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homenavigate_nextMedianavigate_nextOur Newsnavigate_nextACLEDA Bank Lao Lending 45 Times Increase to Agricultural Sector

ACLEDA Bank Lao Lending 45 Times Increase to Agricultural Sector

August 1, 2019

Agriculture is a key sector for people and contributes mainly to the socio-economy and the GDP growth of the Lao PDR. ACLEDA 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, has increased its credit about 45 times from 2010 to estimated December 2019 for agricultural part with the active clients expanding from 276 to 8,900 customers and the loan outstanding from about half million to USD 24million by the end of this year targeted.

ACLEDA Bank Lao set the strategic plan to grow the loan facility in 5-Year average over 20%, especially toward the above sector. In addition, the Bank has upgraded its offices' image to be more digital for headquarter and related branches in order to serve all levels of customers efficiently. The bank provides various range of commercial products including the well-known Mobile App. 'ACLEDA ThanChai', individual and corporate deposit, quick SME loan, larger business loan up to LAK 17 billion (about USD2 million), payroll, cash management, local fund transfer and remittance worldwide.

Dr. Hay SVAY, Managing Director and CEO of ACLEDA Bank Lao Ltd., said to be the leading SME bank, ABL has served the single and multi-services as relevant and needed to all customers from relevant segments. With the fast and efficient process, the customers ease to use the products and service of ACLEDA Bank in the Lao PDR and the region. We focus more on agricultural sector with larger expansion of credit limit to total outstanding of around USD130 million and double portfolios in the next five years. Customers and the public always talk "Want fast service, Thinks about ACLEDA Bank Lao", so thanks a lot for the value wording and great support to grow together, he added.

Head of Credit Department of ACLEDA Bank Lao Ltd., Mr. Thanomchith WARINTHRASAK, raise that the Bank has a huge market shares to serve the suitable products for customers at all levels with the Quick SME Loan, Medium and Larger Scale business loan up to LAK 17 Billion through the 39 offices networking nationwide. For customers satisfying, we diversify our loan products for all segments in the Lao PDR with focusing on agriculture and SME in particular. The Bank's well-trained and professional credit officers would welcome and serve the relevant customers with cross/up selling to nearby and potential people, business, relatives, friends and so on in a transparency way, proper consultation and assessment. With respect to all customers using our credit products, ACLEDA Bank Lao Ltd. can grow with our loyalty customers sustainably.

Celebrating the 11 years of operation in Lao, ACLEDA Bank Lao Ltd. is recognized as No.1 commercial bank contributing Laotian employment in the sector. The advance technology Mobile App., well known as "ACLEDA ThanChai", enables customers to undertake the transactions anyday, anytime, anywhere.

Regionally, ACLEDA Group has ACLEDA Bank Plc. founded since 1993 and five subsidiaries operating in Cambodia, Lao PDR and Myanmar with total assets about USD 6 Billion, 311 branches-offices, 661 ATMs and serving millions' customers to deposit Billions Dollars and using the ACLEDA's products and services.

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