Indochina Bank’s VIP Appreciation Dinner 2022, IB Bank signature was themed differently each year.

In solidifying its strong relationships with their VIP customers over the years, Indochina Bank (IB) celebrated this year by organizing a gala event at the Landmark Riverside Hotel in Vientiane on 22^nd December. The party is an annual appreciation event for all its premier customers since IB began it operations on 2009. The glamorous event was themed, "TAWI-SAMAI, LAO CULTURE, OUR NATIONAL PRIDE”, and was accompanied by a spectacular live show that included a number of prominent Lao performers and superstars from Thailand. There were numerous items which were given away during the lucky draw with the grand prize being a Kia Rio 5D.

Indochina Bank (IB) witnessed continued growth in 2022 despite stiff competition, the bank’s Vice Chairman, Mr. Tay Hong Heng, said on Thursday.

 “It makes us more alert and prompts us to be more innovative. In addition, it makes us more conscious about our service and being a trendsetter in the industry. Overall, competition makes us lively whilst forcing us to be the best at all times” he said.

In his opening speech, Mr. Tay Hong Heng said:

“The continuous growth of VIP customers is a clear indication that Indochina Bank delivers what it promises; superb, courteous and efficient service. Despite the challenges of the Covid 19 pandemic, our bank continued to strive forward with new product rollouts such as UnionPay debit card while further enhancing security on our existing products.

To further establish ourselves in the market, we have also invested in a Fintech company, called Kok Kok Solutions which notably entails Kok Kok Pay, a new digital wallet for Laos. This development was made possible due key partnerships that we had recently established. With our specialization in payments, we are able to introduce technologies that will benefit our strategic partners, such was Kok Kok Mart, whilst also rewarding our valued customers.  

At Indochina Bank, we take pride into giving the best to our VIP customers and have taken our banking service to another level. To us, it's not about banking service but rather our passion to serve. By repositioning ourselves for the future, I’m also happy to announce that for 2023, we will be relaunching our VIP program, where we will be offering more benefits and privileges to our valued clients.”

Indochina Bank (IB) is one of more than 40 banking institutions in Laos and aims to serve customers and help Lao society. It has provided jobs to more than 250 local people throughout the country since the bank’s inception.

The IB headquarters is located in Vientiane. The bank has expanded its branches and service units from the north to south of Laos in the provinces of Xiengkhuang, Luangprabang, Luangnamth, Oudomxay, Borikhamxay, Khammuan, Savannakhet and Champassak. It also has plans for further expansion to other provinces.

Recently, IB launched a suite of banking products such as Mobile Banking Application call “IB Cool” and “Cool e-Wallet”, and the IB Payment Gateway, which not only focuses on processing Lao kip transactions but is able to accept international bank cards such as Visa and UnionPay International. Combined with lower servicing costs, it is hoped that the bank’s new digital solutions can help to promote e-commerce participation and digital payments.

“Here at Indochina Bank, through our core values of honesty and the highest integrity, combined with innovations, we are proud to introduce the Indochina Bank Payment Gateway Solution. Through this platform we envisage an uptake in digital commerce from Lao consumers. Laos, however, still faces many hurdles that prevent participation in e-commerce transactions. These hurdles may include an over-reliance on cash and lack of trust. We believe that when banks, third-party providers, merchants, and platform owners work in collaboration, we can together overcome these hurdles” Mr Tay Hong Heng said.

IB was the first bank in Laos to qualify and launch Visa Platinum Credit Card, which offers a raft of benefits and travel insurance for cardholders worldwide. In partnership with Visa, a global technology company in the payments industry, a card tailored to the lifestyle needs and aspirations of the affluent segment in Laos with even more ways to celebrate life’s finest pleasure in style and grandeur was introduced.

Whilst also being the first to offer 3D Security on their Visa cards for online transactions, the bank is also pleased to offer two additional categories of credit cards namely, Gold & Classic which are targeted at other segment of customers. “We have a large segment of customers and it is crucial for us to ensure all our customers are catered for”, reiterated by Mr Tay. 

IB is ranked amongst the top of the table in term of assets, deposits and loans, compared to its peers in banking circles. IB’s solid performance, according to the bank and its strategic growth plan will ensure continued success for the bank.