• SHB-Habubank M&A deal completed

• SHB increases investment in Cambodia

With an initial chartered capital of US$13 million, the subsidiary will fully operate as a commercial bank in Laos, offering a number of services.

SHB General Director Nguyen Van Le said that the bank plans to establish a wholly Vietnamese-invested bank in the neighbouring country’s capital, Vientiane, next year.

Earlier this year, SHB established its first branch in Phnom Penh, Cambodia.

By June 2012, Vietnamese businesses had invested in 435 projects in Laos, with a total investment of US$5.2 billion. They are expected to increase their total investment amount to US$7 billion in 2015.

Two-way trade between Vietnam and Laos is predicted to reach US$1 billion by the end of this year. Vietnam is currently Laos’ second largest investor.