Tun Commercial Bank

What Tun Commercial Bank does

Tun Commercial Bank (also known as Tun Foundation Bank) is a privately held commercial bank headquartered in Yangon, Myanmar, founded in 1994 by U Thein Tun and operated as a subsidiary of the MGS Group of Companies. The bank serves individual, corporate, and international clients through three product lines — Personal Banking, Corporate Banking, and International Banking — offering deposit products (savings at 8.5%, fixed deposits at 9–10%, foreign currency accounts in USD/EUR/SGD), lending (overdraft, gold, educational, housing, and staff loans), trade finance (LC, BG, documentary bills), and remittances (domestic via CBM-NET, international via SWIFT, Moneygram, and Singapore Post).

The bank runs its entire operations on Oracle's Flexcube Core Banking System, which it deployed in phases starting May 2014 and completed across all branches by September 2016, enabling any-branch banking, instant inter-branch fund transfers, and a public Internet & Mobile Banking platform launched in December 2016. Distribution is anchored by 22 branches spread across Myanmar's major commercial and regional centers, complemented by MPU-member ATM cards accepted across the country.

The revenue model is that of a traditional spread-and-fee bank: net interest income from the deposit-to-loan spread (with deposit rates of 8.5–10% reflecting Myanmar's high-rate environment), supplemented by fees from trade finance, FX conversion, international remittances, bulk salary processing, and standing-instruction services. The bank holds an authorized dealer license issued by the Central Bank of Myanmar in late 2012, which is the gating credential for offering foreign exchange, foreign currency accounts, and inward/outward remittances for foreign businesses — a capability that differentiates it among Myanmar's private banks.

Name

Tun Commercial Bank

Legal name

Tun Foundation Bank

Website

https://tuncommercialbank.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

Tun Commercial Bank is a private Myanmar commercial bank founded in 1994, serving personal, corporate, and international clients across 22 branches with deposits, lending, trade finance, and remittance services on Oracle Flexcube.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211)

SIC

Commercial Banks, Nec (6029)

akta.pro industry

PRIMARYFSABABAA

General SME & Middle-Market Commercial Banking

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Commercial Banking (SME & Middle Market)

SECONDARYFSABABAC

SME Deposits & Business Accounts (Operating, Savings, CDs)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Commercial Banking (SME & Middle Market)

SECONDARYFSABABAF

SME Trade Finance & Working Capital (LCs, Guarantees, Receivables)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Commercial Banking (SME & Middle Market)

SECONDARYFSABAAAA

Mass-Market Consumer Deposit Banking (Checking/Savings)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Retail Banking

Keywords

• Retail banking services
• Corporate banking services
• International trade finance
• Foreign exchange services
• Cross-border remittances

Headquarters

HQ city

Yangon

HQ country

Myanmar (Burma)

HQ region

Asia

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Others

Revenue model

1. Interest Income from Lending: Traditional banking interest income from various loan products including Over Draft, Gold Loan, Pledge/Hypothecation loans, Educational Loans, Housing Loans, Staff Loans, and Normal Loans.
2. Deposit Account Fees and Interest Spread: Income from interest rate spread between savings (8.5%), current (nil), fixed deposits (up to 10%), and foreign currency accounts.
3. Trade Finance Services: Fees from Letter of Credit issuance, Bank Guarantee issuance, Documentary bills collection/Discounting, and export/import related services.
4. International Banking Services: Income from inward and outward remittances, foreign exchange transactions, and services for foreign investors including paid up capital and profit repatriation.
5. E-Banking Services: Fees from bulk salary payments, cheque services, standing instructions, and various digital banking transaction services.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

Tun Commercial Bank is a private commercial bank in Myanmar offering deposit products (savings, current, fixed deposits, foreign currency accounts, call deposits), lending products (overdraft, gold, education, housing, and personal loans), trade finance services (letter of credit, bank guarantees, documentary bills), domestic and international remittances, and foreign exchange services. The bank operates 22 branches across Myanmar and provides 24/7 internet and mobile banking through Oracle Flexcube core banking infrastructure.

Product overview

Tun Commercial Bank (Myanmar) operates as a private commercial bank established in 1994, offering a comprehensive suite of banking services through Personal Banking, Corporate Banking, and International Banking divisions. The bank provides deposit products (savings, current, fixed deposits, foreign currency accounts, call deposits), lending products (overdraft, gold loans, educational loans, housing loans, staff loans), remittance services (domestic via CBM-NET, international via SWIFT and Moneygram), trade finance (LC, BG, documentary bills), and e-banking channels (Internet Banking, Mobile Banking, Online Payment). The bank completed full computerization using Oracle's Flexcube core banking system, enabling cross-branch banking and real-time inter-branch transactions. Currently operates 22 branches across Myanmar with plans for further expansion.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Banking Individual banking services including savings accounts, current accounts, fixed deposits, foreign currency accounts, domestic and overseas remittances, loans/overdraft, and ATM services for personal customers.
• Corporate Banking Business banking services covering savings accounts, current accounts, fixed deposits, foreign currency accounts, domestic and overseas remittances, trade finance, and loans/overdraft for business clients.
• International Banking Full range of products and services for local and foreign businesses, including authorized dealer license services, foreign exchange in USD/EUR/SGD, inward and outward remittances, and trade finance.
• Internet Banking Online banking platform enabling consolidated account views, statement downloads, fund transfers within bank and to other banks via CBM-NET, standing instructions, bill payments, bulk salary uploads, cheque management, and trade finance support.
• Mobile Banking App Smartphone banking application for account statement viewing, transaction alerts, fund transfers, and mobile access to banking services.
• Savings Account Interest-bearing deposit account with 8.5% interest rate, MMK 1000 minimum deposit, monthly interest calculation on minimum balance, quarterly application, with ATM and internet banking access.
• Current Account Non-interest bearing account for business/commercial purposes with cheque book facilities.
• Fixed Deposit Term deposits with tiered interest rates: 9% for 1 month, 9.25% for 3 months, 9.5% for 6 months, 9.75% for 9 months, and 10% for 1 year and above.
• Foreign Currency Account Multi-currency accounts for individuals and entities supporting USD, EUR, and SGD with USD 100 minimum deposit requirement.
• Call Deposit Flexible deposit earning 4.50% interest below Kyat 10 Million and 8.25% above Kyat 10 Million on accumulated daily closing balance with unlimited withdrawals.
• Lending Products Loan products including Overdraft, Gold Loan, Pledge/Hypothecation base loan, Educational Loan, Housing Loan, Staff Loan, Normal Loan, and Non-Government Staff Loan (NGSL).
• Trade Finance Export/Import services, Letter of Credit issuance, Bank Guarantee issuance, and Documentary bills collection/discounting.
• Inward Remittances Agent services for Moneygram and Singapore Post for receiving funds from overseas, including paid-up capital, office expenses, and personal remittances.
• Outward Remittances International payment services for imports, services/fees, profit repatriation, and trade finance, authorized by banks with legitimate business documentation.
• Foreign Exchange Currency exchange services at select centers for USD, EUR, and SGD at competitive rates.
• TCB Online Payment Online bill payment platform enabling customers to pay various vendors and bills digitally.

Quantifiable outcome

• 22 branches nationwide providing local access
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• OraclecoreTechnology or Integration · 1 January 2014Oracle's Flexcube Core Banking system implementation. The bank signed a deal for Oracle's state-of-the-art Flexcube system including internet, smartphone, and SMS banking solutions. Completed 100% migration of all branches to this system.
• MoneygramcoreChannel Partner/ Reseller/ DistributorThe bank is an agent for inward remittances for Moneygram, enabling customers to receive international money transfers through this global network.
• Singapore PostminorChannel Partner/ Reseller/ DistributorThe bank is an agent for inward remittances for Singapore Post, providing alternative channel for international transfers.
• First Private BankminorChannel Partner/ Reseller/ DistributorCorrespondent banking arrangement with First Private Bank enabling fund transfers between any branches of Tun Commercial Bank and First Private Bank.
• Myanmar Payment Union (MPU)coreTechnology or IntegrationThe bank is a member of Myanmar Payment Union, enabling ATM card acceptance at any ATM machine in the country.
• Central Bank of Myanmar (CBM)coreStrategic or Co-development PartnerCBM-NET interbank fund transfer system connection for nationwide interbank transfers. Also operates under authorized dealer license from Central Bank.

Scale indicators4 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• Myawaddy Bank: Long-standing Myanmar commercial bank with personal and corporate banking services. Historically state-linked and provides benchmark for local commercial bank product range overlapping Tun Commercial Bank.
• Yoma Bank: Myanmar private commercial bank with personal, SME, and corporate banking offerings plus international banking capabilities. Comparable target segments and Authorized Dealer-grade services.
• KBZ Bank (Kanbawza Bank): Myanmar's largest privately-held commercial bank offering personal, corporate, and international banking. Most directly comparable peer operating in the same Myanmar private commercial banking segment as Tun Commercial Bank with significantly larger scale.
• CB Bank (Co-operative Bank): Established Myanmar private commercial bank providing deposit products, lending, trade finance, and international remittances. Comparable product mix and SME/middle-market focus.
• AYA Bank: Major Myanmar private commercial bank offering personal, corporate, and international banking services including trade finance. Closely comparable product set and target customer base to Tun Commercial Bank, with a larger branch network.
• Asia Green Development Bank (AGD Bank): Myanmar private commercial bank offering deposit, lending, and digital banking services. Comparable SME and personal banking focus though smaller in branch footprint.
• United Amara Bank (UAB): Myanmar private commercial bank offering retail, corporate, and trade finance services. Closely comparable in scale and product breadth to Tun Commercial Bank within the same Myanmar private banking market.

Emerging players

• Innwa Bank: Smaller Myanmar private commercial bank with deposit and lending products. Comparable product set but smaller scale; useful as emerging-peer comparison.

Broad incumbents

• Maybank (Myanmar): Regional Malaysian banking group with Myanmar operations. Provides broad incumbent comparison for cross-border banking, FX, and trade finance capabilities at greater scale.
• Bangkok Bank: Large Thai regional bank with correspondent banking reach across Southeast Asia. Useful broad-incumbent comparator for trade finance and SWIFT-enabled international payments services.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/tunfoundationbanklimited
• LinkedInlinkedin.com/company/tun-commercial-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tun Commercial Bank