The Bank of the Lao published an update on a courtesy visit by Liao Lin, Chairman of the Board of Directors of Industrial and Commercial Bank of China Limited (ICBC) Head Office, focused on the central bank’s oversight of ICBC’s Vientiane branch and opportunities to deepen cooperation between the Bank of the Lao and ICBC. ICBC provided a brief overview of its operations in China and across its global network and set out five strategic directions covering smarter risk management, modernising systems, accelerating digitalisation, diversifying structures and services, and strengthening sustainability foundations. The Deputy Governor highlighted ICBC Vientiane’s implementation of Lao requirements and its contributions to Lao socio-economic development, including financing projects and promoting the use of kip-yuan local currencies in bilateral trade and investment; the visit also included a courtesy call on Laos’s Deputy Prime Minister, which the Deputy Governor attended.
Bank of the Lao 2025-02-20
Bank of the Lao receives ICBC board chair and discusses closer cooperation and supervision of ICBC’s Vientiane branch
The Bank of the Lao reported on a courtesy visit by Liao Lin, Chairman of the Industrial and Commercial Bank of China (ICBC), focusing on oversight of ICBC's Vientiane branch and potential cooperation. ICBC outlined strategic directions in risk management, digitalisation, and sustainability. The Deputy Governor noted ICBC Vientiane's compliance with Lao regulations and its role in socio-economic development, including promoting kip-yuan trade.