Laos-Vietnam Bank to double chartered capital

The chartered capital of Laos-Vietnam Joint Venture Bank may be raised from $35 million to US$70 million in May 2012.

This was unveiled by the chair of management board in Bank for Investment and Development of Vietnam, Tran Bac Ha.

At the same time, the bank will open new branch in Luong Prabang province before August 2012.

Bidv and the Banque pour le Commerce Exterieur Lao established LVB in June 1999 with initial chartered capital of $10 million.