Banque Pour Le Commerce Exierieur Lao ( BCEL ) was established at the same time when the Lao People's Democratic Republic was declared at the end of the year 1975 and has undertaken its activities since 1976. From 1976 to 1989, the BCEL operated as a specialized branch of the formerly State Bank ( Central Bank ) of the Lao PDR and was assigned the monopoly of and limited solely to international banking activities. It was also assigned the management of assistance grants and loans provided by foreign countries and international organizations to the Government of Lao PDR. Since November 1989, BCEL has been transformed into the full commercial bank under the law of the Bank of Lao PDR and the Decree concerning the management of commercial banks. BCEL's activities continue to grow gradually and strengthen in various fields including size of assets, deposits, loans and number of clients. Internally, there are 18 branches, 20 Service units, 10 foreign exchange service offices. BCEL has over 100 correspondent banks world-wide. Banque Pour Le Commerce Exterieur Lao has became one of the state commercial bank. Its main objective is to benefit its customers and to support the economic policy of the Government by improving, developing, modernizing and expanding its services domestically as well as abroad.