Taiwan’s E. Sun Bank gets approval to set up branch in Myanmar

Focus Taiwan
Date: 2016/03/05 21:32:21
By: Liu Te-chan and Lilian Wu

Bangkok, March 5 (CNA) The Central Bank of Myanmar published Saturday a list of a second wave of four foreign banks, including Taiwan’s E. Sun Bank, that have been given permission to set up branches in the country.

According to the Central Bank of Myanmar list, the other three banks come from Vietnam, South Korea and India.

With the opening of Myanmar in recent years, many countries have targeted the development of the country and are soliciting opportunities to set up branches in Yangon, the country’s biggest city.

Eleven banks from Taiwan have set up representative offices there.

Myanmar first allowed foreign banks to open branches in 2014, but no Taiwanese banks were given permission at that time.     [FULL  STORY]