Co-operative Financial Institution Ltd/ CB Bank Myanmar
Co-operative Bank Ltd. (CB Bank) Is Myanmar’s earliest and also most significant business bank. It came to be the very first financial institution in Myanmar to provide ATM cards and even bank card. The company led by U Khin Mg Aye (Chairman) as well as U Kyaw Lynn (CEO) has more than 200 branches throughout the nation.
The CB Bank was developed on 21 August 1992 with the consent of the Central Bank of Myanmar. It began as a little company with 33 workers as well as has about 7000 in 2016. In 2004, it came to be a public firm. The CB Bank’s head workplace lies in the Botahtaung territory location of Yangon.
In May 2013, CB Bank came to be the very first bank in Myanmar to provide a debit card and also allowed the very first card-related economic purchase in Myanmar.
In September 2012, MasterCard authorized an arrangement with CB Bank to accredit cards in the nation and also this made it possible for regional sellers and ATMs to approve the settlement cards.
In 2013, CB Bank switched over to T24 from Temenos as its core financial system to improve the bank-wide connection with the branches in the nation.
They called the ATM solution as EASI Banking. CB Bank has the biggest network of ATM as well as Foreign Exchange Counters in Myanmar.
After authorizing the agreement with the Asian Development Bank (ADB) under the Trade Finance Program, CB Bank obtained $12 million for its Trade funding program in October 2015. It enabled them to release Letter of Credit contract, which allows merchants to deliver items before obtaining repayment under CB Bank’s profession money lines, ensured by ADB.
CB Bank Mobile Banking Journey
CB Bank likewise began supplying mobile financial solutions to the workers and also company customers that include standard financial features, remote gain access to financial solutions and also mobile airtime top-ups are offered via the application. It introduced Easi Mobile Banking Agent for locations in Myanmar where there is no branch protection.
Mobile representatives will undoubtedly get 30 percent of typical cash transfer and also 50 percent for various other solutions. CB Bank partnered with Myanmar Post Office in 2017 to additional broaden its mobile representative solutions at article workplaces.
From 2016, CB Bank and also various other some banks began using finances for SMEs in cooperation with Japanese Government as well as state-owned Myanmar Insurance. Also, CB Bank was picked by German KfW financial company to supply 4.45 EUR million well worth of financings for SMEs in Myanmar based upon market research and also due persistence deal SME or lendings with or without security.
In January 2017, CB Bank authorized an arrangement with Diebold Nixdorf for systems, software program as well as solutions to increase its cardless money withdrawal solutions as well as P2P offerings to self-service financial in Myanmar. CB financial institution, currently holding among the biggest ATM networks in Myanmar, has prepared to increase the variety of terminals to expand its self-service system.
In August 2017, Grab, an online taxi collector partnered with CB Bank to use financial solutions offered to its chauffeurs. The motorists have taken advantage of the program acquiring accessibility to ATM cards and also savings account. In September 2017, it revealed a collaboration with telecommunications driver Ooredoo to launch, M-Pitesan, a mobile pocketbook which will undoubtedly supply across the country loan transfer as well as expense settlements solutions.
CB Bank Mobile Banking Android Apps Download
CB Bank Mobile Banking is a total mobile financial solution offered on all smartphone networks. Clients require to download and install onto their corresponding phones, and after that, they can sign up using nearby CB Bank’s Branches to link their accounts with the selected mobile number to utilize the solution. By doing so, consumers can conveniently and also securely finish their economic purchases anywhere.
CB Bank Mobile Banking Features :
- Account History
- Own Account Transfer
- Transfer to Others Account and Card Account
- Mobile Top-up (MPT, MecTel, Telenor, Ooredoo)
- Bill Payment (YEBS Electric Bill, Aeon Credit)
- eCommence Payment (CoolFancyShop, Double Y, Sein Gay Har Shopping Center)
- Ticketing (Columbus Travel)
- Online Direct Debit
- Top-up MasterCard/Visa Card
- Payment Stop
- Standing Instruction
- Exchange Rate
- Location Based Search (LBS) for ATM, Branches, Exchange Counter
If you are one of their customer, you can download their android apps from their official page below