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Grow Together with Customers, ACLEDA Bank Lao Thanks Double Trust and Foresees Double Deposit

June 22, 2020

The banking sector plays an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner. These financial services help to make the overall socio-economy more efficient. The savers are regularly save money through a bank and gain more as it's a result of the disciplinal cash arrangement.

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, thanks all clients and the public for the double trust and is eyeing double growth over the next three years wherewith the noticeable increase in the number and balance of deposits in the first 5 and half months of this year. Continuing to grow together with customers in a transparent and sustainable way, ABL provides the fast and superior financial services throughout the Lao PDR for all levels of customers and SMEs in particular.

As at mid-June 2020, ABL saw the upward trend in deposits with the number of accounts surging more than 5,000. The total balance is upping about USD 11 million, representing the growth rate of 4.05% and 9.53% respectively in comparison to achievements at the end of last year, according to the bank report. The deposit shall heighten to USD 237 million in the medium term coming and USD 386 million by 2025.

Additionally, the Mobile App. 'ACLEDA ToanChet (ThanChai)' is user friendly, like as a bank in your hand, enables customers to undertake transactions Anyday, Anytime, Anywhere 'AAA' for many services such as checking the account balance, money transfer, bill payment, phone top-up, QR payment, card-less cash withdrawal via ATM with OTP, ABL's ATMs location (welcoming the ATM card of 14 banks to withdraw cash from ATM of ABL) and various up-to-date information.

Managing Director and CEO of ACLEDA Bank Lao Ltd., Dr. Hay Svay, said the growth trend of deposits from the SMEs, partners, loyal customers and the public have continued to increase, so the bank is ready to serve doubly well, especially lending to customers in all segments of community, to SMEs and each large business scale with loan size up to LAK 20 Billion or about USD 2.3 Million. The ABL's Quick SME Loan is popular for customers or related SMEs during the challenging environment and in addition, ABL announced the LAK 100Billion Plan on short term loan with the attractive interest rate for all SMEs in Laos accordingly.

Celebrating the years 12th of operation in the Lao PDR, ACLEDA Bank Lao Ltd. is recognized as No.1 commercial bank contributing Laotian employment in the sector and the 1st Bank in Laos providing the Card-less cash withdrawal via ATM with OTP. Regionally, ACLEDA Group comprises ACLEDA Bank Plc. founded since 1993 and subsidiaries operating in Cambodia, Laos and Myanmar with total assets over USD 6 Billion, 316 branches-offices, 688 ATMs, serving millions' customers and remittance services worldwide.

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