Representatives of BIC Bank attended the opening ceremony of the new Corporate Office.

BIC Bank unveils new corporate office

To commemorate fifteen successful years in Laos and the region, the BIC Bank Lao Company Limited officially unveiled its new corporate office in Phonesaat Village, Vientiane.
Among the esteemed guests who participated in this auspicious event on 24 March were the Deputy Prime Minister and Minister of Foreign Affairs, Mr Saleumxay Kommasith, the Governor of the Bank of Lao PDR, PhD Bounleua Sinxayvoravong, and distinguished clients and strategic partners from various economic sectors.
From a humble beginning as a foreign bank stepping foot in Laos in 2008, BIC Bank has made significant progress in the past 15 years. The bank has made significant contributions to the development of the Lao economy, financing key projects and businesses and providing viable, diverse and distinct opportunities to both the government and businesses alike.
According to Mr Rithikone Phoummasak, PhD, Chairman of BIC Bank Lao Company Limited, the bank has robust credit technical assessment processes, and a comprehensive compliance framework and governance, which is the foundation of a strong risk-based culture.
“We subscribe to a ‘Because I Care’ philosophy; our core principle that we adhere to. Guided by this core principle, we strive for inclusivity, which is important not only in elevating our customers, but also our society as a whole. The bank’s ultimate goal is to see our customers grow and succeed. We walk together as a partner to  provide not only support, but solutions to cater to the needs of each of our customers’ growth. Equipped with this in our hearts, we are able to demonstrate consistency to maintain a steady momentum towards growth and sustainability for both our clients and the bank,” said Mr Rithikone Phoummasak.
BIC Bank has redefined their business strategy by harnessing their “Investment and Private Banking” business, with a focus on meeting target groups based on their specific

The new premises of BIC Bank.

needs. This niche business strategy enables the bank to conduct thorough research and develop products which will be able to connect customers with their needs.
These products meet both the market and client fit, and will benefit customers in the long run. By defining these goals and creating processes around their products, they believe that fostering a lasting relationship with their customers is not only achievable but also sustainable.
In line with the bank’s commitment to togetherness and inclusiveness, children from the Lao Autism Association were invited to hold an exhibition to showcase their paintings at the premises of the building. All paintings were drawn by these special children and an auction was held during the event, where a total of five paintings were auctioned.
The total amount collected from the auction was LAK120,000,000, in addition to other contributions of LAK24,633,333 and THB13,000.00 from well-wishers. All proceeds will be channelled to the Lao Autistic Association for the purpose of building an autism school, which will be able to provide specialised care for these special children.
The brand new Corporate Office is located close to Patuxay, within the vicinity of Vientiane’s financial centre. The meticulously designed building, with its concept featuring bamboo plants and a sleek silver coating, is in tandem with the bank’s continuous development, driven by the continued need to serve customers at the highest level and to retain and attract top talent. This is aligned with the intention to create a next-generation workplace environment that ignites creativity, collaboration, and industry-leading innovation.
The bamboo plants on the building symbolise strength and longevity; their roots run deep and wide, where they bend but don’t break, which translates to being flexible yet firmly rooted. They are also known for their agility and resoluteness, which is a pure reflection of the bank’s ability to be agile in a constantly changing environment, which is one of the reasons for the bank’s incremental progress.
The silver coating encompassing the building represents strength, wealth, and success, which translates to being resolute in times of adversity. This is a reinforcement of the bank’s belief that in every difficulty lies an opportunity and that they can see a silver lining in every challenging situation.
With this new Corporate Office, the bank opens the doors for businesses to embrace new challenges, providing creative ideas and solutions to take them to a higher level. This unique banking experience serves to provide viable, diverse and distinct opportunities to its clients, working in synergy with integrity to empower sustainability and to foster cohesiveness.

By Times Reporters
 (Latest Update Apri 3, 2023)