|Vientiane and Tokyo, May 26, 2015- Banque Pour Le Commerce Exterieur Lao Public (BCEL) and JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., have announced to launch BCEL - JCB Credit Card in Lao People's Democratic Republic (Laos).
BCEL - JCB Credit Card can be used at about 29 million POS using JCB acceptance network and there are many more privileges that BCEL - JCB Credit Cardmembers will enjoy at more than 100 merchants in Laos, and also can have advantage and special offers at around 2,300 JCB merchants worldwide as well as the exclusive JCB Plaza Lounges located in popular destinations including Singapore, Hong Kong and Paris.
BCEL is one of the leading commercial banks in Laos established in 1975. BCEL continued to grow and strengthen gradually in various fields including the size of assets, deposits, loans and the number of clients. The bank has 19 branches, 65 service units (outlets), and 11 foreign exchangers nationwide. JCB cards are today issued in 19 countries with about 90 million cardmembers and accepted at about 29 million merchants in 190 countries and territories around the world. JCBI and BCEL have had a partnership since 2013 for merchant acquiring to expand JCB card acceptance. With this launch, BCEL is the second bank to issue JCB cards in Laos.
Phansana KHOUNNOUVONG - Deputy Managing Director of BCEL stated, “This project of BCEL - JCB Cards has the objective to widen the choices of products that can offer our customers with efficiency and convenience in terms of smarter payment in their daily lives, which will also come with reduction in cash transaction and with higher security. The primary target customers include those who are interested or desire to hold a credit card. We believe that this product will help widen our customer base and secure our position as the leader in credit card product in Lao market in long term. BCEL are always aware of the quality and high profile of JCB which is also accepted internationally. And it is our privilege to partner with JCBI in this project which results from our agreement on June 23 2014."
Kimihisa Imada, Deputy President of JCBI said: “The start of issuing with BCEL, the leading bank in Laos, will be a great opportunity for JCB card business in Laos. In JCB's global expansion strategy, our current focus is the Mekong region because of its growing economy and the potential growth of the card payment market. Laos is located in the center of the region and shares borders with all of the other Mekong countries. The card market in Laos has great potential and I believe this market will rapidly expand in the next few years. With the cooperation of BCEL we would like to accelerate the card market, showing the people in Laos the advantages and benefits of using the BCEL- JCB card."
Information about Banque Pour Le Commerce Exterieur Lao Public - BCEL:
|＜BCEL -JCB Credit Card＞
Banque Pour Le Commerce Exterieur Lao Public (BCEL) was established in 1975, by that time the bank operated as a specialized branch of former State Bank (The Bank of Laos), especially the monopolized implementation of international banking services for Lao government. In 1989, BCEL transformed into the fully commercial bank and continued to grow and strengthen gradually in various fields including the size of assets, deposits, loans and the number of clients. By October 2014, the bank has 19 branches, 65 service units (outlets), and 11 foreign exchangers nationwide and the bank also having a banking relationship with more than 30 high-profile banks worldwide. At present, BCEL has successfully become a strengthened public bank and leading bank in Lao P.D.R, the bank has set its new strategies from 2012 to become an advanced bank and to develop its service system to reach international standard. BCEL has won many awards from overseas: namely, in 2011, the Bank of the Year, Lao PDR, from The Banker Magazine, in 2012 won the Lao Domestic Technology and Operation Bank of the Year, Asian Banking and Finance Magazine, in 2013 won Most Innovative Retail Bank Laos; and global Banking & Finance Review Award 2013, in 2014, Laos Domestic Cash Management Bank of the year, Laos Domestic Technology and Operation Bank of the Year, Domestic Retail Bank of the Year-Laos, and Online Banking Innovative of the Year-Laos, from The Asian Banking and Finance Magazine.