Vietnam Bank for Agriculture and Rural Development

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Agribank or formally the Vietnam Bank for Agriculture and Rural Development (Template:Langx) 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.[1]

History

Agribank was established on March 26, 1988.[2][3][4] 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.[5]

By 2000, Agribank had 2,300 branches and transaction offices nationwide, accounting for 40% of the agricultural credit market share.[6][7] In 2011, Agribank converted to a one-member limited liability company owned 100% by the State.[8][9][10]

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.[11][12] 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.[13][14][15] 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.[16][17][18] 63 trillion VND; and total outstanding loans to the economy reached over 1.44 trillion VND.[19][20][21]

In 2022: Agribank was awarded the "Excellent Payment Quality" award by JP Morgan Bank, USA.[22][23]

See also

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References

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External links

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