History Of Global Treasure Bank
Mission
As one of the leading banks in Myanmar, Global Treasure Bank is dedicated to providing efficient banking services and establishing a trustworthy, reliable and successful relationship with all stakeholders. Global Treasure Bank is committed to generating value for our customers.
Objective
The main objective of Global Treasure Bank is to provide sound financial assistance to entrepreneurs for development of all business sectors.
Establishment
The bank was incorporated on 6th February 1996 as Myanmar Company Act 1914 as Myanmar Livestock and Fisheries Development Bank(MLFDB)with Company Registration No 124602408.The bank changed its name to Global Treasure Bank (Public Company Limited) on 1st July 2013, with the permission of the Ministry of National Planning and Economic Development, Directorate of Investment & Company Administration with its letter No.Yaka-8 (Gange) 001/2013 (010995) dated 27-8-2013.
Type of Bank
Global Treasure Bank (Public Company Limited) is a Commercial Bank, licensed by Central Bank of Myanmar (CBM) to operate the following business;
(a) Receiving various kinds of deposit business;
(b) Business of paying and collecting cash for cheques drawn by or paid in by person;
(c) Providing credit facilities such as term loans, overdrafts, letter of credits, bank guarantees,import & export trade financing; and
(d) Such other banking business as prescribed and approved by CBM under section 52 of Financial Institutions Law 2016.
Commercial Bank License
Central Bank of Myanmar granted domestic banking license Mababa/ P-15 (2) 96, dated 15th February 1996 to GTB. Money Changer License was granted on 24th October 2011 and Authorized Dealer License No. CBM-FEMD-94/ 2012 was granted on 24th August 2012 to operate foreign banking services. Under section 176 of 2016 Financial Institution Law, CBM granted Commercial Banking business license No. Ma Ba Ba/ Pa Ba (R)-22/08/2016 on 18th August 2016.
Financial Status
Global Treasure Bank has an authorized capital of 35 billion Kyats divided into 70,000 shares per 500,000 Kyats, and all shares were already issued to the public in July 2012. In 2013, authorized capital was increased to 70 billion Kyats granted by Central Bank of Myanmar, of which 62.43 billion Kyats were fully paid -up as of 30th September 2021.
Number of Clients
The bank is working with 254,068 clients including depositors and borrowers from various sectors.
Shares Limited
An individual or an organization is allowed to purchase up to 5% of the authorized capital and a shareholder holding 30,000 shares with the value of at least 300 million Kyats and above are qualified for nomination as a member of Board of Directors of the bank.
Management Of Global Treasure Bank
The bank is managed by the Board of Directors elected by the shareholders which comprise of 14 members. One of them is elected as Chairman of the Board. Furthermore, two Independent Non-Executive Directors are appointed at the Annual General Assembly Meeting to provide appropriate advice from neutral standpoint, independent of management. BOD Meetings convene at least once a month to decide on important ryratters stipulated in Laws andArticle ofAssociation, as well as to make important decisions related to management policy and management stratery. The Managing Director serves as Chief of Executive Officer of the bank and senior management and its staffare as follows:
-Chief Executive Officer
- Deputy Managing Director (Domestic Banking)
-Deputy Managing Director (International Banking)
-Deputy Managing Director (Currency,Account)
- Deputy Managing Director (Planning and Account)
- Senior Relationship Officer (General Manager)
A total of( 3,251) employees including (384) officers and ( 2,867 ) staff including head office and bank branches.
