KBZ Bank Celebrates its 30th Anniversary

Yangon, Myanmar, 1 July 2024 – KBZ Bank, Myanmar’s largest private bank, commemorates its 30th anniversary on 1 July 2024, a milestone marked by the privilege of providing banking services to the people of Myanmar. For three decades, KBZ Bank has been dedicated to fulfilling its commitments which include contributing to a sustainable future and the development of communities, driving towards 100% financial inclusion for all citizens as well as actively participating in public welfare initiatives. This momentous anniversary marks a significant milestone in KBZ Bank’s journey alongside the citizens of Myanmar.

To commemorate 30 years of providing banking services in Myanmar, KBZ Bank is conducting several activities, such as the planting of 30,000 trees during the monsoon season and donating funds to 30 community associations. These activities were carried out with the participation of more than 12,000 employees nationwide. In line with KBZ Bank’s mission to contribute to community development, MMK 3 million (3,000,000 Kyats) was donated to each of the 30 organizations across the nation, to support their efforts to serve their communities. The 30 community associations include nursing homes, orphanages, associations for the handicapped, monastic schools, nunneries, hospitals, clinics, animal shelters, and nutrition programmes that feed 3,000 people from diverse communities, regardless of religion or ethnicity.

For its monsoon season tree planting programme, KBZ Bank has set a target of planting 30,000 trees across the country. This includes 5,000 trees in Yangon and lower Myanmar, 17,500 trees in Mandalay, Upper Myanmar, and Nay Pyi Taw, and 7,500 trees in the Shan-Kayah region. As part of this initiative, tree planting activities were held in Taunggyi, Heho, Yenangyaung, Chauk, Pakokku, Magway, Meiktila, Mandalay, Nay Pyi Taw, and Yangon. On 30 June 2024, KBZ Bank’s Board of Directors and chief Executive Officer, along with more than 100 bank officials and employees, actively participated in a tree planting activity held at Arseainna Thiri Voluntary Dhamma Yeik Thar located in Taikkyi Township, Yangon Region.

“As KBZ Bank celebrates its 30th anniversary, we reflected on the journey we’ve walked together. Over the past three decades, we’ve remained true to our core values of Metta, Thet Ti, and Virya, bringing positive developments to the lives of our customers. Our promise to improve the quality of life in Myanmar remains steadfast to this day. The programme to plant 30,000 trees and our support for 30 community associations are some of the activities that reflect these commitments,” said U Zaw Lin Aung, CEO of KBZ Bank.

Since 1994, when the Bank was founded, KBZ Bank has been a firm cornerstone in Myanmar’s banking sector. With more than 500 branches/KBZPay Centers nationwide, KBZ Bank has been providing banking services to 5.2 million of customers through its branch network and various digital banking services and features. At present, KBZ Bank has 1.3 million of iBanking/ mBanking customers, demonstrating the successful implementation of an inclusive banking system for the people of Myanmar.

With the aim of improving the quality of life in Myanmar through banking, KBZ Bank offers a variety of banking services to fulfill the needs of citizens. For example, the KBZ Bank home loan programme has helped make the dream of home ownership a reality for thousands of families. In addition, KBZ Bank is committed to improving the quality of life for customers by providing solutions tailored to educational, health, and individual financial needs, alongside a comprehensive range of banking services.

KBZ Bank plays a crucial role in the development of both individual customers and small and medium-sized enterprises, trading businesses, and other business enterprises. KBZ Bank provides the financial support, and advisory services needed for small and medium-sized enterprises locally and regionally, thereby contributing significantly to their growth and success.

Over its 30-year journey, KBZ Bank has supported regional businesses and communities as they faced challenges, including the challenges brought about by the COVID-19 pandemic. Through it all, the bank has proudly supported regional businesses and communities. By offering flexible loan programmes and financial relief measures, KBZ Bank helped them remain resilient and sustain operations during those difficult times.

In line with KBZ Bank’s ambition of 100% financial inclusion to support Myanmar’s development needs, KBZ Bank introduced KBZPay in 2018. There are currently more than 16 million KBZPay users who manage their money, store cash, remit to loved ones, and conduct daily financial tasks with a smartphone using KBZPay. Additionally, KBZPay has leveraged its digital ecosystem, incorporating new mini-app features, including E-commerce (KBZPay Market) for convenient shopping, Teleconsultation Service (My Medicine) for easy access to healthcare, and News and Entertainment (official accounts, chat, and games) for a more engaging user experience.

“Our bank was established in 1994, shortly after private bank licenses were issued in 1992 and banks began opening. It can be said that Myanmar was introduced to the traditional banking system at that time. Today, according to World Bank’s data, nearly 50% of people utilize banking services including mobile wallets, showcasing the significant advancement in Myanmar’s financial sector. In addition to traditional banking services, digital banking has also made remarkable progress, further marking a period of great positive growth for the country. As a result of our efforts to integrate the unbanked population into the banking system, KBZ Bank now provides services to 40 percent of all banking customers nationwide. This clearly demonstrates KBZ Bank’s contribution to the growth of Myanmar’s financial sector. Furthermore, KBZ Bank offers comprehensive banking services to small and medium-sized enterprises (SMEs) and innovative businesses, which are the lifeblood of the country’s economy. Moving forward, we will continue striving for the improvement of every citizen and business,” added U Zaw Lin Aung, CEO of KBZ Bank.

KBZ Bank remains committed to delivering creative and innovative banking solutions, exceptional customer service, and social development, all while fostering Myanmar’s banking sector growth and achieving a fully inclusive financial system for the nation.

KBZ Bank officials and employees planting trees together in Heho Township, Shan State.

KBZ Bank officials and employees planting trees together in the Mandalay Region.

KBZ Bank officials and employees planting trees together in Nay Pyi Taw.

KBZ Bank officials and employees planting trees together in Pakokku Township, Magway Region.

KBZ Bank officials and employees planting trees together in Taunggyi Township, Shan State.

KBZ Bank officials and employees planting trees together in Taikkyi Township, Yangon Region.

KIX PHOTOGRAPHY(C)

U Zaw Lin Aung, CEO of KBZ Bank planting trees in Taikkyi Township, Yangon Region.

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KBZ Bank officials and employees participated in a donation and tree planting activity at Arseainna Thiri Voluntary Dhamma Yeik Tha in Taikkyi Township, Yangon Region.

KIX PHOTOGRAPHY(C)
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