UAB (formerly known as United Amara Bank) is a

private Private or privates may refer to: Music * " In Private", by Dusty Springfield from the 1990 album ''Reputation'' * Private (band), a Denmark-based band * "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorde ...

commercial bank in

Myanmar Myanmar, ; UK pronunciations: US pronunciations incl. . Note: Wikipedia's IPA conventions require indicating /r/ even in British English although only some British English speakers pronounce r at the end of syllables. As John C. Wells, Joh ...

History

UAB 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 Innwa Bank Limited ( my, အင်းဝဘဏ်လီမိတက်) is a private commercial bank in Burma (Myanmar). Innwa Bank was founded by the Myanmar Economic Corporation (MEC) in 1997, a major conglomerate owned by serving and retired mi ...

in 1997. uab bank has a network of over 79 branches in 53 townships across Myanmar. Christopher Loh is the

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

of the bank. The bank is majority owned by Ne Aung, the son of

Aung Thaung Aung Thaung ( my, အောင်သောင်း; 1 December 1940 – 23 July 2015) was a Burmese politician and businessman. He served as a member of the country's lower house, the Pyithu Hluttaw, representing the constituency of Taungtha Towns ...

, who has been blacklisted by the

United States Treasury The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and t ...

on 31 October 2014 for his membership in the country's ruling military junta, the

State Peace and Development Council The State Peace and Development Council ( my, နိုင်ငံတော် အေးချမ်းသာယာရေး နှင့် ဖွံ့ဖြိုးရေး ကောင်စီ ; abbreviated SPDC or , ) was the offi ...

and his attempts to undermine

Burma Myanmar, ; UK pronunciations: US pronunciations incl. . Note: Wikipedia's IPA conventions require indicating /r/ even in British English although only some British English speakers pronounce r at the end of syllables. As John Wells explai ...

's economic and political reforms. In 2016, uab bank and

Asian Development Bank The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The bank also maintains 31 field office ...

signed a trade finance agreement to support businesses in Myanmar. In 2017, uab bank launched

Visa Visa most commonly refers to: *Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Visa Plus, an interbank network *Travel visa, a document that allows ...

-branded credit cards in Myanmar to cater to the demand for electronic payments in the country. uab bank and Global Star Co. Ltd. partnered with

Huawei Huawei Technologies Co., Ltd. ( ; ) is a Chinese multinational technology corporation headquartered in Shenzhen, Guangdong, China. It designs, develops, produces and sells telecommunications equipment, consumer electronics and various smar ...

to distribute solar energy products in Myanmar.

Awards and nominations

Global Banking & Finance Awards gave uab bank, ''Best Banking CEO Myanmar'' award in 2019. In 2022, uab bank was given ''Best bank in Myanmar'' award by The Euromoney Awards for Excellence.

References

External links

Official Website
{{Portal, Banks Banks of Myanmar Banks established in 2010 2010 establishments in Myanmar Entities related to Myanmar sanctions