The Handover ceremony between LaovietBank (LVB) and Bank for Investment and Development of Vietnam JSC (BIDV) by comply with the document No: 6963/NHNN-TTGSNH and document No: 6964/NHNN-TTGSNH dated: 23/09/2013 of Bank of Vietnam.

LaoVietBank is the joint venture Bank between BIDV and BCEL was established in 1999 after fourteen years ago on business operation, LaoVietBank have implemented in roles, be the bridge to grant the loan to government projects of two counties and contributing to various important projects of Vietnam business in Laos.

The average growth rate 40%/year until 30/09/2013 the total of properties had achieved all most 550 millions dollar, capital register 70 millions dollar is be the second of commercial Bank in Lao and business operation can get the continuous profits, widely expansion there is Head office in Vientiane capital and 07 branches in important economic Zone, including 02 branches in Hanoi and Ho Chi Minh

Achievement of LaoVietBank was contributed from 02 branches in Hanoi

( operate the business since 2000 ) and Ho Chi Minh ( operate the business since 2003 ) .

In the current LaovietBank two branches have completed on the duties and their missions in the tasks to support to mother Bank in Lao. In the development strategies of LaovietBank in the next. Focusing to improve environment and developing LaoVietBank location in Lao market. two mother banks had agreed handover 02branches of LaoVietBank in Vietnam to BIDV.

According to the approval from government, Bank of Lao PDR, Bank of Vietnam, BIDV and BCEL had coordinated with LaoVietBank in procedures transferring 02branches of LaoVietBank in Vietnam to BIDV.

BIDV (Chuong Doung) and BIDV (Ben Nghe) was taked the asset, liabilities and obligation of branches law of LaoVietBank Hanoi, Ho Chi Minh in appropriate with the law in current and the direction of Bank of Vietnam. BIDV (Chuong Doung) and BIDV (Ben Nghe) are the level 1 ranked No: 119,120 dominating by BIDV, be the legal representative of BIDV, there is the seal, asset conclusion document , recording the statement with Bank for Investment and Development of Vietnam JSC, After ceremony. BIDV and LVB will set the liquidity of asset of LaoVietBank two branches in Vietnam with the agreement of Bank of Vietnam.