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KBZ Bank: A new generation of banking

For over two decades, KBZ Bank has been part of Myanmar’s growth story, working tirelessly to strengthen communities and institutions for the long term and to improve the quality of life for all. 

As Myanmar’s largest privately-owned bank, we represent nearly 40 percent of both retail and commercial banking in the country, driving the success of the nation’s entrepreneurs, businesses and communities.

Today, KBZ Bank is helping to fast-track Myanmar’s development in the digital age, embracing next-generation banking.

We have seized the advantages of mobile-first technology in promoting financial inclusion and connecting our customers to the people, opportunities and places that they value most. Through KBZPay, Myanmar’s fastest-growing mobile wallet, we have brought banking beyond our 500 branches and to even more communities.

We are also transforming from the inside out, drawing on the latest technologies to work more efficiently and serve our customers better, while developing the bankers and leaders of the future.

The future of Myanmar will be built on the strength of its key institutions and KBZ Bank is leading the way.

Name: Kanbawza Bank Limited (“KBZ Bank”)
License Issued on:7th June1994
Founders:U Khin Maung, U Maung Maung Myaing, U San Lin, U Tin Shwe, U Ohn Maung, and Daw Hla Hnin Khine
Current Shareholders:KBZ Bank is privately owned by the following shareholders. Apart from the shareholders listed below, the directors and senior management have 0% of shareholding interest in the bank.
U Aung Ko Win, Daw Nan Than Htwe, Daw Nang Lang Kham, Daw Nang Kham Noung, Daw Nang Mo Hom
Transfer of Shares:1996 to 1999
Registered Address:615/1, Pyay Road, Kamayut Township, Yangon, Myanmar
Board of Directors:Chairman: U Mya Than
Vice Chair: Daw Nan Than Htwe
Vice Chair: U Maung Maung 
Vice Chair (Exec) : U Aung Kyaw Myo
Independent Director: U San Thein 
Independent Director: U Kyaw Min Htun
External Auditors:JF Group
Board Level Committees:Board Credit Committee (BCC)
Board Audit and Risk Committee (BARC)
Board Nomination and Remuneration Committee (BNRC)

Management Level Committees

Management Credit Committee

1. Chief Executive Officer

2. Chief Risk Officer

3. Managing Director, Wholesale Banking

4. Head of Collection and Recovery

5. Head of Credit (Corporate)

6. Head of Retail Risk

Assets and Liability Committee (ALCO)

1. Chief Executive Officer 

2. Deputy Chief Executive Officer 

3. Chief Risk Officer 

4. Chief Financial Officer 

5. Managing Director of Wholesale Banking

6. Value Center General Manager of Smart Treasury 

7. Value Center General Manager of Deposit Wealth Value Center

Fraud Committee

1. Chief Risk Officer

2. Managing Director of Digital Professional Services

3. Chief People Officer

4. Head of Legal and Compliance

5. Chief Audit Executive

Social Purpose and Impact Partnership Committee (SPIPC)

1. Risk Management

2. Legal & Compliance

3. Marketing Communications  

4. ESG and Social Impact

5. International Consultant

Our Journey

KBZ Bank’s Timeline

1994

■ KBZ Bank was founded by U U Khin Maung, U Maung Maung Myaing, U Tin Shwe, U San Lin of EYE Group, and Daw Hla Hnin Khine, in Taunggyi, the capital of Shan State, Myanmar 
■ U U Khin Maung, a Director of EYE Group was appointed as the Managing Director of KBZ Bank. U U Khin Maung is a retired Head of Physics Department from Taunggyi University
■ KBZ Bank opens its 1st Branch in Taunggyi, Shan State

1997

■ U Aung Ko Win and Daw Nan Than Htwe begin purchasing partial shares from EYE Group.

■ U Maung Maung Myaing becomes Chairman of KBZ Bank

2000

■ U Aung Ko Win and Daw Nan Than Htwe buy 100% shares in KBZ Bank to gain full ownership of the Bank, which now becomes a family-run business

■ U Aung Ko Win is appointed Chairman

■ KBZ Bank’s headquarters is relocated to Yangon, Myanmar’s commercial center and opens its first branch outside Taunggyi, Shan State, at Mingalar Zay, Yangon 

1996

■ U Aung Ko Win and Daw Nan Than Htwe, former teachers in Shan State who had become entrepreneurs in textiles and food trading, were approached with an offer to buy a majority stake in the single KBZ branch  

1999

■ The Central Bank of Myanmar (CBM) grants approval for the opening of KBZ Bank’s 2nd Branch 

■ A new Managing Director is appointed.

2001 and Beyond

■ KBZ Bank’s new Chairman leads the execution of the “500 Branches across the Country by 2020” strategy, focusing on expanding the bank’s branch network to bring financial services to 14 States and Divisions of Myanmar. 

2008

■ KBZ Bank contributes to relief and resettlement efforts for Cyclone Nargis victims across the country

2009

■ U Aung Ko Win’s eldest daughters Nang Lang Kham and Nang Kham Noung are officially appointed Directors of KBZ Bank

2011

■ KBZ is granted an Authorised Dealer License by the Central Bank of Myanmar to conduct foreign exchange/foreign banking-related operations in the country

■ KBZ Bank ranked as the highest income tax payer for FY 10-11

2015

■ KBZ Bank is selected from six local private banks as the settlement bank for the new Yangon Stock Exchange due to the strength of its network and digital capabilities

■ KBZ Bank now has 320 branches and more than 13,000 employees

■ KBZ Bank joins the UN Global Compact Network, which promotes sustainability principles in support of the UN’s sustainable development goals

■ KBZ Bank is ranked as the highest income tax payer – Myanmar Company for FY 14-15

2016

■ KBZ Bank teams up with Singapore-based philanthropic group Smile Asia Alliance to lead the Smile Asia Medical Mission, a nationwide initiative to provide free cleft lip and palate operations for children and adults. This is done with the support of Myanmar’s Ministry of Health and Sports

■ KBZ Bank is ranked as the highest income taxpayer – Myanmar Company for FY 15-16

2018

■ U Mya Than is appointed as Independent Chairman of KBZ Bank.

■ Real-time e-wallet platform KBZPay is launched with the aim of helping Myanmar achieve 100% financial inclusion by bringing financial control and management to the entire adult population

■ KBZ Bank launches a multi-year Target Operating Model (TOM), with over 960 business recommendations, to accelerate its journey towards better discipline, governance and capability. The TOMs are consulted and reviewed by EY, Mckinsey, Octagon, PwC, Econsultancy, AON and Carrots, etc. 

■ KBZ provides scholarships to 100 freshmen from the National Management Degree College that will see them through to graduation

■ KBZ Bank clinches Asia Money’s Best Bank for CSR Award for its Smile Asia Medical Mission

■ KBZ Bank receives the President’s Honorary Award and certificates of honor for outstanding performance in tax payments awarded by the president U Htin Kyaw for being the highest income taxpayer for FY 16-17

■ KBZ Bank is ranked as the 7th highest income taxpayer – Myanmar Company for FY 17-18

2012

■ KBZ Bank appoints U Aung Kyaw Myo as Managing Director

■ KBZ Bank also appoints its first female Deputy Managing Director

■ KBZ Bank achieves two major firsts for Myanmar: opening the country’s first ATM and issuing the first bank debit card

■ KBZ Bank ranked as the highest income tax payer for FY 11-12

2013

■ KBZ Bank opens its 100th branch in Tachileik, Shan State

■ KBZ Bank is ranked as the highest income tax payer – Myanmar Company for FY 12-13

2014

■ KBZ Bank opens its 200th branch in Yangon at Bogyoke Market

■ KBZ Bank is now established in all the states and regions of Myanmar 

■ The Bank issues its first prepaid Visa/Mastercard

■ KBZ Bank wins the Most Admired ASEAN Enterprises Award for Myanmar (Corporate Excellence category) at the ASEAN Business Awards

■ KBZ Bank is second runner-up for the Most Admired ASEAN Enterprises Award for ASEAN (Corporate Excellence category) at the ASEAN Business Awards

■ KBZ Bank is ranked as the highest income tax payer – Myanmar Company for FY 13-14

■ KBZ Bank receives the “Excellent Performance Award for Tax Payment” from President U Thein Sein. The award is bestowed by the Internal Revenue Department to the top tax payers for FY13-14. 

2017

■ U Aung Ko Win retires and assumes the honorary title of “Chairman Emeritus” of KBZ Bank and relinquishes all management responsibilities
■ Mike DeNoma joins KBZ Bank as CEO and Advisor to Chairman Emeritus
■ Daughters Daw Nang Lang Kham and Daw Nang Kham Noung step in as the next generation of leadership at KBZ Bank 
■ U Aung Kyaw Myo, Nang Lang Kham and Nang Kham Noung are officially appointed as Deputy CEOs 
■ KBZ Bank becomes Myanmar’s most internationally awarded bank
■ KBZ Bank hits a new milestone: 500 branches, 18,000 employees and 1079 ATMs
■ KBZ Bank embarks on a new journey of change, seeking to find its place among global banking leaders and to support Myanmar entry to the global stage. 
■ Strategic changes include the appointment of a board of independent directors, and the conceptualisation of digital banking services
■ Launches new vision, mission, purpose and values
* Vision – To Become The Best Managed Bank in The World
* Mission – 100% Financial Inclusion in Myanmar
* Purpose – To Improve the Quality of Life in Myanmar through Banking
* Values – Thet-Ti, Metta, Virya 
■ KBZ Bank ranked as the highest income tax payer – Myanmar Company for FY 16-17, marking 7th year of highest tax payer in a row

2019

■ KBZPay brings on board some 230,000 agents and merchants by September 2019, and signs up 4 million customers by December 2019. Transactions on the platform for the year exceed US$3.3 billion

■ KBZ Bank receives its EDGE (Economic Dividends for Gender Equality) certification, the leading global assessment and certification standard for gender equality, introduced by the World Economic Forum in 2011

■ KBZ Bank opens four new branches in the Yangon and Bago regions, and in Kachin State

■ KBZ Bank restructures by launching the Social Purpose and Impact Partnership (SPIP) committee to transform the way it conducts its Corporate Social Responsibility (CSR) activities. The aim is to ensure that levels of professionalism and transparency are in line with international standards

■ The bank is honored for paying the highest amount of income tax for seven consecutive years, from FY 2010-11 to FY 2016-17. The Bank is also honored by being presented the President’s Honorary Award by President U Win Myint in recognition of our contributions as a responsible business

■ KBZ Bank is ranked as the highest income taxpayer – Banking and Financial Institution for Financial Period April 2018-September 2018.

2020

■ In February, KBZPay achieves the onboarding of a total of 285,000 agents and merchants. More than half of its 5 million customers are outside the Yangon and Mandalay regions and Shan State, and had little or no previous access to banking. The mobile platform facilitates 300,000 daily transactions on average, and monthly transactions exceed US$11 million. The total number of transactions on the platform exceeds 100 million
■ KBZ Bank contributes more than MMK 4.8 billion worth of financial and in-kind donations to COVID-19 relief efforts through the SPIP Committee. 
■ AMCHAM CSR Excellence (ACE) Awards — SPIP Committee Formation
■ Asiamoney Banking Awards — Best CSR Bank Myanmar
■ Pwint Thit Sa (Transparency in Myanmar Enterprises assessment by MCRB): Top 3 Bank and Top 2 for Corporate Governance disclosure

2021

■ In January, 2021, the President of Myanmar, U Win Myint, awards KBZ Bank’s Chairman Emeritus U Aung Ko Win the country’s highest Medal of Honor and Title “Tharay Sithu” in the category of “Pyidaungsu Sithu Thingaha”. The award was given in recognition of his contributions to the nation, including being the highest income taxpayer for eight years in a row, and for donations for social development and disaster reliefs. It is the first time in history a businessman has received the Thayay Sithu Medal
■ A new Independent Director – U Kyaw Min Htun joins the board of KBZ Bank 
■ 76% of KBZ Bank’s 960+ Target Operating Model recommendations implemented 
■ ABF Retail Banking Awards
*COVID Management Initiative of the year – Myanmar
*New Consumer Lending Product of the year – Myanmar
■ The Asian Banker 500 – Strongest Bank in Myanmar by Balance Sheet
■ World Business Outlook Awards 
*Best CSR Bank Myanmar
*Best Gender Equality Index Practices in Banking Sector Myanmar 2021
*Financial Inclusion Initiative of the Year Myanmar 2021
*Rising Star in Corporate Governance (Banking sector) Myanmar 2021
*Most Innovative Mobile Wallet Myanmar 2021 (KBZPay)

■ International Investors Awards 2021- Best in Digital Transformation – Myanmar 2021
■ Pan Finance Award Winner 2021

*Excellence in Financial Inclusion – Myanmar 2021
*Best Mobile Wallet App – KBZ Pay – Myanmar 2021
*The Bizz Awards 2021 – Myanmar 

BANK OWNERSHIP

KBZ Bank is an independent entity that has never been under a holding company structure. While there are other entities in Myanmar bearing the KBZ brand, KBZ Bank is not owned by any other holding company, including the KBZ Group. 

KBZ Bank is a signatory of Statement by Concerned Businesses Operating in Myanmar.

KBZ Bank 2021 Snapshot

KBZ Bank strives to be the bank that Myanmar needs, whether by promoting financial inclusion through KBZPay and its 350,000 merchant and agent network, or by ensuring our 500 branches remain accessible, our tellers approachable and our financials strong. That is why we have consistently been recognised as Myanmar’s most progressive and innovative bank.

Inclusion

a) Percentage of leaders who are female = 64%
b) Percentage of employees who are female = 56%



Operation

a) Number of years in operation = 28 years
b) Number of Branches /ATMs the bank has in Myanmar
= 500 branches, 1355 ATMs.
c) No. of KBZ Bank customers = 5.2 million
d) No. of KBZPay customers =10 million
e) KBZPay total transaction amount as of Dec 2021 = 53 trillion MMK

Performance


a) Customer Satisfaction Score: KBZ Bank Customer Service NPS = 57%
b) Top of Mind awareness* = 100%
c) Total Unaided awareness* = 79%
* Markov TOMA data in Jan 2022

*Updated as of March 2020

KBZ Bank Awards

World Business Outlook Award

Best Bank in Myanmar 2023

Global Business Magazine Award

 Best Digital Wallet Myanmar 2023

International Finance Awards

Best Mobile Banking App – Myanmar 2023
Best Cash Management Bank – Myanmar 2023

Asian Banking & Finance Award

Domestic Retail Bank of the Year 2023
Core Banking System Initiative of the Year – Myanmar

The Global Economic Award

Best Commercial Bank in Myanmar 2023
Best Digital Transformation in Myanmar 2023

World Economic Magazine Award

Best Digital Bank in Myanmar 2023
Best SME Bank in Myanmar 2023
Best Bank for Women Entrepreneurs in Myanmar 2023

Global Business Outlook Award

Best CSR Initiative through Innovation and Partnership (Banking) – MOCHA Cyclone Relief – Myanmar 2023

ESG Business Award 2023

Gender Equality & Women Empowerment Award – Myanmar

KBZ Bank Recognitions and Commitments

Pwint Thit Sa / Transparency in Myanmar Enterprises (TiME) assessment

7th place for two consecutive years (in 2020 and 2022)

GEARS – Gender Equality Assessment
Results and Strategies

A regional-level assessment developed to address the workplace gender equality  requirements of businesses in the Southeast Asian region

The Valuable 500

Working toward disability inclusion at the workplace as part of The Valuable 500’s global campaign