New BFL Managing Director announced
New BFL Managing Director announced
Banque Franco Lao Ltd (BFL) announced the appointment of its new Managing Director, Mr David Parrott, in Vientiane last week, at a key moment in the development of the bank in the country and region.
Mr Parrott was officially introduced at an event which also revealed the bank's development plan which is co-owned by the BRED Group, the largest commercial bank within the BPCE group of France and BCEL, the main Lao public bank.
The event was attended by the French Ambassador to Laos Ms Claudine Ledoux, the bank's former Managing Director, Mr Guillaume Perdon, and representatives of the Lao government and diplomatic corps.
My banking philosophies are to provide a better customer experience through employee engagement and listening to customer feedback to meet their expectations, Mr Parrott said.
Meanwhile, Mr Perdon said The objective of the announcement is to maintain our leading position as an international bank in Laos with the talented executive team that we have.
BFL's ambition is to provide innovative banking solutions and to support the people of Laos in building a sustainable future based on 20 years experience in retail and commercial banking.
Mr Parrott 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, business partners in Laos, and for national and international investors.
BFL was awarded best SME Bank in Laos by London Global Business Outlook Magazine, based on the bank's innovative SME lending offer launched in January this year, Mr Parrott said.
In addition, BFL was honoured for their Women's Initiative Programme by the Global Bank Alliance for Women in Washington.
According to BFL, the bank now employs more than 170 people at 22 locations in Laos. There are 12 in Vientiane, 10 located in key cities outside the capital and 47 operational ATMs across the country.
BCEL offers a wide range of loans, deposits and debit card products to more than 22 000 retail and business customers.
Since BFL 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.
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.
