Myanmar's best corporate and investment bank 2018: CB Bank
Like the best banks in Myanmar, CB Bank is always looking to find new ways to improve. Founded in 1992, the lender has spent the last few years updating its core banking system, introducing internet banking for corporates, as well as catering to the needs of large domestic companies that want to expand in Myanmar and beyond, as well as to foreign multinationals hoping to crack this vast and underdeveloped market.
CB Bank was the first local lender to roll out pre- and post-shipment export financing and export letters of credit, and to introduce a spot and forward foreign exchange transactions service for import LCs, outbound remittances and bank guarantees.
In 2017, it unveiled a structured trade unit and currency exchange machines to meet the needs of local firms eager to expand their regional footprint.
CB Bank also upgraded its IT capabilities and introduced new cash management services – notably electronic payments and receivables, and liquidity management solutions – tailored to the needs of multinationals, financial institutions and NGOs.
A key focus now is to introduce seamless digital services to the bank’s main clients, including bulk payroll processing. Recognizing the need to draft in executive talent from beyond its shores, CB Bank hired two Singaporean bankers with extensive experience in this space: Toh Kai Leong, who joined as head of corporate banking after stints at ING and OCBC, and Liew Chee Seng, adviser to the chief executive U Kyaw Lynn, who was previously head of financial institutions at Abu Dhabi-based First Gulf Bank.