Agribank contributes to promoting communication on financial literacy


Being a commercial bank playing a key role in providing capital and banking products and services for economic development, especially agriculture, farmers and rural areas, to help more customers understand, access, use capital, and benefit from credit programs, guidelines of the Party and the State, in TV game shows about banking and finance, Agribank has cooperated with The SBV Communication Department in introducing credit policies for agricultural and rural development, with the expectation that people, especially individuals and enterprises operating in the field of agriculture and rural areas understand the policies, thereby realizing and bringing the policies to life. 

In addition, Agribank introduced to the audience about convenient banking products and services, etc. helping the audience understand the benefits of using banking services and the benefits of non-cash payment. 

Seriously implementing the direction of the State Bank on reforming administrative procedures, Agribank has gradually reformed its procedures to better serve its customers, reduce costs, shorten service time, provide complete information to customers, improve the way to communicate with customers, provide information on policies, especially policy credit programs, etc.

In these programs, Agribank has also introduced to the audience about the benefits of joining Agribank's Loan Group, Agribank mobile van banking facilities that have been effectively implemented by Agribank. To date, Agribank has cooperated with Vietnam Farmer's Union and Vietnam Women's Union to successfully deploy over 63,000 loan groups with over 1.4 million members; safely deploy 68 mobile banking vans with over 6,700 service sessions, serving nearly 700,000 customers in 405 communes across the country, thereby creating favorable conditions for households and individuals, especially in remote areas, to have access to loans and banking services.

With over 71 million adults (over 15 years old) and per capita income of USD 2,062 (2018), according to the World Bank, Vietnam is still among lower middle income countries. Meanwhile, financial development in an inclusive manner is in the early stages. The proportion of people with a bank account, especially among people living in rural areas, low-income people, and women remains inadequate, while the growing Internet promotes non-cash payment development solutions in Vietnam. And according to the World Bank, having an account is considered the first step in implementing financial inclusion, because it allows people to send and receive money, as well as opens opportunities for use of many other financial services.

In the coming period, the financial education program will focus on providing information about banking services such as payment, savings, loans, etc. and target people in remote areas, young people and groups with little financial information in order to continue to contribute to improving access to financial services, promoting non-cash payment in Vietnam. Agribank continues to join the SBV in implementing financial education programs for the community with the expectation that more and more people from all regions of the country will acquire information, knowledge and use banking and financial services, towards the common goal of successful implementation of the National Financial Inclusion Strategy.


Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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