Phongsavanh Bank is the first private commercial bank in Lao PDR, established since March 29, 2007. The main objective of the establishment is to contribute financially to the development of economy of Lao PDR is recognized as writing out a new chapter of the banking history of Laos, opened its doors to the general public. It offers modern and reliable integrated financial services to its clients, assured by ISO 9001:2015 accreditation in its banking operations.
The Founder has a vision for the bank – to be a domestic financial institution which would be accessible to people from all walks of life, be it retail customers, small and medium enterprises, and multinational companies.
Over the years, Phongsavanh Bank has built a strong reputation. Firstly, it helped to stabilize the local currency exchange rates by working with the Central Bank and thus, boosting cross-border businesses and investors’ confidence. Secondly, it simplified the banking procedures thereby improving the public’s confidence in the bank.
Phongsavanh Bank has the goal of enhancing public understanding of banking systems and related financial services. Concomitantly, this will contribute to improved quality of life, small-scale business promotion, and attracting both local and foreign investment.
Since a fast development for 11 years, comparing with other local banks, Phongsavanh Bank has become the well-known “leading bank” with the most rapid growth in Laos. The major achievements are as below:
- The bank has been accredited with the international standard of ISO 9001:2015 for banking operations on 03 February 2018 from Transpacific Certifications Limited Company.
- Expansion of Branches, Service Center an Service Units – we currently have more than 40 branches, service centers and service units, throughout the country and an international representative office in Thailand. We are the only one bank in Laos providing service for 7 days a week and 24 hours a day with ATMs and POS merchants.
- Provision of convenient banking card service with ATMs and POS terminals for card holders, with Visa Card, Master Card, JCB, UPI
- Provision of services on foreign currency exchange, deposit, loan, letter of credit, domestic and international remittance in Lao Kip, Thai Baht, US dollar, Chinese Yuan.
Phongsavanh Bank has received many international awards from various organizations which is the pride of our bank. These awards motivate us to continue to reach a higher level of customer satisfaction.
- Quality Summit, New York 2010 for Gold Award for Excellence and Business Prestige on 31 May 2010
- Quality Award, Paris 2011 for Gold Award for Leadership in Excellence and Quality in Accordance with QC100 Criteria Prestige
- Belgium for European Award for the Best Practices 2011
- Rome Italy for The BIZZ 2011 Reaching The Stars
- Europe Business Assembly, Oxford, United Kingdom for Best Enterprise 2012 on 26 October 2012
- Dubai for Majestic Falcon Award for Quality & Excellence Prize 2016
- Berlin, Germany for ESQR’s Quality Choice Prize 2016 on 12 December 2016
- Oxford, England for Best Enterprise Award 2016 on 20 December 2016