Agribank’s assets exceed VND1 quadrillion

Tuesday, Jul 11, 2017 15:57

Agribank’s total assets have exceeded VND1 quadrillion (US$43.86 billion). — Photo

After BIDV, Agribank is the second bank to be named on the country’s list of banks with total assets exceeding the threshold of VND1 quadrillion (US$43.86 billion).

According to Agribank’s latest mid-year report, its total assets reached VND1.02 quadrillion by the end of May.

The bank’s mobilised capital by the end of May was nearly VND964.7 trillion, while its total outstanding loans were VND781 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 VND3 trillion, of which loans for the clean agriculture segment was VND633 billion, with 23 institutional customers and 44 individual customers; and loans for the high-tech agriculture segment was VND2.4 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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