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homenavigate_nextMedianavigate_nextOur Newsnavigate_nextACLEDA Bank Lao doubles fund to USD150 million to Lao PDR as leading SME Bank

ACLEDA Bank Lao doubles fund to USD150 million to Lao PDR as leading SME Bank

May 13, 2019

ACLEDA Bank Lao's Headquarters

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, had increased its funding sources USD 74 million from dozen countries into the Lao PDR during mid-2012 until first quarter of 2019, in addition to the Bank's capital and mobilized funded balance of over USD 100 million in annual average. ABL targets to double funding to reach more than USD 150 million in the next five years strategic plan from many partners in various countries in order to support the credit growth, especially lending facility for the Quick SME Loans and the medium or each larger business scale up to LAK 17 Billion or USD 2 Million based on the customer's profile.

Dr. Hay SVAY, Managing Director and CEO of ACLEDA Bank Lao Ltd., said to be the leading SME bank, we can grow together with our loyalty customers to perform the key role as the backbone of the economy. ABL has used several funding sources including the equity capital, mobilization and lending facility from financial institutions in the region and intercontinental for credit products to meet the need of customers in all segments, particularly the Quick SME Loans, in the Lao PDR. The Bank commits to collaborate progressively with both local and oversea financial partners to increase the funding double or three digits, to a large extent interbank market and cash flow contributing into the Lao PDR.

Head of Treasury Department, Mr. Outo SAECHOW, raise that ACLEDA Bank Lao Ltd. has strong liquidity to serve the suitable credit products for customers at all level for their need of capital and business expansion accordingly. We provide the superior financial services for our depositors, customers and working closely with potential partners in the country and globally for sustainable sources of fund and mutual benefits, he added.

Regionally, ACLEDA Group has ACLEDA Bank Plc., as parent company, and five subsidiaries operating in Cambodia, Lao PDR and Myanmar with funding flow and serving remittance service worldwide. The Group has total assets about USD 6 Billion and operates in 310 branches-offices, 607 ATMs and serving over 2.6 million customers using the bank account, local-oversea fund transfer and various commercial bank's products and services. The well-known FinTech 'ACLEDA ThanChai', latest technology, enables all customers to undertake transactions anyday, anytime, anywhere.

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