2010

31/12/2010

1

...............................................................................................................4........................................................................................................................................5 1: (BCEL) .....................................................................7

I. ( BCEL ) .......................................................71. ------ BCEL................................................................................................72. ..................................................................................................8II. .........................................................................................................................................121. ....................................................................................................13a. ............................................................................................................................13b. ............................................................................................................142. ........................................................................................................15a. ................................................................................................................15b. ......................................................................................16

3. . ...................................................................................................................16a. ...............................................................................................17b. ..........................................................................................................................17c. ...................................................................................................174. ..................................................................................................................................175. .......................................................................................................................................18III....................................................................................................................................191. ..........................................................................192. ......................................................................................................................................213. ............................................................................................................................21

2

4. . ...................................................................................................................243. : ...................................................................264. -- - -.....................................................................................285. -----...........................................................................................286. - ...................................................................................29IV.. ................................................................................................................................31V. .........................................................................................................351. .........................................................................................................362. ....................................................................................................................................373. ............................................................................374. ...................................................................37VI. .....................................................................................................................37VII. ............................................................................................................................................38VIII.. .............................................................................................................................40

IX. . ....................................................................................................................43 X. . ..................................................................................................................50 1. , .............................................................................50

XI. ..................................................................................................521. . .................................................................................................................................522. ............................................................................................................................55XII. .............................................................................................................58I. ...............................................................................................................58II..............................................................................................................58III. ...................................................................................................58IV., ..................................................................................................59V. ...........................................................................................................................................62

3

VI. ..................................................................................621. ...........................................................................................................................................622. ..................................................................................................62

2: .............................................................................................63I. ...........................................................63

.....................................................................................................................................65i. , ............................65ii. .................................................................................65iii. ; () .............................................................65iv. ...........................................................................................65v. . ...........................................................................................................................65

4

BCEL BANQUE POUR LE COMMERCE EXTERIEUR LAO -

BCEL BOL Bank of the Lao PDR MOF Ministry of Finance SECO Securities and Exchange Commission Office

SWIFT Society for Worldwide Interbank Financial Telecommunication

ALCO Assets and Liabilities Committee

L/C L/G Letter of credit Letter of guarantee Forward / Options EDC Electronic Data Capture ATM Automated Teller Machine ATM E&Y Ernst & Young Ernst & Young KPMG KPMG SME Small and medtum enterprises VISA Visa International Service Association VISA Internet banking SMS banking IT ROE (Return on Equity) - ROA (Return on Assets) -

5

(BANQUE POUR LE COMMERCE EXTERIEUR LAO)

20/12/2010, (BCEL) 30 % : 15 %, 5% 10% .

(BCEL).

(BCEL) BCEL : , , . , BCEL , : : , , , .

BCEL 2009 2010, BCEL 2011 , BCEL . , , , , BCEL .

BCEL BCEL :

40,973,280 ( 30% BCEL )

6

: 204,866,400,000 5

BCEL

(

5,000 /)

()

~15% 20,490,160 102,450.80

BCEL ~5% 6,825,360 34,126.80 = 5,000 /

10% 13,657,760 68,288.80 30% 40,973,280 204,866.40

. :

.

. . .

7

1: (BCEL)

I. ( BCEL ) : ( ) : BANQUE POUR LE COMMERCE EXTERIEUR LAO ( BCEL ) : 1, , . 2925, , : 9630/BLO, 11 12 2009 : : 682,888 : : (+856-21) 213200, 223243-4 : (+856-21) 213202, 223012 Website: www.bcel.com.la

/

. :

:

: 8338/, 9/9/2009

: , ,

1. ------ BCEL

---, ---, - - -- (LAK) ---- --; ---- -, - -- --- -, ------- , ; --, ----- - ---- ----- - -- --.

----- - , --, - - -, - --- ---.

-- - : --- -- ------ ----

8

, ----- - ---- - -

--- -- .

- -- -- -.

- - - - --- - -- ---- -- .

- -- -- -------- -- -.

-- --, ---, ----- - -- - -.

--- - - ---- -- -- -.

BCEL ------ ---- --- - - -- - - --: --, ---- --, - -- --- -; -- - - --, -------; ----.

--- - - - -.

2.

-- - - - - - --- 2/12/1975 , ----- (BCEL) -- - - -- - , ----- -- --- ----- ---- - - ------. -, ----- - -, - --, --- - --; -, -- --- --.

- - --- 01/11/1989 , ---- ----------- - -- -, -- - - --, -- - - -----, - - -, -- - ---- ---

9

: --, ---, -, ---, ------- - - - - - ---.

-- 11/1989 - 11/2009, ----- ------, - --- - -- -- -, ----, - -- - --- -- , ---, --, --- - - ------. -, -- - - ---- ----------, -------- - - ---- . -- --------- -- -- .

BCEL -----, -- ---- ---- : ---- SWIFT, Money Gram, --- ---, -- Real time online Banking, -, -- ; -------, ---, --, -, -----, ATM --- 24 -, - -- - ----. - - -- - - -, --- 400,000 500,000 .

--, BCEL -- --- ----- - ---, ----------: --- -- - --------, ----- -, - - ---, -- ------ -.

10

, :

- -

3

IT

18 22 11

1

2

SVN

KMN

11

18 22 11

5% 12/2010

/ %

1. -

: 44 , , , .

7,500,000 USD 50 %

2. -

: , , ,

870,000 USD 29%

12

.

3. -

: , ,

, .

122,414,007,600

46%

4

: , , , .

9,000,000,000 100%

5 1

: 1, 5, , ,

200,000,000 20%

6 - -

21,000.000.000.00 70%

II. 8

Bacel I .

: , , , . :

13

1. 26

27 : . , , .

a.

, BCEL .

, BCEL , BCEL , , , . , , , .

BCEL , .

06/BOL 11/05/2004 :

14

(A) 0%

(B) 0% (C1) 0%

(C2) 91 180 20% (D) 181 360 50% (E) 360 100%

31/12/2010

31/12/2009

-

2,669,456 1,902,100 68,185 14,154

2,737,641 1,916,254

b.

L/C, BCEL . , .

L/C BCEL. , BCEL. ,

15

BCEL L/C .

2. 30

9

, ,

.

,

.

: ,

, , .

.

: ,

.

a.

, . .

BCEL ALCO , , ALCO. .

16

:

2010 2009 1,429,796 885,338 1,092,748 1,052,267 , 2,705,476 1,903,181 5,228,020 3,840,786

5,013,420 3,705,738 5,013,420 3,705,738

% 104% 104%

b.

BCEL . . - . , .

3. 33 .

10

.

.

17

,

, .

a. BCEL .

BCEL . .

b.

. .

, , .

.

c.

: .

, BCEL , .

4. 37

(Capital Adequacy Ratio CAR) . I (Capital Tier 1) II (Capital Tier 2) (Risk).

CAR = [( I + II) / ()] * 100%

18

. : , . , .

, , CAR 8%, BCEL CAR 8 -10% .

CAR 8%-10%, II, (Capitalization Bonds) MOF, 2005 2010, BCEL MOF : 2006: 129,000 , 2007: 98,000 ; 2009: 98,000 11 2010 283,500 . 5 7.8% .

BCEL MOF BCEL , .

5.

BCEL : , , , , , .... , BCEL. , , . , , , (, .... ) BCEL , .

19

III. .

1. 39

a.

02 1975 , , , , .

01 1989 , : ; ; ; ; ; : SWIFT, Fax, Online, Telex, ; ; , , ; , ATM 24 , .

. - - --- -- , , 1998 , (---, ---- ---- ). , , ,

20

. 3.

2001 2 , . 2 , , , . , .

, , , . , 2003 3 , , , , . , .

b.

-, --- , 18 ,

23 , 11 1 - ----, 997 . -- --- ---- -, -

- ---- -- . , - ----- --- -- E Banking, - .

--, ----- - ---- -- ---- --- 22/06/1999, ----- -

21

--- 2008 - 2009 - --- BREDBank - - ---- -- -- 2010 -, - --------. -, --- - , --- - -- ----- KTZMICO - --- -- - ---- --- -- 11/11/2011 ---.

2. 40

a. 2010 2009

I. 270,587.00 184,417.00

II. 285,271.00 246,641.00

555,858.00 431,058.00

b. 2010 2009

I. 206,542.00 163,679.00 1. 198,070.00 160,037.00 2. 8,472.00 3,642.00 II. 145,828.00 95,454.00 1. 143,347.00 95,449.00 2. 2,481.00 5.00 60,714.00 68,225.00

3.

-- --- - -------- ----- BCEL --- - -- -- - -- BCEL -- -- - ---- ---- ------- --- ---

22

----, ------ - -- -- -- -- ----- - BCEL, ---- -- (Real Time Online) - - --, ---- - - --. , VIP. ------- ATM VISA - ---- --, - - , ------ -- - ---- - -- - --- -- ---. ---, --------- -- 6,052 2009 40.7-9% 2010 ---- 8,521 .

- 31/12/2010 31/12/2009

--- 682,759 388,480 580,495 359,766 255,897 257,268 396 871 324,141 101,410 61 217 13,291 - 13,291 - 78,566 21,547 78,566 21,547 - -- 10,407 7,167

-- 7,838,612 5,664,080 2,629,244 1,798,319 1,558,682 655,355 1,070,562 1,142,964 1,294 1,446 992 922 302 524 3,069,164 2,328,641 725,647 515,181 2,343,517 1,813,460

23

1,944,256 1,377,097 974,992 591,563 969,264 785,534 54,027 144,275 8,474 9,263 45,553 104,556 - 30,456 140,627 14,302

8,521,371 6,052,560

24

4. .

, ; . 2009 1,916 2,737 2010.

2009 - 2010 42.86%/.

, (30.3% - 2010) (23.96% - 2010), BCEL .

2010

25

, 31/12/2009 31/12/2010

1,916,254 2,737,641 14,085 19,859 : (13,073) (32,165) 1,917,266 2,725,335 42.15%

31/12/2009 % 31/12/2010 %

292,206 15.25% 327,197 11.95% 408,438 21.31% 649,813 23.74% - 0.00% 79,052 2.89% 48,824 2.55% 47,967 1.75% 640,465 33.42% 829,556 30.30% - 0.00% 122,597 4.48% 526,321 27.47% 656,026 23.96% - 0.00% 25,433 0.93%

1,916,254 100% 2,737,641 100%

26

, BCEL :

BCEL 2009 2010 ;

BCEL , BCEL ;

.

3. :

06/BOL 11/05/2004 :

91 180 20%

181 360 50%

360 100%

, 0.1% .

06/BOL, BCEL 2010 68,1, 2.49% , 2010 (0.02%) 2009. , , BCEL 2009 2010 . E&Y BCEL .

27

(PL) 2,669,456 - (26,694) (26,694)

(NPL) 68,185 (32,165) - (32,165)

2,737,641 (32,165) (26,694) (58,859)

28

4. -- - -

---- 2009 2010, ---- L/C -- L/G --- ---- ----- ------.

- : 2010 508 , L/C : 183,8 ; 41,5 .

: 2010 155 , L/C : 62,2 .

: 2010 493 , : 6,8 .

-- 2010:

- --

USD EUR

THB

JPY

- 1,402.7 26.9 158.1 114.4 -- 1,141.7 11.9 5,225.2 323.2

, , . , 2010 BCEL .

5. --- --.

2009 2010, 2010 , EDC (Electronic data capture), VISA . ATM 2010 -- VISA-, - ATM - 64,807

29

24.3% EDC --- 523 ,- ATM 140 -. --

2010 ---- -- - ATM ----- Two in One : --- ATM .

, ATM, EDC, -- 2009-2010 :

ATM

2009 2010 2010/2009

/ 1,747,530 3,284,385 88% 608,629,629,160 2,097,691,047,600 245% () 2,478,367,762 435,421,360,435 17,469%

ATM

2009 2010 2010/2009

/ 448,777 490,869 9% 31,249,024.80 35,472,357.61 14% () 1,068,609.75 1,190,915.03 11%

EDC

2009 2010 2010/2009

/ 63,879 70,370 10% 15,819,527.55 15,714,944.04 (1)% () 171,562.37 168,457.73 (2)%

6. -

- 2009 , 2009 2010, BCEL - ,: USD, THB,

30

EUR, JPY, VND, CAD , 2010 - BCEL 54.02 33.53% 2009. BCEL , , , . , BCEL .

2009 2010

/

(%) 2010

2009

(%) 2010

2009

1 USD 1,574.20 1,585.60 1,323.62 1,354.56 (15.92)% (14.57)%

2 THB 16,521.68 16,218.46 17,659.39 17,802.54 6.89% 9.77%

3 GBP 231.87 228.57 34.9 34.17 (84.95)% (85.05)%

4 CHF 14.4 14.03 2.37 2.82 (83.54)% (79.90)%

5 JPY 7,573.04 7,422.21 2,868.99 2,859.26 (62.12)% (61.48)%

6 AUD 18.21 19.2 26.28 25.94 44.32% 35.10%

7 CNY 6.58 6.38 4.65 4.34 (29.33)% (31.97)%

8 VND 1,114.32 1,067.48 1,059.33 1,149.63 (4.93)% 7.70%

9 CAD 3.91 4.29 2.78 2.79 (28.90)% (34.97)%

10 EUR 214.51 213 113.03 113.3 (47.31)% (46.81)%

31

IV. . 1. -

-------- -, ------ -- -------- -- --- -- 2011.

2. -- : 2011 ---------- 5

VII -- --------- -- --- 32 :

1. .

2. 1 01/2011 , 2011, 20112015 .

3. 11/01/2011. 4.

. 5. , ;

. 6. -- (Full Member) --- - : --

Visa - I/2011 -- Master Card II/2011.

7. (, ATM, EDC) ---- - -- --.

8. , : ATM, VISA, POS ( Point of sell ), E--banking, Internet Banking, ---- .

9. --- : Bill Payment , E Commerce -- 10. - -- China Union Pay (CUP).

32

11. ( Self Service ). 12. -- -- -- ----,

.

13. - IT, - - --- ------, Core Banking --- -------- - - - - .

14. ---- ----- - ----- -- --------- -.

15. - -. 16. -- 17. ------- -- 18. ---- Private Banking Corporate Banking 19. ------ ---- - ---

-- --- ----- -. 20. ATM

. 21.

. 22. -- --. 23. --------- : --,

-, ---, -- - -- . -, --------.

24. , , , - ----- - --- -- - -.

25. --- - --- --- --- .

26. - ---- 2, - .

33

27. .

28. . 29. ISO . 30. / 2011 --. 31.

--- 18% -. 32. ------ 212,26 -27%2010.

34

2011

31/12/2011 707,795 I. 605,495 1. 382,495 - 58,000 - 324,495 2. - 13,000 3. 150,000 4. 60,000 5. - II. 102,300 1. 88,500 2. 13,800 3. ( ) - 495,535 I. 206,830 1. 180,330 - / 1,500 - 178,830 2. - - 3. 6,500 4. 20,000 5. / - II. 288,705 1. 97,448 2. / 112,157 3. 48,300 4. NPL 19,800 5. 11,000 6. - III. 212,260

35

V.

BCEL , 31/12/2010 9,578,672 . BCEL , , : BCEL .

:

- 31 2010

31 2009

I - - 3,119,051 1,555,285

1-. - --- - 717,636 440,770

2. 2,283,225 1,031,251

3. 118,190 83,264

II - 1,832,916 1,870,999

1. 867,262 900,867

2. 738,683 921,778

3. 226,971 48,354

III - -

IV - - 1,429,796 885,338

1. - - -

2. --- 100,000 -

3. () 1,329,796 885,338

V -- - ---- 2,705,476 1,903,181

VI - -/ , - 239,099 95,813

VIII --- 180,075 141,812

36

1. 48

2009 2010 8,518 13,176 61,469 71,109 35,094 41,020 21,056 30,835

1. 23,935 15,675

2. - ---- - 23,977 16,993

3. - --- - - 132,163 109,144

X -- 72,259 118,385

1. ----- 38,862 26,849

2. - - 33,397 91,536

- - 9,578,672 6,570,813

37

2. 49

:

-

-

- , , , .

-

2009 2010 - 1,916,254 2,737,641 - -

3. 50

, , , , .

4. 51

.

.

VI. .

38

VII.

, BCEL 100% :

() 329.210 102.245 7.182 -39.240 BCEL1 399.388

( 11/2010)2 283.500

682.888

, :

14 2010, 181/. , . 80% . 23 2010 27,315,520 20% , 20,490,160 6,825,360 10 2011 0061/LRO - 10 2011. , ( ).

39

54

: . . . .

: .

40

VIII. .

41

, BCEL 18 , 22 , 11 1 .

/ / 1 29/12/2005 2 02/03/1995 3 13/05/1993 4 26/11/1997 5 28/08/2000 6 0306/2000 7 20/01/2000 8 24/03/2008 9 23/05/2008

10 13/06/2008 11 19/06/2008 12 24/4/2009 13 30/04/2009 14 30/11/2009 15 26/08/2010 16 16/09/2010 17 17/09/2010 18 21/10/2010

42

43

IX. .

, : , . , , ; .

/ 1 . 2 3 4 5 6 7 .

- - - - - - ---- - ---- .

- ---- - - - ---- - -- , - ----- --- -, - ----- -.

- -- - -- - - - -- - - --.

- - - --- - - --- --.

44

- - - -- -----, ---- - ----- ---- -- - - -.

- - BCEL --------- - -----. - --- ----- - - -- .

- - -- -----.

- - - ---- - -------.

- - - - ----- - - ---.

- -- - --- ---- - - - --- ----- ------.

- - --- ----- : ----------.

- - --- .

- ----------- - ---- -.

- ------, --- - --- .

- - ---, -- , - - ----.

- --- - --- -- --- -- -- - - -- --- -- ---.

- -- ----- - -.

45

1. : a. 5,000,000 /. b. 4 ,000,000 //. c. 2,500,000 /. d. 2,000,000 //.

2. 3 5 .

- ------ -- - - - -

-- -- -----. - -- --------, - 2 ---- . - - -- - -- - - .

- - - - - --- - --, -- -----.

- ------ -- --- - ---- --- - ---.

- - -- ----- --- -- - --- ----.

- --- --- - - --- - -.

- --- --- - - - - ---.

- --, - .

- .

- .

46

- , , .

- , .

- , .

- , .

- , -.

4 :

: , .

, :

1. , .

, ( ). , . , (BFSD).

2.

, , , , . , .

47

3. .

, , , : . , , , . , .

4.

/ . , . , -.

5. .

, , , .

6. , ,

48

.

7. .

, , .

: , .

(ALCO): :

o , .

o , (, , ) .

o () , () .

o : , , , .

o : , , (GRIC), , (IFIs) (GA).

49

o , , .

o : () , , , () .

BCEL 12/2010

/

1 1.00 43.00 215.00 79.00 10.00 4.00 2.00 20.00 374.00

2 - 5.00 63.00 25.00 -

1.00

1.00

3.00 98.00

3 - - 29.00 17.00

2.00

1.00 -

3.00 52.00

4 - - 20.00 34.00 -

1.00 -

5.00 60.00

5 - 2.00 16.00 16.00

5.00 - -

3.00 42.00

6 - 1.00 19.00 25.00

3.00 - -

5.00 53.00

7 - 1.00 10.00 12.00

1.00

1.00 -

2.00 27.00

8 - - 10.00 12.00

1.00 - -

3.00 26.00

9 - 1.00 10.00 8.00 - - -

2.00 21.00

10 - 1.00 8.00 7.00 - - -

2.00 18.00

11 - 1.00 13.00 13.00 - - -

2.00 29.00

12 - - 23.00 10.00 - - -

2.00 35.00

50

13 - 2.00 12.00 13.00 - - -

2.00 29.00

14 - - 5.00 11.00 - - -

2.00 18.00

15 - 2.00 18.00 6.00

2.00 - -

3.00 31.00

16 - - 9.00 2.00

1.00 - -

2.00 14.00

17 - - 7.00 11.00 - - -

2.00 20.00

18 - - 7.00 10.00 - - -

2.00 19.00

19 - 1.00 10.00 3.00 - - -

2.00 16.00

20 - 1.00 10.00 3.00

1.00 - - - 15.00

1.00 61.00 514.00

317.00

26.00

8.00

3.00

67.00 997.0

X. .

1. , a. - (LVB) ,

. , . 31 2000 30 . 15,000,000 31 2009. 31 2010, 22,500,000 , . 6,072 2010 (2009: 3,606 ).

b. (LVI) , . 077/08/FIMC 09 2008 BIDV -. 3,000,000 17 2008.

51

c. -- . Cofibred Company Frances De La Bred . 1 2009 16 2010 . 20 37 24 2009 . 01/ 28 2010 . 1,840,000 122,414,077,600 31 2010.

d. BCEL 011/09 17 2009. 9 .

e. 180-10 , , 14 2010. , , , , , 21 70% .

f. 1: 1, 5, , , , 200,000,000 , 20% .

52

XI.

1. 57 .

- 31 2010

31 2009

I - - 3,119,051 1,555,285

1-. - --- - 717,636 440,770

2. 2,283,225 1,031,251

3. 118,190 83,264

II - 1,832,916 1,870,999

1. 867,262 900,867

2. 738,683 921,778

3. 226,971 48,354

III - -

IV - - 1,429,796 885,338

1. - - -

2. --- 100,000 -

3. () 1,329,796 885,338

V -- - ---- 2,705,476 1,903,181

VI - -/ , - 239,099 95,813

VIII --- 180,075 141,812

1. 23,935 15,675

2. - ---- - 23,977 16,993

3. - --- - - 132,163 109,144

53

X -- 72,259 118,385

1. ----- 38,862 26,849

2. - - 33,397 91,536

- - 9,578,672 6,570,813

31 2010

31 2009

--

I ---- --- - - 682,759 388,480

1. ---- 580,495 359,766

2. - 13,291 -

3. 78,566 21,547

4. 10,407 7,167

II ---- 7,838,612 5,664,080

1. ---- 5,753,728 4,272,683

2. - 1,944,255 1,377,097

3. 140,629 14,300

III - -

IV - -

V 272,514 100,237

1. 36,178 35,348

2. - 50,566 46,096

2. 185,770 18,793

8,793,885 6,152,797

VI 784,787 418,016

1. 610,433 326,933

54

1.1. 70 BCEL

45.78% 2010 , .

- 31/12/2010, 2,705,476 , 2009 ( 06 BOL 2.49% 0.74% 2010 2009)

- 31/12/2010, BCEL 1,668,895 /, , BOL MOF

- BCEL ( BCEL 20 43% )

1.2. 71 BCEL ()

BCEL 92% , .

2. ---- 4,204 34,949

3. -- 114,858 71,008

4.

5. ---- 28,464 39,009

6. --- 25,226 (56,150)

7. - 1,102 2,267

- 9,578,672 6,570,813

55

- 2010, . BCEL .

- . BCEL .

- , , . 2010 .

2. 58

A. 2010 2009

A. - --- -- -

1. -- 270,587 184,417

1.1 --- - 18,785 11,018

1.2 ---- - 198,070 160,037

1.3 ---- 53,732 13,362

2. ---- (146,909) (95,454)

2.1 ---- (3,562) (5)

2.2 ---- (143,347) (95,449)

2.3 ---- - -

I. --- - 123,678 88,963

3 -()- --- - -- 12,356 3,595

56

8 --()- -- 16,510 3,517

9 -- - - 105,040 85,998

10 - - --- (6,264) (5,273)

11 - () - -- 1,289 23,529

12 - (-) - ----- - 41,667 36,862

II. --- -- - - 294,276 237,191

B -- -- - -

15 --- -- - - 58,067 42,906

16 --- - - - (129,867) (94,597)

16.1 - ----- (68,675) (53,951)

16.2 --- - - - (53,909) (36,715)

16.3 --- - -- - - (7,283) (3,931)

17 -- (23,692) (16,101)

18 --- - -- - - (16,270) (26,879)

19

-----/ (-) ------- (19,061) (7,173)

19.1 --------- -- (47,422) (12,859)

19.2 28,361 5,686

III. -- - 163,453 135,347

23 (54,243) (46,096)

IV. - 109,210 89,251

57

- ---- - BCEL - 2010 555.8 , -- ---

28.95%. - ----- (operating income) BCEL, -- -- - -- --- (48.68%) -- ---- -- -- BCEL -- 2009 2010 - - -. ----, - ----, BCEL - --- - - - - --.

- -- - - BCEL 2009 2010, - --- -- ----, - -- - --, -- 51.32% -------.

-

----- BCEL - 2010 - 392.4 . - BCEL, --- ----, - - - -- -- BCEL.

--, ---- --- - - 17.50% -- 2010, -- ---- - -- ---.

2009 2010

6,031,093 8,521,371 1. 6,009,546 8,442,805 2. 21,547 78,566

2,801,592 4,167,437 1. 1,916,254 2,737,641 2. 885,338 1,429,796 / 46% 49%

58

XII.

I.

: .

: 682,888,000,000

: 30%

: 5,000 /

: , :

BCEL

40,973,280

: 204,866,400,000

II.

III.

15%

59

BCEL 5%

10%

IV. ,

/

%

1 15% 20,490,160

15%

- - : 5,000 / - : 500 - : 100 - : 2,049,000 ( 10%

) - - ---, ---, ----

- -- - ( - -- - --- 100 %)

- ----: ---- -- -- . - - - - -- - - - -

- -- -- - --- -------

---, ---- ------- -

60

/

%

--- -, - --- -----.

-- --- - - --- ---, ---- ----

-. - , ---------,--- -

--- - - ---, - --- ------:

- -----

- -

= --

X - -- ----

- ---- -- -, --- ------ - --.

- , .

- (01)

. -

, .

61

/

%

, , , , , ,

2 BCEL 5%

6,825,360

5%

- BCEL 30/9/2010; - BCEL

BCEL : (i) BCEL: BCEL 300 ,

4,861,200 ; (ii) : 930 ,

1,964,160

: BCEL = = 5,000/

4 10%

13,657,760

10%

- 10%

, MOF, BCEL

- MOF, BCEL

BCEL MOF

62

/

%

-

V.

VI.

1.

BCEL .

:

- - (03) : , - (BCEL), - -, ---,

Website: http://www.bcel.com.la

2.

100% .

63

2: I.

, . :

. .

.

usrJlo1!n1lai.lqilltjsenoalo uru.l4b

aq,sHu sao d"fiunqnqufrl8uqm$$quntcie.l--------

1. Uyurluarruri5u.lu un$a uuu.r{u ...........:CIs lr.cJlna3 Sffuosu

2. {d"ruoGrnqu un$a uuul{u

3. fr'ouil.rurucunriuf;

.A4. UOUIJ.|UJU gilnncon.t

3a\

1*

4fn*ruufraa3 tqe.r"efio

s,qru,frffryou

64

65

i. ,

ii.

iii. ; ( E&Y)

iv.

v. .

oCcaG))oclGatraGe!q-OAJfifctIcz;tcca.Jr3?-itrDoaoa))G-5

cra.f,c5l)aa)troGOJ(?a

a{iti ,r'

ttI tJ

I I-\

,

l)0? G

; lcca ctr

i i'! i:

i ld

e.

rl-uI

Ia 3

I lo

lcl'FI =

ldori E- F--'-'-

)cUB.accEi

ciz'

crtt)tr

IIIt:la-latqlntolcrl!lcII

lar6caneeF'ccaeetrI

'--,-..-...--l

ITl6l:lPiFItri(,Gl'JlllrILI*-r-IlrzIGt-ITIDl9If)| 'DrIOll4

aoo-st

i,gilr)ioIGI )r4iaItrl(iiiI (t?!))liiIIIIjiiIII

la155cEt -

hr4d6i

S\ 5

rfi'-9 I.aG

4tl

!i (tr,5 e

,5.g F.Er3

It r

cC a-

EF,bEdoL0fetrt3

cDoA

c3 (a5D

(6PrF )ra_Qoi5

t4)

Qt65e-Cooao,ri'

x-!3

'd.N

Dd?ONo

c.lC)anA(Joz'oc)

ltGi):trCGaCtr

IleIt'IEt4CG.:letr

e6i)saFCQ.:lttr

o.i

8 ',d.

N-l

/rto(6ooNON

ag!u^f.t

n

!! !:1

)EPUJrE s l-ahaF6E F5

g!ku"F'3

3-il*(s^l:<

(.'N

-loo

oo

NON

eF6t))etrcG..-liftr

a66eFtraoioIB?om

0, aa

!!:c-)of,'CG

AcQ0tr:lo

oNO

l=ltsl6ElaIFtdlplol-GItL__l-IBIHlorl;-I!-?I r6alcItrl-l)cl:)IG

cFacaG))a3one6))c-oqJtzta))CZarecc3.f,l3rrtrDaFot)PGr

CC?.Jrts))!?;)oGoJ):GDcz

III

(f rr

{f, -j

B,F TG

r(aqa?uFESF F'5 :5'

=4tsoo:

G(C !.

I

sG)!:acca.;)e

c):)Ir3EF!:J)nIF)Gg

IPlRt:l.q

o5G5.T{5

r::1t_il :

:i.:, .!

ti o-

,,.r

,J,

d eBE

s an j

GoGsItraoaUlE'on

I)f,P"i-dooc{

lrdtalsltIGloItrd,3-r:noINooN

e

FA.FcG

*-tF!:qRtala

oc

cas

.Fr5 3F?6'6'nfr

yl m

co

JatFDoeor3't)iF-IooN

mJCaoor!l'on

ooNdooN

lal(ntfldl-t&o(5@ooN!5ooN

Gatr-!g(?giGC

(lE2 Cra

,E '?

d6;aiittCR CGI!iD

a.

-bt'Da!??C))ca

E-5aPqsS FCCE:s 8-6tso"3 E'HolE

flig

6JIbcQd'd-BEEeiL{EF'Fn.r

ErtsoCCngo

: -!.

q E'b'E' :5 E-gFdi-ge

IFE6.e$is

ao!aeCEdlaiI'5

cDGctrG5o

,:F-af;{rHF.df,

i! ,09

-

(g'l trrdsErf,C@

d

)5.J c

9_oJF6dGCCIG

c-lOJ:rlp-'4iJ7I

GqO

'ElaEE.6H

F

r'E a-S

e5 ,q *iEE'i.EJG

!r

eCO

f,

6'd9

,E^E I'f; "l

oG968bEGi [,'A:o

r)et r)Ei

ooo

F'rd

-FE 3EE

lC=i

.F 85

IaIgFEF

d!:Ba6.8q.J

:Qq3

E .F.R

'g ,F, 5

3gB'5r

@

a)tr!)f,If,tr.tttr

:)JttrCGatr;)tr

^!6xE#dcGe.iqahfo5ncG

A .:l

.fFU.9.

Ftrs.E?id

( P

5f?J!

ccc-.pB 'E jg

6.;id-$ ;;

.9fr5ri

.F 'H$

*,:

FofiFi.'6

= t e

'E 3.Eli3F(Hd+i$rq5?f;

?-o.l

-thrb^gs.clr

.FUGtsP,EB5S

rycdLfPS'$ i,t:]

FDrO

R

5.-q a

aE

EHq:c-E

-'E Efi

EEFEBB: F'e#i

i! c&.Q '-

F.F i g,E

()u)

Go'FoCGaqfeIFo

15 .d

ol(E

'E6'

tst

?s

,z 9-

f: o'

6-5EiA3.EEh.Jg

B 5:"3fi,FO

Alhr

c q

F$m

dcc-BJ

IE F"

oto.:lHii'dg

dc cb

UETic)f,

Q )))

gE d F

f , F E,F

E$ $f 5'fl

G)G.Fco,a

)ra5atFcGtqc0fa)a

;roGctrTQ

Go"

5GGTF6e)}:to(5on

))6?trF,iD

e^

E .FP

E ;F'$i

EXE

b-!E

ccbF i.F.$A X-3 S,6.a

PCFCqa-Q

cH

'

e

aE!

gcc -

": ;'3 r

'E 5"

!H

33s5

-