Advans Myanmar was incorporated in 2015 and is the tenth affiliate of the Advans group. The MFI received a temporary license to operate from the Microfinance Supervisory Committee of the Ministry of Finance of the Republic of the Union of Myanmar in October 2016 and launched its operations in April 2017.
Headquartered in the city of Mandalay, Advans Myanmar will launch a network of provincial hubs and points of sale in the Mandalay and Sagaing regions of the country. The MFI’s core business is offering village banking to clients in rural areas and small group lending products and individual loans in urban areas. In providing easily accessible financial services to clients with limited or no access to formal financial services in Myanmar, Advans Myanmar hopes to stimulate economic and social growth in the country.
Advans is a Tier 3 MFI with more than 60,000 clients and the average loan disbursed is of EUR 411. Regarding the target population, 62% of clients live in rural areas, close to 90% of total clients are women.