Type State-owned Net income $154 million USD Headquarters Hanoi, Vietnam | Key people Tiet Van Thanh, CEO Total assets $36,34 billion USD Founded 26 March 1988, Vietnam | |
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Industry Banking, Finance, Security Products Transaction accounts
Insurance
stock brokerage
Investment bank
Asset-based lending
Consumer finance
Trade
International payments
Foreign exchange CEO Tiet Van Thanh (9 Jun 2014–) Motto Brings Prosperity to Customers Subsidiaries Hanoi Gemstone and Jewelry | ||
The Vietnam Bank for Agriculture and Rural Development or Agribank (Vietnamese: Ngân hàng Nông nghiệp và Phát triển Nông thôn Việt Nam) is the largest commercial bank in Vietnam by total assets. It is a state-owned corporation under a special status. According to a report by the United Nations Development Programme, Agribank is also the largest corporation in Vietnam.
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History
The bank was founded on 26 March 1988, by the then-Council of Ministers of Vietnam as a specialised bank aimed at rural and agricultural development as Vietnam Bank for Agricultural Development. The bank built on the agency network of the State Bank of Vietnam for its branches. On 14 November 1990, it was replaced by the Vietnam Bank for Agriculture by a prime ministerial decision. On 15 November 1996, it was renamed again to Vietnam Bank for Agriculture and Rural Development.
Size
Agribank is the largest bank in Vietnam by most measures: capital, total assets, staff, operating network, and clients. Its capital as of March 2007 was VND 267.000 billion, with an equity of VND 15.000 billion and total assets of almost VND 239.000 billion. The bank operates 2.200 branches nationwide with 30.000 staff.