BNK Capital becomes latest Korean lender to suspend biz in Myanmar

2021.02.18 14:44:57

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South Korean BNK Financial Group’s subsidiary BNK Capital Myanmar Co. suspended its business in Myanmar amid social unrest after the country fell under military control following a coup against civilian government.

BNK Capital Myanmar closed all outposts, including the central Yangon branch, to ensure safety of its employees and customers, BNK Financial Group said Wednesday.

Minimum number of staffers will keep office, but when business will normalize remain uncertain, it said.

Since opening its first branch in Yangon in March 2014, BNK Capital Myanmar has been operating 40 branch offices in major Myanmar cities with total 658 local employees.

The Yangon branch office of Busan Bank under BNK Financial Group is open, but also can close down if situation worsens.

Most of the other Korean financial institutions in the country have also suspended their business.

By Pulse

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