VIENTIANE (Biz Hub)— The Sai Gon Thuong Tin Joint Stock Commercial Bank (Sacombank) on yesterday officially opened the new headquarters of its branch in Vientiane, Laos .

Sitting on a site of 9,000sq.m in the Lao capital city's central district, the five-storey building is equipped with state-of-the-art facilities.

Sacombank Deputy General Director Nguyen Minh Tam said over the past five years, the bank has provided financial services for all customers in Laos .

The bank has also actively participated in an array of social activities, contributing to the cause of poverty reduction in the host country, he said.

By July 31 this year, Sabombank's total asset in Laos reached US$102 million. The branch is projected to become a wholly foreign-invested bank and further expand its operation in Laos. — VNS