Lao Development Bank wins global and Asian awards
Lao Development Bank wins global and Asian awards
The Lao Development Bank (LDB) this year received both global and Asian awards after the bank improved its technological systems allowing it to provide a higher standard of customer service.
On Wednesday, the LDB held a press conference at its headquarters in Vientiane to announce the awards, which was attended by the Bank of Lao PDR's Personnel Department Director General, Ms Bounta Daravy, representatives from public and private banks in Laos, business operators and media personnel.
In May, the bank received a global award from the Temenos Community Forum (TCF) at Abu Dhabi in the United Arab Emirates, on the theme “Excellent Customer Service”. The bank won this award as a voting result from more than 70 banks and financial institutes around the world, which use the Core Banking System (T24), according to the LDB.
In July, the bank also received two Asian Retail Banking awards in Singapore from the Charlton Media Group Singapore (Asia Banking and Finance). The awards were conferred for Core Banking Systems and Online Banking Initiatives of the Year.
Managing Director General of the LDB, Mr Boualien Phommavongsa, said the bank was able to receive the awards thanks to the close cooperation with the Bank of Lao PDR leaders and also the confidence and trust placed in it by its customers, especially those from the business sector.
He also attributed the success of the bank to the friendly nature of the staff, who at the same time display a high degree of responsibility in relation to their work promoting the reputation of the bank, which is gaining increasing acceptance domestically and internationally.
However, the products and services the bank currently provides cannot yet meet all customers' demands, he noted, and stressed that the bank and its staff must continue to improve the range of products and services it offers, to ensure continued customer satisfaction.
The LDB aims to further enhance and promote its reputation amongst all sectors of society as it seeks to secure a good position in the financial services market as the coming integration of the Asean Economic Community in 2015 draws closer.
The Lao Development Bank is a state-owned bank, which was established in Vientiane in 2003. Ten years later, the bank now comprises 18 branches, 64 service units and 22 mobile service exchange units.
Throughout its ten year history, the LDB has always focused on technological development as the way forward in terms of strengthening its organisational structure and the services that it can provide.
The bank shifted from Bank 2000 services to use the Core Banking System (T24) in 2010.
The bank has also developed and improved its products such as ATMs, mobile banking and online statement issuing, catering to domestic and foreign demand.
The LDB is the first bank in Laos to employ the ‘Mobile Banking System on M-Commerce,' which allows transactions such as the payment of electrical, telephone and internet bills, the purchase of phone cards, online lottery and money transfers without having to enter a branch or service unit.
In the first six months of this year, there were around 3,800 regular customers and more than 8,700 business operators taking advantage of the Mobile Banking System service, with more than 20,000 million kip in transactions taking place.
vientiane times
