DGB Financial Group from the Republic of Korea has expanded its financial business into Laos, after the company performed well in its home country.
The company has established DGB Lao Leasing Co., Ltd in Vientiane Capital, and an official opening ceremony was held last month.
The company’s chairman, Sonexay Sitphaxay, noted that financial institutions had grown significantly in Laos, and now play an essential role in helping individuals and businesses to access funding.
DGB Financial Group has over fifty years experience in the finance sector in Korea, and the company believes this experience will help it to become a market leader in Laos. The company hops to assist consumers on low and medium incomes to gain access to financial services.
There are now 166 financial institutions registered with the Bank of the Lao PDR, including 29 leasing companies.
“DGB Financial Group invests in various financial businesses so we hope that besides the leasing business the company will be able to expand its business into various financial areas in Laos,” Sonexay added.