Yangon, 16th August 2020 – uab bank, named Myanmar’s Best Bank in both 2019 and 2020 by Euromoney, celebrates 10th anniversary with over 30,000 rice bags worth more than MMK 100 million to needy communities at all uab bank branch locations throughout Myanmar.
To make this donation more significant, the rice was purchased directly from farmers at Kong Zaung Village in Magway region, reducing the need for intermediaries and a better price to the farmers directly. The management team of uab bank visited the village to learn more about
the rice cultivation and production process, and spend time with the farmers to listen to their stories.
Mr Christopher Loh, MD and CEO of uab bank said,
“At uab bank, we believe in leading change and humanising banking. We initiated the Be The Change Myanmar Programme in December 2017 and this year, as we celebrate our 10th anniversary, we have established uab foundation to further demonstrate our commitment to build a better future for the communities we are in across Myanmar.
Our trip to Kong Zaung Village in Magway region was very meaningful and humbling. We witnessed the hard work and tears of these farmers so that we can have rice on the table. These farmers work hard to support their family and children, toiling a typical 8 hours day under the hot sun. Our leadership team and I have much thinking to do, and to look at how we can better the lives of these farmers and humanise banking in Myanmar.”
This donation was undertaken by uab foundation, a newly established foundation under uab bank to commemorate its 10th anniversary. With the setup of uab foundation, “Be the Change Myanmar” programme which was started in December 2017 will come under the foundation and will continue to drive uab bank’s commitment to empower women, youth and the community across Myanmar.
The almost 2,000 strong uabians were on the ground across 85 locations in Myanmar, comprising 78 existing branches and 7 new branch locations to distribute the rice bags with the assistance of township authorities who have helped to identify communities and individuals who needed assistance.
Reflecting on uab bank’s ongoing effort to lead the way towards a better Myanmar, Christopher added,
“From our humble beginnings 10 years ago, our founding leaders have laid a good foundation and expanded uab across Myanmar. 3 years ago, under the auspices and foresight of our Chairman, we began the transformation journey to rebrand and refresh uab into a modern, innovative and well-governed financial institution. We are proud that our commitment has been recognised by many, including being the most transparent bank in Myanmar in the Pwint Thit Sa Report by Myanmar Centre for Responsible Business (MCRB), and Myanmar’s Best Bank by Euromoney in both 2019 and 2020. It shows how far uab bank has transformed and progressed to become one of the best banks and brand in Myanmar.
To all our customers and friends of uab – thank you. We look forward to partnering you to bring meaningful and lasting change to Myanmar.”
About uab bank
uab bank is a leading bank in Myanmar, recognised for its successful transformation and leadership in the Myanmar banking sector amidst the regulatory changes and governance requirements, uab bank was named “Myanmar’s Best Bank” by Euromoney in both 2019 and 2020, “Best Bank for Corporate Governance Myanmar” by Global Banking & Finance, “Mid-sized Domestic Retail Bank of the Year” by Asian Banking & Finance, and was ranked the most transparent bank and No. 1 in Corporate Governance Disclosure by Pwint Thit Sa (TiME) Report published by the Myanmar Centre for Responsible Business.
Established in 2010, we are now serving our customers from a growing network of over 78 branches in 47 townships across Myanmar. uab provides a wide range of financial services including consumer banking, premier banking, SME banking, corporate banking, trade finance and treasury services. Through our subsidiary uab securities, we also provide brokerage services, corporate and financial advisory, investment banking and capital market activities.
At uab bank, we believe in leading the way towards a better Myanmar, humanising banking, connecting people, creating opportunities and changing lives. In December 2017, uab launched “Be the Change Myanmar” initiative that represents our commitment to driving change for a better Myanmar, specifically focusing on empowering women and children. We believe uab must operate responsibly and be committed to the community we are in.
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