BCEL, LSC ink deal on financial advisory services
BCEL, LSC ink deal on financial advisory services
Banque pour le Commerce Exterieur Lao Public (BCEL) and Lao-China Securities Company Limited (LSC) on Friday signed an agreement on financial advisory services.
The agreement will enable BCEL to strengthen its business operations as the bank prepares to inject more capital into its operations in response to the growth of business in Laos.
The agreement was signed by BCEL's General Managing Director Mr Phoukhong Chanthachack and Chief Executive Officer of Lao-China Securities Company Limited Mr Lin Li.
As one of the leading state-owned commercial banks, the bank says it has experienced quite positive growth over the past year.
Speaking at the signing ceremony, Mr Phoukhong said �BCEL has experienced growth in terms of assets and the business has comprehensively expanded.�
Prior to signing the agreement the bank had been preparing the necessary components in relation to the development of personnel, technical staff and coordination with other sectors.
�We are signing with LSC on financial advisory services because we think this company will help us to strengthen our business operations as our capital increases,� he said.
According to Mr Phoukhong, the plan to increase capital to 360 billion kip on the Lao Securities Exchange (LSX) was initially approved by shareholders in 2013 and is now in the process of preparation under the cooperation with LSC.
Details of the Right Offering and Public Offering and other relevant information will be announc ed later this year after a consultancy meeting has been held.
BCEL's Management Board Vice Chairman Mr Khamsouk Soundala, CEO of Lao Securities Exchange Mr Vankham Voravong and other invited guests were present at the signing ceremony.
