History and Vision

Agricultural Promotion Bank (APB) established by Prime Minister’s Decree number 92/PM on June 19, 1993 with abbreviation name as “APB” which is a development bank and entity to provide financing mainly for agricultural and forestry sector. It run it’s not for profit business to provide soft loan to agricultural people both individually and co-operatively with source of capital from government and other entity. During that time APB did not call for any deposit. Meanwhile it was operate under special management compare to other financial institute. The total investment capital is 1,000,000,000 Kip which divided into 1,000,000 shares each shares cost 1,000 Kip. Ministry of Finance hold 80% of the total share.

On June 21, 1993, the Governor of the Bank of the Lao PDR issue agreement number 45/BOL on separation of rural financing activity from Nakhoneloaung Bank and Setthathirath Bank. After that the set up committee of APB have decided to separate some Assets and employee from those two banks to assure that APB will be able to established and operate its role. Then APB started its operate for customer in Vientiane and all over the country. On August 18, 1993 APB was officially inaugurated with head office in Vientiane. APB board of director comprises of 6 members which comprising of: Vice Governor of the Bank of the Lao PDR acting as a chairman, Managing director is a vice chairman, 1 member who is representative from Ministry of Finance, 1 member who is representative from Ministry of Agriculture and Forestry, 1 member who is representative from Ministry of industrial and commerce and 1 member who is representative from Banking Credit department, BOL. APB has two directors where the organization comprising of Cabinet, Personnel department, Accounting Department and loan department, with 52 staffs (17 females). From March 2000-2006, APB was operating under decree of Commercial Bank. All financing activity is focusing on government project and government plan with low interest rate. APB also focused on promote source of fund to the system. Then it expanded its function on service and payment. Since then APB started to have all kind of saving account and able to extend service network throughout the country. APB followed policy and instruction on security which is issued by the BOL such as: establish reserve fund, depreciation deduction and mainly operate as not for profit business operation with reasonable income to assure the bank will not facing any financial difficulty. During that time the funding was at very low level. Since 2007, APB adopted its new vision: to be leader in rural area financing, operating business under market mechanism with self-sufficient in term of financing and in long run contribute to poverty reduction, economic growth and prosperity of the Lao PDR. APB improved 360 degree of its operation such as: policy and regulations, good governance, investment on human resource management in area of accounting and risk management to encourage international support and cooperation. In term of technical aspect, we focused on modernize our system especially upgrade our information system, variety banking products and services to offer to our customer and to prepared for future development. By end of 2012, our financial statement complied with International Financial Reporting Standard (IFRS) with total assets of 4,192 Billion Kip 6.3% increase (average increase was 43% since 1993). Total investment capital was only 800 million Kip on established date and to be 168.6 billion kip. Main source of increase is from government contribution and profit from operation along the year. Since then, our funding is at sufficient level as required by law. As of today, we are market leader in term of agriculture and rural financing and development. We extend our service network to cover more customer especially those districts which lied under government’s priority plan and local area for social development. We can response to more and more customer. Our banking services are now variety and at competitive level such as improvement in local and international payment. As of today APB have 1 head office and 17 branches with 92 service units country wide.

Since 1994, APB follow the following vision: Market leader in financing for rural area of Lao PDR and operate business under market mechanism, to ensure financial sustainability and to contribute in poverty reduction and economic development as well as prosperity of the Lao PDR.

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USD 20.064 20.192
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CNY 2.753 2.780
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VND 0,7980 0,8140
Date: 22-09-2023 More detail »

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