Acleda profiting in foreign markets
Acleda Bank’s foreign operations in Laos and Myanmar performed well during the first quarter of 2017 while recording strong net profits last year, leading the bank to seek further regional expansion, according to a senior executive. Acleda has 41 commercial branches in Laos and six MFI locations in Myanmar. The bank expanded to Laos in 2008 followed by Myanmar in 2013. So Phonnary, vice president of Acleda Bank, said that outstanding loan amounts in Laos increased by 17 percent by the end of the first quarter, growing from $104 million to $123 million. The MFI loan portfolio in Myanmar nearly doubled from $8.5 million to $15.7 million during the same period.
