Asia Green Development Bank

What Asia Green Development Bank does

Asia Green Development Bank (AGD Bank) is a Myanmar-based public commercial bank headquartered in Yangon at Sule Pagoda Road, Kyauktada Township. Founded in 2010 as one of four private banks in Myanmar, it became a public commercial bank in February 2013 and was restructured and rebranded in 2015 under Managing Director and CEO U Htoo Htet Tay Za. The bank operates 77 branches nationwide supported by 90+ ATMs, serving approximately 700,000+ retail and corporate customers with 1,700+ employees (61% women).

AGD's product suite spans personal banking (EZY Savings, Normal Fixed Deposit up to 12% p.a., KYO U Fixed, home loans, personal loans, MPU/UnionPay debit and VISA credit cards) and corporate banking (Business Call, SME Call, SME loans, business loans, project financing, trade finance, SWIFT-based international remittance, cash management, and payroll). Digital channels include a mobile banking app (AGD Go launched 2020), internet banking, and the Genie Bot chatbot (2019) delivered through an Onepay partnership. The core banking platform runs on Infosys Finacle, making AGD the first Myanmar bank to deploy that engine, which underwrote several "firsts" including the country's first EMV-certified ATM transaction and first QR payment mobile application.

Revenue is generated through traditional banking interest income (loans and deposits), transaction and service fees (remittance, trade finance, guarantees, cash management), card services (MPU, UnionPay, VISA), and foreign currency exchange. Pricing on retail deposits is competitive within the Myanmar market (e.g., 12% p.a. on 12-month fixed deposits, 11.50% on KYO U 12-month). The bank pursues a hybrid go-to-market combining branch-led relationship banking for retail and SME with dedicated corporate banking teams and digital self-service channels.

Name

Asia Green Development Bank

Legal name

AGD Bank, Ltd.

Website

https://agdbank.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro industry

PRIMARYFSABABAC

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

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

SECONDARYFSAMAGAG

Corporate Cash Management & Treasury ACH

Financial & Insurance/Payments & Transaction Processing/ACH & Direct Debit Processing

Keywords

• Commercial banking services
• Personal savings accounts
• Sme business loans
• Trade finance services
• Digital mobile banking

Headquarters

HQ city

Yangon

HQ country

Myanmar (Burma)

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Traditional banking interest income from loans including SME loans, business loans, project financing, short term financing, working capital financing, overdraft facilities, hire purchase, and term loans. Also interest from deposits including fixed deposits, savings accounts, and call deposits.
2. Transaction and Service Fees: Fees from banking services including remittance services (local and international SWIFT), trade finance (import/export letters of credit), bank guarantees, bid bonds, cash management services, payroll management, and payment orders.
3. Card Services: Revenue from MPU Debit Cards, UnionPay cards, and credit card services through merchant partnerships and card usage fees.
4. Currency Exchange: Revenue from foreign currency exchange services for corporate and retail customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

AGD Bank is a Myanmar-based public commercial bank providing personal and corporate banking products and services through 77 branches, 90+ ATMs, and digital channels. Its core offerings include personal savings and fixed deposit accounts, debit and credit cards, personal and home loans, corporate/SME accounts, SME and business loans, trade finance, remittance, and cash management services, supported by mobile and internet banking platforms.

Product overview

Asia Green Development Bank (AGD Bank) is a Myanmar-based commercial bank offering a comprehensive suite of personal and corporate banking products. The bank operates a platform-plus-modules architecture with core Personal Banking and Corporate Banking divisions supported by specialized products. Personal banking includes EZY Savings accounts (standard and Plus variants), Normal Fixed Deposits (up to 12% p.a.), KYO U Fixed accounts, and MPU/VISA debit and credit cards. Corporate banking offers Business Call and SME Call accounts, various loan products (SME, Business, Project Financing, Term Loans), and Trade Finance services. Digital banking is delivered through Mobile Banking (Android APK), Internet Banking, and Onepay partnerships. The bank also provides AGD Go mobile app, Genie Bot chatbot, international and local remittance via SWIFT, foreign currency accounts, and cash management services.

Differentiator

Problem solved

Functional benefit

Brands

• grow: Corporate Social Responsibility (CSR) program committed to safeguarding communities and the environment, focusing on water facilities, tree planting, environmental issues, and infrastructure across Myanmar.
• Onepay

Products and services

• Personal Banking Personal banking services including savings accounts, fixed deposits, debit and credit cards, personal loans, home loans, and digital banking for individual customers in Myanmar.
• Corporate Banking Corporate banking services including business accounts, SME loans, business loans, project financing, trade finance, foreign currency accounts, remittance, cash management, and payroll services for businesses of all sizes.
• AGD EZY Savings Account Personal savings account offering monthly interest at 8.7% p.a. with a minimum deposit of MMK 10,000, linked to an AGD MPU debit card with merchant discounts.
• EZY Savings Plus Account Enhanced personal savings account with tiered interest rates (up to 10.25% p.a. for balances of MMK 1,000,000 and above) and a minimum deposit of MMK 500,000.
• Normal Fixed Deposit Account Personal fixed deposit account in Myanmar Kyat with tenures from 1 to 12 months and guaranteed returns up to 12% p.a.; minimum initial deposit of MMK 100,000.
• KYO U Fixed Deposit Account Fixed deposit account that pays full interest upfront at the time of deposit; 11% p.a. for 6 months and 11.50% p.a. for 12 months, with a minimum deposit of MMK 500,000.
• Business Call Account Corporate call deposit account earning 4.00% p.a. interest with no service charges, free unlimited cash withdrawals, free interbank transfers, free electricity bill payments, and a minimum deposit of MMK 10,000.
• SME Call Account Call deposit account tailored for SMEs with multiple free services including unlimited intra-bank transfers, free utility bill payments, and free domestic remittances to reduce financial management costs.
• MPU Debit Cards Myanmar Payment Union debit cards, including standard and Platinum variants, that offer discounts at partner merchants across hospitality, dining, and retail sectors.
• AGD VISA Credit Card VISA-branded international credit card launched by AGD Bank in 2018 for retail customers.
• AGD Go Mobile Application Mobile banking application launched by AGD Bank in 2020 for mobile banking services.
• Genie Bot Chatbot Chatbot launched in 2019 through partnership with Onepay for customer service automation.
• Mobile Banking App (mBanking) Android mobile banking application for account management, transactions, and bill payments.
• Internet Banking Platform Web-based online banking platform for account access, transfers, and financial management.
• Home Loan Personal housing loan product for home purchase and construction.
• Personal Loans Personal loan products for various individual financing needs.
• SME Loans Business loans for small and medium enterprises, including various financing structures such as working capital, term loans, and overdraft facilities.
• Trade Finance Import and export letter of credit services for international trade transactions.
• International Remittance (SWIFT) Cross-border money transfer services via SWIFT network for international transactions.
• Local Remittance Domestic money transfer services within Myanmar.
• Merchant Services Payment processing services for merchants accepting card transactions.
• Onepay Digital Payment Platform Digital payment platform offered in partnership providing additional payment and transaction capabilities.

Quantifiable outcome

• Reached 1 Trillion MMK in retail deposits in 2020
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Six partnerships are on record, tiered supporting and core.

• Forest Recover Interestor (FRI)supportingStrategic or Co-development Partner · 13 June 2026Joint donation partnership for ensuring clean and sufficient water supply for local communities. Donated funds for 'water reservoir restoration and preservation project' at four villages in Pathein Township, benefiting communities with sustainable water access.
• Myanmar Information Technology Pte LtdcoreTechnology or Integration · 30 March 2026Strategic partnership for 'Total Banking Solution Implementation' - Core Banking Transformation to upgrade banking systems. Contract signing ceremony held at LOTTE Hotel Yangon on March 30, 2026. This represents a significant milestone in AGD Bank's digital journey.
• Rakhine Community Association, Rakhine Thahaya (Yangon)supportingStrategic or Co-development Partner · 7 June 2023Partnership for Cyclone Mocha relief efforts in Rakhine State. Jointly provided aid to 300 households in Dompey Village, Kandai Aung Village, and Koetankout Village in Rati Taung Township.
• Asia Royal HospitalsupportingStrategic or Co-development Partner · 26 August 2021Healthcare partner facilitating COVID-19 vaccination program for AGD Bank employees. Vaccination program held at Yangon United Football Club venue.
• OnepaycoreTechnology or Integration · 1 January 2019Banking partnership for digital payment services. Launched Genie Bot in 2019 as part of the partnership to enhance digital banking experience for customers.
• Infosys FinaclecoreTechnology or Integration · 1 January 2016First bank in Myanmar to adopt Infosys Finacle Core Banking Engine, enabling advanced digital banking capabilities including the first QR payment mobile application and first EMV-certified ATM transaction in Myanmar.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• AYA Bank: Major Myanmar private commercial bank with full-service retail and corporate offerings including savings, loans, trade finance, and digital banking — a head-to-head competitor to AGD in the same domestic market.
• KBZ Bank (Kanbawza Bank): Myanmar's largest private commercial bank, offering retail deposits, SME lending, corporate banking, and trade finance. Directly competes with AGD across all major product lines and customer segments in the Myanmar market.
• UAB Bank (United Amara Bank): Myanmar private commercial bank offering retail deposits, consumer loans, and SME/corporate banking services — closely comparable to AGD in scale and product mix.
• Myanma Economic Bank: State-owned commercial bank in Myanmar handling deposits, lending, and trade-related transactions — competing with AGD especially in corporate and government-linked banking segments.
• Yoma Bank: Listed Myanmar commercial bank with retail, SME, and corporate banking products — a directly comparable peer with similar segment coverage and digital banking focus.
• CB Bank (Co-operative Bank): Public commercial bank in Myanmar providing retail deposit accounts, SME and corporate lending, and trade finance — competing directly with AGD for the same retail and SME customer base.

Broad incumbents

• Bangkok Bank: Large Thai regional incumbent with international branches including Myanmar operations, offering retail, SME, and corporate banking — comparable as a broader incumbent with regional scale rather than Myanmar specialization.
• Siam Commercial Bank (SCB): Thai universal bank with regional presence including Myanmar; offers retail, SME, and corporate banking comparable in product breadth to AGD but at much larger scale and with diversified geography.
• Maybank: Malaysian regional bank with ASEAN-wide operations including Myanmar presence, providing retail and commercial banking products that overlap with AGD's offerings at a broader, multinational scale.
• DBS Bank: Singapore-headquartered regional incumbent with digital banking leadership and ASEAN-wide footprint including Myanmar — comparable as a much larger, technology-forward incumbent with overlapping retail and corporate capabilities.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/AGDBank
• Xx.com/agdbank
• LinkedInlinkedin.com/company/asia-green-development-bank-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 Asia Green Development Bank