On 30th November 2021, the Annual General Meeting of the Farmers Development Bank – Mandalay (FDB Bank) was held at the Farmer Development Bank’s head office, located at Times City Office Tower and the meeting was held from 10 AM to 1 PM. The details of the meeting are as follows.
Managing director of FDB Bank, U Win Lwin, and senior management team members have attended the annual general meeting in person. Due to the current ongoing global pandemic, COVID-19 spread out, all of the shareholders and FDB Bank’s Chairman and Founder U Sai Myo Win virtually attended the meeting.
The report stated that the past fiscal year was overshadowed by the COVID-19 pandemic which was outbreak 3 times in the country in the year 2021 and continuing as diverse mutations of it still evolving and had several severe exceeding effects for the banking and financial sectors. But it was also discovered that FDB Bank was able to stand as a new provisional bank approved by the Central Bank of Myanmar (CBM) in early 2020 and still growing in progress up until now. Starting from day one, FDB Bank was in a viable position to transform the existing conditions of Myanmar’s Banking sector by digitizing all the banking processes and introducing data-driven and sustainable products and portfolios that will be relevant to general population of Myanmar.
During the meeting, one of AGM’s board of directors presented 2011-2022 annual plan and assigned important board members, other board committee, and management committee for FDB Bank, after which CEO highlighted that, “We are aiming to open FDB Bank’s first ever branch by the end of December 2021 and start the bank’s operation with the help of all the FDB Bank’s headquarter and branch staffs”.
Meeting was successfully finished after determining future development strategies along with the ending speech of CEO, “We will bring up our purpose to create digital banking excellence for everyone by delivering digital oriented services to our customers. We will also try to become a norm by getting along with the country’s economic situation and social policies. I request all of our board of directors, management of the bank, bank committee members, and bank employees to work collaboratively to deliver a great benefit to our customers and shareholders.”