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UOB has won Myanmar limited banking license: source

[SINGAPORE] United Overseas Bank, Singapore's third-biggest bank by assets, has won a limited banking licence in Myanmar, a source with direct knowledge of the matter said.

A UOB spokeswoman declined to comment.

The source declined to be identified before a public announcement from Myanmar's central bank, which is expected to unveil the results of the bidding later in the day. Between five to 10 banks are set to gain a licence.

UOB has had a representative office in Myanmar since 1994. - Reuters