Business

Vietnamese bank marks one-year anniversary in Laos

Saigon – Hanoi Commercial Joint Stock Bank (SHB) celebrated a year since the foundation of its subsidiary in Vientiane, Laos, with over 100 customers, including Vietnamese and Lao partners.
Vietnamese bank marks one-year anniversary in Laos ảnh 1At the celebration (Photo: VNA)
Vientiane (VNA) – Saigon – Hanoi Commercial Joint Stock Bank (SHB) celebrated ayear since the foundation of its subsidiary in Vientiane, Laos, with over 100customers, including Vietnamese and Lao partners.

Speakingat the celebration on January 14, Director General of SHB Laos Vu Anh Tuan saidwith the approval of the State Bank of Vietnamand the Central Bank of Laos,the SHB opened a wholly-owned subsidiary in Laos on January 15, 2016.

Thenew bank was upgraded from a SHB transaction office, which started operation in2012 with initial investment of more than 14 million USD.

Asof December 31 last year, total assets of SHB Laos stood at over 150 millionUSD. Total deposits and outstanding loan balance reached about 30 million USDand 58 million USD respectively.

SHBLaos serves more than 1,500 individual customers and businesses.

Establishedin 1993, SHB is among the five largest private commercial banks in Vietnam.

Asof September 2016, its total assets reached more than 215 trillion VND (10.3billion USD), including nearly 13 trillion VND (619 million USD) of equitycapital.

Thebank has about 500 transaction sites in Vietnam,Laos and Cambodia.

In2016, SHB won several domestic and international honours such as being namedone of the top 10 most prestigious banks in Vietnam, the best financing-projectbank in Vietnam, and the best small-and medium-sized enterprise bank inVietnam.

Itwas also honoured as the most outstanding foreign bank in Cambodia as well asthe best deposit product and best brand initiative in Vietnam, and the bestinternet banking provider in Vietnam.-VNA

VNA
#Saigon – Hanoi Commercial Joint Stock Bank #subsidiary Laos
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