Banque Franco-Lao celebrates 5th anniversary
Banque Franco-Lao celebrates 5th anniversary
Banque Franco-Lao (BFL) celebrated its 5th anniversary in Vientiane last week, at a key moment in the development of the country and the region.
The bank's anniversary celebration took place at the residence of the French ambassador to Laos Ms Claudine Ledoux. Also in attendance was the General Director of BRED Mr Olivier Klein, Governor of the Bank of the Lao PDR Mr Somphao Phaysith, Director of BFL Mr Guillaume Perdon, and representatives of the Lao government and the diplomatic corps.
Speaking at the event, Mr Klein said five years of intense activities were illustrated by the bank's impressive figures, with BFL now employing more than 170 people at 22 agencies in Laos. Since the bank opened in 2010, the industry in Laos has accelerated, witnessed by the fact that there were only 13 banks in 2007, with the number rising to 26 banks in 2010.
Mr Klein said BFL had participated actively in the financing of the nation's economy, trade and investment in private projects. Its loan portfolio includes SMEs and corporate customers while individuals make up a third of its customer base. The bank provides security and integrity in line with its regulations; for depositors, for business partners in Laos, and for national and international investors.
“I think that many of us have a shared vision of Laos being a front door to Asean, a marketplace of more than 600 million inhabitants, with rapid growth and full of promise and opportunities for our companies,” he said.
“BFL remains until today the only European bank in Laos, an important support for our families and our companies. On January 1 Laos assumed the chairmanship of Asean for the year 2016, coinciding with the launch of the brand new Asean Community,” Mr Klein added.
BRED made the choice to invest in Laos at a time of regional integration. After its success in Laos, the bank intends to continue its development in Asean.
“I take this opportunity to point out the symbolic nature of this anniversary, which shows one more time the cooperation between our two countries and our excellent bilateral relations. France and Laos are bound by an old friendship and engaged together in partnerships in several sectors, including economics and trade,” Mr Klein said.
BFL aims to participate actively in the development of Laos with a long-term vision. It seeks to be a bank connected to Lao people and Lao business - a bank for the French community in Laos and also for the Lao community in France.
It will be an innovative bank that is oriented to new technologies, quality and reliability in its operations, providing useful on-the-spot advice, mobile banking services and operating as a banking counsellor with real added value.
In response to continual changes in the banking industry, BFL constantly invests in the training and wellbeing of its employees.
Today Laos has 40 banks and in this highly competitive context the growth of BFL is especially remarkable.
