Speaking at the signing ceremony, BIDV General Manager Phan Duc Tu highlighted that both sides will cooperate in training and experience sharing as well as supporting business activities of their joint ventures including LaoVietBank and Lao-Vietnam Insurance Company (LVI).
The agreement signing between BIDV and BCEL is a significant event to celebrate 55th anniversary of Vietnam-Laos diplomatic relations (September 5, 1962-2017) and 40th years of the signing of Vietnam-Laos Treaty of Amity and Cooperation.
The move also pushes collaboration between the two banks, bringing more benefits to enterprises and people of the two countries.
The BCEL, established in 1975, is the largest bank in Laos with total assets worth about US$3.9 billion as of December 31, 2016. The bank has 19 branches, 75 transaction points and 10 currency exchange points.