Bangkok Bank, Thailand’s largest lender by assets, has obtained permission from the Central Bank of Myanmar to debut its banking operations in Myanmar.

The foreign bank branch license will enable the Thai lender to open its maiden branch in Yangon, the capital city of Myanmar on 2 June 2015.

The new branch will provide a full range of financial services covering deposits, business lending, trade services, transferring funds and foreign exchange services for foreign-invested companies and domestic banks in Myanmar in both foreign currencies and Myanmar Kyat.

The Yangon branch will facilitate the development of the local financial system to support the growth of potential businesses and industries by connecting with the bank’s international network and.

The branch will be headed by senior vice president and branch manager Kanet Buranasin and assistant vice president and marketing manager Tossatis Rodprasert.

Bangkok Bank was one of nine foreign banks and the only Thai bank to receive preliminary approval in October 2014 for a license to commence banking operations in Myanmar.