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Yoma Bank sets the pace as Myanmar's banking sector opens up

Financial deregulation attracts investors from Southeast Asia and beyond

A branch of Yoma Bank in Yangon: The bank is part of the revenue-producing finance unit of First Myanmar Investment.

YANGON -- Myanmar's Yoma Bank, a mainstay lender in the Southeast Asian country, is setting the pace in attracting foreign investment after authorities lifted a ban on foreign financial institutions holding shares in local banks.

In April, the bank announced that it will receive about 131 billion kyat ($94 million) from Greenwood Capital, an affiliate of GIC, and Norfund -- the Norwegian Investment Fund for Developing Countries.

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