Asia Green Development Bank

Asia Green Development Bank (AGD)
Native name
 အာရှစိမ်းလန်းမှုဖွံ့ဖြိုးရေးဘဏ်
Industry Financial services
Founded July 2, 2010 (2010-07-02)
Headquarters Yangon, Burma
Services Banking
Total assets 366 billion kyat (US$366 million)
Website www.agdbank.com

Asia Green Development Bank (Burmese: အာရှစိမ်းလန်းမှုဖွံ့ဖြိုးရေးဘဏ်; abbreviated AGD Bank) is a private commercial bank in Burma (Myanmar).[1] It was one of 4 private banks to commence operations in August 2010, the first new financial institutions in the country since the establishment of Innwa Bank in 1997.[2] Its head office is situated at Yangon, Burma. The bank announced it would become a public company when Yangon Stock Exchange is formed in 2015.[3] The bank was founded by Tay Za and the Htoo Group of Companies, whose 15% stake was sold to new shareholders, the most prominent of whom is Kyaw Ne Win, the grandson of Ne Win, the country's former dictator.[4]

Brief Info

The AGD Bank’s Head Office and first branch was successfully opened on August 6, 2010 in Nay Pyi Taw under the organization of Htoo Group of Companies. At first, AGD bank is 100% owned and operated by “Htoo Group of Companies” which is engaged in trading, energy and mining, construction, agriculture, hotel, travel and tourism business. In February 18, 2013 with a new slogan “We, all Myanmar will develop together”, AGD bank was converted to Public Company, shares capital stands at 30.0873 billion kyats of 601746 shares in the fiscal year.

AGD Bank has been 70 branches across the country until September 2017. With establish an International Banking Department, authorized as Dealer and Money Changer Licenses 65 foreign exchange counters services to the general public.

See also

References

  1. ↑ The Banker Database
  2. ↑ Cheesman, Nick; Monique Skidmore; Trevor Wilson (2012). Myanmar's Transition: Openings, Obstacles, and Opportunities. Institute of Southeast Asian Studies. p. 147.
  3. ↑ Aye Thidar Kyaw (28 January 2013). "Asia Green Development Bank planning to go public". Myanmar Times. Retrieved 8 February 2015.
  4. ↑ Aung Shin; Aye Thida Kyaw (21 July 2014). "Change in owners as U Tay Za said to exit AGD Bank". Myanmar Times. Retrieved 8 February 2015.
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