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Lao-Viet Bank expands services in Vientiane
The Lao-Viet Bank (LVB) yesterday opened its second service unit in Vientiane in Sikhaythong village, Sikhottabong district, to offer banking services to people in nearby communities.
The Sikhay service unit (Sikhay banking office) is near Wattay International Airport and is located in a trading area in the western part of Vientiane, providing an important link between the capital and the central and northern provinces.
The area surrounding the new service unit is home to many private businesses, Lao-Viet Bank General Director Mr Nguyen Kim Dieu said at a ceremony to officially open the new unit.
The Sikhay area also has the potential to become a major trading centre and may include industrial and economic zones in the future, important factors in the bank's decision to open a branch in the area, he said.
The LVB is planning to open more branches and service units in different areas of Laos and Vietnam, said Mr Nguyen.
The bank opened the Sikhay office to meet demand for banking services. The unit will provide a wide variety of services including money transfers, foreign exchange, deposits, ATM services and express money transfers.
The unit is now offering a special promotion, with new customers who deposit at least three million kip (US$500 or 20,000 baht) receiving a free umbrella and those opening a new account with at least five million kip (US$800 or 30,000 baht) presented with a free t-shirt.
The bank now has branches in Hanoi and Ho Chi Minh cities in Vietnam and in Champassak and Savannakhet provinces of Laos. More branches are planned for Xieng Khuang and Luang Prabang provinces this year.
Mr Nguyen said the bank plans to expand its ATM services and number of service units year by year.
After its establishment in 1999 in Vientiane, the bank has greatly contributed to the development of the Lao economy and has encouraged business, trade and investment between Laos and Vietnam by facilitating payments.
“The bank also provides loans for cooperation projects between the two countries, which further contributes to the economic development of Laos,” he said.
Sikhottabong district Deputy Governor Mr Boualay Syphakham said the new service unit will help to attract more investment in the district and make banking more convenient for local residents and traders.
Also attending the opening ceremony of the new service unit were representatives from partner banks including the Bank for Investment and Development of Vietnam, delegates from LVB branches in Laos and Vietnam, bank customers, and invited guests.
vientiane times
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