Phongsavanh Bank receives international awards, prizes in 2016
Phongsavanh Bank receives international awards, prizes in 2016
Phongsavanh Bank Limited received many international awards and prizes for its quality of service, management and best enterprise and manager of the year at the end of last year.
The bank received the Best Enterprise and Manager of the Year medal 2016 and Quality & Excellence Consulting of the Year 2016. The prize is awarded to organisations with excellence in quality of service.
The bank also received the Europe Business Assembly Award. It was nominated by the Socrates Nomination Committee in the United Kingdom for the Europe Business Assembly International award.
Dr Od Phongsavanh, President and Chairman of Phongsavanh Group, represented both the bank and its shareholders in receiving the prestigious international awards on December 20, 2016, in Oxford, the United Kingdom.
This nomination included the �Bes t Enterprise Award� and the �Manager of the Year Medal� in recognition of the best quality of banking business services and the strong reputation and position of the bank in both local and regional markets over the past years.
The bank also received the Majestic Falcon Award for Quality & Excellence Prize 2016 in Dubai, UAE, on November 28, 2016.
Mr Saynavinh Desakhamphou, Acting Deputy Managing Director, represented the bank to receive this prestigious award and prize.
In other ways the Management & Consulting Association aims to put in hands the necessary information for enterprises worldwide to promote their Management System, Communication and Development.
It focuses particularly on Quality Management, Durable Development, Management by Objectives and by Projects, Advice and Control, Planning, Marketing, Information Systems, and Staff Management.
It has equally a goal to protect and coordinate the interests of its members, as well as to facilitate the relations and experience exchange.
The ceremonies held on the occasion of the award presentation offer an incomparable opportunity for all the awardees to establish commercial and professional contacts.
They have the chance of presenting their products in an international forum, counting on businesspeople coming from the five continents.
The companies that win the awards make their firms known in a multi-sector forum.
They exchange experiences, make new commercial and professional contacts, and find out about innovations, new technologies, and markets.
The award is thus a communication tool serving the interests of the companies on display and a testimony of their efforts to achieve constant improvements in technological development and quality and their continuous struggle to improve their brand name.
Phongsavanh Bank was named among top 74 companies from 62 countries to receive the Quality Choice Prize 2016 from the European Society for Quality Research (ESQR).
Mr Bounthanh Vongsoury, the Managing Director, represented the bank to receive this prestigious prize along with the executives of banks, financial institutes, leading organisations, public administrations and companies from Europe, Asia, the Americas, Africa and Australia.
The ESQR's Quality Choice Prize honours Phongsavanh Bank's achievements for its ethics and initiatives that demonstrate exceptional success in quality management and providing best quality of services to its customers.
It was the first private bank in Laos to be officially established in 2007. The bank's vision and mission are to be the leading commercial bank in Laos providing the best quality of financial services and the bank of choice for the Lao community.
The bank offers a variety of products such as deposit service, loans, remittance, ATMs, POS, and foreign exchange, cash withdrawal via ATMs, and other credit cards and services.
It has branches, service units, centres and ATMs nationwide, and has representative offices in Thailand and Vietnam.
Over the past three decades, the Phongsavanh Group has grown step-wise under the founder's vision of conducting a profitable business enterprise, juxtaposed by bettering people's quality of life and consolidating economic expansion.
The group has grown remarkably since it diversified into various business sectors of the wood industry, telecommunications, trading, construction, banking and financial institutions, mineral mining, oil and petroleum products, airlines, franchise, innovation, convenience stores, logistics and insurance.
Among the sectors, the wood industry emphasised the export of processed wood, which was closed in 2008 to follow the direction of government policy and for the natural preservation and forestry preservation.
The Group has participated in the socio-economic development of the country progressively, paying taxes to the government annually.
In addition, it is a donor to ministries, organisations and the grass-roots level and has assisted in times of natural disaster such as drought and flooding, as well as national sports activities and important events.
To apply the national policy of the Three Builds, the Group supported the directive by providing loans at low interest rates to farmers to reduce the level of poverty.
So the people are happy with the activity and it gives more confidence to the government.
Regarding coordination with foreign countries, the Group has good coordination with Vietnam, Cambodia, China, Russia and Dubai, in the exchange of merchandise and in investment.
It has representative offices in Vietnam, China, Thailand, Singapore, Malaysia and Myanmar which have helped Laos to become well known in the region and at the international level.
