The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) inaugurated the new headquarters of its branch in Vientiane, Laos, on August 12.
At the inauguration ceremony, Sacombank deputy director Nguyen Minh Tam said over the past five years the branch has provided local clients with convenient financial services, winning their trust.
Apart from special promotions, the branch has offered a fast, reliable and low-cost money transfer service between Laos and Vietnam, facilitating business operations.
It has also actively participated in community-oriented activities, contributing to poverty reduction in Laos.
As of July 31, total assets of Sacombank’s branch in Laos were valued at US$102 million. It mobilized US$56 million from depositors and lent out US$73 million.
In the next years, the Lao branch aims to become a wholly foreign-invested bank, focusing on diversifying products and services suitable to every region, and further expanding its network to major economic regions.