Awards for Excellence 2022: Best bank in Myanmar – uab
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Awards for Excellence 2022: Best bank in Myanmar – uab



Best Bank: uab

We did not give an award in Myanmar last year in light of the military coup, but opted this year to reward the banks that are continuing to deliver despite the twin shocks of political crisis and the pandemic.

It would be a reach to say that anyone has great numbers in Myanmar; it tells you something that uab’s non-performing loan ratio, of 8%, is the lowest in the country. But it’s also important to remember just how fast Myanmar grew before being beset by current crises.

Uab’s profit after tax is well down year on year but it boasts a five-year compound annual growth rate of 120.1%. That was off a low base, but loans are up a CAGR of 14.8% and deposits 11.7%.

Also, in difficult circumstances, uab has done well on the things it can control, most obviously costs and efficiency: a cost-to-income ratio of 37.5% is uncharted territory in Myanmar.

The bank is also trying a range of other measures, from digital apps to supporting a reality television programme to raise awareness on entrepreneurship.

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