PERFORMANCE MANAGEMENT OF FIRST PRIVATE BANK, MYANMAR. (FPB)

This study has been conducted to define Balance Scorecard model as one of the evaluation system in bank. Financial institutions and banks are trying to increase their competitive advantage, so find a comprehensive evaluation model for the performance that is a main key to survive and get competitive position. There are several theories and methods of assessment that can be employed depending on the size and type of organization. The purpose of this study is to contribute to the understanding of how Balance Scorecard is developed and applied in evaluation the performance management of FPB. Secondary data and interview method was employed. Using the concepts of Kaplan and Norton, Balance Scorecard was derived to measure the performance of FPB from 2015 to 2018 financial year. According to research, the analyzed of FPB showed only marginally the impact of non-financial perspectives on financial performance. Analysis also showed that in assessing performance of FPB some critical non-financial factors such as customer satisfaction, efficient internal processes and the quality of staff play a crucial role. According to research, FPB creates the enabling environment for innovation to flourish definitely be awarded with efficient processes. Therefore, the well-structure internal process of FPB is leading to higher customer satisfaction. But the study also revealed that the BSC framework indeed provides additional information when used to assess the performance of FPB it was found that balanced scorecard had a great impact on performance. This research has shown that the four perspectives of the balanced scorecard were significantly different from each other. The research concludes that, FPB relied heavily on financial perspective to measure performance