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 15th February 1996 as Myanmar Livestock and Fisheries Development Bank. 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, 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. 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 52.17 billion Kyats were fully issued to the public during 2015-2016.


Number of Clients

The bank is working with 254,068 clients including depositors and borrowers from various sectors.


Shares Limited

The maximum shareholding of a shareholder is limited to 5% of the authorized capital. Shareholders holding shares of value of at least 300 million Kyats 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 which comprise of 15 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 are 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:

  1. -Chief Executive Officer

  2. - Deputy Managing Director (Domestic Banking)

  3. -Deputy Managing Director (International Banking)

  4. - Deputy Managing Director (Currency)

  5. - Deputy Managing Director (Planning and Account)

  6. - Senior Relationship Officer (General Manager)

A total of 3,398 employees including (361) officers and ( 3,037 ) staff including head office and bank branches.