SCB Establishes a Subsidiary Bank in Myanmar to Carry Out Banking Business

The Siam Commercial Bank Public Company Limited (SCB) is announced that the bank has registered a company under the law of the Republic of the Union of Myanmar under the name Siam Commercial Bank Myanmar Limited (SCBM).

 

SCB will hold 100% of SCBM’s total issued and paid-up capital. SCBM has a registered capital of USD 150 million and its business objective is to carry out banking business in Myanmar. SCBM shall be treated as one of the companies in SCB Financial Group Company.

SCBM is under process of operational establishment for the inspection prior to being granted Final Subsidiary License from the Central Bank of Myanmar. Subsequently, its operations in the Republic of the Union of Myanmar shall commence.