LaoViet Bank celebrates 18-years growth with quality services for Laos
Lao-Viet Bank has tirelessly endeavoured to offer good quality service through its 18-year business journey that enables the bank to gain more trust from Lao society and the bank’s executives pledge to continue to offer quality services and products to our customers.
Dating back 18 years ago on June 22, the LaoViet Bank has began operating its business officially, beginning its tireless endeavour to develop itself alongside the national development of Laos.
This year’s June 22 has come and it is the day the bank’s officials and staff members are delighted to welcome customers for the celebration of the 18th anniversary founding of the LaoViet Bank.
On this occasion, we would like to review the significant milestones of the 18-year journey of the LaoViet Bank as follows:
Endless self-building for development
In 1999, the bank began with an initially-registered capital of US$10 million with only two branches. Currently, the LaoViet Bank has expanded strongly with 20 branches.
It has service units in eight of the 18 provinces across the country. The LaoViet Bank has increased its registered capital to US$100 million making the bank among the leading banks in Laos in term of value of the registered capital.
After 18 years of endless effort and endeavour, the LaoViet Bank has currently been among five biggest banks in Laos in term of registered capital and fruitful business operation. The bank’s total asset reaches more than US$1.15 billion. The LaoViet Bank has been able to mobilise fund amounting to more than US$ 1 billion. Its credit quality is higher than the average rate in the Lao banking system. Profit before tax continues to increase enabling the bank to be listed among the biggest banks operating in Laos.
Business operation of the LaoViet Bank has closely observed and followed the regulations and laws of Lao PDR. It actively observes currency policies of the Bank of the Lao PDR. The LaoViet Bank has gained trust and support from leadership in Laos as well as business associations and the people.
Although the economic foundation of Laos encounters some difficulties, enterprises have shared the challenges with the LaoViet Bank in some projects over the past years, contributing positively to achieve important measures in the national development of Laos.
Along with the instruction of the Lao government and the Bank of the Lao PDR, the LaoViet Bank has always coordinated and cooperated with its mother bank - the Bank for Investment and Development of Vietnam in providing from basic until modern service products.
Currently, the LaoViet Bank is the only bank that links ATM system with National Payment Corporation of Vietnam (NAPAS).
The payment system has spread out through developed financial markets across the globe alongside service products such as deposit, loan, money flow management as well as service on state budget receiving and spending.
Regarding the development effort toward being a leading technical provider in Laos, the LaoViet Bank has assessed and recognised by state organisations and its business partners that the bank has been able to handle the rapid development of the technology revolution.
In the development process, the LaoViet Bank has always realised the importance of training and development of its personnel.
The LaoViet Bank has been proud to have welcomed high-level delegates from the Bank of the Lao PDR and other commercial banks to work and devote for the LaoViet Bank.
With almost 400 qualified staff members with professional knowledge, good attitudes and devotion to customers financial future, the LaoViet Bank has received and is receiving new opportunities, while overcoming difficulties to reach enterprises and people under the slogan “Safety, effectiveness and development”.
The LaoViet Bank’s social responsibility
Along with its business operation, the LaoViet Bank is committed to undertake social activities to help the society and the poor people in Laos with focus placing on the strategic areas of the country that still encounter difficulties on health, education, poverty, natural disaster and diseases. The bank’s social assistance has now reached more than US$1.8 million.
Expression of gratitude to leaders, business partners and customers
Recognised for its contribution to socio-economic development in Laos, the LaoViet Bank has been awarded with Labour Medal (Class I, Class II and Class III) by the Party and government of Laos.
It has also been awarded with Friendship Medal and Labour Medal (Class III) given by the Party and government of Vietnam. In addition, the LaoViet Bank has been awarded with a prize as Cambodia-Laos-Vietnam outstanding enterprise. It has also received a best technology utilisation and business operation price in Laos for 2016 among other prizes.
On the occasion of the 18th anniversary founding of the LaoViet Bank from June 22, 1999 – June 22, 2017, all staff members of the LaoViet Bank would like to express heartfelt gratitude to high-level leaders of the Parties and governments of Laos and Vietnam as well as the Bank of the Lao PDR for the close and fruitful attention, instruction and support extended to the LaoViet Bank through the 18 years. We would like to wish the leaders good health, happiness and success. The LaoViet Bank would also like to extend gratitude to its mother bank - the Bank for Investment and Development of Vietnam. We would like to extend our heartfelt thanks to all customers from organisations and individuals, business partners, financial institutes, Lao internal and external banks for their cooperation and support extended to the LaoViet Bank. We wish our business partners to enjoy greater development.
Significant products of the 18-year journey of the LaoViet Bank
On the occasion of the 18th anniversary founding of the LaoViet Bank, the LaoViet Bank has officially launched its Mobile Banking service. This is an electronic service channel that enables customers to conduct financial transaction and services through internet around the clock. Targeted customers to use the Mobile Banking service include customers from organisations and individuals who have LaoViet Bank’s accounts and are using Lao mobile networks. Currencies that can be used in this service are kip, baht, and dollar. To be able to use this service, customers must have a mobile phone that supports and connect android application from version 4 and higher or Apple IOS version 8 and higher. Through this service, a customer is able to transfer money within the LaoViet Bank’s system, check information in their account and activities of the account including disbursement as well as checks, save and borrow. A customer is also able to transfer money, pay telephone and internet bills through LaoViet Bank anywhere and anytime as long as he or she is connected with internet. With easy registration offered, a customer will be able to manage his or her account effectively and safely and when he or she carries out financial transaction. Using an OTP code, a short message will be sent to his or her mobile number for to ensure customer with every purchase.