{"id":18417,"date":"2020-06-18T21:20:50","date_gmt":"2020-06-18T14:50:50","guid":{"rendered":"http:\/\/www.uabdev.com.mm\/?p=18417"},"modified":"2022-03-18T11:34:56","modified_gmt":"2022-03-18T05:04:56","slug":"uab-bank-net-profit-jumped-97-5-to-a-record-mmk-14630-million-for-fy2019","status":"publish","type":"post","link":"https:\/\/uab.com.mm\/mm\/uab-bank-net-profit-jumped-97-5-to-a-record-mmk-14630-million-for-fy2019\/","title":{"rendered":"uab bank net profit jumped 97.5% to a record MMK 14,630 million for FY2019"},"content":{"rendered":"
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Update News<\/strong><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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uab bank net profit jumped 97.5% to a record MMK 14,630 million for FY2019<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Yangon, 30 April 2020 \u2013 uab bank<\/b>\u00a0reported\u00a0a record\u00a0<\/b>group\u00a0net profit after tax<\/b>\u00a0of\u00a0MMK 14<\/b>,630<\/b>\u00a0<\/b>million<\/b>\u00a0for the year ended 30 September 2019,\u00a0soaring\u00a097.5%\u00a0<\/b>from the previous year .\u00a0Return on equity\u00a0(ROE) jumped\u00a0to 19.0%<\/b>\u00a0from 12.3% the year before, and cost to income ratio improved from 69.6% to 50.5%.<\/span><\/p>

Total income for the year grew 34.3% to MMK 48,739\u00a0million\u00a0led by a broad-based growth of our loan portfolio, more effective balance sheet management and prudent cost management.<\/span><\/p>

uab bank\u2019s\u00a0<\/b>MD &\u00a0CEO Christopher Loh\u00a0commented:\u00a0<\/b><\/span><\/p>

\u201c2019 is a defining year for\u00a0uab \u1018\u100f\u103a\u1021\u1014\u1031\u1016\u103c\u1004\u1037\u103a<\/b>. We were named\u00a0Myanmar\u2019s Best Bank by Euromoney<\/b>,\u00a0ranked 1st<\/sup>\u00a0in Corporate Governance Disclosure and Transparency<\/b>\u00a0amongst Myanmar banks\u00a0in the Pwint Thit Sa (TiME) Report by\u00a0Myanmar Centre for Responsible Business (MCRB)\u00a0and relocated\u00a0to a world-class and award winning new head office \u2013\u00a0uab Tower @ Times City<\/b>.<\/span><\/p>

We\u00a0continued to demonstrate leadership in the corporate governance and sustainability space with the publication of our\u00a0Annual Report 2019\u00a0<\/b>with full disclosures, the second year in a row and\u00a0the\u00a0<\/b>only bank in Myanmar to do so. This\u00a0is\u00a0our commitment towards good governance and public disclosure, providing our stakeholders and the public\u00a0with\u00a0greater assurance of our financial strength.<\/span><\/p>

This year we delve deeper in the sustainability space with the adoption of Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) for our reporting to align more with international standards on environmental, social and governance (ESG). This is in addition to partnering with Worldwide Fund for Nature (WWF) to develop an ESG Policy for the banking sector in Myanmar.<\/span><\/p>

2020 will no doubt be another challenging year, however I believe that with the foundation we have laid and the call to rise above, uabians will be able to emerge victorious once again. I look forward to another exciting year in leading change and humanising banking with all uabians, and in leading uab to become the\u00a0best bank and\u00a0<\/b>best\u00a0brand in Myanmar.\u201d<\/b><\/span><\/p>

#leadingchange<\/b> #humanisingbanking<\/b><\/span><\/p>

About<\/b>\u00a0<\/b>uab \u1018\u100f\u103a\u1021\u1014\u1031\u1016\u103c\u1004\u1037\u103a<\/b><\/span><\/p>

uab \u1018\u100f\u103a\u1021\u1014\u1031\u1016\u103c\u1004\u1037\u103a<\/b>\u00a0is a leading bank in Myanmar, recognised for its successful transformation and leadership in the Myanmar banking sector amidst the regulatory changes and governance requirements,\u00a0uab \u1018\u100f\u103a\u1021\u1014\u1031\u1016\u103c\u1004\u1037\u103a<\/b>\u00a0was named\u00a0\u201cMyanmar\u2019s Best Bank\u201d<\/b>\u00a0by Euromoney,\u00a0\u201cBest Bank for Corporate Governance Myanmar\u201d<\/b>\u00a0by Global Banking & Finance,\u00a0\u201cMid-sized Domestic Retail Bank of the Year\u201d<\/b>\u00a0by Asian Banking &\u00a0Finance, and was ranked No. 1 in\u00a0Corporate Governance Disclosure<\/b>\u00a0by Pwint Thit Sa (TiME) Report published by the Myanmar Centre for Responsible Business.<\/span><\/p>

\u1042\u1040\u1041\u1040 \u1001\u102f\u1014\u103e\u1005\u103a\u1010\u103d\u1004\u103a \u1005\u1010\u1004\u103a\u1010\u100a\u103a\u1011\u1031\u102c\u1004\u103a\u1001\u1032\u1037\u1015\u103c\u102e\u1038 \u101a\u1001\u102f\u1021\u1001\u102b\u1010\u103d\u1004\u103a \u1019\u103c\u1014\u103a\u1019\u102c\u1014\u102d\u102f\u1004\u103a\u1004\u1036\u1021\u1010\u103d\u1004\u103a\u1038\u101b\u103e\u102d \u1019\u103c\u102d\u102f\u1037\u1014\u101a\u103a\u1015\u1031\u102b\u1004\u103a\u1038 \u1044\u1047 \u1019\u103c\u102d\u102f\u1037\u1014\u101a\u103a\u1010\u103d\u1004\u103a \u1018\u100f\u103a\u1001\u103d\u1032\u1015\u1031\u102b\u1004\u103a\u1038 \u1047\u1048 \u1018\u100f\u103a\u1011\u102d \u1010\u102d\u102f\u1038\u1001\u103b\u1032\u1037\u104d customer \u1019\u103b\u102c\u1038 \u104f \u101c\u102d\u102f\u1021\u1015\u103a\u1001\u103b\u1000\u103a\u1014\u1032\u1037\u1021\u100a\u102e Consumer Banking\u104a Premier Banking\u104a SME Banking\u104a Corporate Banking\u104a Trade Finance \u1014\u103e\u1004\u1037\u103a Treasury Services \u1005\u101e\u100a\u1037\u103a \u1021\u1013\u102d\u1000\u1000\u103b\u101e\u1031\u102c \u1018\u100f\u103a\u101c\u102f\u1015\u103a\u1004\u1014\u103a\u1038 \u101d\u1014\u103a\u1006\u1031\u102c\u1004\u103a\u1019\u103e\u102f\u1019\u103b\u102c\u1038\u1021\u102c\u1038 \u1005\u1014\u1005\u103a\u1010\u1000\u103b\u101c\u1000\u103a\u1001\u1036 \u1006\u1031\u102c\u1004\u103a\u101b\u103d\u1000\u103a \u1015\u1031\u1038\u101c\u103b\u1000\u103a\u101b\u103e\u102d\u1015\u102b\u101e\u100a\u103a\u104b uab \u104f \u101c\u102f\u1015\u103a\u1004\u1014\u103a\u1038 \u1021\u1001\u103d\u1032\u1016\u103c\u1005\u103a\u101e\u100a\u1037\u103a uab securities \u1019\u103e\u1010\u1006\u1004\u1037\u103a\u101c\u100a\u103a\u1038 Brokerage Services\u104a Corporate and Financial Advisory\u104a Investment Banking \u1014\u103e\u1004\u1037\u103a Capital Market \u1006\u102d\u102f\u1004\u103a\u101b\u102c\u101d\u1014\u103a\u1006\u1031\u102c\u1004\u103a\u1019\u103e\u102f\u1019\u103b\u102c\u1038\u1021\u102c\u1038 \u101c\u1000\u103a\u1001\u1036\u1006\u1031\u102c\u1004\u103a\u101b\u103d\u1000\u103a \u1015\u1031\u1038\u101c\u103b\u1000\u103a \u101b\u103e\u102d\u1014\u1031\u1015\u102b\u101e\u100a\u103a\u104b<\/p>

\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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At\u00a0uab<\/b>\u00a0bank<\/b>, we believe in leading the way towards a better Myanmar, humanising banking,\u00a0connecting people, creating opportunities and changing lives. In December 2017,\u00a0uab\u00a0<\/b>launched \u201cBe The Change Myanmar\u201d initiative that represents our commitment to driving change for a better\u00a0Myanmar, specifically focusing on empowering women and children. We believe\u00a0uab\u00a0<\/b>must operate responsibly and be committed to the community we are in.<\/p>

Please read our annual report at:\u00a0<\/i> Annual Report 2019<\/a><\/p>

Read Myanmar Version Here: <\/i> Myanmar Version<\/a><\/p>

For media enquiries, please contact:<\/p>

Hsint @ +95 9 428206176 |\u00a0hsint.mkkh@uab.com.mm<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Update News uab bank net profit jumped 97.5% to a … \u1015\u102d\u102f\u1019\u102d\u102f\u101e\u102d\u101b\u103e\u102d\u101b\u1014\u103a<\/span><\/a><\/p>","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18417","post","type-post","status-publish","format-standard","hentry","category-update_news"],"acf":[],"yoast_head":"\nuab bank net profit jumped 97.5% to a record MMK 14,630 million for FY2019 - uab bank<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uab.com.mm\/uab-bank-net-profit-jumped-97-5-to-a-record-mmk-14630-million-for-fy2019\/\" \/>\n<meta property=\"og:locale\" content=\"my_MM\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"uab bank net profit jumped 97.5% to a record MMK 14,630 million for FY2019 - uab bank\" \/>\n<meta property=\"og:description\" content=\"Update News uab bank net profit jumped 97.5% to a ... 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