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Agribank honored with prestigious awards

12/01/2021

In 2020, Agribank had made efforts to join hands to support customers to overcome difficulties, while maintaining a key role in the agricultural and rural financial markets. Recognized for these contributions, Agribank has been nominated and honored with many prestigious awards.

Although the COVID-19 pandemic has affected the economy and business activities of businesses, Agribank still achieved positive results in the past year 2020. As of December 31, 2020, Agribank's total assets reached nearly VND 1.57 million billion; funding resources of over VND 1.45 million billion; total outstanding loans to the economy reached over VND 1.21 million billion, of which nearly 70% of outstanding loans are for agricultural and rural development investment.

Agribank's credit capital accounts for a large proportion in the total outstanding loans of nearly VND 2 million billion in the agricultural and rural sectors, making an important contribution to the development of Vietnam's agriculture in particular and the country's economy in general.

Recognizing the effective business performance of Agribank, Vietnam Report Joint Stock Company (Vietnam Report JSC) has put Agribank in the list of “Top 10 most prestigious commercial banks in Vietnam in 2020”.

According to the recently announced VNR500 Ranking – List of top 500 Vietnamese enterprises, Agribank was also honored at 8th position. This is the 11th time that Agribank has been ranked TOP10 VNR500 and the number one position in the commercial banking system in Vietnam.

Over the past years, according to Agribank's leaders, the bank's investment in credit for agricultural development for hi-tech application and clean agriculture has always been the highlight of the industry. In particular, Agribank also pioneered in implementing a preferential credit program with a minimum scale of VND 50,000 billion for clean agricultural production.

In November 2020, Agribank was honored with two awards “Outstanding bank for high-tech agricultural investment” and “Outstanding bank for the community” 2020. These two awards are the prestigious annual awards in the banking industry, held from 2012 to present, to honor banks with outstanding performance in terms of banking operations, products and services, making contribution to the development of the industry, etc.

In addition, Agribank has just been awarded the "Initiative for the community in 2020" for two projects: Mobile transaction units using specialized vans and Promoting the development of card services in agricultural and rural markets.

These two projects have contributed to creating favorable conditions for people in rural, remote and isolated areas; the poor and people with low income have access to and use of banking and financial services, contributing to the elimination of black credit.

In 2020, Moody's upgraded Agribank’s long-term foreign-currency deposit rating from B1 to Ba3, equivalent to Vietnam's rating. According to Moody's assessments, Agribank has made remarkable progress in handling legacy problem assets in recent years, contributing to improving asset quality stability; capital mobilization and liquidity are at good level, mainly from individual customers and less affected by market fluctuations. Agribank has the advantage of having the largest branch network in Vietnam and the strong support from the Government due to its policy role as a provider of financial services in rural areas of Vietnam, with a special mission in supporting and developing the agricultural and rural sector in Vietnam.

 

Kylie Nguyen

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