Yoma Bank Launches Business Center in Mandalay to Provide Extensive Financial Services in Upper Myanmar
With better access to Yoma Bank financing, it has never been easier for enterprises in the region to expand business operations to a next level
Aug 5, 2019
Yangon, Myanmar – Aug 5, 2019 – Yoma Bank launched a Business Center in July in Mandalay to accelerate its commitment to financial inclusion in upper Myanmar. The new Business Center is located at No. (D/2-20), Ward IV, corner of 62th street and Manaw Hari street, Chan Mya Thar Si Township, Mandalay. It aims to provide financial solutions to Mandalay based enterprises to grow their business given the positive economic outlook in the region.
With over 8,000 registered private firms and 5000 small and medium enterprise members alone in Mandalay, the economy in the region is expected to grow in the coming years. Understanding the importance of access to finance for the economic development in the region, the Center will help the businesses with financing and credit services to enhance sustainable economic growth.
Yoma Bank’s Head of Corporate Banking, Mr. Gerald Loh, said “Over 90 percent of all businesses in Myanmar are considered as SMEs and they play an important element in national economics. Seeing the growing importance of economic potential in Upper Myanmar, we are here to ensure that they have full access to finance and will not encounter inefficiency and low productivity that will hinder the business potential. Riding on the growth momentum in Mandalay, it is our hope that greater involvement through our corporate banking activities in the region will gradually uplift the economic activities for local business communities and improve living standards for the local communities."
The Business Center offers a diverse range of financial products and services, tailored to meet the needs of growing businesses such as corporate banking, SME banking, seasonal and agricultural loans to farmers, hire purchase, home loans and other digital credit products. Yoma Bank’s experienced corporate bankers and designated product specialists stationed at the Business Center will provide a full range of business services to interested clients and advise to provide financial solutions for each business sector.
Yoma Bank has always devoted itself to SME development and financial inclusion in the country and is actively targeting SMEs in its loan portfolio. Over 70% of the Bank loans have been made to SMEs with loan sizes ranging from 20 million MMK to 1 Billion MMK. For more information about the services at the business center, please contact Yoma Bank’s call center at 9662 or 09 79662 9662.