The Corporation for Financing and Promoting Technology (FPT) of Vietnam will help the Laos-Vietnam Joint Venture Bank (LVB) to transform the latter’s CorBanking software system.

A contract to this effect was inked between FPT and LVB in the Lao capital city of Vientiane on August 5 in the witness of Chairwoman of the Lao National Assembly Pany Yathotou and many other senior officials of both nations.

Addressing the signing ceremony, LVB General Director Nguyen Kim Dieu said the 4.31 million USD contract will help the bank improve the efficiency of using resources and brand name, save expenditures and supply modern products and services.

Founded in 1999, LVB has become a symbol of cooperative and investment ties between Vietnam and Laos . By the end of June, the bank’s total assets exceeded 330 million USD, a 30-fold increase compared to the first years of operation. The bank has recorded an annual average growth of more than 25 percent./.