Profile of Global Treasure Bank (GTB)
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 financial assistance to entrepreneurs for development of all business sectors..
Establishment
The bank was incorporated on 6th February 1996 under the Myanmar Company Act 1914 in the name of 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 it letter No.Yaka-8(Gange)001/2013 (010994) dated 27-8-2013
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 in foreign banking services. Under Section 176 of Financial Institutions Law 2016, CBM granted Commercial Banking Business License No. MaBaBa/Paba(R)-22/08/2016 on 18th August 2016.
Global Treasure Bank Public Company Limited is a Commercial Bank, licensed by Central Bank of Myanmar to operate the following businesses:
(a) receiving various kind of deposit business;
(b) business of paying and collecting cash for check drawn by or paid in by person;
(c) providing credit facilities such as term loans, overdrafts, letters of credit, bank guarantees, import & export trade financing; andsuch other banking businesses as prescribed and approved by CBM under section 52 of Financial Institutions Law 2016.
Share Capital of the Bank
GTB has an authorized capital of Kyats 70 billion with the value of each share being Ks 10,000 and there are 7,000,000 shares in toto. An individual or organization is allowed to purchase up to five per cent of the authorized capital, and those holding 30,000 shares which are worth Ks 300 million are qualified for nomination as a Member of BoD of the bank
Board of Directors
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 stand point, independent of management. BOD Meeting convene at least once a month to decide on important matters stipulated in Laws and Article of Association, as well as to make important decisions related to management policy and management strategy. The Managing Director serves as Chief Executive Officer of the bank.
Management Committees
According to the resolutions of BOD coordination meeting (1/2024-2025) held on 1-10- 2024 the members of BOD are assigned to the Management Committees such as Risk Management Committee, Credit Committee, Liabilities & Assets Management Committee, Audit Committee and Remuneration Committee adhered to the Sub-section(a) of Section 75 in Chapter 10 of the Financial Institutions Law 2016.
