Yangon, 7th November 2020 – uab bank, Myanmar’s Best Bank by Euromoney, was recognised as Best Retail Bank Myanmar 2020 by Retail Banker International at the Asia Trailblazer Summit and Awards. The award underscores the Bank’s excellent leadership standings and pioneering vision in retail banking.
The RBI Asia Trailblazer Awards, now running for the 11th consecutive year, bring together the most outstanding and innovative institutions and projects and highlight the initiatives developed in the region within the financial services community. In winning this award, uab bank standing amongst some the most renowned banks in the region.
A front- runner in retail banking innovations, uab bank has gained traction in retail banking sector with rigorous effort in promoting cashless and contactless banking vide various innovative products and platforms. uab bank’s competitive position was also supported by its continued strength in cost efficiency and asset quality.
In 2019, the bank improved further its efficiency and sustainability with an improved and efficient cost to income ratio of 50.5%, from 69.6% a year earlier. The vision of “Leading Change and Humanising Banking” is shaping uab bank’s resilient business model and growth strategy in retail banking business, focusing on retail customers, small and medium enterprises.
Commenting on the award, Christopher Loh, MD & CEO of uab bank said,
“2020 is a defining year for uab bank where we see the changes bearing fruit and being recognised internationally for our achievements. Not only did we win the “Myanmar’s Best Bank” by Euromoney for the second year in a row, we are now also named the Best Retail Bank – Myanmar 2020 by Retail Banker International (RBI) – a prestigious award that recognised our achievements alongside the big banks in the region.
Every year, we lead and pilot a wealth of new products and solutions that can make the life of our customers easier. We have invested significantly in fintech & digital, seeking to build a lifestyle eco-system with our digital solutions like SaiSai Pay, uabpay+ and strategic partnerships. In addition, we recently partnered with famous Myanmar Celebrities, Pan Yaung Chel and Paing Takhon to launch Myanmar’s iconic and first-ever Celebrity Gift Cards. We are honoured that our innovations, solutions as well as financial performance has led us to be recognised by Retail Banker International as the Best Retail Bank in Myanmar.
Countries globally are facing tremendous challenges in the current pandemic, afflicting many people and families. In this difficult time, let us come together and pray for those affected. I believe we will emerge from this stronger and closer. We will look forward to taking uab bank further with greater innovation, transparency and by leading change and humanising banking here in Myanmar.”
uab bank is a leading bank in Myanmar, recognised for its successful transformation and leadership in the Myanmar banking sector amidst the regulatory changes and governance requirements, uab bank was named “Myanmar’s Best Bank” by Euromoney, “Best Bank for Corporate Governance Myanmar” by Global Banking & Finance, “Mid-sized Domestic Retail Bank of the Year” by Asian Banking & Finance, and was ranked No. 1 in Corporate Governance Disclosure by Pwint Thit Sa (TiME) Report published by the Myanmar Centre for Responsible Business.
In August 2020, uab bank was named amongst “Best Companies to work in Myanmar- Employees Choice.”
Established in 2010, we are now serving our customers from a growing network of over 78 branches in 47 townships across Myanmar. uab provides a wide range of financial services including consumer banking, premier banking, SME banking, corporate banking, trade finance and treasury services. Through our subsidiary uab securities, we also provide brokerage services, corporate and financial advisory, investment banking and capital market activities.
At uab bank, we believe in leading the way towards a better Myanmar, humanising banking, connecting people, creating opportunities and changing lives. In December 2017, uab launched “Be The Change Myanmar” initiative that represents our commitment to driving change for a better Myanmar, specifically focusing on empowering women and children. We believe uab must operate responsibly and be committed to the community we are in.
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