Agribank to firmly carry out equitization

Update: 09:00 | 13/03/2020
After restructuring efforts, Agribank’s business activities entered a new development stage, which is a solid premise towards the goals of equitization.
agribank to firmly carry out equitization Agribank and a vigorous change towardscapitalization
agribank to firmly carry out equitization Promoting the tradition of 30 years, in the year of 2018, Agribank has stepped firmly from its “internal strength”
agribank to firmly carry out equitization

2019 is the fourth year that Agribank implemented phase 2 of its restructuring plan, which is also the implementation of the 2016-2020 Business Strategy associated with handling bad debts and equitization process. Basically, Agribank has completed its set objectives: Improve financial capacity; control and improve asset quality, especially credit quality, reduce non-performing loans; controlled credit growth in accordance with targets; mobilized capital growth, ensuring liquidity, etc help contribute to the growth of business.

By the end of 2019, the total assets of Agribank reached over VND 1.45 trillion; capital reached over VND 1.34 trillion; debit balance and investments reached over VND 1.3 trillion, of which economy loans reached over VND 1.12 trillion; NPL ratio was 1.4%; debt collection after settlement reached over VND 12,000 billion, whilst completing the early clearance of all bad debts at VAMC, Agribank is considered as one of the best bank to clear out bad debts in the credit institutions system.

Agribank is a pioneer commercial bank, taking the lead in implementing the Party and State's political tasks in the field of "Tam Nong" (Agricultural, Rural area, Farmer). Agribank's capital accounts for a large proportion of the total debit balance of nearly VND 2 trillion in the fields of agriculture and rural area of Vietnam. Agribank pioneered and effectively implemented 7 policy credit programs, 2 national target programs on developing new rural areas and sustainable poverty reduction.

In order to create favorable conditions for the people to have easy access to capital and convenient products and services of the Bank, Agribank constantly simplifies loan procedures, improves loan models and methods, and cooperates with the localities, socio-political organizations to deploy over 71,000 loan groups with nearly 1.5 million members; safely mobilized 68 mobile transactions using single-purpose cars with nearly 8,200 transactions, serving nearly 800,000 customers in over 400 communes across the country; implement consumer credit program with loan turnover of over VND 8,700 billion to serve more than 211,000 households and individuals.

The Agribank brand has been brought to the world by establishing relationships with nearly 700 banks in 85 countries and territories. Agribank is the leading bank in receiving and implementing Credit projects from international sponsors. Currently, Agribank is implementing 43 memorandums of understanding, comprehensive cooperation agreements, finance sponsorship, products and services, and training with domestic and foreign financial institutions.

With important contributions in recent years, Agribank was awarded a number of noble titles by by the Party, State and Goverment of Vietnam: Hero of Labor of the Doi Moi Era, Order of Labor, Enterprise with Outstanding achievements in servic of agricultural, rural and farmer economic development... In 2019, Agribank continued to reach Top 10 VNR500 Ranking - Top 500 Largest Enterprises in Vietnam; Top 20 in the list of 1000 enterprises paying the most corporate income tax in Vietnam; Sao Khue Award 2019; Bank for supporting high-tech agricultural investment, Outstanding Bank for the community, etc. In January 2020, Agribank was ranked at 190 in the Brand Finance Banking 500 2020, the annual report on the most valuable and strongest banking brands.

Agribank identified 2020 as the year to focus on maximizing all resources to finalize equitization, with the central goal of continuing to stabilize and improve business quality, maintain a leading role in the “Tam Nong” monetary and credit market; improve financial capacity and credit growth to ensure the compliance with operational safety ratios; strengthening inspection and control, drastically handling and recovering bad debts; enhance the application of the achievements of Industry 4.0 in developing a modern banking products and services, enhance Agribank's competitiveness.

With all the recent achievements, Agribank is on its way to reach new heights, affirming its position as a leading commercial bank in Vietnam, attracting investors and implementing equitization plans. Agribank is keen to cooperate with strategic investors to furthermore, develop its brand in the future.

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