Kanbawza Bank has been awarded “The Best Bank in Myanmar-2016” by London-based economics magazine Euromoney winning the award for the third year in a row, state media reported on 18 July.
KBZ Bank was crowned Myanmar’s best bank after it managed to get the highest amount of deposits and make the highest profits from its banking services. The award also recognised the scale of KBZ Banks services with 400 bank branches nationwide and the highest amount of loans distributed to small and medium enterprises which “underpinned the development of the country”.
KBZ is Myanmar’s largest income tax payer and makes the largest contribution to social welfare in the country, according to Euromoney. KBZ Bank has been Myanmar’s largest tax payer for four consecutive years, from the 2011-12 FY to 2014-2015 FY and since 2007, KBZ’s Brighter Future Myanmar foundation has spent more than K103 billion on regional development and disaster preparedness, the report said.