Vietinbank signs cooperation contract with Laos Development Bank

Vietinbank signed a cooperation contract with the Laos Development Bank for a number of financial areas like client services, credit card-issuing and trade supports.

At the signing ceremony, Vietinbank also disclosed its desire to become a strategic shareholder in LDB.

At present, LDB has the largest banking network in Laos and one of the two Lao State-run banks that will be privatised.

Under the schedule, LDB will first issue its stocks to the public by the end of 2011.