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Japanese Top Three Banks Eye Burma Business

25 June 2012

Japan’s three major banks are bolstering support for Japanese companies looking to enter Burma, according to The Japan Times. In April, Bank of Tokyo-Mitsubishi UFJ, Japan’s largest bank, stationed a full-time chief in Rangoon, where it has since advised some 150 client firms. Mizuho Corporate Bank also set up a representative office in Burma’s largest city in the same month, and Sumitomo Mitsui Banking Corp. has reached an agreement with Kanbawza Bank to provide training and technical assistance. Burma’s primitive banking system is seen as a major impediment to investment.