရိုးမဘဏ်; Chinese: 祐瑪銀行; pinyin: Yòumǎ Yínháng) is one of Myanmar's largest commercial banks. As ‘the Responsible Bank’ for 30 years, Yoma Bank has been the fastest developing private bank in Myanmar. The bank has 81 branches across Myanmar.[3]
Yoma Bank was founded in May 1993[4] by entrepreneur Serge Pun of the First Myanmar Investment Company (FMI). After receiving a full commercial banking license, Yoma Bank opened its first branch in August 1993.[5] Since 1996, Yoma Bank expanded and has become one of the largest private banks in Myanmar.[6] In 1999, Yoma became Myanmar's first bank with a computerized accounting system and started using wireless communication to connect to all of its branches via satellite.[7] In 2001, Yoma Bank operated 41 branches in 24 cities.[5]
Banking crisis
After the Myanmar banking crisis in 2003, Yoma Bank's license was limited,[8] stopping the bank from accepting deposits or issuing loans. Yoma Bank focused on fee-based services such as remittances.[6]
