Vietnam lender SHB to expand Laos operation: executive

Reuters

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Saigon-Hanoi Bank (SHB) has secured the Vietnamese government's approval to expand operations of its Laos branch into a full-fledged bank, an SHB executive said on Tuesday.
The bank in Laos of Hanoi-based SHB, one of Vietnam's 10 biggest partly-private lenders by assets, will have a registered capital of $50 million, said the executive who requested anonymity as she is not authorised to speak to media.
Vietnamese companies and banks have been expanding presence in neighbouring Laos in recent years, ranging from timber business to telecoms, infrastructure construction and growing coffee and rubber as well as providing financial services.

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