Myanmar Finance International Limited (MFIL) And Yoma Bank Signed A Funding Agreement
USD 6 Million Local-Currency Equivalent MMK 8 Billion Funding Agreement in Support of MFIL’s Microfinance Funding Activities in Myanmar
Yangon, Myanmar – April 20, 2018 – Myanmar Finance International Limited (MFIL) is a microfinance institution that offers services to nearly 54,000 borrowers in Yangon and Bago, with an aggregate loan book of over MMK 11 billion. MFIL focuses on lending to micro-entrepreneurs, currently offering microfinance loans of up to MMK 3 million through 8 branch offices. MFIL’s operations began in Myanmar in 2012. Yoma Bank is one of Myanmar’s largest banks with over 3,000 staff and 74 branches nationwide.
Maha Agriculture Microfinance and Yoma Bank Sign a Funding Agreement
MMK 3.5 Billion Funding from Yoma Bank Will Drive Maha Agriculture Microfinance’s Lending Activities in Myanmar
Yangon, Myanmar – April 10, 2018 – Yoma Bank and Maha Agriculture Public Co. Ltd. (“Maha Agriculture Microfinance”) jointly announced the completion of a MMK 3.5 billion (USD 2.6 million) funding agreement on April 2nd, 2018 in support of Maha Agriculture Microfinance’s lending activities in Myanmar
Mandalay Coffee Group and Yoma Bank Signed an Innovative Funding Agreement
Funding Agreement to Support Farmers in the Specialty Coffee Value Chain
Yangon, Myanmar – March 19, 2018 – Mandalay Coffee Group and Yoma Bank signed a MMK 800 million funding agreement in support of farmers in the specialty coffee value chain on March 7. This funding will enable the farmers to increase the volume and quality of specialty coffee being produced.
BRAC Myanmar and Yoma Bank Signed an Innovative Funding Agreement
2 Billion MMK Funding Agreement to Drive Economic Growth of Women and Families in Both Urban and Rural Areas
Yangon, Myanmar – March 8, 2018 – Yoma Bank and BRAC Myanmar Microfinance Company Limited (BRAC) signed a MMK 2 billion funding agreement in support of BRAC’s microfinance activities in Myanmar on 21st February. BRAC currently offers services to more than 64,000 families across the country, with an aggregate loan book of MMK 12 billion. BRAC started microfinance operations in Myanmar in 2014, to extend inclusive financial services for families living in poverty.
Explosion Incident at Yoma Bank Lashio Branch (1)
Yangon, Myanmar – Feb 22, 2018 – An explosion occurred on February twenty-first at approximately 4:47 p.m. after banking hours in our Yoma Bank Lashio branch (1) facility involving fourteen injuries and two deaths of Yoma Bank employees, who were located on the ground floor of the building.
ADB Partners with Yoma Bank to Support SMEs in Myanmar
Yoma Bank to Provide Guarantees of up to $10 Million USD to Support ADB’s TFP Program
Yangon, Myanmar – Jan 26, 2018 – The Asian Development Bank’s (ADB) Trade Finance Program (TFP) and Yoma Bank today signed an agreement to provide guarantees of at least $10 million annually to support trade, especially for small and medium-sized enterprises (SMEs), in Myanmar.
Yoma Bank and De Heus Launch Innovative Poultry Farmer Financing Plan
Yoma Bank’s Agribusiness Finance Program (AFP) Delivers Innovative Financing for Livestock Farmers
Yangon, Myanmar – Jan 22, 2018 – Yoma Bank signed its first innovative loan agreement that is set to revolutionize SME financing in the poultry sector. The purpose of the loan is to facilitate livestock farmers with working capital to buy animal feed from De Heus, a Dutch Feed Miller with factories in Yangon and Mandalay.
Yoma Bank Swept Total 7 Awards at Myanmar Employer Award (2017)
Yoma Bank Was Named Overall Best of the Best Local Myanmar Employer of the Year
Yangon, Myanmar - Dec 11, 2017 – At Myanmar Employer Award (2017) held on December 9th, powered by Jobnet.com.mm, which celebrates top industry leaders across the country for their exceptional achievements and relentless commitment to employer excellence and talent management, Yoma Bank was awarded a total of 7 awards; Two Gold “Best Learning and Development Program” and “Best Use of Internal Marketing for Company Pride”,
Yoma Bank Completes Successful Fusion Treasury Implementation with Finastra
New Front-to-Back Solution will Deliver Intuitive and Personalized Solutions for Yoma Bank’s Treasury Clients
Yangon, Myanmar – Oct 19, 2017 – On September 25th, 2017, Yoma Bank successfully implemented Fusion Treasury, powered by Opics, with Finastra. The new front-to-back Treasury solution is part of Yoma Bank's technology-led journey and its continued endeavor to deliver intuitive and personalized solutions for its treasury clients, while maintaining adequate controls, managing risks, continuing regulatory compliance, and improving efficiency.
Golden City Partners with Yoma Bank to Offer Luxury Condo Units Under 15-Year Home Loan
Attractive Financing Program Allows Buyers to Enjoy High-End Residential Units with Instalment Plans Starting from USD 1,000 Per Month
Yangon, Myanmar – Sep 29, 2017 – Golden Land Real Estate Development Co., member of ETC Singapore LTD., partners with Yoma Bank to offer a 15-year home loan program to enjoy high-end units in its Golden City exclusive project, located in the fast-developing Yankin township near Inya Lake.
FMO, In Partnership with VDB-Loi and Yoma Bank Holds A Two-Day Workshop Event in Yangon
“The Basic Guide to Foreign Legal Loan Agreements” Workshop Aims to Create a Platform for Sharing Knowledge of Myanmar Market
Yangon, Myanmar – Sep 5, 2017 – FMO, the Dutch Development Bank, in partnership with the law firm VDB-Loi, and Yoma Bank holds a two-day workshop event. “The Basic Guide to Foreign Legal Loan Agreements” workshop will take place on September 5th and 6th at Yoma Bank’s head offices in Yangon.
A Myanmar Social Enterprise, Proximity Designs and Yoma Bank Signed an Innovative Funding Agreement
7.3 billion MMK Funding Agreement to Drive Financial Inclusion of Farmers and Rural Based Entrepreneurs
Yangon, Myanmar – Sep 5, 2017 – Proximity Designs and Yoma Bank signed an innovative back-to-back funding agreement for 7.3 billion MMK. Proximity Designs runs their micro-finance business unit, Proximity Finance, currently keeping a loan book of 20.5 billion MMK and 78,000 active clients.
KBZ BANK AND YOMA BANK TAKE A LEAP FORWARD WITH THE FIRST HISTORIC REPURCHASE AGREEMENT (REPO) IN MYANMAR
Yangon, Myanmar – July 25 2017 – KBZ Bank and Yoma Bank have entered into the first repo transaction in Myanmar.
A repurchase agreement (repo) is a form of short-term borrowing for a dealer in government securities. The dealer sells the government securities to a counter-party, usually for a short term and buys it back on an agreed date. For the party selling the security, and agreeing to repurchase it in the future, it is a repo; for the party on the other end of the transaction, buying the security and agreeing to sell in the future, it is a reverse repurchase agreement.
YOMA BANK Announced a Partnership with RABOBANK to Provide Financial Solutions to Myanmar’s Agriculture Sector
Yangon, Myanmar – Jun 7, 2017 – Yoma Bank announced a two-year partnership with Rabobank with the support of the Dutch Ministry of Foreign Affairs as represented by the Dutch Embassy. The envisaged outcomes of the partnership are to improve financial inclusion particularly in rural Myanmar, and to provide financial solutions to key stakeholders in the agriculture sector.
Banking in Myanmar in the palm of your hand - Business Review Asia January 2017
Yangon, Myanmar, Jan 2017 – As emerging markets go, Myanmar is in a unique position. Just five years ago, a civilian government came to power, with the shift swiftly opening the country up to global markets and trade. This in turn presented a series of diverse challenges for the financial sector – the most pressing of which is to rapidly modernise in order to meet the needs of Myanmar’s people.
Launch of Yoma Bank’s Agribusiness Finance Program (AFP) supported by LIFT
Yangon, Myanmar, Dec 2016 – Yoma Bank’s Agribusiness Finance Program (AFP) was officially launched in Yangon on December 15. AFP has been established to improve access to finance in Myanmar's agricultural sector. The Livelihoods and Food Security Trust Fund (LIFT) has contributed USD 11 million to the financing structure for the AFP program operated by Yoma Bank.
Yoma Bank Drives “One Bank” Agenda Using Workplace by Facebook
Yangon, Myanmar, Oct 17 2016 – Myanmar’s banking sector has been characterized by limited of technology and communications infrastructure. Even today, many bank’s branches operate independently with limited connectivity to other branches that may be only a few blocks away.
Wave Money Receives the First Mobile Financial Services Regulation Registration Certificate in Myanmar
Yangon, Oct 3rd-Wave Money, a joint venture mobile money-transfer service of First Myanmar Investment (FMI), Yoma Bank, and Telenor Group, receives the first Mobile Financial Services Regulation registration certificate in Myanmar on October 3rd.
Yoma Bank Announces Chief Financial Officer
Yoma Bank today announced Vijay Maheshwari is joining Yoma Bank as its new Chief Financial Officer (CFO), effective September 1st, 2016. Prior to joining Yoma bank, Vijay has held various positions of in the Standard Chartered Bank and its publicly listed associate companies, of which the last 10 years as CFO, across India, Hong Kong, Singapore, Korea, Indonesia, Vietnam and London.
Myanmar’s Yoma Bank selects Misys for complete banking transformation
Misys Asia Market Forum, Hong Kong, Mar 17 2015 - Yoma Bank of Myanmar has selected Misys FusionBanking Essence for a complete front-to-back transformation of its core banking system. Misys, the leading financial software company is helping the bank expand its current services to launch mobile and online banking and venture into the lucrative trade finance business.
'Stay tuned' for mobile banking services from Yoma and Telenor, say CEOs
Telenor and Yoma Bank are teaming up in mobile banking, aiming to provide basic financial services for millions of unbanked people in the country.
The two prominent firms have already started working together in some areas like hiring skilled workers and selecting an IT infrastructure, though they are now waiting for clarity on the regulatory regime that will govern the service.
IFC and Yoma Bank Signing Ceremony, 16th September 2014 at MICC 2, Nay Pyi Taw
IFC, a member of the World Bank Group, has agreed to provide Yoma Bank Ltd. with a $5 million convertible loan and help the lender improve its risk management and corporate governance in support of the bank's growth strategy. The package is expected to help Yoma Bank expand lending to small and medium enterprises, a sector of Myanmar's economy in desperate need of financing to grow and create more jobs. The loan is the first step in IFC’s financial support for the bank, which may be further increased to up to $30 million in coming years.
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