JDB reviews 9 months of operations, plans for last quarter of 2022

The Board of Management and heads of divisions of the Joint Development Bank (JDB), together with bank staff, last week met to review operations in the first nine months of 2022 and outline plans for the last quarter of 2022.
The meeting took place at JDB’s headquarter in Vientiane on October 14. 

JDB Managing Director and CEO, Mr Vilay Siphaphone, speaks at the meeting.

Master of the ceremony, JDB’s Managing Director and CEO, Mr Vilay Siphaphone, reported on the outcome of business operations over the past nine months.
Although the Covid-19 pandemic and the global economic situation had caused direct and indirect effects on the bank’s operations, thanks to the close supervision of the government, the Bank of the Lao PDR, and the wise decisions made by the chairman of the board of directors, business operations were able to continue as normal.
Also, thanks to the strong performance by the bank’s management and staff, the results of operations in the third quarter of 2022 had exceeded the set targets.
The bank is now carrying out the work plan set in place for the next three months and is coordinating with Indian experts to develop and upgrade its database to modernise the system and ensure satisfaction for its customers by providing them with various banking products, including high-quality IT systems.
The meeting also heard a report on the bank’s liquidity and its financial status over the past nine months, delivered by the finance administration department.
The report stated that income had increased and that profit before tax was 107.89 percent of the amount planned for 2022, which was considered to be satisfactory. This was followed by comments from the Board of Management and the heads of the bank’s service units.
The Joint Development Bank has paid advance profit tax to the government and the Ministry of Finance of more than 29 billion kip owed on revenue earned during the first six months of 2022.
At the close of the meeting, the bank’s Vice President, Mr Sounthorn Chanthavong, praised the achievements of the Joint Development Bank, saying this had resulted in business operations being more profitable than expected.
He called on all employees to focus on their areas of specialisation in order to achieve the set goals, fulfil the three months plan up untill the end of 2022, and contribute to the development of Laos and the country’s prosperity under the motto of the Joint Development Bank - “Blooming Together”.

The Board of Management, division heads, head of units and staff of the Joint Development Bank gather for the review of the 3rd quarter.

By Advertorial Desk
 (Latest Update October 19, 2022)