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ACLEDA Bank Lao Ltd.

 »  Media  »  Our News  »  ACLEDA Bank Lao foresees double growth

ACLEDA Bank Lao foresees double growth

May 28, 2018 | Source: Vientiane Times

ACLEDA Bank Lao Ltd headquarters in Vientiane.

ACLEDA Bank Lao Ltd (ABL) is eyeing double growth over the next three years, especially after a noticeable increase in the number and balance of deposits in the first quarter of 2018. The Bank's vision is to provide superior financial services throughout Laos for small and medium entrepreneurs and continuing growth together with its customers.

In the first quarter of 2018, ABL saw a healthy trend in deposits with the number of accounts surging to nearly 4,000. The total balance increased to 39 billion kip or about US$4.70 million, representing 3.95 percent and 5.16 respectively compared to achievements at the end of last year, according to a bank report.

Managing Director and CEO of ACLEDA Bank Lao Ltd., Dr. Hay Svay, said the growth trend in deposits by the public and loyal customers was continuing to increase, so the bank was ready to serve its customers doubly well in the medium term.

ACLEDA Bank Lao Ltd. is in the process of launching the new mobile App "ACLEDA Unity ThanChai" in the coming months. ACLEDA Unity ThanChai is an advanced Fintech Application which runs on smartphones and enables customers to undertake banking transactions from anywhere at any time.

The Bank has got approval to run the mobile App "ACLEDA Unity ThanChai" from the Bank of the Lao PDRs, and Dr Hay said he was very grateful to the bank for giving this approval. Head of the Marketing Department, Mrs. Kaysone Linthong, said ACLEDA Bank Lao Ltd would have more facilities to serve the public in a fast and more convenient way through the new mobile App. "Our loyal customers can manage and carry out transactions in a safe, satisfactory and efficient way using Fintech, such as money transfers, bill payments, phone top ups, viewing accounts, payments and QR code, etc.," she said. She added that customers would have the bank in their hand and be able to use ACLEDA's services anywhere at any time. By the end of the first quarter 2018, ACLEDA Bank Lao Ltd had total assets of US$166.5 million, outstanding loans of US$119.71 million, and deposits of US$95.84 million.

Currently, the ACLEDA Group has ACLEDA Bank Plc., as its parent company and five subsidiaries: ACLEDA Bank Lao Ltd., ACLEDA Securities Plc., ACLEDA Institute of Business, ACLEDA MFI Myanmar Co., Ltd., and ACLEDA Properties Ltd. The Bank also has a representative office in Myanmar. The ACLEDA Group operates 310 branches and offices regionally.

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