BUSINESS IN RANGOON

[moe@xxxxxxxxxxxxx]

SOURCE:LEXIS-NEXIS

                        FROM XINHUA NEWS SERVICE
November 16, 1999, Tuesday 03:19 AM Eastern Time

LENGTH: 128 words

HEADLINE: MYANMAR MAYFLOWER BANK OPENS 15TH BRANCH

DATELINE: YANGON, NOVEMBER 16

BODY:
   THE MYANMAR MAYFLOWER BANK (MMB) LIMITED, ONE OF THE LEADING PRIVATE
BANKS IN THE COUNTRY, OPENED ONE MORE BRANCH ON MONDAY IN YANGON, BRINGING
THE TOTAL NUMBER OF ITS BRANCHES TO 15 IN THE NATION.

THE BRANCH IS ALSO THE SEVENTH OF THE MMB IN THE CAPITAL, THE NEW LIGHT OF
MYANMAR REPORTED TUESDAY.

THE MMB LTD IS ALSO PLANNING TO OPEN SIX MORE BRANCHES IN THE TOWNSHIPS OF
MONYWA, MUSE, KENGTUNG, MYINGYAN, MEIKTILA AND HLINETHAYA BEFORE THE END OF
THIS YEAR, THE REPORT SAID.

THERE ARE 19 PRIVATE BANKS IN MYANMAR PROVIDING DOMESTIC COMMERCIAL BANKING
SERVICES AND THE BANKS HOLD ABOUT 45 PERCENT OF SAVINGS DEPOSITS OF THE
BANKING SECTOR, WHILE THEIR LOANS ACCOUNT FOR ABOUT 48 PERCENT OF THE
SECTOR'S LOANS TO THE PRIVATE SECTOR.


LANGUAGE: ENGLISH

LOAD-DATE: November 16, 1999