Business

Sacombank Laos celebrates 10th anniversary

The Lao branch of Ho Chi Minh City-based Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank Laos) celebrated its 10th founding anniversary during a ceremony in Vientiane on December 12.
Sacombank Laos celebrates 10th anniversary ảnh 1Illustrative image (Source: Sacombank)
Vientiane (VNA) – The Lao branch of Ho Chi Minh City-based Saigon Thuong TinCommercial Joint Stock Bank (Sacombank Laos) celebrated its 10th founding anniversary during a ceremony in Vientiane on December 12.

Speaking atthe event, Chairman of the Sacombank Board of Directors Duong Cong Minh said thelaunch of the branch aimed to provide comprehensive financial solutions forVietnamese and Lao individual and corporate clients.

He addedthat Sacombank Laos will continue expanding its network in major cities andprovinces, contributing to developing the Lao financial and economic system.

Governor ofthe Bank of Laos Sonexay Sitphaxay lauded Sacombank Laos for its socialactivities and called for diversifying products and services to contribute tolocal socio-economic development.

As one ofthe leading commercial banks in Laos, Sacombank Laos now has one headquarter andfour branches in Vientiane, Champasak and Savannakhet provinces.

As ofNovember 30, 2018, Sacombank Laos recorded a total asset of 158.126 millionUSD, marking an 11-fold increase. Its total deposits surpassed 95.59 millionUSD, up 11 times, while outstanding loans rose 14-fold from a decade ago to84.27 million USD.-VNA
VNA
#Saigon Thuong Tin Commercial Joint Stock Bank #Sacombank Laos #10th founding anniversary #Governor of the Bank of Laos Sonexay Sitphaxay #leading commercial banks in Laos Laos Vietnam
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