uab was one of 4 private banks to commence operations in August 2010, the first new financial institutions in the country since the establishment of Innwa Bank in 1997.

[3][4] uab bank has a network of over 79 branches in 53 townships across Myanmar.

The bank is majority owned by Ne Aung, the son of Aung Thaung, who has been blacklisted by the United States Treasury on 31 October 2014[5] for his membership in the country's ruling military junta, the State Peace and Development Council and his attempts to undermine Burma's economic and political reforms.

[9] In 2017, uab bank launched Visa-branded credit cards in Myanmar to cater to the demand for electronic payments in the country.

[10] uab bank and Global Star Co. Ltd. partnered with Huawei to distribute solar energy products in Myanmar.