Agricultural Promotion Bank on track to exceed targets
Agricultural Promotion Bank on track to exceed targets
The Agricultural Promotion Bank has reported loan and deposit accounts are ahead of expectations for the first five months of the year and should exceed this year‘s targets.
A report released Wednesday showed the bank has already handed out more than 3.5 trillion kip in loans, about 85 percent of its planned amount for the year.
Customers have deposited more than 3.3 trillion kip with the bank this year, equivalent to 88.75 percent of the year's target amount.
With the year only half way through, bank officials believe they are on track to easily outstrip their yearly targets.
Agricultural Promotion Bank provides loans for customers in a wide range of business sectors, including trade, construction, transportation, and handicraft-making amongst others.
Its provision of loans is helping drive the country's socio-economic developing and assisting everyday people to escape poverty.
Bank Director General, Mr Bouangeun Phongsavath, told a meeting on mobile banking last week that the bank was established in 1993, before taking on a new vision in 2007 to become a financial leader in rural areas.
Since then, money deposits with the bank have grown by 35 percent annually, while capital has increased 46 percent and property with the bank have risen 52 percent.
The bank has run a profit each year and its network has now expanded to 97 service units across the country.
More than 341,000 households from 135 districts nationwide now use the bank's services, with a total of more than 174,000 deposit accounts.
The bank plans to keep improving and developing its systems in order to provide better facilities for domestic and international customers, and to prepare for the arrival of the Asean Economic Community in 2015.
Agricultural Promotion Bank has previously received three awards and one certification from Otherways Management Association Club in Paris: an award for Excellence in Motivating Agriculture; the Technology Platinum Award for Quality and Excellence in Customer Services; the Golden Trophy Award for Quality and Business; and a certification of quality work operations and customer service.
vientiane times
