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Joint Development Bank opens new service unit
The Joint Development Bank (JDB) will officially open a new service unit in Sikhottabong District, Vientiane, Wenesday after three months of preparations.
It is the third unit opened by the bank. The first one is in Xaysettha district of Vientiane and the other in Luang Prabang province.
“The unit will provide almost identical banking services to JDB headquarters, except for loan services,” JDB Marketing Department Assistant Manager Mr. Suriya Puasrisuwan said yesterday.
Mr. Suriya said the bank also plans to open one service unit or branch in Bokeo province some time this year, in addition to one unit in Pakxe district of Champassak province and others around the country.
Currently the bank has 32 ATMs in service, including 29 in Vientiane and three in Luang Prabang. The bank had only 18 ATMs in operation in 2008.
“We will have an additional six ATMs in Vientiane soon,” Mr. Suriya said.
JDB first opened in 1989 with 30 employees. That figure had grown to 130 by 2008 and currently the bank has more than 150 employees. The bank aims to meet international standards in the services it offers. It is a member of the Visa and Mastercard credit systems, and is currently the sole legal provider of credit card services in Laos.
It has automated services for deposit, withdrawal and transfer of money through ATMs. The bank was founded by the Thai Phomsuwan Silo & Drying Company Ltd and the Bank of Laos, now known as the Bank of the Lao PDR.
The Thai investors own 70 percent of the bank, which has registered capital of 35 billion kip (US$4 million), according to the JDB website. Initially all operations were carried out manually but now its systems are fully computerised. It operates as a commercial bank both in Laos and abroad.
vientiane times
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