Yangon, 21st December 2020 – uab bank is delighted to announce that it was ranked 1st at the 2020 Pwint Thit Sa Report released by Myanmar Centre for Responsible Business.
The Pwint Thit Sa (Transparency in Myanmar Enterprises) Report is an annual initiative which reviews the corporate disclosure of companies in Myanmar and covers areas of corporate profile, corporate governance, sustainability management and reporting. The Report now in its 6th year, is considered the benchmark for corporate governance and sustainability reporting standards in Myanmar. The 2020 Report released by Myanmar Centre for Responsible Business was produced in partnership with consulting firm Yever.
U Ne Aung, Chairman of the Board of Directors commenting on the announcement said,
“Being ranked No. 1 in the 2020 Pwint Thit Sa Report is a remarkable achievement and gives us the distinction of being the most transparent large company and bank in Myanmar. The Board and the Management have worked hard to ensure that sound corporate governance and sustainable management is a top priority at uab bank. We believe this creates value for our stakeholders and significantly reduces risk in the long term.”
Further elaborating, Christopher Loh, uab bank’s CEO said,
“When we started this journey of change in 2017, we promised to build a bank that is premised on sound principles and good governance. We are constantly mindful that a well governed bank ensures the safety of our depositors and the wellbeing of the community that we serve. We are very pleased to see our commitment and efforts being recognised in the 2020 Pwint Thit Sa Report.
In addition to being recognised as “Myanmar’s Best Bank” by Euromoney for 2 consecutive years in 2019 and 2020, this 1st place achievement in 2020 Pwint Thit Sa Report underscores the progress of uab bank in Leading Change towards a better Myanmar.”
uab bank has benchmarked itself against the ASEAN Corporate Governance Scorecard and progressed substantially on sustainability with the adoption of international standards such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and the United Nations Sustainable Development Goals.
“This on-going awareness for governance and sustainability is a growing effort across the whole Bank covering our employees, Management and Board of Directors. Each year, we continue to rise above the challenges, growing from strength to strength in building a strong bank recognised not only nationally but internationally for the standards it maintains.” added George Koshy, uab bank’s sustainability officer.
uab bank thanks Myanmar Centre for Responsible Business and Yever for their role is supporting and promoting good corporate governance and sustainability 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 over 2019 and 2020 and “Best Retail Bank Myanmar 2020” by Retail Banker International.
In August 2020, uab bank was named amongst “Best Companies to work in Myanmar- Employees Choice” and in December 2020 was named 1st in corporate rankings of 2020 Pwint Thit Sa (TiME) Report published by Myanmar Centre for Responsible Business.
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.