History and Vision

🞺 History of Agricultural Promotion Bank Co., Ltd: History

Agricultural Promotion Bank Co., Ltd (APB) was established on June 19, 1993, and has started its business operation since 1993. In the beginning, it was 100% owned by the government which has been developed according to related sectors and has provided the financial services with the objectives of providing the credits mainly for the agricultural and forestry sector.

By the year 2020, the Government has recognized and seen the importance of the Good Governance and the effective and profitable business, the Government of the Lao PDR has directed to improve the APB and agreed to sign a Memorandum of Understanding (MOU) on the joint investment in the APB between the Ministry of Finance and Phongsupthavy Group Co., Ltd in March 2021 and on December 13, 2021, the signing of the joint venture agreement in the APB between the Ministry of Finance and Phongsupthavy Group Co., Ltd was officially completed and has improved the management model of APB and transferring from the Government holding 100% shares to become a joint venture with Phongsupthavy Group Co., Ltd holding 70% shares and the government holding 30% shares and changing its business form to a limited company. It can be said that the APB is currently ready to operate its business in a comprehensive manner and operating its business under the management of the Bank of the Lao PDR and the Laws of the Lao PDR as well as to comply with its rights, roles, mandates and vision in the National social-economic development.

Locations of service points: The APB has 1 head office and 17 branches with 82 service units and 113 ATM in different districts countrywide.

🞺 Vision:

  • To develop the APB to become a bank for the comprehensive development, especially in the development of the agriculture related to the processing in rural areas with modern management methods,
  • To provide the comprehensive financial services and the commercial productions as to improve the quality of life of farmers in a sustainable way,
  • To conduct the comprehensive investment in the agriculture-forestry development linked to the modern industry as well as to be able to integrate with the regional and international community,
  • To strive for and be able to register in the Lao Stock Market to become a truly public bank.

  • 🞺 Mission:

  • To provide the perfect financial services to meet the needs of customers with a focus on increasing the effectiveness of the agricultural value-added cycle with the cooperation of all parties involved.
  • To develop the resources management together with all parties to promote and build the capacity for farmers and communities by supporting them, and sharing benefits fairly and widely.
  • To manage the capital to meet the needs as well as to seek the capital that is suitable for customers and the business operations of APB.
  • To promote the use of innovation and technology to increase the effectiveness of the management and the service delivery as well as to increase the competitiveness of customers;
  • To commit to good business control and to creating stable and sustainable values to create a balance between the economy and the environment;
  • To reform and create a tool to analyze the investments clearly and effectively.
  • To develop an IT team with a modern, convenient, fast, and secure technology system to match the current and future lifestyles equivalent to the domestic banks that meet standards and to be developed to be able to integrate with the international community;
  • To strive for excellence in producing different products and generating profits consistently.
  • Currency Buying Selling
    USD 21,337 21,473
    THB 659.90 666.50
    CNY 3,009 3,064
    EUR 22,911 23,135
    VND 0.82 0.83
    Date: 28-05-2024 More detail »

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