A ceremony was organised in Vientiane, Laos on June 18 to mark the 16thfounding anniversary of the Laos-Viet Joint Venture Bank (June 22) andthe seventh founding anniversary of the Lao-Viet Insurance (LVI)Company (June 21).
Lao Deputy Prime Ministerand Chairman of the Laos-Vietnam Cooperation Committee SomsavathLengsavath and Envoy at the Vietnamese Embassy in Laos Hoang Xuan Haiattended the event.
Established on June 22, 1999under cooperation between the Bank for Investment and Development ofVietnam (BIDV) and the Banque Pour Le Commerce Exierieur Lao (BCEL), theLaoVietBank has become one of the largest commercial banks in Laos and amodel for economic cooperation between the two countries.
The bank’s total assets have reached 800 million USD with an annualaverage growth rate over 30 percent. Along with servinginter-governmental economic cooperation projects, the bank also providespayment and credit services for businesses and individuals.
Meanwhile, the Lao-Viet Insurance Company (LVI), a joint venturebetween the BIDV Insurance Corporation and the BCEL, has risen to becomethe second biggest insurance company in Laos.
Speaking at the ceremony, BIDV General Director Phan Duc Tu thanked theLao Party, Government, ministries and central bank as well as BIDVpartners and consumers for supporting the LaoVietBank and the LVI.
On the occasion, the bank announced a credit package withpreferential interest rate worth 800 billion LAK (100 million USD) tosupport enterprises operating in import-export, trade and services.
The launching of the credit package is also a commitment from thebank and the Lao Government and central bank to reduce interest rates tosupport production and business and boost the country’s economicgrowth.-VNA
Lao Deputy Prime Ministerand Chairman of the Laos-Vietnam Cooperation Committee SomsavathLengsavath and Envoy at the Vietnamese Embassy in Laos Hoang Xuan Haiattended the event.
Established on June 22, 1999under cooperation between the Bank for Investment and Development ofVietnam (BIDV) and the Banque Pour Le Commerce Exierieur Lao (BCEL), theLaoVietBank has become one of the largest commercial banks in Laos and amodel for economic cooperation between the two countries.
The bank’s total assets have reached 800 million USD with an annualaverage growth rate over 30 percent. Along with servinginter-governmental economic cooperation projects, the bank also providespayment and credit services for businesses and individuals.
Meanwhile, the Lao-Viet Insurance Company (LVI), a joint venturebetween the BIDV Insurance Corporation and the BCEL, has risen to becomethe second biggest insurance company in Laos.
Speaking at the ceremony, BIDV General Director Phan Duc Tu thanked theLao Party, Government, ministries and central bank as well as BIDVpartners and consumers for supporting the LaoVietBank and the LVI.
On the occasion, the bank announced a credit package withpreferential interest rate worth 800 billion LAK (100 million USD) tosupport enterprises operating in import-export, trade and services.
The launching of the credit package is also a commitment from thebank and the Lao Government and central bank to reduce interest rates tosupport production and business and boost the country’s economicgrowth.-VNA
