Sacombank Laos donated 6,000 USD to the province’s disaster mitigation fund (Source: VNA)Vientiane (VNA) – The SaigonThuong Tin Commercial Joint Stock Bank in Laos (Sacombank Laos) inaugurated abranch in the Lao central province of Savannakhet on September 29.
Director General of Sacombank Laos Pham QuangPhu said the inauguration of the branch reaffirms the bank’s determination todo long-term business in the country and bring its modern products and servicesto Lao customers.
He said with an initial chartered capital of 12million USD, Sacombank Laos has expanded its network to key areas in Laos suchas Vientiane capital, Pakse city, and Champasak and Savannakhet provinces overthe past nine years.
As of August 31, 2017, the total assets ofSacombank Laos stood at 157 million USD and its pre-tax profit in the firsteight months of this year reached 1 million USD, fulfilling 68 percent of theannual target, he noted.
Vice Governor of Savannakhet province ThonkeoPhoutthakaiyalard said the launch of Sacombank Laos’ branch in the province notonly generates jobs for locals but also contributes to the localsocial-economic development in the coming years.
He said local authorities will create the bestconditions for the branch to operate efficiently.
On this occasion, Sacombank Laos donated 6,000USD to the province’s disaster mitigation fund.-VNA
VNA
