RHB group continues to contribute to regional financial services industry with the opening of RHB Bank Lao
RHB group continues to contribute to regional financial services industry with the opening of RHB Bank Lao
Vientiane, 25 August 2014-RHB Bank Lao Limited (RHB Bank Lao), a member of the RHB Banking Group, held its official opening ceremony in Vientiane on Monday, signifying the Group's continuous commitment to contribute towards the South East Asia financial services industry.
The establishment of RHB Bank Lao marks the RHB Banking Group's presence in nine countries in South East Asia, a strategic move to help achieve its aspiration of becoming a leading regional multinational financial services group. Apart from Malaysia, the Group also has operations in Brunei, Cambodia, Hong Kong (including a representative office in Shanghai, China), Indonesia, Singapore, Thailand and Vietnam.
Present to officiate the opening ceremony was H.E Dr. Somphao Phaysith, the Governor of the Bank of the Lao PDR; also in attendance were H.E Dato' Than Tai Hing, the Malaysian Ambassador to Lao PDR and Tan Sri Azlan Zainol, Chairman of RHB Bank.
Danny Ling, the Country Head of RHB Bank Lao said “As a customer-centric bank, we will emphasise customised banking solutions for clients. Customers can look forward to products and services that are competitive and of value, custom-tailored loan packages and other services to meet our customers' needs and requirements.”
RHB Bank Lao will be providing a wide range of products and services to the small and medium enterprises (SME's), the backbone of the country's economy. The Bank has overdraft and term loan facilities as well as revolving credit to help with cash flow for these enterprises.
At the retail end, RHB Bank Lao offers various products and services to individuals, including cheque book facilities and Automated Teller Machine (ATM) cards.
C ustomers will be able to benefit from the Bank's housing loans that offer a tenure of up to 20 years. Those seeking to grow their savings can obtain fixed deposit and savings account products available with low initial deposit. Remittance and foreign exchange, a safe means of transferring money in a fast and efficient manner are now available. Foreign telegraphic transfer will soon be available to the public.
RHB Bank Lao is located at Kaysone Phomvihane Road, Phonxay and has commenced business since early June 2014. Country Head, Mr Danny Ling together with his team of 28 branch staff are ready to serve the banking needs of the community in Lao PDR.
The RHB Banking Group is the fourth largest fully integrated financial services group in Malaysia. The group's core businesses are streamlined into three main business pillars, namely Group Retail and Commercial Banking, Group International Business and Group Corporate and Investment Banking.
These businesses are offered through its main subsidiaries - RHB Bank Berhad, RHB Investment Bank Berhad, RHB Insurance Berhad and RHB Islamic Bank Berhad, while its asset management and unit trust businesses are undertaken by RHB Asset Management Sdn. Bhd. and RHB Islamic International Asset Management Berhad.
The Group's regional presence now spans nine countries including Malaysia, Singapore, Indonesia, Thailand, Brunei, Cambodia, Hong Kong, Vietnam and Lao PDR. It is RHB Banking Group's aspiration to continue to deliver superior customer experience and shareholder value; and to be recognised as a Leading Multinational Financial Services Group.
vientiane times
