Hana to export banking knowhow to Myanmar

Hana Bank CEO Kim Jong-jun, sixth from left, poses with Ayeyarwady Bank Managing Director U Than Zaw, and other representatives after signing an agreement on a strategic partnership at the Korean lender’s headquarters in Myeongdong, downtown Seoul, Wednesday. / Courtesy of Hana Bank

By Yi Whan-woo

Hana Bank said Wednesday it signed an agreement with Ayeyarwady Bank in Myanmar to deliver its business know-how on international finance, private banking and other services.

Hana said Executive Chairman U Than Zaw and seven other representatives of the Yangon-based bank will learn its banking system during their current visit to Seoul until Saturday.

“We hope the strategic partnership between the two banks is enhanced from now on,” said Hana Bank CEO Kim Jong-jun during a meeting with Zaw. “And we hope to become the best Korean bank in Myanmar by providing tailored services for the locals.”

The two bank chiefs also agreed to run an employee exchange program.

Zaw and other Ayeyarwady Bank representatives visited Hana Bank’s headquarters in Myeongdong, downtown Seoul as well as its private baking and global banking centers in Seoul.

The deal between the two firms comes after Hana Bank launched its first office in Myanmar in October last year as a part of efforts to tap into new revenue resources in the rapidly-growing market.

Korea’s six major private banks including Hana have rushed to Myanmar since the quasi-civilian Myanmarese government sought economic transformation after it took power in 2011.

The company said it will also provide community services in the Southeast Asian country. The bank donated some 7,250 items of clothing and toys as well as 50 used desktop computers to locals there under a program, titled “Happy Sharing.”

“Both our employees and customers play a part in such a donation. That is because we’re interested in boosting the economy of our partner country as well as expanding overseas” the company said.