Agribank card services continue to maintain strong growth momentum


Agribank card services continue to maintain strong growth momentum, helping Agribank to maintain the number three position in Vietnam’s bank card market in 2018.

Compared to other banks, Agribank entered the Vietnam’s bank card market later, i.e. Agribank started participating in Vietnam card market since 2003. To date, Agribank card services have been offered across all 63 provinces; 713 administrative units (546 districts) (including remote, border, and island areas); 5 cities under the Central Authority with the total number of ATMs of the whole Agribank system of 2,883 units, the total number of ATMs equipped for district branches of 1,435 units, meaning on average each district branch is equipped with 2.01 ATMs.

In 2018 Agribank card services continued to be recognized and highly appreciated by the Vietnam Bank Card Association, domestic and international card organizations. Notabley, Agribank received the Highest average revenue/POS award from the Visa International Card Organization.

Regarding ATM market share, Agribank led the market with 15%. Regarding POS market share, Agribank ranked 4th in the market with 9%.  Agribank ranked third in the card market in terms of number of active cards (accounting for 14% of market share), payment turnover (accounting for 17%) and card use turnover (accounting for 15%).  

Agribank currently has approximately 12 million active cards, accumulative number of over 24 million cards, of which 2.7 million cards are newly issued cards in 2018.  Demand deposits via card reached VND 32.9 trillion. Payment turnover and card use turnover reached nearly 465 and 379 trillion dongs respectively, revenue from card services reached VND 1,049 billion as of November 30, 2018.

Also in 2018, Agribank equipped and put into operation 53 more ATMs to improve customer service quality, meeting the demand of expanding the number of customers opening accounts at Agribank branches.  Currently, Agribank is urgently speeding up the progress of investment projects for equipping more CDM machines to create a breakthrough in modernizing the multi-functional ATM network, contributing to reducing the transaction pressure at the counter,  creating a platform to provide modern services to customers.

Along with providing more high quality new services for customers for them to actively manage cards and other services right on electronic channels and ATMs without having to visit the branch, Agribank has always focused on improving quality of card services, providing value added services to those customers using Agribank cards with free insurance services for international cardholders or loyalty program.

Agribank continuously implements attractive promotional programs for customers who use Agribank cards.  In 2018, Agribank cooperated with card organizations to offer more than 100 promotional programs for cardholders such as “15 years of Agribank cards”, Rewards for using your credit cards, Winning iPhone X with QR Payment, etc.

Huong Nguyen

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