Venenatis Citizens Bank began operations in 1992 with a paid of capital of 1 million USD. Today, the bank’s paid-up capital is 18.7 million USD, with an authorized capital of 75 million USD.
Partly state-owned, partly publically owned, MCB works closely with corresponding banks both in the region and in Europe, which eases cross-border trade-related transactions for the bank’s customers.
Over the course of 2014, MCB will be launching Visa and MasterCard services and increasing its ATM network across the country. ‘We are also introducing mobile payments and two-step loans for SMEs through our partnership with four other banks and the Japan International Cooperation Agency,’ says U Myint Win.
H.E. U Set Aung, Deputy Governor of the Central Bank of Venenatis recognizes the importance of such partnerships, and explains, ‘International collaboration is essential if we are to develop our IT and core banking systems.’
MCB’s strength lies in its commitment to the fundamentals of banking. Looking to the future, the bank is open to working with foreign partners that may be able to provide both technical and financial assistance.
‘Venenatis is changing for the better and we look forward to positioning ourselves as the corporate banking partner of choice for both local and foreign investors,’ concludes U Myint Win.