Joint Development Bank review for 2021 reveals a satisfactory performance

With a high level of achievement during 2021 under the motto “Blooming Together”, the Joint Development Bank (JDB) continues to provide a full range of financial products and services and is recognised as the bank of choice for both corporate and consumer banking clients.
To review its performance over 2021, JDB organised an annual meeting in Vientiane on February 5, which also provided guidelines for Key Performance Indicator (KPI) planning for 2022.

Chairman of JDB’s Board of Directors, Mr Ekaphanh Phapithack, addresses the annual meeting.

At the meeting, the Managing Director of JDB, Mr Vilay Siphaphone, reported the results of 2021 business operations and this year’s Key Performance Indicator (KPI) planning.
He pointed out that the Covid-19 pandemic had not only impacted the global economy, but also affected JDB’s business operations in 2021.
This had created difficulties for both clients and entrepreneurs, both domestic and foreign, but was also a good opportunity for JDB to achieve the KPI targets for 2021. The bank’s deposit mobilisation in kip, baht, US$ and yuan all performed above 47 percent, compared to 2020.
Deposits from other banks increased by 56.82 percent, total capital increased by 43.64 percent and credit released 76.5 percent of sources of capital.
Generating profit before tax increased by 58.55 percent and profit tax of 40,382,744,012 kip for the year 2021 was paid to the Ministry of Finance, an increase of 58.76 percent compared to 2020.
In 2022, the bank plans for KPI to explore additional sources of revenue from other existing products and also to improve the knowledge and skills of employees at all levels.
The meeting also saw awards in several categories presented to service units in recognition of their outstanding performance in contributing to the work of JDB.
At the close of the meeting, Chairman of JDB’s Board of Directors, Mr Ekaphanh Phapithack, praised all the management board members and staff for their achievements in the set KPI, and provided guidance to improve outstanding work.
In the past, JDB has provided loans for socio-economic development as well as the construction of infrastructure in Laos and has always contributed to society’s activities.
Following the meeting there was a party to celebrate the achievements of 2021 and the plan for 2022.

Participants gather for the annual meeting.

JDB must strive to make a profit to achieve the target set by contributing profit taxes to the Ministry of Finance to build a prosperous nation in line with the motto of “Blooming Together”.

By Advertorial Desk
 (Latest Update February 8, 2022)