LDB launches new logo and online banking apps, reviews banking performance

The Lao Development Bank (LDB) has set a target of generating profits of more than 200 billion kip during 2022 after it made more than 100 billion kip last year, a senior leader of the bank’s management has said.
The target was unveiled last Friday during the launch of the bank’s new logo and the LDB Trust and LDB Biz banking applications to provide customers with new technology and innovations to enable them to easily access banking services.

Ministers, the BOL governor, deputy provincial governors and the bank’s management team at the launch of the bank’s new logo and the LDB Trust and LDB Biz apps last Friday.

The launch ceremony for the apps and the new logo was attended by the Minister

The President of the LDB Executive Committee, Mr Chanthanome Phommany, briefs the gathering on the performance of the LDB and outlines future action plans.

of Foreign Affairs, Mr Saleumxay Kommasith, the Minister of Technology and Communications, Dr Boviengkham Vongdara, the Governor of the Bank of the Lao PDR (BOL), Mr Sonexay Sithphaxay, the Deputy Minister of Finance, DR Bounleua Sinxayvoravong, the Chairman of LDB’s Board of Directors, Mr Sitthisone Thepphasy, the President of the LDB Executive Committee, Mr Chanthanome Phommany, and other guests.
The launch of the apps marked a milestone in the LDB’s efforts to promote the use of new technology and innovations in mobile banking. LDB Trust and LDB Biz comply with the “new normal” and the new apps will enable customers to easily make payments for water and electricity bills, and carry out money transfers and other monetary activities.
Shortly after the bank became a joint venture between the government and the private sector, the Ministry of Finance, on behalf of the government, took a 30 percent stake in it, while a 70 percent share is held by the Chaleun Sekong Energy Company Limited (CSE).
In a key message delivered at the event by the President of the LDB Executive Committee, Mr Chanthanome Phommany, he described the launch of the mobile banking apps as a significant move to bring in modern technology and innovations to help customers access various banking services.
“Customers can easily use banking services whenever and wherever their mobile phones are connected, and this suits the era of the new normal,” he said.
Mr Chanthanome said the adjustment to the new structure by the LDB has led to greater achievements in one year, with more than 100 billion kip in profits and a total of 30 billion kip paid as bonuses to bank employees stationed at the

The LDB’s Deputy Managing Director, Mr Viengkham Vansilalom (right), hands over more than 58 billion kip to the government’s representative as pre-paid tax and profit dividend.

The Minister of Foreign Affairs, Mr Saleumxay Kommasith (centre, front row), is invited for a photo session with other ministers, members of the bank’s management members and other senior government and provincial officials.

headquarters and branches nationwide.
As the result of its successes during 2021, the bank now plans to generate profits of more than 200 billion kip this year with confidence derived from the new structure created by the bank’s management and its skilled employees in every branch nationwide.
The LDB’s Deputy Managing Director, Mr Viengkham Vansilalom, handed over pre-paid taxes and profit dividend worth 58 billion kip on behalf of the bank to the Ministry of Finance as part of its contribution to the nation’s socio-economic development and to help the government tackle economic and financial difficulties.

By Advertorial Desk
 (Latest Update January 11, 2022)