Opening of Bank branch: SME Development Bank (Magway Branch) opened

The opening ceremony of the SME Development Bank (Magway Branch) took place on December 11th. Magway Region Chief Minister U Tint Lwin together with the ministers, departmental officials and SME entrepreneurs and invited guests attended the ceremony. First, the the new SME bank was opened by cutting ceremonial ribbons and pressing electric buttom.  

Speakingon the occasion, the Chief Minister said that collaborative efforts are being made by state own banks and private sectors, as the country is striving for the development of financial sector. SME banks established Digital Transformation in 2019 and expanding new banking services such as Debit Cards, Credit Cards and mobile banking.Arrangements are being made for promotion of SME businesses, creating job opportunities and producing value-added local products by issuing loan disbursement and selling the stocks.    

Then, the Vice-governor of SME Development Bank expressed words of thanks. It’s reported that the SME Development Bank is operating banking services starting from 15th February 1996 under the guideance the Central Bank of Myanmar and total of 26 Bankbranches were opened across the country including Magway Branch.