Vietnam’s Military Commercial Bank (MB) on Dec. 30 launched a branch with an initial capital of 12 million USD in the Lao capital city of Vientiane.

The branch will provide business and individual clients with short, medium and long-term loans for expanding investment and consumption activities for individuals and businesses along with offering card, remittance, guarantee, foreign exchange and international payment services.

On the occasion, the branch signed cooperative contracts with Unitel, a joint-venture between Viettel Global and Lao Star Telecom, PV Oil and Phou Luong company. It donated three houses worth 300 million VND to disadvantaged families of veterans and soldiers in Laos.

The presence of MB in Laos will contribute to further strengthen solidarity and promote trade ties between Vietnam and Laos./.