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Yoma Bank

Yoma Bank

No. 1, Kun Chun Street, Thein Byu Mee Ya Htar Ward

Tags: Banking, Yoma Bank

Yoma Bank Limited is one of Myanmar’s (Burma) largest commercial banks. It was established by First Myanmar Investment Company (FMI) in August 1993, with its first branch in Mingala Taungnyunt Township in Yangon. Today, Yoma Bank has over 41 branches in 24 cities. Yoma Bank was among many privately owned banks affected in the 2003 banking crisis, during which consumer confidence dropped after rumours spread throughout the country about the security of savings accounts. Like most all other privately owned banks in the country, the bank was solvent and maintained a sound loan to equity ratio, but was unable to withstand the abrupt and massive withdrawal of deposits and had to resort to the Central Bank’s support.

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