THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Agribank: One of VN’s 200 top enterprises
VNGOP – The Việt Nam Bank for Agriculture and Rural Development (Agribank) was established 20 years ago. It now has more than 2,000 branches and transactional offices nationwide and possesses a total property of US $20 billion and a 30,000-strong labor force.
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Capital market development and capital account liberalization are some fields of financial cooperation within ASEAN
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Agribank has always spent over 70% of its debt balance to lend farmer households and enterprises operating in agriculture, forestry, fishery and salt making.
The bank has diversified its mobilization of capital, especially in big cities, transferred capital from urban to rural areas, and attracted authorized capital from foreign governments, international financial, political and social organizations, including ADB, WB, AFD, IFAD, and KFW to support agricultural development and poverty reduction.
In 2007, Agribank was voted by the UNDP as one of Việt Nam’s 200 top businesses.
Agribank targets to firmly hold its leading position in providing credits for agricultural development. It will also start its equitization to become the biggest financier in Việt Nam.
By Xuân Phương