Chief Executive Officer of the LBB, Mr Chanthone Sitthixay, leads the celebration of the Lao Bullion Bank (LBB)’s first-year anniversary last week.

Lao Bullion Bank enters second year with expanding vision for financial stability

The Lao Bullion Bank (LBB) has marked its first year of operations by outlining key achievements and priorities for the year ahead, reaffirming its commitment to bolstering the nation’s financial stability and advancement of the bullion industry in Laos.
An event to celebrate the bank’s anniversary in Vientiane last Friday was attended by the Deputy Governor of the Bank of the Lao PDR and Vice Chairman of the Board of Directors of the Lao Bullion Bank, Mr Soulysak Thamnuvong; Deputy Minister of Industry and Commerce and Vice Chairman of the Board of Directors of the Lao Gold Bank, Mr Chansaveng Bounyong; and other distinguished guests. 
Speaking at the ceremony, the bank’s Chief Executive Officer, Mr Chanthone Sitthixay, said the Lao Bullion Bank had formulated new mechanisms for integrating gold into the financial system through formal and transparent processes.
He noted that public participation had played a central role in the bank’s early success, with more than 50,000 downloads of the LBB Plus application, over 35,000 customer accounts opened, and more than two tonnes of gold trading over the past 12 months.

Mr Chanthone said the bank had become the first institution in Laos to develop a structured system for mobilising gold deposits, promoting transparency and verifiability in the management of gold resources and laying the groundwork for a consolidated national database.
He added that the bank now operates a refinery capable of producing gold that meets internationally recognised standards, and has introduced new financial tools that allow customers to save in gold and use gold-backed certificates to access credit.
The CEO emphasised that LBB’s development aligns with the government’s National Strategy on Financial Stability, helping create conditions for the establishment of a national gold reserve and supporting wider monetary reforms.
He also noted that the inaugural Lao Gold Festival attracted considerable domestic and international interest, signalling the potential for the Lao gold sector to gain a stronger regional presence. The bank’s membership in the Singapore Bullion Market Association, he said, further supports this transition.

Mr Chanthone expressed deep appreciation to the Party and government for the guidance and support provided throughout the bank’s development, particularly from the Ministry of Finance, the Bank of the Lao PDR, and the Ministry of Industry and Commerce.
He also commended LBB staff and management for their dedication during what he described as a challenging but productive first year.
Looking ahead, he said the bank will focus on expanding digital gold banking services, improve access to gold-related transactions nationwide, strengthen gold export mechanisms, and advance preparations for future gold-linked financial instruments.
The bank also plans to stage a more elaborate edition of the Lao Gold Festival as part of efforts to promote gold as a cultural and economic strength for the country.
Mr Chanthone reaffirmed the bank’s commitment to transparency, financial stability, and responsibility to the nation, saying the LBB will continue working to ensure customer confidence and contribute to long-term economic development.

By Times Reporters
(Latest Update December 10, 2025)