Agribank’s assets exceed VNĐ1 quadrillion

July 11, 2017 - 16:00

The Commercial Joint Stock Bank for Agriculture and Rural Development of Việt Nam (Agribank) is the second bank to be named on the country’s list of banks with total assets exceeding the threshold of VNĐ1 quadrillion (US$43.86 billion).

Agribank’s total assets have exceeded VNĐ1 quadrillion (US$43.86 billion). - Photo vietstock.vn

Viet Nam News

HÀ NỘI — After BIDV, Agribank is the second bank to be named on the country’s list of banks with total assets exceeding the threshold of VNĐ1 quadrillion (US$43.86 billion).

According to Agribank’s latest mid-year report, its total assets reached VNĐ1.02 quadrillion by the end of May.

The bank’s mobilised capital by the end of May was nearly VNĐ964.7 trillion, while its total outstanding loans were VNĐ781 trillion, of which lending to agriculture and rural areas accounted for over 70 per cent of Agribank’s total outstanding loans, or equivalent to 50 per cent of the entire banking system’s total market share in the sector.

The total outstanding loans under Agribank’s preferential credit programmes for clean agriculture area reached more than VNĐ3 trillion, of which loans for the clean agriculture segment was VNĐ633 billion, with 23 institutional customers and 44 individual customers; and loans for the high-tech agriculture segment was VNĐ2.4 trillion, with 20 institutional customers and 3,063 individual customers.

Agribank’s system currently has over 2,300 branches and transaction offices with nearly 40,000 employees.

International credit rating organisation Fitch Ratings recently revised Agribank’s Long-Term Issuer Default Rating Positive from Stable. — VNS

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