United Amara Bank

Last updated
uab bank Limited
Native name
ယူနိုက်တက်အမရဘဏ်
Type Private
Industry Bank
FoundedAugust 2010
FounderU Ne Aung
Headquartersuab Tower @ Times City,
Yangon
,
Myanmar (Burma)
Key people
Ne Aung (Chairman)
Christopher Loh (MD & CEO)
Total assets 385 billion kyat [1] (US$340 million) (2013-14)
OwnerU Ne Aung
Website www.unitedamarabank.com

United Amara Bank (Burmese : ယူနိုက်တက်အမရဘဏ်; abbreviated UAB) is a private commercial bank in Myanmar. It was one of 4 private banks to commence operations in August 2010, the first new financial institutions in the country since the establishment of Innwa Bank in 1997. [2]

The bank is majority owned by Ne Aung, the son of Aung Thaung, who has been blacklisted by the United States Treasury on 31 October 2014 [3] for his membership in the country's ruling military junta, the State Peace and Development Council and his attempts to undermine Burma's economic and political reforms. [4] [5]

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References

  1. "The Myanmar Times Bank Survey 2014". Myanmar Times. 15 July 2014. Retrieved 8 February 2015.
  2. Cheesman, Nick; Skidmore, Monique; Wilson, Trevor (2012). Myanmar's Transition: Openings, Obstacles, and Opportunities. Institute of Southeast Asian Studies. p. 147.
  3. Aye Thida Kyaw (8 December 2014). "Ghosts of 2003 crisis haunt banks". Myanmar Times. Retrieved 8 February 2015.
  4. Aye Thida Kyaw (10 November 2014). "United Amara frets bank run as owner's father blacklisted". Myanmar Times. Retrieved 8 February 2015.
  5. Thiha Ko Ko (5 November 2014). "NOV Blacklisted MP 'not linked to United Amara Bank,' only son". Mizzima. Retrieved 8 February 2015.