SCB re-opens representative office in Myanmar
YANGON – Standard Chartered Bank has officially re-opened its representative office in Yangon. The move establishes it as the only major international bank with a presence in all 10 Association of South East Asian Nations (Asean) markets.
Standard Chartered believes that financial institutions can play a key role in helping Myanmar re-integrate into the global business community by acting as a catalyst for trade and providing technical assistance to support the country’s efforts in developing a strong and vibrant financial sector.
Peter Sands, Standard Chartered Bank’s Group Chief Executive said “The growth of local economies in South East Asia is driving trade and economic success across the region. We believe our presence here will help our global network of Wholesale Banking clients to tap into these opportunities, and contribute to Myanmar’s efforts to grow in a sustainable manner.”
The bank has had a history of over 150 years with Myanmar. Its history extends back to 1862 when the Bank opened its first branch in Yangon (formerly known as Rangoon). That operation was nationalised in 1963. It also operated a representative office in Myanmar from 1995-2004.
Standard Chartered has the broadest range of wholesale banking and consumer banking products and services in South East Asia, and through its network of 1,700 offices in 70 markets and long relationship with Myanmar, Standard Chartered will be able to assist its international clients to more readily access opportunities in the country.