Within the framework of the visit and working program in Lao PDR, to attend the Vietnam-Laos bilateral Central Bank Conference held on 14-16 February, 1977 in Luongprabang province, February 15, 2017, Mr. Le Minh Hung - Member of the Party Central Committee, Governor of the State Bank of Vietnam and senior delegation of the State Bank of Vietnam paid a working visit to LAOS - VIET Joint Venture Bank at Branch Luongprabang.

On behalf of the Board of Directors and all staffs of Lao - Viet Bank, Mr. Nguyen Van Binh - General Director reported the establishment and operation of Lao Viet Joint Venture Bank (LaoVietBank) that was established in June 1999 on the basis of joint venture capital contribution of two leading state-owned commercial banks of Bank for Foreign Trade of Laos (BCEL) and Bank for Investment and Development of Vietnam (BIDV). Through many times raising capital so far, the charter capital of LaoVietBank reached $ 100 million and became the largest bank with chartered capital in Laos.

 With the historic mission of "Connecting the Laos-Viet economy" and "contributing significantly to the socio-economic development of Vietnam and Laos". After nearly 18 years of construction and development, LaoVietBank has had a strong development, becoming one of the leading commercial banks operating in Laos; at the same time, it has fulfilled its role of "the main payment bridge, contributing to promoting trade and investment relations between Vietnam and Laos.

By the end of 2016, LaoVietBank was ranked first in terms of charter capital and efficiently operating banks with a total asset size of 1.2 billion USD, ROE was 13.51%. With the network of 01 head office, 05 branches and 14 transaction units, LaoVietBank's distribution network is available in 08/18 provinces and key economic zones of the country including: Vientiane Capital, Attapeu Province Champasak, Savanakhet, Late Kham, Xieng Khouang, Luongprabang and Udomxay. Therefore, we are constantly expanding, linking and better serving the needs of socio-economic development of Lao and Vietnamese businesses and individuals in the locality.

Laos- Viet joint Venture Bank - Luongprabang Branch was established in March 2013, after nearly 04 years of operation Luongprabang Branch has been developing well and growing continuously over the years, contributing to the general economic growth of Luongprabang province as well as LaoVietBank system across the country. Total assets reached $ 37 million, profit in 2016 reached $ 1.3 million. Going together with its business mission, LaoVietBank and BIDV always play the role of a leading bank in social security in Laos focusing on the key areas that Laos is in difficulties such as health, education training, supporting the poor ... with total accumulated amount to date is over 11.5 million.

Thanks to the results of Lao-Viet Joint Venture Bank achieved over the years, Mr. Le Minh Hung - Member of the Party Central Committee, Governor of the State Bank of Vietnam praised and appreciated the achievements, positive results.

This has made a considerable contribution to the development of the traditional friendship and good relationship between Vietnam and Laos. The Governor of the State Bank of Vietnam also wished Laos-Viet Joint Venture Bank and Luongprabang branch to continue to grow strongly and sustainably and continuously make important contribution to socio-economic development of Laos, for the traditional relationship between the two countries' banks.