A brazen bank robbery took place midday in downtown Yangon on 22 October.

The robbery took place at the Kanbawza Bank branch in the Urban Asia Center on Maha Bandula road between 47th and 48th Streets, Botahtaung township, Yangon at around 1 pm, netting more than 300 million kyat, according to a source close to the bank.

Five armed men reportedly entered the bank pointing pistols at staff, and stole over 313 million kyat, taking it away in a gunny sack.

After the KBZ Bank raid, military council troops tightened security and carried out inspections on Maha Bandula road and on the Maha Bandula Bridge, according to locals.

According to an eyewitness, speaking to BBC Burmese news, the robbers attacked two bank security guards but took the money without harming other bank employees or visitors. A white Fielder taxi was used as a get-away vehicle.

The bank announced that a bank security guard was injured in the incident and was taken to Ganni Hospital and that the search for the robbers was ongoing.