Commercial Credit currently has nearly 10,000 customers in Myanmar.Egodage said he decided to sell shares to GL because of strict restrictions by the Sri Lankan authorities on capital outflows.BG Microfinance Myanmar is a small firm with a total portfolio of US$1.5 million (Bt52 million) in group loans (five borrowers per group each borrowing $200). Although small, the operation provides a monthly profit of $20,000, GL's Konoshita said.For GL, Myanmar is the fifth country in its regional footprint. Loan maturity is fixed at 50 weeks and debt collection is made on a weekly basis. Furthermore, authorities are not giving out any new microfinance or hire-purchase licences. Therefore, it is a great opportunity for GL to expand its market share.GL recently announced net profit in the second quarter of Bt255.85 million, raising its total first-half profit to Bt478 million.

Source: The Nation Bangkok September 07, 2016 18:00 UTC