Sustainability Strategy / Impacts

George Koshy

Sustainability Officer

Our Commitment

Our 5-year strategic plan is based on uab bank’s longer term vision as a socially responsible financial services provider.

No poverty, zero hunger, good health and well-being of all people are some of the aims of the United Nations Sustainable Development Goals (SDGs). The 17 SDGs are interrelated, and the Bank looks to contribute to the achievement of the goals.

At uab, we have identified 4 SDGs in which we can contribute meaningfully and have the most impact in supporting the goals. Accordingly, we have short term and mid-term targets for each SDG. We are committed to meet these goals and are devoting significant resources to this end.

Based on our materiality assessment and four (4) identified SDG goals, the following is the status of key targets and impact:

Key Sustainability Impact Areas
Impact Areas Our Approach
Financial Inclusion
(SDG 8)
  • Enabling Homeownership Through Home Loans
  • Providing Digital Solutions
  • Financial Literacy
Financial Stability
(SDG 8)
  • Continued Good Financial Performance of Bank
Job Creation and Enterprise Development
(SDG 9)
  • Financing SMEs
  • Developing Products for Cash Flow Management
  • Opening New Bank Branches to Improve Access to Financial Services
Employee Development and Training
(SDG 4)
  • Regular Training to Employees
  • Trainee Schemes
  • Scholarship and Bursary Support for Children of Employees
  • Providing Internship Opportunities for Students
Customer Satisfaction
(SDG 3)
  • Appropriate and Suitable Products
  • Developing Bancassurance
  • Transparency
  • ESG Policy
ItemTargetTime TargetAchievement as at 31st March 2023
Home ownership
(SDG 8)
10.5% of total loan portfolio30 September 2024

As of 31st March 2023, the home finance portfolio made up 4.89% of the total loan portfolio.

A total of MMK 84.6 bil in home loans with 557 loan accounts were financed (compared to 292, in FY 2022).

Digital solutions (SDG 8)Enabling customers to open an account through handheld devices.A pay app was targeted to be developed by 30 September 2020 and this was achieved as targeted. Yearly incremental improvements are now being pursued to ensure that the status moves towards a “super app”.

uab bank’s digital app (uabpay) was successfully launched in 2020 and it is being developed into a Super app, enabling Customers to conduct their business without being at the Bank branch.The following features have been developed:

  • opening a digital wallet
  • payments to merchants through QR code
  • access to all bank accounts
  • access to all credit and prepaid cards
  • wallet-to-wallet and account-to-account transfers
  • Interbank transfers
  • Bill payments
  • Mobile top-ups
  • Cardless deposits and withdrawals
  • Gold Investment platform

Apart from the uabpay app, the uabpay+ was also launched specifically targeted to agents and merchants and this app enables them to receive and reconcile payments.

Inter-wallet operability is an on-going process and fund transfers may be made to Citizens Pay, MPT Pay and Mandalay Smart Pay.

International Money transfers can be received from RIA Money Transfers.

Cash deposits and withdrawals through agents (apart from bank branches) through uabpay+ was successfully developed and launched in 2022.

uab Marketplace can be accessed directly on the uabpay app allowing consumers to shop for consumer items online.

Digital Gold Investment feature was developed and successfully launched in March 2023 with the aim of allowing small retail investors to make investments in gold easily through a few simple steps.

Financial literacy (SDG 8)Conduct at least 12 financial literacy sessions or projects per annum to unbanked, underbanked, and underserved individuals.30 September 2024

During the FY 2022-2023, financial literacy outreach was continued to educate people on savings and inward remittances. This was successfully undertaken in 15 villages in the Tatkon/ Naypyidaw area, 8 villages in Kyaukpadaung area and 6 villages in the Pokkoku area.

At each village, between 10 to 30 villagers attended the sessions and about 625 people were reached through the program.

From April 2022 to March 2023, uab bank collaborated with the Ministry of Labour to organize Financial Literacy and Financial Inclusion educational seminars, conducting a total of 16 sessions in Yangon and 38 sessions in Mandalay. These seminars were engaged by a significant total of 29,390 attendees, contributing to their financial empowerment and inclusion.

Financing SME (SDG 9)26% of total loan portfolio30 September 2024

As of 31st March 2023, SME financing accounted for 8.76% of the total loan portfolio. Within the SME financing category, 16.78% was facilitated through the JICA 2-step loan program, which offers preferential interest rates to lower borrowing costs for these SMEs.

We provided financing to 1,286 SMEs in FY 2023 (compared to 1,180 in FY 2022) which not only enable enterprises to thrive but also create job opportunities.

Developing products for cash flow management (SDG 9)Developing a Supply Chain Financing solution30 September 2024

Supply Chain Financing product has been launched enabling customers to discount their invoices whilst waiting to receive payments from buyers.

A Cash Management solution is presently being developed.

Payable Finance Solution and Receivable Discounting Solution are the products offered to both Buyers and Suppliers with the opportunity to improve and protect their working capital.

Opening new bank branches to improve access to financial services (SDG 9)Establish 120 branches covering multiple townships in Myanmar nationwide30 September 2024

As of 31st March 2023, the Bank expanded its activities by opening 5 new branches in the following regions:

  • Shwe Bo
  • Myeik
  • Kale
  • Mawlamyine
  • Thanlyin

uab bank’s branch network reached a total of 83 branches in FY 2023. This growth in the Bank’s branch network highlights our diligence to provide accessible financial services across multiple locations nationwide in Myanmar.

The bank plans to open 24 new branches in the upcoming financial year.

Training employees and development of talent (SDG 4)A minimum of 30,000 man-hours of training to be provided each year30 September 2024

For FY ending 31st March 2023, a total of 60,596 man-hours of training was conducted.

Furthermore, throughout FY 2023, a total of 23 students were provided with valuable work experience through internships, and 17 were interned in FY 2022.

Trainee schemes(SDG 4)Acquire at least 50 Sales and Banking Service trainees each year30 September 2024During the FY 2022-2023, 65 new Relationship Bankers were onboarded and trained for skills in Sales and Banking services.
ESG Policy (SDG 3)To formulate and thereafter implement an ESG policy.Formulation by March 2023. Full implementation by March 2024.Policy is presently on a work-in-progress basis.
Transparency (SDG 3)Issue GRI Index and SASB Index.Publication of index and to be completed by May 2020 and yearly reviews to be conducted.

The GRI and SASB Index has been successfully published by the Bank.

The Bank’s Annual Reports and Sustainability Reports are now publicly available on the Bank’s website.

The Bank also has voluntarily subscribed for Pwint Thit Sa (Transparency in Myanmar Enterprises) reviews conducted by the Myanmar Center for Responsible Business to ensure transparency. uab bank received 1st place ranking at the 2020 Pwint Thit Sa Report. Again in 2022, the bank was ranked No.1 amongst Myanmar banks and No. 2 amongst 271 Myanmar companies that were reviewed.

Bancassurance (SDG 3)Launch bancassurance by financial year 2021.1st phase launched in May 2021 and 2nd phase being launched.

uab bank has partnered with Manulife to offer life insurance protection through the Bank’s bancassurance product. This is with effect from January 2021. As a 2nd phase, the Bank is finalizing the negotiation with a General Insurance provider to offer general insurance products through a bancassurance scheme.

As at March 2023, bancassurance products offered by the partnership includes:

  • Manulife Education Life
  • Manulife Protector
  • Manulife Credit Life Protector
  • Manulife Critical Illness Care

Some of our Non-financial Key Performance Indicators are available in the link below and they cover:

  • Employee engagement
  • Turnover
  • Absenteeism rate
  • Health & Safety
  • Frequency rate/Fatality Rate
  • Training
  • Career Development
  • Equal Opportunity
  • Disability
  • Environmental issues
  • Societal responsibilities


You can find more on KPIs here:

Non-Financial KPIs

Activities that serve the greater good of the community are prioritised at uab bank. A short report on the following topics is available in the link below:

  • Customer health & safety
  • Supplier/Contractor selection and criteria
  • Environmental friendly value chain
  • Interaction with communities
  • Anti-corruption programme and procedures
  • Creditor rights
  • Central Bank of Myanmar Directives
  • Operational Incident Reporting mechanism


You can read more on our non-financial activities here:

Non-Financial Activities