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Sacombank branch opens in Laos
The Saigon-Thuong Tin Commercial Joint Stock Bank (Sacombank) opened its first branch in Vientiane, Laos, on December 12.
Governor of the State Bank of Laos (SBL) Phouphet Khamphenphone granted an operating licence to a Sacombank representative during the opening ceremony.
The Sacombank branch in Laos will provide businesses and individuals with a range of financial and banking services, such as savings accounts, loans, cheques, and money forwarding facilities.
Sacombank plans to increase the banking services on offer at the Lao branch and expand its operations into other provinces in the country over the next few years.
Previously, the State Bank of Vietnam and the SBL signed an agreement regarding information exchange and management cooperation within the banking sector, which aims to strengthen the two countries’ banking systems and promote investment in this field.
In 2007, the two banks also signed a memorandum of understanding regarding cooperation in improving payment methods.
vna
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