Maybank opens first Laos branch

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Malaysia’s largest bank, Maybank, opened its first branch in Laos on November 5, completing the bank’s coverage of all 10 ASEAN member nations.

The branch was opened by Prime Minister Datuk Seri Najib Tun Razak.

“Our financial sector is evolving, looking to new horizons; investing more internationally, strengthening connections with our regional partners, and building capability and strength beyond our borders,” Najib said when opening the bank’s branch at Lane Xang Avenue, the main financial center of Laos’ capital Vientiane.

Maybank’s move comes closely after Laos has successfully joined the World Trade Organisation last week after 15 years of talks, showing Laos’ potential as a growth market and its commitment to opening its economy.

According to Najib, Malaysians were among the top 10 foreign investors in Laos last year, and with trade between Laos and ASEAN increasing and global firms looking for local support, Malaysian banks “could turn strong beginnings into lasting success.”

Maybank is Malaysia’s regional financial services leader with an international network of over 2,200 offices in 20 countries including Hong Kong, China, Bahrain, Uzbekistan, Pakistan, India, Saudi Arabia, UK and the US. It has over 46,000 employees serving more than 22 million customers worldwide.

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Reading Time: 1 minute

Malaysia’s largest bank, Maybank, opened its first branch in Laos on November 5, completing the bank’s coverage of all 10 ASEAN member nations.

Reading Time: 1 minute

Malaysia’s largest bank, Maybank, opened its first branch in Laos on November 5, completing the bank’s coverage of all 10 ASEAN member nations.

The branch was opened by Prime Minister Datuk Seri Najib Tun Razak.

“Our financial sector is evolving, looking to new horizons; investing more internationally, strengthening connections with our regional partners, and building capability and strength beyond our borders,” Najib said when opening the bank’s branch at Lane Xang Avenue, the main financial center of Laos’ capital Vientiane.

Maybank’s move comes closely after Laos has successfully joined the World Trade Organisation last week after 15 years of talks, showing Laos’ potential as a growth market and its commitment to opening its economy.

According to Najib, Malaysians were among the top 10 foreign investors in Laos last year, and with trade between Laos and ASEAN increasing and global firms looking for local support, Malaysian banks “could turn strong beginnings into lasting success.”

Maybank is Malaysia’s regional financial services leader with an international network of over 2,200 offices in 20 countries including Hong Kong, China, Bahrain, Uzbekistan, Pakistan, India, Saudi Arabia, UK and the US. It has over 46,000 employees serving more than 22 million customers worldwide.

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