Vietnam Bank for Agriculture and Rural Development

Vietnam Bank For Agriculture And Rural Development

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Vietnam Bank for Agriculture and Rural Development

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Description:
The Vietnam Bank for Agriculture and Rural Development or Agribank () is the largest commercial bank in Vietnam by total assests. 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.

History

The bank was founded on March 26, 1988 by the then-Council of Ministers of Vietnam as a specialized 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 November 14, 1990, it was replaced by the Vietnam Bank for Agriculture by a prime ministerial decision. On November 15, 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 nation-wide with 30,000 staff.

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