Laos-Vietnam bank operates efficiently
(VOV) -Since its inception 15 years ago, the Laos-Vietnam Joint Venture Bank (LVB) has achieved an annual impressive growth rate of more than 30%, becoming one of the most successful banks in Laos.
The bank has to date owned its assets worth US$600 million, and secured both annual deposit and credit growth of more than 30%. It is now the second largest bank in Laos in terms of charter capital and the fourth in total assets.
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Together with the parent bank, the Bank for Investment and Development of Vietnam (BIDV), LVB has implemented many social welfare programmes providing support for poor people in Laos.
Addressing a ceremony in Vientiane on June 20 marking LVB’s 15th anniversary, Lao Prime Minister Thongsing Thammavong praised the bank’s efficient operation, noting the bank plays an important role in bolstering bilateral ties between the two nations, especially in economics, trade and investment.