1 Background of the Project 1.1 Current situation of the financial sector 1.1.1 Overview of the financial sector Currently (as of September 2017), in Myanmar, a total of 41 banks are in operation in the three categories: commercial banks, foreign banks, and state-owned banks. The number of banks by category is shown in the table below. Table 1-1 Banks in Myanmar No. Category Banks 1 Commercial Bank 24 2 Foreign Bank 13 3 State-Owned Bank 4 Total 41 Source: Preparatory Survey Team The table below shows the number of branches and accounts as indicators of each bank's business scale. Table 1-2 Business scale of Banks in Myanmar (Establishment order in each category) No. 1 Banks Myanmar Citizens Abbrev. Category Branches Saving Checking a/c a/c MCB Commercial 15 27,657 43,190 Bank Ltd 2 First Private Bank FPB Commercial 31 44,582 7,508 3 Co-operative Bank Ltd CB BANK Commercial 173 107,729 929,286 4 Yadanabon Bank YDB Commercial 2 4,523 2,983 5 Myawaddy Bank Ltd MWB Commercial 30 133,485 9,070 6 Yangon City Bank Ltd YCBC Commercial 3 18,314 1,651 7 Yoma Bank Ltd YOMA Commercial 55 169,909 122,241 1