Congratulations to the Board of Directors, Shareholders, Employees, and Colleagues of Myanma Tourism Bank (MTB) on a Remarkable FY23-24!

Dear Colleagues,

As the financial year-end reporting is completed, I’d like to take this opportunity to extend my sincere thanks and appreciation to all MTB staff for their dedication and hard work, who took the time to think of new ways of improving MTB over the challenging period of FY23-24!

I am thrilled and immensely proud to share the outstanding achievements and contributions of MTB employees. Your unwavering dedication, resilience, and hard work have propelled our bank to new heights, and it’s very grateful for your exceptional efforts.

MTB Financial Performance Highlights:

• Interest Income increased by an impressive 40%
• Fees and Commission Income soared by a remarkable 140%
• Net Interest Income (NII) showed a remarkable improvement of 135%
• Revenue surged by an incredible 140%
• Net Interest Margin (NIM) rose to 3.60%, showcasing asignificant improvement of 2.00%
• Interbank Income experienced a remarkable increase of 125%
• Effective Liquidity Ratio stands strong at 25%
• CAR Ratio (Tier-1) achieved an impressive 11.5% with Tier-2 Ratio at 13%

These remarkable financial achievements reflect the unwavering commitment, expertise, and strategic vision of each one of you. Your dedication to delivering extraordinary services and fostering strong relationships has paved the way for our success.

Sharing the Good News:

I am thrilled to share the outstanding achievements and milestones that Myanma Tourism Bank (MTB) has accomplished during the most challenging and transformative period of the financial year 2023-24. I am delighted to highlight some of the key initiatives and partnerships that have contributed to our success:

1. New Foreign Correspondence Relationships: MTB has established a valuable partnership with Siam Commercial Bank (SCB)from Thailand, expanding our international network and strengthening our global presence. Additionally, our collaboration with Money Gram for international and workers’ remittances signifies our commitment to providing efficient and accessible financial services to our customers. These strategic alliances will open new doors of opportunity and further strengthen our position in the global market.

1. MTB Pay Mobile Wallet: We have soft-launched MTB Pay, a new digital wallet that offers convenience, security, and seamless digital payment solutions to our customers. This initiative reflects our dedication to embracing digital innovation and enhancing the banking experience for our clients and we have already received a pilot license from the Central Bank of Myanmar.

1. Agency Banking Services: MTB has ventured into agency banking services, extending our reach and accessibility to underserved communities and remote areas. This initiative underscores our commitment to financial inclusion and empowering individuals with convenient banking services.  We have contributed door-to-door cash delivery services to Non-Profit Organizations, NGOs, and INGOs during FY23-24.

1. Digital Ecosystem Partnerships: We have forged strategic partnerships with Dinger, JITS, OK$, MyTel, Quick Food, Hayman Micro Finance, and Maha Bawga Finance companies to integrate our digital banking and agent banking ecosystem. These collaborations will enable us to offer a comprehensive range of digital financial services and expand our footprint in the digital banking landscape.

Appreciation and Gratitude:

To our shareholders, thank you for your unwavering trust, support, and belief in our vision. Your investment and confidence have been instrumental in our success, and we are committed to delivering significant returns and value.

To our dedicated employees and colleagues, your commitment, resilience, and passion have been the driving force behind our achievements. Your unwavering dedication to excellence, teamwork, and customer satisfaction have set the bar high for the entire industry. Each and every one of you is an invaluable asset to MTB, and I am truly grateful for your hard work and contributions in driving MTB’s success and growth.

Celebrating Success:

Let us celebrate this remarkable milestone together as we look back on the achievements of the past financial year. Your dedication, perseverance, and commitment to excellence have made all of this possible. Together, we will continue to push boundaries, innovate, and deliver exceptional banking services to our valued customers.

As we celebrate these remarkable achievements, I extend my heartfelt congratulations and sincere appreciation to every one of you. Your resilience, creativity, and relentless pursuit of excellence have positioned MTB as a leader in the tourism industry, and I am confident that our collective efforts will continue to drive our success in the future.

I’m looking forward to several important initiatives on the horizon in FY24-25.  We’ll unveil our new strategy for helping the tourism sector as well as SMEs which will build on our important work in Myanmar’s financial sector.  Our initiatives will continue to push digital financial services and data for development.  Better financial goals and development outcomes are within reach, but it will take every ounce of our talent, ingenuity, and resolve and we must approach the challenge with a sense of urgency.

As I have always said, MTB staff are our greatest asset. With the right mindset and determination, we can uncover great ideas and give them a chance to blossom.

Together we are Stronger—Yes We Can!

With the utmost appreciation and warm regards,

Win Lwin
Chief Executive Officer
Myanma Tourism Bank