Myanmar's best bank for SMEs 2021: CB Bank
Banking in Myanmar has never been easy. The country has long balanced a competitive landscape with a massively unbanked population. Banks have tried a variety of approaches to entice customers and establish a presence in the far corners of the country. CB Bank stands out as Myanmar's best domestic bank, best corporate and investment bank and best bank for small and medium-sized enterprises.
CB Bank, founded in 1992, has made itself a key player in the banking world. Its outstanding performance in Myanmar in 2020 was notable across the board, from retail to SMEs to large corporations. The bank, led by chairman and chief executive Kyaw Lynn, has tried to become a one-stop shop for clients during the Covid-19 pandemic.
In the 2019/2020 fiscal year, CB Bank reported total revenue of nearly K545.88 billion ($388 million). Loans increased 17% to about K3.75 trillion. Deposits grew 26%, as the bank reported total deposits and savings of K6.57 trillion.
Even in the face of considerable obstacles, CB Bank’s ambition is to offer more digital options for its customers and increase its current 245 branches to 300 in the next two years.