Latest banking news, Nov. 23, 2022

Harry Brumpton and Chanyaporn ChanjaroenAustralia & New Zealand Banking Group plans to withdraw from Myanmar by next year citing increasing "operational complexity," underscoring how global companies are turning cautious on the country after a 2021 military coup. The move to cease operations in Myanmar is subject to local regulatory approval and the lender has been "working with its Institutional customers to transition to alternative banking arrangements," it said in a statement on Tuesday. Western nations led by the U.S. have imposed rounds of sanctions targeting the coup leaders, related business entities as well as a bunch of arms dealers . . .