BCEL to implement service supplement for TMB
BCEL to implement service supplement for TMB
Banque pour le Commerce Exterieur Lao Public (BCEL) will undertake to provide a local service supplement for the Thai Military Bank (TMB), regarding cash management for TMB clients operating businesses in Laos.
The agreement on between the two banks was signed in Luang Prabang on Saturday, by BCEL Deputy Managing Director Ms Souphayphone Manotham and Head of Corporate Banking of TMB Mr Alexander Nondh Langfeldt.
It was witnessed by Luang Prabang provincial governor Dr khampheng Xaysompheng, BCEL General Managing Director Mr Vankham Voravong, Chief Wholesale Banking Office of TMB Mr Piti Tantakasem, and officials from both sides.
The signing of the agreement represents the continuation of cooperation between the two banks after they signed a Memorandum of Understanding in regard to the matter in Bangkok Thailand in the middle of last year.
According to the agreement, BCEL will serve to manage cash for companies who are TMB clients operating businesses in Laos, especially in facilitating cash transactions in the country for TMB clients whose accounts are supplemented by BCEL.
The cooperation will further the exchange of experience between the two sides in developing and modernising the banks, and enhancing satisfaction of clients of the two banks, the respective parties agreed.
The cooperation between BCEL and TMB comes as organisations in the public and private sectors in Laos as well as other Asean countries are working to prepare for advent of the Asean Economic Community (AEC) in 2015.
At the signing ceremony, Mr Vankham said the cooperation project is an important step for BCEL and TMB towards becoming stronger business partners that can provide better services to clients of the respective banks.
“The cooperation will also build preparedness for the two banks towards the AEC, responding to growing competitiveness in the banking business and the dynamic economic growth in the region,” he added.
Chief Wholesale Banking Office of TMB Mr Piti Tantakasem noted that loan services are not the main services provided by banks because they are not drawn out every day, and they need to focus on other areas of business as well.
Convenient money transfer and payment services which satisfy customers are very important to the banking business, Mr Piti said, because they occur in large numbers every day. He stressed that by cooperating, the two banks could solve the problems of their customers together, providing better standards of services and greater customer satisfaction.
BCEL now has 18 branches, 44 service units, 195 ATMs and 1,250 electronic data capture machines installed in various shops and stores throughout the country.
vientiane times
