Aya Bank
In an emerging economy where an estimated 90 to 95 out of every 100 registered businesses are small and medium-sized enterprises (SMEs), Zaw Zaw’s Ayeyarwady Bank wins plaudits from its peers for its lively SME business.
Aya’s tactic has been to partner with multilaterals, development finance institutions and aid agencies, providing a leg-up to Myanmar’s emerging small business community. For example, Aya has teamed up with the state-backed German Investment Corporation (DEG-KfW), as well as the United States Development Credit Agency and Japan’s JICA to identify customers and provide loans with agency support. The French government’s development wing, AFD-Proparco, is also a partner, as is the Asian Development Bank.
Today, SMEs account for 16% of Aya’s total loan book, and the bank expects that level to double by 2022 as Myanmar moves closer to middle-income status.