Retail Banks

ANZ Bank to Withdraw From Myanmar

ANZ Bank has announced it will cease its Myanmar operations by early 2023, subject to local regulatory approval

Bloomberg  reports that the move to cease operations in Myanmar is subject to local regulatory approval and the lender has been “working with its Institutional customers to transition to alternative banking arrangements,” it said in a statement on Tuesday. 

The Financial Action Task Force last month added Myanmar to a group of high-risk countries, known as the ‘black list,’ citing its failure to make enough progress in addressing illicit financial flows. 


“The decision follows careful consideration of the local operating conditions,” ANZ’s Managing Director, International, Simon Ireland said in the release. “Our international network and supporting the trade and capital flows of our customers around the region is a critical part of our strategy, and will continue to be for the long term,” he said.