Local Banks Provide K21 Trillion in Loans in 6-Month Period

Source : Myanmar Business Today
View Count : 664
Jul 26, 2019

According to the Quarterly Financial Statistics Bulletin 2018, Volume 3, which was recently released by the Central Bank of Myanmar, between March and September 2018, local private banks provided around K20.95 trillion in loans to amount ten different sectors.

The ten sectors to which private banks provided these loans were: agriculture, production, trading, transportation, construction, services, general, hire purchase housing loans, and small- to medium-sized enterprise (SME) loans.

According to the information in this bulletin, the loans to the trading sector were the largest of these ten, racking up a total of K6.8 trillion; in second place were the loans to the general sector, which totaled some K3.7 trillion.

The bulletin goes on to report that the banks provided loans totaling K2.1 trillion for the production sector, and K2.6 trillion for the services sector. Then where were some K3.1 trillion for the construction sector.

Among the various states and regions, Yangon and Mandalay Regions received the greatest share of the loans, at K16.6 trillion and 2.5 trillion, respectively. On the opposite end of the spectrum, Kayah and Chin States received the smallest share.

With the assistance of the Central Bank of Myanmar, private banks have provided loans with a 13 percent interest rate for loans with collateral, and loans at a 16 percent interest rate for loans without collateral.

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