Myanma Apex Bank

Myanma Apex Bank (MAB)
Native name
မြန်မာ့ရှေ့ဆောင်ဘဏ်
Company typePrivate
IndustryBank
FoundedJuly 2, 2010 (2010-07-02)
HeadquartersOttarathiri Township,
Nay Pyi Taw
,
Myanmar (Burma)
Total assetsKs.529 billion[1] (2012-13)
OwnerChit Khine
Websitewww.mabbank.com

Myanma Apex Bank (Burmese: မြန်မာ့ရှေ့ဆောင်ဘဏ်; abbreviated MAB) is a private commercial bank in Myanmar.

Myanma Apex Bank Ltd (MAB) was incorporated on 2 July 2010, established as a subsidiary of Eden Group of Companies., and opened its first branch office in Naypyitaw on 17 August 2010. Among the more than 20 banks in Myanmar, MAB is considered to be among the top 4 banks.[citation needed] As of early 2020, MAB had 102 branches nationwide.[2][3]

Financial services

MAB offers a variety of financial services, such as consumer deposit offerings, ATM, POS acceptance network using Myanmar Payment Union (MPU), VISA and MasterCard cards, commercial financing for small and medium businesses with loans, overdraft and hire purchases options, cross-border trade, as well as providing businesses with foreign trade finance, gift cheques, payment orders, remittance and other ancillary services.[4] MAB has launched a wealth banking and rewards program called MAB Wealth Banking in order to support the growing number of high net worth customers in Myanmar.[5][6][7]

Global partnerships

Myanma Apex Bank (MAB) has established local and international partnerships with organizations including:[8][9][10][11][12]

Awards and CSR activities

MAB was recognised as one of the top 500 income taxpayers for the 2012-2013 financial year.[13] In celebration of its 10th anniversary, Myanma Apex Bank (MAB) made a donation towards the salaries of teachers at monastic schools in Yangon to provide for improved education through their corporate social responsibility program, “Better Giving”.[14] MAB also organized “The MAB Sayaungchel Run 2020” as a part of its 10th Anniversary Celebration.[15] The MAB ဆေးရောင်ခြယ် Run is an untimed race that is suitable for everyone of any athletic background. All revenue from the sale of event tickets were donated, with Ks.18.5 million contributed towards the development of the Myanmar education sector and Ks.100 million towards urban development in Mandalay.[15]

References

  1. ^ "The Myanmar Times Bank Survey 2014". Myanmar Times. 15 July 2014. Retrieved 8 February 2015.
  2. ^ APOLLO. "MAB Banking".
  3. ^ Bank, Myanmar Apex. "Branches".
  4. ^ Bank, Myanmar Apex. "Banking Services".
  5. ^ "Myanmar Apex Bank rolls out new wealth management programme". Private Banker International. 2019-01-03. Retrieved 2021-09-30.
  6. ^ "MAB launches wealth banking service as competition rises". The Myanmar Times. 2019-01-02. Retrieved 2021-09-30.
  7. ^ Wealth Banking, MAB GOLD. "MAB GOLD Card Description".
  8. ^ "Myanma Apex Bank and VAT IT | Strategic Partnership". vatit.com. Retrieved 2021-10-04.
  9. ^ "MasterCard partners Myanma Apex Bank to launch prepaid card in Myanmar". Cards International. 2015-07-23. Retrieved 2021-10-04.
  10. ^ "MAB Bank Partners with UnionPay International to Launch First MPU UnionPay Co-Branded Platinum Debit Card in Myanmar - PR Newswire APAC". en.prnasia.com. Retrieved 2021-10-04.
  11. ^ "Western Union Launches Partnership with Burmese Banks". The Irrawaddy. 2013-01-14. Retrieved 2021-10-04.
  12. ^ "Visa opens Myanmar office and appoints Hiro Taylor as Country Manager | Visa". myanmar.visa.com. Retrieved 2021-10-04.
  13. ^ "Celebrating top taxpayers". The Myanmar Times. 2014-07-15. Retrieved 2021-10-04.
  14. ^ Bank, Myanma Apex. "MYANMA APEX BANK TO CELEBRATE 10TH ANNIVERSARY WITH DONATIONS TO EDUCATION".
  15. ^ a b "Over 7,800 people participate in MAB Run 2020 in Mandalay". MDN - Myanmar DigitalNews. Retrieved 2021-10-04.