Question 1

What is ST Bank?

Accepted Answer

ST Bank is a private commercial bank in Laos with 100% domestic shareholding. Owned by the ST Group, a diversified Lao conglomerate, the bank operates as part of a broader business empire that includes import-export, duty-free operations, power generation, mining, tobacco, wood, beverage production, construction, hotels and resorts, and gaming and entertainment. ST Bank focuses on providing comprehensive banking and financial services throughout Laos, with a particular emphasis on supporting the multiethnic population and contributing to the country's National Socio-Economic Development Plan (NSEDP).

Question 2

When was ST Bank founded?

Accepted Answer

ST Bank was officially founded on July 3, 2009, receiving Banking Business License No. 04/BOL from the Bank of the Lao P.D.R. on the same date. The bank was established by the ST Group under the leadership of Mr. Sithat Xaysoulivong, who serves as the bank's President and Chairman.

The bank was created to support the Lao government's socio-economic development policies and to expand financial services access across the country. Since its establishment, ST Bank has grown steadily with support from its staff, military, police, and domestic and foreign traders and businesspeople.

Question 3

Where is ST Bank headquartered?

Accepted Answer

ST Bank's head office is located at 080/02 Samsenthai Road, Anou Village, Chanthabouly District, Vientiane Capital, Lao PDR. The headquarters sits in the heart of Vientiane, the nation's capital, positioned near other major financial institutions including the central bank and various commercial banks.

Question 4

Where does ST Bank operate?

Accepted Answer

ST Bank operates throughout Laos with a network that includes its head office in Vientiane Capital and branches in key provincial centers. As of 2015, the bank had established branches in Pakse (Champasak Province), Savannakhet, and Luang Prabang, along with 29 service units spread across the country.

The bank has expressed plans to expand its network to achieve full coverage across all provinces in Laos, aiming to provide financial services effectively to society at large, including target districts and development focus points for government initiatives.

Question 5

What services does ST Bank offer?

Accepted Answer

ST Bank provides comprehensive commercial banking services including:

Deposit Services: Short-term, medium-term, and long-term deposits from organizations and individuals.

Lending Services: Short-term, medium-term, and long-term loans to organizations and individuals, with a focus on supporting various sectors of the economy including agriculture, industry, and business development.

Digital Banking: The bank offers two primary digital platforms:
• ST Hub: A mobile banking app available on iOS and Android that enables fund transfers, bill payments, QR code scanning for payments, account balance inquiries, inter-bank transfers through the LAPSNET system, and a rewards program. Users can manage debit cards, pay utilities, road tax, land tax, insurance, and leasing payments through the app.
• STB Easy Banking: An online banking platform accessible 24/7 for account management, transfers, balance checking, and transaction history viewing.

Payment Services: Domestic inter-bank transfers via LAPSNET (up to 300 million LAK per transaction), international money transfers, bill payment services, and salary transfer scheduling.

Card Services: ATM cards, debit cards, virtual cards, and other electronic payment cards.

Foreign Exchange: Currency exchange services and international transfer capabilities, particularly to Thailand.

Question 6

What makes ST Bank unique?

Accepted Answer

ST Bank distinguishes itself through its 100% Lao private ownership and its connection to the diversified ST Group conglomerate, which has been operating in Laos since 1994. This backing provides the bank with substantial resources and business networks across multiple sectors of the Lao economy.

The bank has positioned itself as a supporter of government policies aimed at national development, particularly in providing loans to underserved communities and development focus areas. ST Bank emphasizes its commitment to serving the multiethic Lao population and contributing to the country's industrialization goals.

The bank's digital offerings, including the ST Hub mobile app with QR payment capabilities and rewards programs, demonstrate its focus on modern banking technology adapted for the Lao market. The integration with LAPSNET for inter-bank transfers enables customers to access a broader financial ecosystem.

Question 7

What type of financial institution is ST Bank?

Accepted Answer

ST Bank is classified as a private commercial bank in Laos. It operates under the regulatory framework of the Bank of the Lao P.D.R. (the central bank) and holds a valid banking business license to conduct comprehensive commercial banking activities.

As a private commercial bank, ST Bank is distinguished from government-owned banks, joint-state banks, and subsidiary banks of foreign institutions. It is wholly owned by Lao investors through the ST Group and operates independently to provide retail and commercial banking services to individuals, businesses, and organizations throughout the country. The bank is subject to regulations including the Law on Commercial Bank No. 56/NA (dated December 7, 2018) and the Law on Payment System No. 32/NA (dated November 7, 2017).

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About ST Bank in Laos