The Saigon-Hanoi Commercial Joint Stock Bank (SHB) inaugurated its representative office in the Lao southern province of Champasak on August 15.

This is the bank’s second overseas representative office following the one in Cambodia.

Addressing the event, SHB General Director Nguyen Van Le said that the inauguration of the bank’s office in Laos is part of its strategy of expanding to potential markets.

The office aims to meet the demands of various groups of customers, especially small-medium sized enterprises, foreign economic organisations investing in Laos and local residents as well.

Over 19 years of its operation, SHB has become one of the 10 biggest commercial banks in Vietnam with a charter capital of 9 trillion VND and assets of 120 trillion VND.

On behalf of the Lao’s Government, Deputy Prime Minister Somxavad Lengsavath hails the inauguration of the office, expressing his wish to see SHB effectiveness in Laos which will positively promote investment and cooperation between the two countries.

Source: VNA