OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) announced on March 28, 2013 that it has entered into the Business Alliance Agreement with CB Bank, a leading private bank in Myanmar. Through this business alliance, BTMU seeks to support foreign companies considering expansion in Myanmar through customer and business referrals. BTMU will provide technical assistance for the advancement of CB Bank’s business.

CB Bank was established in 1992 when private banks were once again allowed to operate in Myanmar. CB Bank has been providing cutting-edge services including the introduction of Myanmar’s first-ever ATM and ATM cash withdrawal service.

Since establishing an office in Rangoon (Yangon) in 1954, BTMU has acted as agent bank for the Japanese government’s ODA yen loans and grant aid to Myanmar. Through this business alliance, CB Bank and BTMU aim to expand services to companies entering Myanmar and to contribute to the development of Myanmar’s banking sector.