ACLEDA Bank Lao Ltd.

For many years of sustainable growth and staff capacity building, ACLEDA Bank Plc. has expanded its operation abroad in order to achieve its own vision and mission. Then with the consent of board of directors and President & CEO of ACLEDA Bank Plc., the former team leader of feasibility, Mr. Saroeun VANN, prepared all requirement documents to apply for banking license from Lao government. As a result, the Bank of the Lao PDR (BOL) governing and regulating banking sector in Laos has issued preliminary license. is permitted in principle by giving the time to renovate the building, recruit staff and complete other documents as required by BOL and other relevant ministries. To make sure that the new fledgling ACLEDA Bank Lao Ltd. operates well, 12 Cambodian consultants from ACLEDA Bank Plc. have been nominated to set up the bank in Lao PDR. Their main purposes are to train Lao staff and equip them with skills and knowledge of jobs to make sure that they become skillful enough to take over the management posts in near future and at that time, the consultants will return to Cambodia one by one. On July 08, 2008, ACLEDA Bank Lao Ltd. celebrated the grand opening ceremony of headquarters under the honorable presiding of Dr. Phouphet KHAMPHOVONG, the governor of the Bank of the Lao PDR, this historic event allows ACLEDA Bank Lao Ltd. to officially operate banking services to all segments of Lao people. On November 29, 2010, ACLEDA Bank Lao Ltd. increased its capital by LAK120 billion so that its total paid up capital reaches LAK220 billion. On September 17, 2014, ACLEDA Bank Lao Ltd. increased its capital by 80 billion Kips so that its total paid up capital reaches 300 billion kips.