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Old May 14th, 2014, 05:18 AM   #61
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First Bank obtains FSC approval to open branch in Laos

http://www.chinapost.com.tw/taiwan-b...First-Bank.htm

TAIPEI, Taiwan -- First Commercial Bank (第一銀行), the flagship banking arm of First Financial Holding Co. (第一金控), has obtained the green light from the Financial Supervisory Commission (FSC) to open a branch in Vientiane, the capital of Laos.

First Bank said it will seek approval from financial authorities in Laos to open the branch as soon as possible. The Vientiane branch would be the first foothold established in Laos by a Taiwan bank.

Since 1998 when Laos joined the ASEAN Investment Area, a free trade zone in the Association of Southeast Asian Nations, foreign funds have been flooding into the country, creating plenty of business opportunities there, the bank said.

With the establishment of its Vientiane branch, First Bank said, it will provide a wide range of services to Taiwanese and Chinese investors operating in the Southeast Asian country.

Like its branch in Phnom Penh, Cambodia, the Vientiane branch will target small and medium-sized enterprises in a bid to lock in profits in the emerging economy, the bank said.

The banking sector in Laos tends to offer a relatively large interest spread, which could boost banks' bottom lines, according to First Bank.

First Bank has a broad network in Asia, with branches and representative offices in 10 Asian cities, including Phnom Penh, Hong Kong, Tokyo, Shanghai, Singapore, Ho Chi Minh City and Bangkok.
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Old May 15th, 2014, 01:10 PM   #62
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Banks building nationwide ATM network

http://laosinvestmentreview.com/2014...e-atm-network/

Banque pour le Commerce Exterieur Lao (BCEL) is working with seven other banks to build a nationwide network of about 1,000 automated teller machines (ATM) in Laos.

An initial phase of the project has linked BCEL’s network of 255 ATMs with those of Agricultural Promotion Bank and Lao Viet Bank, for a total of 336 machines across the country.

Five additional banks – Lao Development Bank, Joint Development Bank, ST Bank, Indochina Bank and Banque Franco-Lao – are expected to join the network within the next year, after systems integration work is completed.

Once the expanded network is in place, customers of the eight banks will have access to cash and other services at approximately 600 ATMs in Vientiane, and an additional 400 machines in other cities and provinces.
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Old May 15th, 2014, 01:10 PM   #63
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Financial crisis fear mounts as fiscal, credit alarms sound

http://laosinvestmentreview.com/2014/04/

The sense of financial crisis gripping Laos has escalated in recent days with reports of late payments by a cash-strapped government causing financial stress for investors and commercial banks.

The Ministry of Finance reported last week that the government borrowed 1.531 trillion kip (US$191 million) in the first six months of the 2013-14 fiscal year, in an effort to plug the widening budget deficit, with an additional 3 trillion kip in funding needed before the end of the budget year in September.

Despite the borrowing, fear of financial crisis is growing, with reports of construction firms threatened by shutdown due to delayed government payments for work on infrastructure projects. According to Vientiane Times, a construction industry representative said companies are facing land and asset seizures by commercial banks, and are being forced to cut costs and lay off workers.

However, Bank of Lao PDR governor Somphao Phaysith told local media on Friday that commercial bank executives had agreed not to seize assets from investors in infrastructure projects, and that the central bank would act as a lender of last resort, in the event that the health of the banking system is at risk.

“The Bank of Lao PDR will act as a final loan provider in case a bank that comes across financial issues cannot borrow from other commercial banks,” Mr. Somphao said.

Meanwhile, the government is considering “suspending” a 39 percent salary increase for state employees scheduled to take effect next year. According to Vientiane Times, the suspension was mooted in a draft budget for the 2014-15 fiscal year presented by the Ministry of Finance to a meeting of government leaders. The World Bank and International Monetary Fund have cited large increases in public sector compensation last year as a contributor to the current fiscal stress.
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Old May 15th, 2014, 01:19 PM   #64
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RHB Bank of Malaysia receives banking licence

http://laosinvestmentreview.com/2014...nking-licence/

RHB Bank of Malaysia announced yesterday that it has been granted a banking licence from the Bank of Lao PDR, the central bank of Laos.

RHB CentreIn a filing with the Malaysian stock exchange, the bank said its new Lao subsidiary would begin operations once it receives a business registration licence from the Lao Ministry of Industry and Commerce.

RHB Bank is one of Malaysia’s top five banks, with assets of 191.1 billion ringgit (US$58.7 billion) at the end of 2013. In addition to Malaysia, the bank has operations in Brunei, Cambodia, Indonesia, Hong Kong, Singapore, Thailand and Vietnam.
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Old June 13th, 2014, 08:47 AM   #65
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Central bank to limit new commercial banks
Posted on 3 June 2014 | Comments Off
The Bank of the Lao PDR (BoL) announced last month that it will suspend approval of the establishment of certain new commercial banks, in order to focus its resources on reviewing and strengthening Lao banks already in operation.

The suspension applies to both domestic and foreign investors that do not represent an existing bank or banking group and will remain in effect through 2016, according to local media.

Bank of Lao PDRThe central bank said consideration and approval will continue for existing domestic banks or banking groups and foreign-registered banks seeking to establish new offices or branches in Laos.

The BoL said the suspension was the result of a need to “review and evaluate commercial banks in Laos in order to define policies and relevant laws to improve Laos’ commercial banking system.”

Laos has seen rapid growth in commercial banking in recent years, from 12 institutions in 2006 to 33 today.

In April, BoL governor Somphao Phaysith addressed concerns about the health of the Lao banking system, saying that the central bank was prepared to “act as a final loan provider in case a bank that comes across financial issues cannot borrow from other commercial banks.”
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Old June 18th, 2014, 07:24 AM   #66
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SCB talking with Thai investors who want to invest in Burma
http://www.scb.co.th/scbfirst/aec
https://www.facebook.com/photo.php?f...3978544&type=1

Cambodian Commercial Bank, Phnom Penh Branch (Head Office)
Address : Siam Commercial Bank PCL, Vientiane branch
117, Lanexang-Samsenthai Rd., Ban Sisaket , Muang Chanthaburi Vientiane, Lao P.D.R., P.O. Box 4809
Tel: +856 205 551 1252
Fax: +856 21 213 502
http://www.scb.co.th/scbfirst/aec/service-scb#services1
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Old August 1st, 2014, 09:19 AM   #67
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Cathay United Bank obtains approval to open branch in Vientiane

http://focustaiwan.tw/news/aeco/201407090011.aspx

Taipei, July 9 (CNA) Cathay Financial Holding Co., one of Taiwan's leading financial holding companies, said Wednesday that its banking arm Cathay United Bank has obtained approval from regulators in Laos to open a branch in the country's capital Vientiane.

Cathay United Bank is the first Taiwanese bank to get approval from the Laotian central bank to establish a presence in the country.

Citing International Monetary Fund statistics, Cathay Financial said Laos' economy has grown at a pace of more than 7 percent a year every year since 2008 and will soon take further strides as the country prepares to invest heavily in public infrastructure.

In addition, Laos has joined the Association of Southeast Asian Nations Free Trade Area and the World Trade Organization to speed up its pace of economic development, contributing to the positive outlook many have toward Laos' prospects, Cathay Financial said.

According to the parent company, Cathay United Bank sees tremendous business opportunities in Laos because the financial services market is on the rise there after financial authorities said they welcomed foreign investment in the sector.

Cathay United Bank said Southeast Asia is one of the main targets in its drive to extend its reach overseas.

Of the 10 ASEAN member countries, the bank now has branches or representative offices in six of them -- Vietnam, Cambodia, Thailand, Singapore, Malaysia and the Philippines.

In addition, Cathay United Bank has obtained approval from financial authorities in Myanmar to open a representative office there, and an application to open an office in Indonesia is under review by that country's authorities.

Cathay United Bank also operates overseas branches in Los Angeles, Hong Kong and Shanghai, according to its website.
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Old September 1st, 2014, 02:12 PM   #68
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CIMB (Thai) opening the first Lao branch in Viengchan Capital for Local Lao people who want to borrow or deposit their money in either Lao Kip, Thai Baht and US Dollars while helping Lao investors to invest around ASEAN and facilitating those investors from richer Asean countries to invest in Laos with cross border financial service - money transfers, Letters of Credits for EXIM business and checks.

the goals for the first year - 100% growth to have loan and deposits at 300 million Baht as there is more room to grow
http://www.thaipost.net/news/010914/95525
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Old September 18th, 2014, 05:58 PM   #69
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Quote:
Originally Posted by SeeMacau View Post
RHB Bank of Malaysia receives banking licence

http://laosinvestmentreview.com/2014...nking-licence/

RHB Bank of Malaysia announced yesterday that it has been granted a banking licence from the Bank of Lao PDR, the central bank of Laos.

RHB CentreIn a filing with the Malaysian stock exchange, the bank said its new Lao subsidiary would begin operations once it receives a business registration licence from the Lao Ministry of Industry and Commerce.

RHB Bank is one of Malaysia’s top five banks, with assets of 191.1 billion ringgit (US$58.7 billion) at the end of 2013. In addition to Malaysia, the bank has operations in Brunei, Cambodia, Indonesia, Hong Kong, Singapore, Thailand and Vietnam.

Lao version of RHB Bank (Lao) opening on 25 August 2014 is here
http://www.vtetoday.la/%E0%BA%81%E0%...A%8A%E0%BA%8D/
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Old September 19th, 2014, 01:12 PM   #70
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the representative office of Phongsavanh Bank:

Thailand

Phongsavanh Bank Limited-
Thailand Representative Office.
999/9 The Offices at Central World, 10th Floor Unit LL1002-3, Pathumwan, Bangkok 10330 Thailand
Tel: +66(0)2646-1558-9 Ext: 103 Fax: +66(0)2646-1557

Vietnam

The Offices at Sun Red River Business Center, 1st Floor, Unit 106,
23 Phan Chu Trinh Street, Hoan Kiem District, Hanoi, Vietnam.
Tel: +84-989 152 150

http://www.phongsavanhbank.com/psv/m...ntative&lg=LAO
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Old September 25th, 2014, 08:20 AM   #71
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Phongsavanh Bank annual report of Year 2013 - with the growing number of ATM and service Units
http://www.phongsavanhbank.com/psv/L...(27062014).pdf
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Old November 21st, 2014, 02:20 PM   #72
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more updated list of Lao banks:
http://www.bol.gov.la/Otherbanks/Sat...0Lao%20PDR.htm

Agriculture Promotion Bank - accept exchange for US Dollars, Euro, Baht, and Yuan
http://www.apb.com.la/index.php

Nayoby Bank - no deposits - just loan for farmers and SMEs - accept exchange for US Dollars, and Baht,
http://www.nbblao.org/home.php

Warning about counterfeits including 100,000 Kip notes
http://www.bol.gov.la/laoweb/for2014...te14082014.pdf
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Old January 6th, 2015, 07:21 PM   #73
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Thai Big banks are ready for AEC investment -
Bangkok Bank - More full Branch in Yangon, Phnom Penh and Pak Xe
SCB focus on JV on Vina Siam Bank
K-Bank still negotiate with National Bank of Cambodia to set up the branch and to help SMEs in Cambodia - via Canadia Bank PLC.
For Bank of Ayutthaya, focus will be the service through alliance like Vietin Bank or through Ayutthaya Leasing in Laos - - also consider new branches in Pak Xe and Savannakhet
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Originally Posted by SeeMacau View Post
Krungsri Bank is the only major bank in Thailand left without a branch in Cambodia.
Here is the policy of Bang of Ayutthaya -
1. Using subsidiary like Ayutthaya Capital Service Sell / Krungsri Consumer to plant into Cambodia first to build up the brand in Cambodia, Vietnam and Myanmar - they will issue Srisawat loan / Krungsri Auto Loan /First Choice loan using automobile and motorcycle as a collateral first ...

2. for the case of Vietnam, BAY is going to purchase business portfolio, joint venture with local bank via BTMU which already has established the relationship with Vietin Bank

3. For the case of Laos, Krungsri Leasing Service - issuing automobile loan and electrical appliance loan at 2-3 Myriad Baht per case - with 12 month payment period - now there are several hundred borrowers in Viengchan - issuing 50 million Baht of loan, ready to expand the leasing and loan business in Pakxe, Savannakhet to become profitable within 4 years - even though they have to bear the frustration of delayed loan payment even though it has not reached the loan delinquent yet. The case of Laos will be used as a platform before jumping into Cambodia and Myanmar business - the clearer plan will be started by the end of second quarter of 2015 by the staffs who are going to overseer on Cambodia, Laos, Myanmar and Vietnam exclusively.

http://www.thanonline.com/index.php?...0#.VLSnfsQW3qo
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Last edited by Wisarut; January 13th, 2015 at 07:18 AM. Reason: Addendum
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Old January 20th, 2015, 07:49 AM   #74
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Finally,Kasikornthai Bank has opened Lao Branch in Ban Phonsinuan Saisettha district of Viengchan Capital on 15 December 2014 - with the goal for 250 Billion Kip of loans and 25 billion Kip of deposits with Gala dinner for fund raising and bidding of the safe room
http://www.vtetoday.la/%E0%BA%97%E0%...A%99%E0%BA%B1/
http://www.vtetoday.la/%E0%BA%97%E0%...A%B0%E0%BA%A1/


CIMB (Thailand) Opening the Lao office in Ban Hatsadee, Chanthabouli district of Viengchan Capital - 29 August 2014
http://www.vtetoday.la/%E0%BA%97%E0%...A%82%E0%BA%AA/
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Old March 27th, 2015, 01:37 PM   #75
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Opening Bank of China, Viengchan Branch on 26 March 2015
http://www.vientianemai.net/teen/khao/1/13892
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Old May 14th, 2015, 03:26 PM   #76
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More and More Thai people deposit their hard earning money in Laos and even Lao government starting to notice about the rising number of Thai deposits who come across Mekhong to open the bank accounts in Laos - find the way to obtain the work permit in Laos to be eligible to deposit money in Lao bank accounts
http://manager.co.th/Around/ViewNews...=9580000054849
http://www.now26.tv/view/43962/%E0%B...%E0%B8%A7.html
http://www.laopost.com/%E0%BA%84%E0%...A%81%E0%BB%80/
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Old August 27th, 2015, 06:21 PM   #77
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SACOM Bank now become 100% Foreign Invested Bank - thus it got the name as SACOM Bank Lao - already have 417 Branches + 428 sub branches in Vietnam, 7 Branches in Cambodia and 2 Branches in Laos

http://www.laopost.com/sacombank-%E0...A%B2%E0%BA%84/
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Old December 17th, 2015, 01:39 PM   #78
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BECL and Bank of Ayutthaya making a BConnex to allow transactions through ATM networks of BECL in Laos and Bank of Ayutthaya in Thailand
http://www.vtetoday.la/bcel-%E0%BB%8...A%97%E0%BA%B0/


Aceleda (Laos) going to be ready for AEC
https://www.youtube.com/watch?v=jr9CFoDXHrc
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Old March 8th, 2016, 06:50 PM   #79
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Maybank opens second branch in Laos
BY BERNAMA - 8 MARCH 2016 @ 4:23 PM
http://www.nst.com.my/news/2016/03/1...nd-branch-laos

KUALA LUMPUR: Maybank has opened its second branch in Laos’s capital Vientiane, boosting its support for the local financial services sector as well as tapping ito one of ASEAN’s fast expanding economies.

The branch, located in the commercial district of Nongduang, offers a full spectrum of banking services, Maybank said today. Maybank’s first branch in Vientiane was opened in 2012. It has thus far experienced encouraging growth with loans and deposits rising at an annual average of 46 per cent and 78 per cent respectively over the last two years.

“We anticipate that the opening of this second branch will further boost our franchise in the country and lift our loans and deposits growth to over 70 per cent and 100 per cent respectively by the end of 2016,” Maybank International Chief Executive Officer Pollie Sim said.

The new branch will boost Maybank’s ability to support the increasing trade between ASEAN and Laos which stood at some US$2.48 billion (RM10.12 billion) in 2012, she said in a statement marking the official opening of the branch today.

“We anticipate significant potential especially in the trade finance and remittance segments given our unique position as the only bank with on-ground operations in all 10 ASEAN countries,” she said.

The services offered by the two Maybank branches in Laos include retail and business banking, foreign exchange, remittances, treasury services as well as ATMs. The retail offerings include mortgages and personal loans while business banking services include term financing and trade financing.

The two Maybank branches in Laos currently have a paid-up capital of US$24.53 million (RM100 million) in total and a combined staff strength of 30. Meanwhile, Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor said the bank hopes to further expand its operations in Laos. He said the establishment of the ASEAN Economic Community last year offers great potential for the development of Laos. -- Bernama
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Old June 22nd, 2018, 08:29 AM   #80
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ANZ Bank in Laos no longer offer the retail services (deposit and personal loan) - the retail services have been transferred to Development Bank of Singapore (DBS Bank) in Laos - ANZ Bank in Laos will focus on international business or so instead - just like they have done in Vietnam and Phillippines
http://mahason.com/content-detail.ph...e_name=hotnews
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