Retail News CRM

Tag: Laos

  • KBank, Aeon connect in Laos

    KBank, Aeon connect in Laos

    Both parties are also ready to jointly develop payment channels and other innovative services in a bid to assist Thai investors in Laos.

    Suwat Techawatanawana, KBank’s first senior vice president, said Aeon Leasing Service (Lao) had been granted kip-denominated loans by the bank’s Laotian unit to be used for its retail and motorcycle-loan businesses.

    Aeon Group is a successful financial conglomerate in Thailand, offering personal-loan and credit-card services. Given the promising trends in Laos, the group’s business expansion into this marketplace is expected to bring fruitful results.

    Aside from financial support, KBank will cooperate with Aeon to develop products and services such as innovative payment channels to facilitate its customers in Laos.

    Shiro Kitano, managing director of Aeon Leasing Service (Lao), said this cooperative effort with KBank would be supportive to the company’s business, making it more flexible in its operations.

    Aeon Group now centralises its business management of the Asean region in Thailand. After branching out into the Laotian market, the conglomerate may contact KBank. The one-stop service will help reduce the number of relevant procedures and time needed.

    The cooperative endeavour between the two companies to develop complete payment channels will not only provide greater convenience to customers in Laos, but also assist in modernising transactions in this market.

    Having its headquarters and first branch in Vientiane, Aeon Leasing Service (Lao) is now expanding its services in other major cities in that country.

    Amid slowing economic conditions, loans extended during the first half of 2015 accounted for 30 per cent of this year’s target of 50 billion Lao kip (Bt208 million).

    The company plans to launch more marketing activities to boost its business during the second half of the year, wherein the overall economy is expected to benefit from the advent of the Asean Economic Community.

    Suwat said KBank had operated its locally incorporated institution in Laos since last December, offering loans and financial-transaction services to both individual and corporate customers there, including Thai businesses that have invested in the country.

    Providing credit, KBank assesses their business potential in Laos, plus their company outlook in Thailand. Such risk assessment is conducted to evaluate the entire group prospect. Therefore, the bank can better underwrite credit and give other supporting services to the businesses.

    Amid Laos’ high economic-growth potential, some Thai operators may wish to cash in on growing business opportunities. KBank says it stands ready to support Thai businesses in advisory services, business matching activities and diverse financial services.

    Lees ook:

    Lees ook:

  • Huawei hails SE Asia success

    Huawei hails SE Asia success

    Smartphone maker Huawei says its determination to concentrate on Southeast Asia is already bearing fruit.

    With the profitable Southeast Asia regional launch of the Huawei P8 and wearable units in Bangkok Thailand in late Might, Huawei is retaining the momentum going by introducing the P8, P8Max, P8Lite, Talkband B2 and AP007 energy financial institution to Myanmar, Laos, and Cambodia, Hong Kong, Taiwan and different Southeast Asia nations and areas.

    The corporate says it set a brand new gross sales document in Myanmar when it launched the P8 handset there on June 6.

    After two weeks of pre-orders of Huawei’s newest flagship merchandise, the primary batch of P8s turned obtainable in 28 outlets throughout Myanmar – all of them bought out by 10am.

    “The regional gross sales supervisor from one among telephone store famous that the P8 has set a brand new gross sales document and has turn into the best-selling handset of their store’s historical past and that they have been amazed by the variety of preorders,” stated Richard Yu, CEO of Huawei Shopper BG.

    says Southeast Asia is now one of many key markets for Huawei, and the corporate is optimistic concerning the potential within the area.

    “Southeast Asia is likely one of the most promising and high-potential financial entities on the earth, each now and sooner or later. It’s considered a strategic market and an engine driving the quick progress of Huawei’s Shopper Enterprise,” Yu stated.

    “In 2014, Huawei noticed over 10 million complete shipments on this area. With the launch of the P8, P8Max and P8Lite this yr, we anticipate complete shipments to succeed in eight million models, a 167 per cent improve.”

    The corporate has seen substantial progress in regional shipments within the area. Thomas Liu, president of Huawei Shopper Enterprise Group Southeast Asia, stated within the first quarter of 2015, smartphone shipments in Southeast Asia rose 120 per cent over final yr.

    Lees ook:

    Lees ook:

  • Banque Pour Le Commerce Exterieur Lao Public to launch BCEL-JCB Credit Card in Laos

    Banque Pour Le Commerce Exterieur Lao Public to launch BCEL-JCB Credit Card in Laos

    Banque Pour Le Commerce Exterieur Lao Public (BCEL) and JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., have announced to launch BCEL-JCB Credit Card in Lao People’s Democratic Republic (Laos).

    BCEL-JCB Credit Card can be used at about 29 million POS using JCB acceptance network and there are many more privileges that BCEL-JCB Credit Cardmembers will enjoy at more than 100 merchants in Laos, and also can have advantage and special offers at around 2,300 JCB merchants worldwide as well as the exclusive JCB Plaza Lounges located in popular destinations including Singapore, Hong Kong and Paris.

    BCEL is one of the leading commercial banks in Laos established in 1975. BCEL continued to grow and strengthen gradually in various fields including the size of assets, deposits, loans and the number of clients. The bank has 19 branches, 65 service units (outlets), and 11 foreign exchangers nationwide. JCB cards are today issued in 19 countries with about 90 million cardmembers and accepted at about 29 million merchants in 190 countries and territories around the world. JCBI and BCEL have had a partnership since 2013 for merchant acquiring to expand JCB card acceptance. With this launch, BCEL is the second bank to issue JCB cards in Laos.

    Phansana KHOUNNOUVONG – Deputy Managing Director of BCEL stated, “This project of BCEL-JCB Cards has the objective to widen the choices of products that can offer our customers with efficiency and convenience in terms of smarter payment in their daily lives, which will also come with reduction in cash transaction and with higher security. The primary target customers include those who are interested or desire to hold a credit card. We believe that this product will help widen our customer base and secure our position as the leader in credit card product in Lao market in long term. BCEL are always aware of the quality and high profile of JCB which is also accepted internationally. And it is our privilege to partner with JCBI in this project which results from our agreement on June 23 2014.”

    Kimihisa Imada, Deputy President of JCBI said: “The start of issuing with BCEL, the leading bank in Laos, will be a great opportunity for JCB card business in Laos. In JCB’s global expansion strategy, our current focus is the Mekong region because of its growing economy and the potential growth of the card payment market. Laos is located in the center of the region and shares borders with all of the other Mekong countries. The card market in Laos has great potential and I believe this market will rapidly expand in the next few years. With the cooperation of BCEL we would like to accelerate the card market, showing the people in Laos the advantages and benefits of using the BCEL-JCB card.”

    Banque Pour Le Commerce Exterieur Lao Public (BCEL) was established in 1975, by that time the bank operated as a specialized branch of former State Bank (The Bank of Laos), especially the monopolized implementation of international banking services for Lao government. In 1989, BCEL transformed into the fully commercial bank and continued to grow and strengthen gradually in various fields including the size of assets, deposits, loans and the number of clients. By October 2014, the bank has 19 branches, 65 service units (outlets), and 11 foreign exchangers nationwide and the bank also having a banking relationship with more than 30 high-profile banks worldwide. At present, BCEL has successfully become a strengthened public bank and leading bank in Lao P.D.R, the bank has set its new strategies from 2012 to become an advanced bank and to develop its service system to reach international standard. BCEL has won many awards from overseas: namely, in 2011, the Bank of the Year, Lao PDR, from The Banker Magazine, in 2012 won the Lao Domestic Technology and Operation Bank of the Year, Asian Banking and Finance Magazine, in 2013 won Most Innovative Retail Bank Laos; and global Banking & Finance Review Award 2013, in 2014, Laos Domestic Cash Management Bank of the year, Laos Domestic Technology and Operation Bank of the Year, Domestic Retail Bank of the Year-Laos, and Online Banking Innovative of the Year-Laos, from The Asian Banking and Finance Magazine.

    JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 29 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 19 countries and territories, with about 90 million cardmembers. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english

     

    Lees ook:

  • CIMB Thai Bank branching out into Laos

    CIMB Thai Bank branching out into Laos

    CIMB Thai Bank will open its first overseas branch in Vientiane in the third quarter of the year to service trade and other business activities between Thailand and Laos.

    The new branch forms part of Malaysia-owned CIMB Group’s retail banking initiatives this year, Subhak Siwaraksa, president and chief executive officer of the Thai unit, said yesterday.

    After the upgrade of the retail banking platform system last year, CIMB Thai’s domestic performance is expected to show significant improvement.

    Subhak said CIMB Group wanted to see a rising return on equity from CIMB Thai, the target being a top-3 ranking in the Thai banking industry by 2015 with a return on equity of 16-18 per cent, against 10-13 per cent at present.He added that the ROE target would be challenging as the bank had to use its capital carefully because of Basel III requirements. It will, therefore, emphasise fee-based income from retail banking through to wholesale banking.

    Chief financial officer Narongchai Wongthanavimok said the Vientiane branch would have the capability to serve retail clients and offer cross-border products to corporate clients in Thailand and Laos.

    CIMB Group acknowledges that the Laos market should fall under CIMB Thai’s remit because of the tight relationship between the two countries and expanding bilateral trade value.

    According to the Lao PDR Trade Portal, in the first 10 months of last year, the value of bilateral trade was US$4 billion (Bt120 billion), representing a year-on-year rise of more than 30 per cent.

    The two governments have jointly set an annual trade target of $5.77 billion by 2015.

    Narongchai said that under Laotian law, the registered capital required for a bank branch was $12.5 million.

    However, given the unclear legal framework in Laos concerning consumer lending, CIMB Thai’s branch will focus on providing financial services to corporate customers and on wealth management, rather than on consumer loans, he said.

    The bank will not lend to Lao customers if they have no collateral base in Thailand, he said, adding that this would help reduce the risk from doing banking business in Laos.

    The bank will target Thai customers who have activities in Laos, as well as Laotian companies conducting business in Thailand, which are mostly small or medium-sized enterprises.

    Wealth management

    As well as their domestic operations, many Laotian companies have activities in border provinces in Thailand. As these companies are generally affluent customers, wealth management and deposits will be the priorities for CIMB Thai at the outset of offering financial services in the neighbouring country.

    “We can service three currencies for deposits: baht, kip and US dollars. Moreover, the branches in border provinces such as Nong Khai and Udon Thani will help support activities and transactions in Vientiane as well,” said the CFO.

    The Vientiane branch will have 10 staff, two or three of whom will be Thais, including the manager.

    CIMB Thai expects the branch to break even by 2016.

    Savannakhet and Pakse are other interesting locations for expanding the Laos network because of the potential opportunities they offer in terms of tourism and trading, Narongchai said.

    If the bank were to open more than three branches, the establishment of a local subsidiary would be a feasible option, he said.

    The registered capital required for setting up a commercial banking subsidiary in Laos is $30 million. – See more at: https://www.nationmultimedia.com/business/CIMB-Thai-Bank-branching-out-into-Laos-30201241.html#sthash.vYhTcDjX.dpuf

    Lees ook: