MFI Report

Our History With support from the government of Lao PDR enables ACLEDA Bank Plc. the largest Cambodian bank established its headquarters as a commercial banking subsidiary in Laos. It understood that this is the first time Cambodian bank has officially started business operations internationally outside the country. The new bank, to be named ACLEDA Bank Lao Ltd. (ABL) was established in Vientiane, July 08, 2008 and additionally launched two branches at the same time in Savannakhet and Champasak provinces in October 16-17, 2008 as a business develops. It will be formed as a separate incorporated entity organized and registered under the laws of the Lao PDR with its initial shareholders comprising ACLEDA Bank Plc. of Cambodia subscribing 47.5% whilst the remainder will be taken up by three leading Dutch institutions, Nederlandse Financierings Maatschappij voor Ontwikkelingslanden N.V. ('FMO') — 30%, and the remaining 22.5% held by the Triodos Group including Stichting Triodos Doen and Triodos Fair Share Fund in equal parts. The expansion of the operation network of ACLEDA Bank Lao Ltd. is to provide small and medium entrepreneurs with the wherewithal to manage their financial resources efficiently and by doing so to improve the quality of their lives; and other financial services which are key elements to generate jobs and income, and contribute to developing economy and improving standard of living of people in Laos. Some reasons that drive ACLEDA Bank here in Lao PDR include the sustain and strong economic growth of Lao PDR, similar culture, strong support of authorities in Lao PDR, strong support of shareholders and board of directors, and committed professional management and staff. Hide