Vietnam Bank for Agriculture and Rural Development
Commercial bank in Vietnam
From Wikipedia, the free encyclopedia
Agribank or formally the Vietnam Bank for Agriculture and Rural Development (Vietnamese: Ngân hàng Nông nghiệp và Phát triển Nông thôn Việt Nam) is the largest commercial bank in Vietnam by total under the Ministry of Agriculture and Rural Development. It is a state-owned corporation under a special status. According to a report by the United Nations Development Programme, Agribank is also the largest corporation in Vietnam.[2]
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| Agribank | |
Native name | Ngân hàng Nông nghiệp và Phát triển Nông thôn Việt Nam |
| Type | State-owned |
| Industry | Banking, Finance, Security |
| Founded | 26 March 1988 |
| Headquarters | No. 2 Lang Ha Street, Ba Đình district, Hanoi, Vietnam |
Key people | Pham Duc An, Chairman Pham Toan Vuong, CEO |
| Products | Transaction accounts Insurance stock brokerage Investment bank Asset-based lending Consumer finance Trade International payments Foreign exchange |
 $154 million USD | |
| Total assets | $36,34 billion USD[1] |
| Owner | Ministry of Agriculture and Rural Development |
Number of employees | 40,000 full time equivalent |
| Website | www |
History
Agribank was established on March 26, 1988.[3][4][5] It is the first state-owned commercial bank of Vietnam, established with the objective of focusing credit resources to serve the development of agriculture, farmers, and rural areas.[6]
By 2000, Agribank had 2,300 branches and transaction offices nationwide, accounting for 40% of the agricultural credit market share.[7][8] In 2011, Agribank converted to a one-member limited liability company owned 100% by the State.[9][10][11]
In 2018, total assets reached nearly 1.3 trillion VND, mobilized capital reached over 1.2 trillion VND, and total outstanding loans and investments reached over 1.1 trillion VND.[12][13] By December 31, 2020, total assets reached over 1.57 trillion VND; capital reached over 1.45 trillion VND; and total outstanding loans to the economy reached over 1.21 trillion VND.[14][15][16] By December 31, 2021, Agribank's total assets reached 1.68 trillion VND; capital reached over 1.58 trillion VND; and total outstanding loans to the economy reached over 1.31 trillion VND.[17][18][19] 63 trillion VND; and total outstanding loans to the economy reached over 1.44 trillion VND.[20][21][22]
In 2022: Agribank was awarded the "Excellent Payment Quality" award by JP Morgan Bank, USA.[23][24]
