22 Aug 2019

Myanmar Citizens Bank and IFC sign agreement to transform banking in Myanmar

Yangon, August 14, 2019-The Myanmar Citizens Bank (MCB), a public listed company at Yangon Stock Exchange (YSX) signed an agreement with the International Finance Corporation (IFC), a member of the World Bank Group, for provision of advisory services to enable the bank to take a quantum leap in performance over the next 3 years.

Under the agreement, IFC will work with MCB to develop and implement an institutional wide transformation to support the bank in achieving the organizational objectives. The project will be delivered over two years and will focus on business innovations through refining the strategic plan with strong customer value propositions in Corporate, SEM and Retail Banking, optimizing products and channels, improving branch and sales networks, creating a suitable digital platform as well as streamlining organizational management. Additionally, it also includes enhancement of risk management capabilities and develop organizational effectiveness and capacity.