Asia Green Development Bank
 | |
Native name | အာရှစိမ်းလန်းမှုဖွံ့ဖြိုးရေးဘဏ် |
|---|---|
| Industry | Financial services |
| Founded | July 2, 2010 |
| Headquarters | Yangon, Burma |
| Services | Banking |
| Total assets | 366 billion kyat (US$366 million) |
| Website |
www |
Asia Green Development Bank (Burmese: အာရှစိမ်းလန်းမှုဖွံ့ဖြိုးရေးဘဏ်; abbreviated AGD Bank) is a private commercial bank in Burma (Myanmar).[1] It was one of 4 private banks to commence operations in August 2010, the first new financial institutions in the country since the establishment of Innwa Bank in 1997.[2] Its head office is situated at Yangon, Burma. The bank announced it would become a public company when Yangon Stock Exchange is formed in 2015.[3] The bank was founded by Tay Za and the Htoo Group of Companies, whose 15% stake was sold to new shareholders, the most prominent of whom is Kyaw Ne Win, the grandson of Ne Win, the country's former dictator.[4]
Brief Info
The AGD Bank’s Head Office and first branch was successfully opened on August 6, 2010 in Nay Pyi Taw under the organization of Htoo Group of Companies. At first, AGD bank is 100% owned and operated by “Htoo Group of Companies” which is engaged in trading, energy and mining, construction, agriculture, hotel, travel and tourism business. The intentions of AGD bank is to develop the banking industry in Myanmar and provide the best quality banking services to domestic as well as foreign remittances with the rules and regulations prescribed by the Central Bank of Myanmar. In February 18, 2013 with a new slogan “We, all Myanmar will develop together”, AGD bank was converted to Public Company, shares capital stands at 30.0873 billion kyats of 601746 shares in the fiscal year.
- To open more bank branches in towns and townships where there are economic and trading prospects;
- To promote banking business, in line with advanced technologies for prompt dependable and modernized operations;
- To upgrade the bank’s human resources systematically in order to develop internal and external baking business;
- To select bright and efficient banking staffs for the bank and upgrade their capabilities
AGD bank will continue to launch programs to upgrade the skills of its banking staff. The bank holds training courses for new staff (through the Bank’s Research and Development), managers, and banking supervisors.
At current stage, the AGD bank is running with over 2000 staffs are enhancing tis services with momentum across Myanmar. Young and energetically skilled banking technicians, experienced seniors baking personal, mechanical and computer programmers, computer networking and communications experts, management, financial, marketing and human resource development experts are working together effectively across the brightness of the Bank’s future.
AGD Bank has been 51 branches across the country. With establish an International Banking Department, authorized as Dealer and Money Changer Licenses 45 foreign exchange counters services to the general public.
See also
References
- ↑ The Banker Database
- ↑ Cheesman, Nick; Monique Skidmore; Trevor Wilson (2012). Myanmar's Transition: Openings, Obstacles, and Opportunities. Institute of Southeast Asian Studies. p. 147.
- ↑ Aye Thidar Kyaw (28 January 2013). "Asia Green Development Bank planning to go public". Myanmar Times. Retrieved 8 February 2015.
- ↑ Aung Shin; Aye Thida Kyaw (21 July 2014). "Change in owners as U Tay Za said to exit AGD Bank". Myanmar Times. Retrieved 8 February 2015.