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homenavigate_nextMedianavigate_nextOur Newsnavigate_nextACLEDA Bank Lao Adding Capital 3rd Time to LAK 500 Billion or USD57 Million and $469 Million Total Assets Projection

ACLEDA Bank Lao Adding Capital 3rd Time to LAK 500 Billion or USD57 Million and $469 Million Total Assets Projection

September 23, 2019

The banking sector is the backbone of the economy contributing mainly to the socio-economy and the GDP growth of the Lao PDR with various sources of fund, including equity capital. ACEDA Bank Lao Ltd. 'ABL', the bank you can trust the bank for the people and vision to be the leading SME bank in the Lao PDR, has planned increasing the 3rd time of its capital from LAK 300 billion to LAK 500 billion or about USD 57 million at recent exchange rate and the total assets will be reached USD 469 million of growth projection in 5 years. The Bank sets the strategic plan to grow the credit facility in medium term average over 20%, especially toward the agricultural sector.

The customers at all levels are warm welcomed to use the ABL's products and services efficiently such as the well-known Mobile App. 'ACLEDA ThanChai', individual and corporate deposit, quick SME loan, larger business loan up to LAK 17 billion (about USD2 million), payroll, cash management, local fund transfer countrywide and remittance worldwide.

Dr. Hay SVAY, Managing Director and CEO of ACLEDA Bank Lao Ltd., said we have used the funding from several sources such equity capital, deposit mobilization, interbank placement and market, borrowing from oversea partners, etc. In respect to the legal aspect and to grow together with customers of all segments, ABL will increase more capital to reach LAK 500 billion (or USD 57 million) for 5-Year plan by which the Banks' total asset shall up 2.7 times to around USD469 million. With the fast and efficient process, the customers ease to use the products and service of ACLEDA Bank in the Lao PDR and the region. "Want fast services, Thinks about ACLEDA Bank Lao", he added.

Head of Finance Department of ACLEDA Bank Lao Ltd., Mrs. Somphathay Thongmanyla, raise that the Bank has the high liquidity and huge market shares to serve the suitable products for customers from diverse sectors with the Quick SME Loan, Medium and Larger Scale business loan up to LAK 17 Billion through the 39 offices networking nationwide. The Bank has operated with initial capital LAK 100 billion and then injecting two times in 2010 and 2014 to increase up to LAK 220 billion and LAK 300 billion respectively. We plan to add more capital to reach 500 billion in the coming years for sustainable growth with our loyalty customers.

Celebrating the 11 years of operation in Lao, ACLEDA Bank Lao Ltd. is recognized as No.1 commercial bank contributing Laotian employment in the sector. The advance technology Mobile App., well known as "ACLEDA ThanChai", enables customers to undertake the transactions anyday, anytime, anywhere.

Regionally, ACLEDA Group has ACLEDA Bank Plc. founded since 1993 and four subsidiaries operating in Cambodia, Lao PDR and Myanmar with total assets about USD 6 Billion, 311 branches-offices, 679 ATMs and serving millions' customers to deposit Billions Dollars and using the ACLEDA's products and services.

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