Domestic news

CIMB Thai bank opens branch in Vientiane

By Phouangphayom

(KPL) Thai commercial bank CIMB Thai yesterday opened its branch in Vientiane Capital as the first branch in the country and the ninth one in ASEAN nations excluding Thailand.

Among invited guests attending the opening ceremony were the Vice Governor of the Bank of Lao PDR, Mr Sonexay Sithphaxay, the Independent Director of CIMB Thai's Board Directors Mr Dato' Shaarani Bin Ibrahim and relevant officials.

The objective of opening the branch in Laos is to provide financial assistance to local and foreign customers, money exchange, money transfer, loaning and deposit services, according to President of the Board of Directors of CIMB Thai Bank Public Company Mr Supak Sivarak.

"The CIMB Thai bank will be part of driving economic growth in Lao PDR, which has abundance of natural resources, and is a key partner of Thailand, and the Bank is committed to helping customers in Lao PDR an access to CIMB network in ASEAN,"said Mr Supak.

The CIMB Thai aims to provide 300 million bahts loaned to customers in Laos over the next twelve months.

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