What You Need to Know About Yoma Bank

Yoma Bank is a well-established financial institution in Myanmar, with a rich history dating back to 1992. It was founded by Serge Pun, a renowned entrepreneur and businessman.

Yoma Bank offers a wide range of banking services, including savings accounts, current accounts, and loans. These services cater to both individuals and businesses.

The bank has a strong presence in Myanmar, with numerous branches and ATMs located throughout the country. This widespread presence makes it easily accessible to customers.

Yoma Bank has been recognized for its innovative approach to banking, including the introduction of mobile banking services. This has made banking more convenient and accessible to a wider audience.

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In 2003, Myanmar experienced a major banking crisis that had a significant impact on Yoma Bank. Yoma Bank's license was limited, stopping the bank from accepting deposits or issuing loans.

This restriction forced Yoma Bank to focus on fee-based services, such as remittances.

Yoma Bank has a significant presence in Myanmar, with over 3,100 employees in its operations and over 81 branches nationwide as of 2023.

The bank has a long-term plan to promote its SME lending program, which was announced in May 2014 by the International Finance Corporation (IFC) with a loan of over $30 million.

Yoma Bank has been employing foreign managers and returning Burmese from abroad to develop the bank into an international standard local bank.

Yoma Bank's full operations began in August 2012, when the Central Bank of Myanmar reinstated the bank with a full banking license.

Pun, the bank's chairman, aimed to make Yoma Bank a local bank that meets international standards. To achieve this, the bank started employing foreign managers and recruiting Burmese professionals who had returned from abroad.

In 2014, the bank employed over 2,200 staff in 51 branches. This significant growth was due in part to the bank's focus on small and medium-sized enterprises (SMEs).

The International Finance Corporation (IFC) provided a loan of over $30 million to support Yoma Bank's SME lending program. The IFC also agreed to help the bank install a new core banking system and improve its risk management and corporate governance.

Yoma Bank received the first $5 million from the IFC in September 2014, which it used to support its SME program. The bank's partnership with the IFC marked an important milestone in its development.

As of 2023, Yoma Bank has over 3,100 employees and operates in over 81 branches nationwide.

I'm glad you're interested in learning more about banks. Banks are financial institutions that provide a wide range of services to their customers.

Banks offer various types of accounts, including checking and savings accounts, which allow customers to deposit and withdraw money as needed. These accounts are usually linked to a debit card or checkbook.

Banks also provide loans, such as personal loans and mortgages, which can be used to finance large purchases or consolidate debt. Loans often come with interest rates that can vary depending on the type of loan and the borrower's credit score.

In addition to these services, banks also offer investment products, such as certificates of deposit (CDs) and stocks, which can help customers grow their wealth over time.

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To unlink WavePay from your Flexi Everyday account, simply tap the "Unlink Bank Account" option. This will initiate the unlinking process.

You'll then be prompted to confirm that you're sure to unlink. If you're certain, tap "Confirm".

Next, enter your 4-digit PIN to complete the unlinking process. This will successfully remove the link between WavePay and your Yoma Bank Flexi Everyday account.

If you change your mind and want to link again, you can relink your WavePay account and Yoma Bank Flexi Everyday account instantly, taking just a few seconds to do so.

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Yoma Bank is a leading financial institution in Myanmar. It offers a range of services including banking, insurance, and asset management.

The bank has a strong presence in the country with over 100 branches and a network of ATMs. Yoma Bank is committed to providing innovative financial solutions to its customers.

In 2019, Yoma Bank launched its mobile banking app, allowing customers to access their accounts and conduct transactions on the go. This app has been widely adopted by customers, with over 50% of transactions now being done through mobile banking.

Yoma Bank has also partnered with other financial institutions to expand its reach and services. One notable partnership is with the Myanmar Citizens Bank, which has increased the bank's customer base and offerings.

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Yoma Bank's management team is led by a seasoned professional, Aung Naing Oo, who brings over 20 years of experience in the banking industry to the role.

The bank has a total of 120 branches across Myanmar, providing a wide reach for its customers.

Yoma Bank's staff are known for their excellent customer service skills, which is reflected in the bank's high customer satisfaction ratings.

The bank's management prioritizes staff development and training, recognizing the importance of upskilling its employees to meet the evolving needs of its customers.

With a strong focus on innovation, Yoma Bank has implemented cutting-edge technology to enhance its services and improve customer experience.

Yoma Bank's management team is committed to fostering a positive work culture, which is evident in the bank's high staff retention rates.

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Yoma Bank offers a range of employee benefits to support the well-being and career growth of its staff.

The bank provides a comprehensive health insurance plan, which includes coverage for medical expenses, hospitalization, and outpatient care.

A generous leave policy allows employees to take time off for rest and relaxation, with a minimum of 10 days of paid annual leave.

The bank also offers a retirement plan, which includes a pension scheme and a retirement savings plan, to help employees plan for their future.

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Yoma Bank has a significant workforce with 1,088 people employed.

1,088 people are employed at Yoma Bank.

Working at Yoma Bank, you'll be based in Mandalay, Mandalay.

Yoma Bank is providing PRUGroup Life, a life insurance solution offered by Prudential Myanmar, to over 3,000 employees across Myanmar.

This plan provides protection against financial loss in case of death, total and permanent disability, or disability.

While it's not mandatory for companies to provide life insurance for employees in Myanmar, Yoma Bank is doing so on a voluntary basis to its employees.

The majority of Yoma Bank's employees are not protected by individual insurance, making this coverage a valuable benefit for them.

By being covered under PRUGroup Life, employees can enjoy peace of mind knowing their family and loved ones will be protected in case of an unfortunate life event.

In addition to the standard coverage, Yoma Bank's employees also get free, additional coverage to help protect them against the COVID-19 pandemic.

Under the COVID-19 Free Cover initiative, Prudential Myanmar will provide lump sum benefits to any Yoma Bank employee who is diagnosed with COVID-19 or passes away as a result of the disease.

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