A ceremony was organised in Vientiane, Laos on June 18 to mark the 16th founding anniversary of the Laos-Viet Joint Venture Bank (June 22) and the seventh founding anniversary of the Lao-Viet Insurance (LVI) Company (June 21).
Lao Deputy Prime Minister and Chairman of the Laos-Vietnam Cooperation Committee Somsavath Lengsavath and Envoy at the Vietnamese Embassy in Laos Hoang Xuan Hai attended the event.
Established on June 22, 1999 under cooperation between the Bank for Investment and Development of Vietnam (BIDV) and the Banque Pour Le Commerce Exierieur Lao (BCEL), the LaoVietBank has become one of the largest commercial banks in Laos and a model for economic cooperation between the two countries.
The bank’s total assets have reached 800 million USD with an annual average growth rate over 30 percent. Along with serving inter-governmental economic cooperation projects, the bank also provides payment and credit services for businesses and individuals.
Meanwhile, the Lao-Viet Insurance Company (LVI), a joint venture between the BIDV Insurance Corporation and the BCEL, has risen to become the second biggest insurance company in Laos.
Speaking at the ceremony, BIDV General Director Phan Duc Tu thanked the Lao Party, Government, ministries and central bank as well as BIDV partners and consumers for supporting the LaoVietBank and the LVI.
On the occasion, the bank announced a credit package with preferential interest rate worth 800 billion LAK (100 million USD) to support enterprises operating in import-export, trade and services.
The launching of the credit package is also a commitment from the bank and the Lao Government and central bank to reduce interest rates to support production and business and boost the country’s economic growth.-VNA
Lao Deputy Prime Minister and Chairman of the Laos-Vietnam Cooperation Committee Somsavath Lengsavath and Envoy at the Vietnamese Embassy in Laos Hoang Xuan Hai attended the event.
Established on June 22, 1999 under cooperation between the Bank for Investment and Development of Vietnam (BIDV) and the Banque Pour Le Commerce Exierieur Lao (BCEL), the LaoVietBank has become one of the largest commercial banks in Laos and a model for economic cooperation between the two countries.
The bank’s total assets have reached 800 million USD with an annual average growth rate over 30 percent. Along with serving inter-governmental economic cooperation projects, the bank also provides payment and credit services for businesses and individuals.
Meanwhile, the Lao-Viet Insurance Company (LVI), a joint venture between the BIDV Insurance Corporation and the BCEL, has risen to become the second biggest insurance company in Laos.
Speaking at the ceremony, BIDV General Director Phan Duc Tu thanked the Lao Party, Government, ministries and central bank as well as BIDV partners and consumers for supporting the LaoVietBank and the LVI.
On the occasion, the bank announced a credit package with preferential interest rate worth 800 billion LAK (100 million USD) to support enterprises operating in import-export, trade and services.
The launching of the credit package is also a commitment from the bank and the Lao Government and central bank to reduce interest rates to support production and business and boost the country’s economic growth.-VNA
