ID :
155798
Tue, 01/04/2011 - 11:42
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http://m.oananews.org//node/155798
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Vietnamese Military bank opens new branch in Laos
VIENTIANE,31 DEC.(KPL) - Vietnam’s Military Commercial Bank (MB) on December 30 launched a branch with an initial capital of USD 12 million in the Lao capital of Vientiane. This is the first step of the MB in the Indochinese market.
The branch office located on Kaysone Phomvihane Road, Phonsay village, Saysettha district, Vientiane Capital, will provide business units and individuals with short, medium and long-term loans for investment expansion and consumption activities for individuals and businesses along with offering card, remittance, guarantee, foreign exchange and international payment services.
Speaking at the opening ceremony, Mr. Le Cong, MB General Director, said that the MB branch in Laos would serve both Lao and Vietnamese enterprises and contribute to the development of the capital market and economy in Laos.
The Military Commercial Joint- Stock Bank (MB) was established in 1994and officially operated since then. The MB has been one of leading commercial joint-stock banks in Vietnam. It does not only serve as a bank but also grows to a financial group that is armed by effectively-operated member firms.
The MB has a total registered capacity of US$ 374 million and US$ 5.6 million in asset. The MB has expanded its network to 140 offices in 26 provinces of Vietnam. It’s connected with 800 branches in 100 countries worldwide.
The Bank has set a target for 2015 to be among the top five foreign bank branches in Laos with the biggest total value, Mr. Le Cong said.
On the occasion, the branch signed cooperative contracts with Unitel, a joint-venture between Viettel Global and Lao Star Telecom; and the PV Oil and Phouluang company. It donated three houses worth 300 million VND to disadvantaged families of veterans and soldiers in Laos.
The presence of the MB in Laos will contribute to further strengthening solidarity and promote trade ties between Vietnam and Laos.
Attending the opening ceremony were Standing Deputy Prime Minister Somsavat Lengsavad, Vietnamese Ambassador to Laos Mr. Ta Minh Chau, and a number of relevant officials.
The branch office located on Kaysone Phomvihane Road, Phonsay village, Saysettha district, Vientiane Capital, will provide business units and individuals with short, medium and long-term loans for investment expansion and consumption activities for individuals and businesses along with offering card, remittance, guarantee, foreign exchange and international payment services.
Speaking at the opening ceremony, Mr. Le Cong, MB General Director, said that the MB branch in Laos would serve both Lao and Vietnamese enterprises and contribute to the development of the capital market and economy in Laos.
The Military Commercial Joint- Stock Bank (MB) was established in 1994and officially operated since then. The MB has been one of leading commercial joint-stock banks in Vietnam. It does not only serve as a bank but also grows to a financial group that is armed by effectively-operated member firms.
The MB has a total registered capacity of US$ 374 million and US$ 5.6 million in asset. The MB has expanded its network to 140 offices in 26 provinces of Vietnam. It’s connected with 800 branches in 100 countries worldwide.
The Bank has set a target for 2015 to be among the top five foreign bank branches in Laos with the biggest total value, Mr. Le Cong said.
On the occasion, the branch signed cooperative contracts with Unitel, a joint-venture between Viettel Global and Lao Star Telecom; and the PV Oil and Phouluang company. It donated three houses worth 300 million VND to disadvantaged families of veterans and soldiers in Laos.
The presence of the MB in Laos will contribute to further strengthening solidarity and promote trade ties between Vietnam and Laos.
Attending the opening ceremony were Standing Deputy Prime Minister Somsavat Lengsavad, Vietnamese Ambassador to Laos Mr. Ta Minh Chau, and a number of relevant officials.
