AYUDYA BANK UPGRADES MODERN BANKING SYSTEM

Vientiane, June 7 (KPL) - The Bank of Ayudya Public Company Limited Vientiane Branch on 5 June upgraded its modern banking system as the Advent of Modern Banking. The event of the Advent of Modern Banking of Bank of Ayudya Public Company Limited Vientiane Branch was attended by Director Manager of Bank of Ayudya Public Company Limited, Mr. Tun Khongkhoun, Minister of Planning and Investment, Mr. Soulivong Dalavong and Thai Ambassador to Laos Mr Wiboon Khusakul. Mr. Soulivong said that the Bank of Ayudya Public Company Limited's Vientiane Branch is one of the six branches of foreign commercial banks operating in the Lao PDR. Besides the policy on continuous development of the monetary service, the production promotion and others with high quality, the Bank also has the policy on support and cooperation with the state sector in promoting trade and more investments in the economic and social system of the Lao PDR. The branch is a component to make the economic growth stable and consistent and a good model of foreign investment in the country. The banking system is regarded as the key mechanism for promoting the socio-economic development of the country in terms of saving, trade promotion and international investments. "I hope that the foreign banks in the Lao PDR would give an impetus on competition with aim of making better service and using modern technology to catch up with the information age in addition to developing human resources related to commercial banks," he continued