Joint Development Bank (JDB) has announced plans to offer a mobile banking app this year. The mobile banking app will provide customers with a high-tech money transfer system and e-commerce, or online banking system, which will ensure customers can access convenient, safe and less time-consuming banking services in 2017.
Meanwhile, it was stated that the bank performed well in 2016, and had made more than 10 billion kip in net profit, with a new target to reach 2,800 billion kip in savings and 2,100 billion kip in loans within 2017.
Established in early October 1989, Joint Development Bank is one of the longest-running banks in Laos. The bank was originally founded as a joint-venture between a Thai businessman, holding 70% of shares, and the Bank of Laos, holding 30%. In 2009, the Bank of Laos its shares to the Thai shareholder and in late 2012 the Thai shareholder sold the the business to Simeuang Group.
Joint Development Bank has 48 branches nationwide and will release its online banking app this year.