Bank Deposit Of Global Treasure Bank
Bank Deposit are increasing year by year are mentioned by types are as follow:
| Types of Deposit | End 1999-2000 (Kyats in Billion) |
End 2015-2016 (Kyats in Billion) |
|
| (a) | Current Deposit | 0.15 | 20.68 |
| (b) | Saving Deposit | 1.76 | 333.87 |
| (c) | Fixed Deposit | 0.27 | 79.77 |
| (d) | Call Deposit | 0.18 | 128.53 |
| Total | 2.36 | 512.73 |
Activities Carried out in Cooperation with Insurance Companies
The Global Treasure Bank (Public Company Limited), on its part, has been carrying out insurance activities in cooperation with three insurance companies namely GGI, YI &YIL and CTLI. In this regard, the Loan Department at the Head Office is taking the responsibilities for the secured loans while the Law Department at the head office is taking the responsibilities for the secured loans as well as for all activities related to insurance companies. There are a total of ( 73) bank insurance agents.
CBM Bank Rates
As per stipulations mentioned in CBM Directive 8/2024 dated 14-8-2024, the Central Bank sets the interest rate, the interest rate that banks pay on deposits and the interest rate that banks may charge on loans and the following CBM bank rates which is the reference rate for all banks in Myanmar and shall come into effective from 1st September 2024.
(a) The Central Bank interest rate has been set to increase from currently 7% to 9%;
(b) the minimum interest rate that banks must pay on deposits has been set at 7% and the maximum interest rate that banks may charge on all loans has been set at 15%;
(c) banks shall set the deposit and loan interest rates between 7% and 15% according to their profitability and ability to manage the risk of losses.