24th Oct 2019, Yangon.
Hayman Capital Co., Ltd (Microfinance Institution) has signed a new loan facility of MMK 10 Billion 3-year term loan with Asian Green Development (AGD) Bank Ltd. All regulatory approvals from the Financial Regulatory Department of the Ministry of Planning and Finance have been received.
The received fund of MMK 10 Billion, equivalent of US$ 6 Million is to be disbursed to serve and support the economic growth of over 28,000 clients in 19 Townships located across Yangon, Ayawaddy, Bago and Mandalay Regions. The funds will also be used to accelerate operations in new branches in Nay Pyi Taw, Sagaing and Magway Regions.
“It is a great pleasure to start cooperation with AGD Bank which is one of most dynamic banks in Myanmar. The loan bank offered is the first debt raised locally and the total amount of the loan is biggest we borrowed so far. We are grateful for their intention to extend a hand in our efforts on delivering the demand-driven financing to the rural and underbanked population of Myanmar and female-led businesses to help them grow” – Mr. Sultan Marenov, Chairman of the Board of Directors of Hayman Capital Co., Ltd.
U Pyi Soe Htin, Chief Business Officer, AGD Bank Ltd, says “We are pleased to be working with Hayman Capital Co. Ltd on the signing of this term-loan finance agreement to support economic growth in Myanmar. AGD Bank’s vision is to provide to provide vitally important banking infrastructure to make a lasting impact on the future businesses in Myanmar and this agreement will make a big impact on those that need it the most.”
Hayman Capital Co., Ltd has seen a rapid geographical, clientele and loan portfolio expansion in the financial services industry over the four years in Myanmar. With over 120,000 Active Clients, Loan Portfolio of US$20 million, Total Assets of US$ 22.75 million and Equity over US$ 11 million, Hayman is a Top-10 MFI in Myanmar in terms of paid-up capital.
Hayman Capital Co., Ltd, a deposit-taking Microfinance Institution, is a 100% subsidiary of the Singapore-based international Investment and Financial Group – Hayman Capital Pte. Ltd. The Company was established in 2014 and it disbursed its first loan in July 2015. Currently, it has 19 branches across 4 regions in Myanmar.
Asia Green Development Bank Limited (AGD Bank) opened its head office and first branch in August 2010 in Nay Pyi Taw. AGD Bank aims to deliver banking excellence through inspired and outstanding customer service, while offering innovative products and services that meets clients’ requirements.
Today, AGD Bank has 77 branches throughout Myanmar and International Banking Division that operates international remittance services, foreign exchange and agent banking operations. Under the leadership of Managing Director U Htoo Htet Tay Za, AGD Bank continually seeks to offer new products and services such as AGD Pay, UnionPay Debit card, Visa Credit card and MPU Debit Card to its banking clients for seamless transactions and reducing the time spent to perform banking transactions.
AGD’s vision is to provide the vitally important banking infrastructure that will make a lasting and sustainable impact to the future for Myanmar by building strong economic foundations for progressive growth. More information can be found at www.agdbank.com