Bank executives and staff attend the ceremony.

JDB forms new management team in preparation to enter ASEAN market

The Joint Development Bank (JDB) held a handover ceremony between former and new Managing Directors on May 18 at the bank’s head office in Vientiane.
The ceremony was attended by the Director General of the Banking Supervision Department, Mr Aloun Bounyong; Director General of the Monetary Policy Department, Mr Soulysak Thamnuvong; Director General of the Banking Operation Department, Mr Khamkeo Visisombath from the Bank of the Lao PDR; and Chairman of the Shareholders’ Committee of the Joint Development Bank, Mr Ekaphanh Phapithack, along with JDB’s board of directors including high-level executives.

Chairman of the Shareholders’ Committee of the Joint Development Bank, Mr Ekaphanh Phapithack (left), congratulates the new Chairman of the Board of Directors, Mr Vilay Siphaphone.	The handover of duties between former and new Managing Directors of the Joint Development Bank.

In the opening ceremony, JDB’s former Managing Director and CEO, Mr Vilay Siphaphone, hand over the duties to the new Managing Director and CEO, Mr Sakhone Yorphanxay, to continue the mission and vision of the Joint Development Bank to continuously progress by turning itself into “fresh mindset” oriented company to capture a higher market share in ASEAN, as well as integration into the global economy. 
At the ceremony, the new Managing Director and CEO, Mr Sakhone Yorphanxay, took up his duties and outlined his vision to ensure the Joint Development Bank remains profitable and ensures its position among the leading commercial banks in Laos.
The ceremony continued with the former Vice Chairman of the Board of Directors, Mr Sounthorn Chanhthavong, and former Chairman of the Board of Directors, Mr Ekaphanh Phapithack, instructing the new Board of Directors to continue the mission of the Joint Development Bank as accorded by the shareholders’ committee.
Mr Vilay Siphaphone was appointed as the new Chairman of the Board of Directors and Mrs Phonesamay Soukhaphon as the new Vice Chairman of the Board of Directors of the Joint Development Bank. In addition, new Deputy Managing Directors and Heads of other departments were appointed in order to satisfy market demand.
At the close of the ceremony, the Chairman of the Shareholders’ Committee of the Joint Development Bank, Mr Ekaphanh Phapithack, highlighted the importance of the bank’s growth, diversity and florescence in order to achieve the goals set to contribute to prosperity under the Joint Development Bank’s motto - “Blooming Together”.

The new Managing Director and CEO, Mr Sakhone Yorphanxay, speaks at the ceremony.	The new Executive Directors of the Joint Development Bank.	The new Board of Directors of the Joint Development Bank.

By Advertorial Desk
 (Latest Update May 26, 2023)