KUALA LUMPUR, Oct 30 -- RHB Banking Group is intensifying cross-border efforts while strengthening collaboration with the Laos government to assist small and medium enterprises (SMEs) to build and expand their businesses regionally.
RHB in a statement today said, RHB Bank Lao Ltd, a subsidiary of the RHB Banking Group celebrated its fifth anniversary recently and has since helped Malaysian SMEs set up businesses with the local SMEs in Laos.
“It continues to support consumers and businesses alike, mainly in food and beverages services and also for the construction sector,” it said.
Since its inception in 2014, the RHB Bank Lao has since grown to become the second-largest Malaysian bank operating in Laos in terms of asset size.
Its SME asset growth has grown from US$21.7 million in 2015 to US$52.8 million in 2018.
In 2018, SMEs in Laos made up almost 60 per cent of RHB Bank Lao’s portfolio.
RHB Bank Lao Ltd chairman, Chin Yoong Kheong said as a customer-centric bank, putting its customers first have always been their key agenda and in doing so strives to create mutually beneficial partnerships that offer customers greater value.
“Key to this is understanding the different needs of our customers at different stages of their life and in their business,” he said during the group’s fifth-anniversary dinner held in Laos recently.
The group commenced business in Laos on June 6, 2014, with the first branch in Phonxay Village.
Since then, RHB Bank Lao Ltd has expanded to having two additional branches with the second branch located in Sithan Neua, and the third branch in Dongdok.
--BERNAMA