Myanmar Citizens Bank (MCB) announced in a press release on December 29 that five branches have been closed and three new branches have been opened.

It was approved by the Central Bank of Myanmar and the investors and shareholders were being informed, it said.

The five bank branches that were closed are Monywa branch in Sagaing Region, 105 miles Muse Bank Branch (1) in northern Shan State, Bank Branch (4) from Mahaaungmyay Township in Mandalay, Taze and Zigon Bank Branches in Sagaing Region.

It is reported that the MCB has closed Monywa branch and Muse Bank Branch (1) on October 9, 2020.

Similarly, Mandalay Bank Branch (4) was closed on March 25 this year and Taze and Zigon Bank Branches were also closed on December 7 this year.

The newly opened branches are in PyinOoLwin Township, Mandalay Region, Kamakyi Bank Branch in Thingangyun Township, Yangon Region and Hinthada Township, Ayeyawady Region.

The MCB announced that the Pyin Oo Lwin branch was opened on August 19, 2022, Kamakyi Bank Branch on November 1 and Hinthada branch on December 26.