News 10/12/2016 05:50

Chairwoman of the National Assembly visited VietinBank Laos

On 27th September 2016, in Vientiane, the People's Democratic Republic of Lao, Ms. Nguyen Thi Kim Ngan - Politburo member, Chairwoman of the National Assembly of the Socialist Republic of Vietnam and the high-level delegation of the National Assembly visited VietinBank Laos Limited.

General Director Le Duc Tho welcoming the Chairwoman of the National Assembly Nguyen Thi Kim Ngan

Accompanying Ms. Nguyen Thi Kim Ngan, there were Mr. Nguyen Van Giau - Member of the Central Committee of the Communist Party, Member of the Standing Committee of the National Assembly, Chairman of the Foreign Relations Committee of the National Assembly; Mr. Nguyen Hanh Phuc - Member of the Central Committee of the Communist Party, Secretary General of the National Assembly, Chairman of the National Assembly Office; Mr. Vo Trong Viet - Member of the Central Committee of the Communist Party, member of the Standing Committee of the National Assembly, Chairman of the National Defense - Security Committee; Mr. Tran Quoc Trung - Member of the Central Committee of the Communist Party, Party Secretary of Can Tho City; Mr. Mua A Son - Deputy Secretary of Provincial Party Committee, Chairman of the People"s Committee of Dien Bien Province; Mr. Nguyen Manh Hung - Ambassador Extraordinary and Plenipotentiary of Vietnam in Laos.

Welcoming the delegation, from Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), there were Mr. Le Duc Tho - Member of the Board of Directors, General Director; Mr. Tran Minh Binh - Deputy General Director and Chairman of the Member Council of VietinBank Laos. From VietinBank Laos, there was Mr. Le Quoc Nam - Member of Member Councul and General Director of VietinBank Laos.

On behalf of the Management team of VietinBank, Mr. Le Duc Tho welcomed and expressed the gratefulness for the visit of the Chairwoman of the National Assembly Ms. Nguyen Thi Kim Ngan and the delegation at VietinBank Laos. VietinBank"s General Director Le Duc Tho reported VietinBank Laos’ performance to the Chairwoman of the National Assembly and the delegation.

The Chairwoman of the National Assembly Nguyen Thi Kim Ngan making a speech at the meeting with VietinBank Laos

VietinBank Laos, which was granted establishment license and officially put into operation since February 2012, is based in Vientiane, the People"s Democratic Republic of Laos, with initial chartered capital of USD 12 million. In August 2015, VietinBank Laos was officially upgraded into a 100% owned subsidiary of VietinBank in Laos, with charter capital raised to USD 50 million. On 20th September 2016, VietinBank Laos upgraded Champasak Transaction Office to Champasak Branch located in Champasak Province, Laos.

VietinBank Laos plans to establish more branches and transaction offices in Vientiane and open more branches and transaction offices in cities and provinces of Laos that have potential such as: Savannakhet, Luang Prabang ... VietinBank Laos will further expand its operational network of ATM system and enhance the provision of advanced e-banking services, in order to meet the needs of enterprises of the two nations as well as promote economic, trade and investment cooperation between Vietnam - Laos.

It is expected that in 2017, the Headquarters building of Vietinbank Laos located on the central boulevard of Vientiane, with a total investment of USD 25 million will be completed and put into use.

VietinBank Laos has made great progresses in business operation, efficiently played the role of bridging economic, trade and investment relationship between businesses of the two countries; provided supports to key investment projects of Vietnam in Laos.

Currently, the total assets of VietinBank Laos amount to USD 220 million, total loans and investment reach USS 160 million with good credit quality and no incurred bad debts. Deposits of the Bank amount to USD 160 million. The annual business growth rate maintains at approximately 30-50%. Apart from business activities that contribute to economic development, VietinBank Laos always focuses on social welfare activities, contributing to strengthening the comprehensive cooperation between the two countries.

General Director Le Duc Tho also stressed that: On the basis of the friendship, strategic and comprehensive cooperation between Vietnam - Laos, VietinBank commit to long-term investment and operation in Laos.

National Assembly Chairwoman Nguyen Thi Kim Ngan and the delegation working with VietinBank Laos

Listening to the report of VietinBank Laos, the Chairwoman of the National Assembly Nguyen Thi Kim Ngan was pleased about the achievements of VietinBank Laos. The Chairwoman highly appreciated the contribution of VietinBank Laos in the socio-economic development of Laos, from providing capital for production and business activities, to contributing to the budget, creating jobs... She was impressed by the secure and efficient operation with no bad debt incurred up until now of VietinBank Laos.

The Chairwoman of the National Assembly recommended VietinBank to provide further training to VietinBank Laos and wished the staff of VietinBank and VietinBank Laos could work together in solidarity, harmony and cordiality as Vietnam - Laos tradition.

Ms. Nguyen Thi Kim Ngan believed that the investment of VietinBank in Laos would gain great success, with the orientation of becoming one of the top banks in Laos, and a symbol for Vietnam - Laos economic cooperation.