President Truong Tan Sang cut a ribbon to inaugurate a branch of the Vietnam Joint Stock Commercial Bank for Industry & Trade (Vietinbank) in Vientiane, Laos, on Feb. 9.
This is the bank's second overseas branch, the first being in Frankfurt, Germany.
The branch will offer a full range of products and services such as money transfer, foreign currency trading, savings, loans, guarantees and card services.
The Governor of Laos Central Bank Somphao Phaysith said Vietinbank is now the 27th commercial bank to begin operating in the country and will contribute to the development of Laos banking sector by providing modern services and comprehensive financial products.
At the inauguration ceremony, VietinBank also signed deals with seven businesses. They are the Vietnam National Coal and Mineral Industries Group, the Song Da Holdings, the Tien Phong Plastic Joint Stock Company, the PetroLaos Oil One-member Limited Liability Company, the Donchan Palace Hotel and Convention Centre, and Star Telecom.
VietinBank’s CEO Pham Huy Hung said the opening is part of the bank’s development strategy targeting countries and territories that have economic, trade and investment links with Vietnam.
After this latest opening in Vientiane, VietinBank said it plans to open a branch in Berlin in March this year and expand its operations across Europe, Canada, Malaysia, Indonesia, China and the US./.
This is the bank's second overseas branch, the first being in Frankfurt, Germany.
The branch will offer a full range of products and services such as money transfer, foreign currency trading, savings, loans, guarantees and card services.
The Governor of Laos Central Bank Somphao Phaysith said Vietinbank is now the 27th commercial bank to begin operating in the country and will contribute to the development of Laos banking sector by providing modern services and comprehensive financial products.
At the inauguration ceremony, VietinBank also signed deals with seven businesses. They are the Vietnam National Coal and Mineral Industries Group, the Song Da Holdings, the Tien Phong Plastic Joint Stock Company, the PetroLaos Oil One-member Limited Liability Company, the Donchan Palace Hotel and Convention Centre, and Star Telecom.
VietinBank’s CEO Pham Huy Hung said the opening is part of the bank’s development strategy targeting countries and territories that have economic, trade and investment links with Vietnam.
After this latest opening in Vientiane, VietinBank said it plans to open a branch in Berlin in March this year and expand its operations across Europe, Canada, Malaysia, Indonesia, China and the US./.
