Full operations
In August 2012, the Central Bank of Myanmar reinstated Yoma Bank with a full banking license.[8] Yoma Bank Chairman Pun stated the goal for the future development of the bank is "to be of international standard [yet a] local bank."[5] To accomplish this, Yoma Bank began employing foreign managers and returning Burmese from abroad[9] and focusing its service on small and medium-sized enterprises (SMEs).[10] The International Finance Corporation (IFC), member of the World Bank Group, announced in May 2014 the long-term plan to promote the Yoma Bank in its SME lending program with a loan of over $30 million.[11]
In August 2014, Yoma Bank employed more than 2,200 employees in 51 branches.[8] After signing the contract with the IFC, the bank received the first $5 million for its SME program in September 2014. Additionally, the IFC agreed to assist Yoma Bank with installing a new core banking system and improving the bank's risk management and corporate governance.[12]
In November 2014, Yoma Bank and the telecommunications firm Telenor Myanmar announced their cooperation to provide mobile banking to Myanmar.[13] The aim of the cooperation is to provide the non-banked access to financial services.[14]
For the transformation of their core banking system, Yoma Bank decided in March 2015, to utilize "FusionBanking Essence" software from the British provider Misys.[15]
Because of Yoma Bank's access to SMEs and international banking standards, the German development agency GIZ selected Yoma Bank in May 2015 as a partner for its program to promote SMEs in Myanmar.[16]
In 2018, Yoma Bank introduced a new bank account service named JZü. JZü is a prize-linked account to encourage the habit of depositing money into bank accounts among the public. On top of a 3% annual interest rate, which is calculated daily and paid monthly, each account is included in a monthly draw for a chance to earn double the monthly minimum balance. To qualify for the monthly draw, JZü account holders will need to maintain a MMK 200,000 minimum balance in their account.[17]
As of 2023, Yoma Bank has over 3,100 employees in its operations with over 81 branches nationwide.[18]
