Agribank: Brief information

Established in March 26th, 1988, having operated under the Law on Vietnam’s Credit Organizations, Vietnam Bank for Agriculture and Rural Development (AGRIBANK) has been a leading commercial bank to play a decisive and important role in capital investment in developing the agricultural and rural economy as well as other fields of Vietnam’s economy.

AGRIBANK is the largest bank in Vietnam in terms of capital, assets, staff, operating network and number of clients. To the end of 2004, it has enjoyed the equity capital of VND 6,200 billion, total assets of over VND 182 thousand billion, 1,800 branches nation-wide with 28,000 staff.

AGRIBANK always pays much attention to the renovation and application of banking technology in a bid to serve the business management and develop the advanced banking service network. It is also the first bank to complete phase I of the project on modernizing the Intra-bank Payment and Customer Accounting System (IPCAS) sponsored by the World Bank, and is actively conducting phase II. At present, it has connected computer network from the Head quarter to almost all branches nationwide and provided a system of banking services including e-telegraphic transfer, international credit card, ATM, international payment by SWIFT. To date, AGRIBANK has been sufficient to provide modern and advanced banking services and products which are comfortable to all domestic and foreign customers.

AGRIBANK is one of the banks that has the largest correspondent bank relationship in Vietnam with more than 900 correspondent banks in 110 nations and territories as of 2003, is a member of Asian Pacific Rural and Agricultural Credit Association (APRACA), Confederation of International Credit for Agriculture (CICA) and Asian Bankers Association (ABA); has hosted several major international conferences such as FAO conference in 1991, APRACA conference 1996, 2004, CICA conference 2001, APRACA conference on fisheries 2002.

AGRIBANK is the first bank in Vietnam to receive and develop foreign projects, esp. those of WB, ADB, AFD. By the end of 2002, 62 projects with the total capital of USD 2,097 million had been received and properly controlled.

Website: http://www.vbard.com/en/jsp/news.jsp (English)