Phongsavanh Bank, is the first wholly privately owned bank in Lao P.D.R., opened its doors to the general public in March 2007. With a registered capital of USD$10 million, Phongsavanh Bank provides full retail and commercial banking services to its client base. Phongsavanh Bank was established to develop and enhance the efficiency of local financial institutions, covering all aspects of investment promotion and facilitating direct investment by national and foreign entities. Phongsavanh Bank is the first locally owned private bank in the Lao PDR, which directly leads in the global-of-the-art banking technical standard and management system to Lao banking industry. The establishment of Phongsavanh Bank is recognized as writing out a new chapter of the banking history of Laos. Since a rapid development in 5 years, comparing with other local bank, Phongsavanh Bank has become the well-known