Asia Green Development Bank
{{Short description|Commercial Bank in Myanmar}}
{{Infobox company
| name = Asia Green Development Bank (AGD)
| logo = Logo of Asia Green Development Bank.svg
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| native_name = {{lang|my|အာရှစိမ်းလန်းမှုဖွံ့ဖြိုးရေးဘဏ်}}
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| industry = Financial services
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| founded = {{start date|2010|07|02}}
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| location_city = Yangon
| location_country = Burma
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| services = Banking
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| assets = Ks.1.2 Trillion ({{USD|794 million}})
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| website = {{URL|www.agdbank.com}}
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Asia Green Development Bank ({{langx|my|အာရှစိမ်းလန်းမှုဖွံ့ဖြိုးရေးဘဏ်}}; abbreviated AGD Bank) is a public commercial bank in Burma (Myanmar){{cite news|url=https://corporatefinanceinstitute.com/resources/careers/companies/top-banks-in-myanmar/|title=Overview of Banks in Myanmar|work=Corporate Financial Institute|access-date=30 July 2019}} providing banking services and products. It was one of 4 private banks to commence operations in August 2010 when the government issued four new banking licences and the first new financial institutions in the country since the establishment of Innwa Bank in 1997.{{cite book|last=Cheesman|first=Nick|title=Myanmar's Transition: Openings, Obstacles, and Opportunities|author2=Skidmore|first2=Monique|author3=Wilson|first3=Trevor|date=2012|publisher=Institute of Southeast Asian Studies|pages=147|author-link2=Monique Skidmore}} Its headquarters are situated in Yangon, Myanmar.{{cite news|url=https://www.cbm.gov.mm/content/asia-green-development-banks-branches-list|title=Asia Green Development Bank's Branches List|work= Central Bank of Myanmar |access-date=1 August 2019}} The bank began trading on the Yangon Stock Exchange when it opened in 2016.{{cite news|url=https://www.bbc.com/news/av/business-35897350/myanmar-s-new-stock-exchange-begins-trading|title=Myanmar's new stock exchange begins trading|date=25 March 2016|work=BBC|access-date=1 August 2019}} The bank was founded by Tay Za and was a subsidiary of parent company Htoo Group, whose 15% stake was sold to new shareholders. In 2016 Infosys provided AGD Bank with Finacle front and backend solutions for online banking systems.{{cite news|url=https://www.consultancy.uk/news/11939/infosys-provides-suite-of-solutions-to-myanmar-agd-bank|title=Infosys provides suite of solutions to Myanmar AGD bank|date=28 April 2016|work=Consultancy UK|access-date=1 August 2019}}
Brief Info
The AGD Bank's Head Office and first branch was successfully opened on August 6, 2010 in Nay Pyi Taw under the organization of Htoo Group of Companies. In the past, AGD bank was 100% owned and operated by “Htoo Group of Companies” which is engaged in trading, energy and mining, construction, agriculture, hotel, travel and tourism business. But on February 18, 2013 with a new slogan “We, all Myanmar will develop together”, AGD bank was converted to Public Company, managed independently where the shares capital stands at Ks.30.0873 billion of 601746 shares in the fiscal year. The share capital has since then grown to Ks.50.59 billion in 2021.
AGD Bank has been 77 branches across the country until June 2019. With establish an International Banking Department, authorized as Dealer and Money Changer Licenses 65 foreign exchange counters services to the general public.
Services
AGD has 77 branches and 65 foreign exchange counters throughout Myanmar, operating across Corporate, Retail, and International Banking.
The bank is headed up by Htoo Htet Tay Za, who became managing director in 2015.{{cite news|url=https://www.euromoney.com/article/b12khpkk1xpq6n/htoo-htet-tay-za-myanmar39s-millennial-banker|title=Htoo Htet Tay Za: Myanmar's millennial banker|work=Euro Money|access-date=30 July 2019}} In 2016 AGD Bank partnered with TrueMoney to offer customers mobile banking.{{cite news|url=https://www.mmbiztoday.com/articles/agd-true-money-partner-provide-mobile-money-transfer-services|title=AGD, True Money Partner to Provide Mobile Money Transfer Services|work=Myanmar Business Today|access-date=30 July 2019}}
In 2017, AGD Bank became the first bank in Myanmar to accept EMV based UnionPay card transactions at its ATMs.{{cite news|url=https://www.mmtimes.com/news/local-bank-becomes-first-accept-smart-payment-card-transactions.html|title=Local bank becomes first to accept smart payment card transactions|work=Myanmar Times|access-date=30 July 2019}} AGD launched three AGD Visa cards in September 2018, the Visa Classic Card, Visa Gold Card and Visa Platinum Card.{{cite news|url=https://www.mmtimes.com/news/agd-launches-3-types-visa-credit-card.html|title=AGD launches 3 types of visa credit card|work=Myanmar Times|access-date=30 July 2019}}
See also
{{Portal|Banks}}