United Amara Bank

United Amara Bank (Burmese: ယူနိုက်တက်အမရဘဏ်; abbreviated UAB) is a private commercial bank in Myanmar. It was one of 4 private banks to commence operations in August 2010, the first new financial institutions in the country since the establishment of Innwa Bank in 1997.[2]

United Amara Bank (UAB)
Native name
ယူနိုက်တက်အမရဘဏ်
Private
IndustryBank
Founded2010 (2010)
HeadquartersBahan Township,
Yangon
,
Myanmar (Burma)
Key people
Nay Aung (Chairman)
Than Win Swe (CEO)
Total assets385 billion kyat[1] (US$340 million) (2013-14)
OwnerIGE Group of Companies
Websitewww.unitedamarabank.com

The bank is majority owned by Ne Aung, the son of Aung Thaung, who has been blacklisted by the United States Treasury on 31 October 2014[3] for his membership in the country's ruling military junta, the State Peace and Development Council and his attempts to undermine Burma's economic and political reforms.[4][5]

References
  1. "The Myanmar Times Bank Survey 2014". Myanmar Times. 15 July 2014. Retrieved 8 February 2015.
  2. Cheesman, Nick; Monique Skidmore; Trevor Wilson (2012). Myanmar's Transition: Openings, Obstacles, and Opportunities. Institute of Southeast Asian Studies. p. 147.
  3. Aye Thida Kyaw (8 December 2014). "Ghosts of 2003 crisis haunt banks". Myanmar Times. Retrieved 8 February 2015.
  4. Aye Thida Kyaw (10 November 2014). "United Amara frets bank run as owner's father blacklisted". Myanmar Times. Retrieved 8 February 2015.
  5. Thiha Ko Ko (5 November 2014). "NOV Blacklisted MP 'not linked to United Amara Bank,' only son". Mizzima. Retrieved 8 February 2015.
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