VietinBank Laos, an affiliate of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), marked its five-year operation in Laos at an event on March 31.
Transactions are made at VietinBank Laos (Photo: VietinBank)
Vientiane (VNA) – VietinBank Laos, an affiliate ofthe Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), markedits five-year operation in Laos at an event on March 31.
Speaking at the event, VietinBank Laos General Director LeQuoc Nam expressed his gratitude for the support from both governments for thebank’s operation since 2012.
He noted that starting with 22 million USD of chartercapital and 17 members of staff, the VietinBank Laos has grown into the second biggestVietnamese bank in Laos. He reported that the bank’s asset was valued at nearly222 million USD in 2016 and total outstanding debt reached 158 million USDwhile mobilized capital hit 157 million USD. Vietinbank Laos recorded profitfor five consecutive years and had no bad debt.
The bank has granted approximately 900,000 USD to localsocial welfare and charitable activities.
The General Director said the bank aims to become the bestVietnamese bank in Laos to contribute further to Laos’s national constructioncause and the Vietnam-Laos special friendship.
Lao Deputy Prime Minister and Finance Minister SomdyDouangdy lauded the VietinBank Laos’ performance and contributions to the localsocio-economic development in the past five years.
He said the bank has adhered to the country’s regulations,created jobs for locals, and actively engaged in social welfare activities, praisingit as a trade-investment bridge connecting Vietnamese and Lao businesses.
Deputy Governor of the State Bank of Vietnam Dao Minh Tusaid the robust growth of the bank also reflects the effective cooperationbetween Vietnam and Laos.
At the ceremony, the State bank of Laos presented acertificate of merit to the VietinBank Laos for its significant contributionsto the local socio-economic development.-VNA
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Transactions are made at VietinBank Laos (Photo: VietinBank) 
