The Saigon-Thuong Tin Commercial Joint Stock Bank (Sacombank) has just inaugurated its branch in Vientiane, Laos.
This is Sacombank’s first branch abroad. The opening of the branch is within the bank’s strategy to expand its operation in the region.
The Sacombank branch in Laos will provide financial and banking services to businesses and individuals, including savings deposits, loans, cheques, money forwarding facilities amongst others.
Sacombank’s Laos branch plans to increase its banking services on offer and expand its operations into other localities in Laos to meet financial demands of its customers in Laos over the next few years.
Currently, there are only three State-owned banks, five branches of foreign banks, two joint venture banks, a representative office and two private banks in Laos.