OCBC
OCBC has topped Asiamoney's list of international banks in Myanmar time and again. The bank's longstanding position in the country – and its unique understanding of Myanmar's problems and opportunities – has made it the best international bank for the fourth consecutive year.
In response to the pandemic, the bank offered loan moratoriums and relief measures. Led by Daniel Tam, general manager for OCBC Bank Yangon branch, the bank was able to report growth, increasing its monthly banking transaction volumes by more than 22% year on year, with $3 billion of remittances. The bank also reported 14% growth in its customer base.
It should come as no surprise that OCBC added to its customer base, given its reputation in Myanmar. One of OCBC's clients in Yangon told Asiamoney that the service OCBC has offered him goes well beyond what many banks give their clients. OCBC holds clients' hands when necessary, showing them what they need to do and helping them to do it the right way. It's not easy for companies to transition from being in a sanctioned, closed-off country to a position where they can expand their businesses in the region.