Malaysia’s RHB receives banking license in Laos

Reading Time: 1 minute

RHB bankRHB Banking Group has received a bank license from the Laos authorities to establish a bank. The group said the approval was received from the governor of the Bank of Lao People’s Democratic Republic on April 30 for the establishment of the RHB Bank Lao Limited, a subsidiary of RHB Bank Bhd.

“RHB Bank Lao Limited will commence business operations upon receipt of the business registration licence from the Ministry of Industry and Commerce of the Lao People’s Democratic Republic,” the group said in a filing to Bursa Malaysia on May 7.

The move comes as RHB is deepening its regional footprint outside of Malaysia as it serves its local and international clients across ASEAN and greater China. Part of its strategy is to raise its overseas revenue from 11 per cent to 30 per cent by 2017 and 40 per cent by 2020. With a regional presence now spanning nine countries including Singapore, Hong Kong, Indonesia and Thailand, RHB is taking very serious steps towards achieving its ambitious offshore revenue target.

RHB is also studying its prospects in the Philippines for banking opportunities.

“With a large English-speaking and highly-educated population, and with remittance coming in from their overseas workers, the Philippines has all the right fundamentals. Hopefully, we can enter the Philippine market by this year,” says Kellee Kam, group managing director of RHB Banking Group.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

RHB Banking Group has received a bank license from the Laos authorities to establish a bank. The group said the approval was received from the governor of the Bank of Lao People’s Democratic Republic on April 30 for the establishment of the RHB Bank Lao Limited, a subsidiary of RHB Bank Bhd.

Reading Time: 1 minute

RHB bankRHB Banking Group has received a bank license from the Laos authorities to establish a bank. The group said the approval was received from the governor of the Bank of Lao People’s Democratic Republic on April 30 for the establishment of the RHB Bank Lao Limited, a subsidiary of RHB Bank Bhd.

“RHB Bank Lao Limited will commence business operations upon receipt of the business registration licence from the Ministry of Industry and Commerce of the Lao People’s Democratic Republic,” the group said in a filing to Bursa Malaysia on May 7.

The move comes as RHB is deepening its regional footprint outside of Malaysia as it serves its local and international clients across ASEAN and greater China. Part of its strategy is to raise its overseas revenue from 11 per cent to 30 per cent by 2017 and 40 per cent by 2020. With a regional presence now spanning nine countries including Singapore, Hong Kong, Indonesia and Thailand, RHB is taking very serious steps towards achieving its ambitious offshore revenue target.

RHB is also studying its prospects in the Philippines for banking opportunities.

“With a large English-speaking and highly-educated population, and with remittance coming in from their overseas workers, the Philippines has all the right fundamentals. Hopefully, we can enter the Philippine market by this year,” says Kellee Kam, group managing director of RHB Banking Group.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid