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Myanmar bank plans groundbreaking move abroad

YANGON -- Myanmar's biggest private-sector bank will become the first to expand beyond the country's borders.

Kanbawza Bank said Friday it soon will open a representative office in Thailand, having received approval from the Thai central bank. The office will provide Thai companies with market and regulatory information on Myanmar and refer them to potential local partners. Kanbawza is seeking approval to provide loans, fund transfers and other financial services in Thailand as well.

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