Kolkata-based lender United Bank of India (UBI) has opened a representative office at Yangon in Myanmar and has commenced the operations from the said branch. Being the first bank to open office in Myanmar, UBI will take this opportunity to leverage huge business potential between Myanmar and India. Earlier in June this year the bank had been permitted by the Central Bank of Myanmar to open a Representative Office in Yangon.
The representative office will not handle any financial transaction, while officials will maintain relationship with the Government, Banks and Traders and will extend help and cooperation toward resolving all issues relating to settlement of trade related transaction between both the countries.
United Bank of India has emerged as a strong and efficient banking organization over the years and plays an integral role in the socio-economic development of the Eastern and North-Eastern States of the country. The bank at present has a strong presence with its total 1678 branches and 800 ATMs spread across the country.
