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Sacombank opens branch in Laos
Wednesday, 17 December 2008 14:51

The Sai Gon Thuong Tin Joint-Stock Commercial Bank (Sacombank) officially opened its branch in Vientiane of the Lao People"s Democratic Republic (Laos) on December 12. This is the first branch of Sacombank opened abroad in accordance with its regional branching out strategy, and also the first branch of Vietnamese credit institutions operating in Laos.

The Sacombank Branch in Vientiane will provide individual and corporate customers with financial and banking services, including demand and time deposits, secured lending, payment, cheques, guarantee, domestic remittance, electronic transfer, and other banking services in line with the license.

The opening of its branch in Laos is the second step of Sacombank ‘s overseas branching out strategy following the opening of its representative office in Nanning of China earlier this year.

The economic potential of Laos and its great demand for banking services have motivated Sacombank to open its branch in Laos, hence setting up a trade bridge between the two countries. Sacombank has planned to upgrade banking services of its Vientiane branch and extend its operations to other cities and provinces of Laos in the coming years so as to maximize its capacity to meet financial demand of customers of all kinds in the Lao market.

 

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