On March 26, 2018, the Vietnam Bank for Agricultural and Rural Development (Agribank) organized a ceremony marking its 30th year in operations, and celebrating the receipt of the First Class Labor Order at Vietnam National Convention Center.
The ceremony was attended by Prime Minister Nguyen Xuan Phuc, Governor Le Minh Hung of the State Bank of Vietnam (SBV), representatives from the ministries, government agencies, the international orgnizations, commercial banks, etc.
In his speech, Mr. Trinh Ngoc Khanh, Chairman of the Board of Members of Agribank, briefed the guests of Agribank’s development history from 1988 to present. He shared that, after 30 years of establishment and development, Agribank is now one of the leading state-owned commercial banks in Vietnam with the total assets of VND 1,200 trillion; the mobilized resources reaching VND1,100 trillion; credit and investment scale of VND 1,120 trillion, the total outstanding for the agriculture and rural field accounting for 73,6%, which represents 51% of the total credit for this sector in the whole banking system. Being a pioneer in the implementation of the directives and policies of the Party and the Government, Agribank is now conducting 9 policy credit programs, providing over 200 banking products and services, greatly contributing to the development of non-cash payment, improving accessibility to the banking services, etc.
Governor Le Minh Hung speaks at the ceremony
Speaking at the ceremony, Governor Le Minh Hung affirmed that after 30 years of development, Agribank has maintained a stable growth in terms of scale, structure, quality and performance. The Bank has always been a companion of the farmers all over the country, ensuring sufficient capital for production and business development with many innovative and effective methods for each of the country’s development stages. At the same time, the Governor also emphasized the tasks for Agribank in the coming time as follows: ensuring sufficient capital for agricultural and rural development; implementation of the restructuring plan for 2016-2020 period, focusing on the execution of the SBV-approved Restructuring Plan in collaboration with NPL resolution for 2016-2020 period. Especially, Agribank is required to accelerate the preparations for its equitization process in line with the directions of the Government and the SBV.
Congratulating Agribank’s excellent achievements, PM Nguyen Xuan Phuc praised the Bank for having provided and supported financially the development of agriculture, farmers and rural areas. He also applauded the Bank’s breakthroughs in supplying credits for the farmer households, thus greatly contributing to poverty reduction and becoming a dependable partner of Vietnamese farmers. Moreover, he also pointed out some shortcomings of Agribank with regard to products and services, administrative procedures, human resources and the weaknesses in analyzing and forecasting the market. He requested the Bank put better efforts in carrying out the task of promoting the development of agriculture and rural areas, so as to bringing about more benefits for farmers. At the same time, Agribank also needs to step up the provision of loans to the cooperatives, micro and small businesses in the rural areas in order to contribute further to the New Rural Development process in Vietnam.
PM awards the First Class Labor Order to Agribank
At the ceremony, PM Nguyen Xuan Phuc awarded the First Class Labor Order to Agribank in recognition of its outstanding performances.
Chairman Trinh Ngoc Khanh speaks at the ceremony
In responding to the PM’s and the SBV Governor’s opinions, Agribank Chairman Trinh Ngoc Khanh expressed his sincere thanks for the attention of the PM and the SBV Governor. On behalf of Agribank officials and employees, he promised that Agribank is determined to realize and would not stop striving for the successful accomplishment of the PM’s instructions and the assigned tasks in 2018.
Le Hang