In 2024, the results of the banking sector were highly appreciated by the Government, the Prime Minister, all levels, sectors, localities, international organizations, domestic and international investors, contributing to enhancing Vietnam's position in the international arena and attracting FDI back to Vietnam. Together with the whole sector, Agribank has achieved very impressive and comprehensive results in many aspects of operation.
Comrade Dao Minh Tu - Deputy Secretary of the Party Committee, Permanent Deputy Governor of the State Bank delivered a speech at the Conference - Photo: VGP/HT
On January 10, in Hanoi, the Vietnam Bank for Agriculture and Rural Development (Agribank) held a conference to review business activities in 2024 and deploy tasks for 2025. The conference was held in person and connected online to all points across the system. According to the report of Agribank's leaders: In 2024, Agribank fully completed the business plan targets assigned by the State Bank, the highest result after 4 years of implementing the Restructuring Plan associated with bad debt settlement for the period 2021-2025. By the end of 2024, Agribank's total assets reached 2.2 million billion VND, an increase of nearly 10%; capital reached over 2 million billion VND, an increase of 7.6%; Outstanding loans to the economy reached over 1.7 million billion VND, up 11%, of which 65% of outstanding loans were for the development of "Tam Nong", focusing on allocating capital for renewable energy development, clean energy, industrial development, real estate business, consumer activities, services... By 2024, Agribank will be provided with an additional 17,100 billion VND of charter capital from the State budget as planned, raising the total charter capital to 51,600 billion VND, contributing to improving financial capacity, creating a premise for sustainable development in the next period.
Comrade Pham Toan Vuong - Deputy Secretary of the Party Committee in charge of the Party Committee, Member of the Board of Directors, General Director spoke at the Conference - Photo: VGP/HT
Agribank focuses on drastically and synchronously implementing many solutions to promote safe and effective credit growth, focusing on production and business, priority areas, and growth drivers. Agribank continues to effectively implement 7 policy credit programs, national target programs on new rural construction, sustainable poverty reduction, and socio-economic development in ethnic minority and mountainous areas. Agribank has implemented many rounds of loan interest rate reduction, seriously publicizing interest rates according to the direction of the State Bank; implementing 17 preferential interest rate credit programs with a total scale of 457 trillion VND for various customer groups. Accordingly, credit growth in 2024 is higher than the target set at the beginning of the year and much higher than the growth rate in 2023...
Comrade Dao Minh Tu - Deputy Secretary of the Party Committee, Permanent Deputy Governor of the State Bank awarded the State Bank's emulation flag to outstanding units in the Agribank system - Photo: VGP/HT
Agribank continues to take the lead and actively implement the Comprehensive Financial Strategy, contributing to bringing financial and credit services to people in agricultural and rural areas; taking the lead in implementing the action program of the Government and the Banking sector on implementing the National Strategy on Green Growth, promoting green credit, practicing ESG, towards a green and sustainable economy. In 2024, Agribank excellently won the Special Award "Green Bank for Green Life", affirming its role as a pioneering and leading bank in implementing Vietnam's green transformation goals. In addition to business activities, Agribank always promotes the social responsibility of "Bank for the community". In the context of many economic difficulties, from financial resources and the response of nearly 40,000 officers and employees of the entire system, in 2024, Agribank supported nearly 700 billion VND to implement social security activities, focusing on the fields of education and health; building houses of gratitude, solidarity houses; poverty reduction; gratitude; overcoming the consequences of natural disasters, storms and floods... In the face of the severe impact of storm No. 3 and historic floods, Agribank proactively responded, ensuring smooth operations, promptly grasping the situation, implementing solutions to restructure debt repayment terms, reduce loan interest rates, make new loans, and together with the banking sector and the political system quickly supported customers, businesses, and people to stabilize their lives and rebuild production and business activities. Agribank continues to be recognized by the Party, the State, domestic and international organizations with many prestigious awards: The only bank to be honored as "Enterprise meeting Vietnamese Business Culture standards in 2024"; ranked in the top 10 largest tax-paying enterprises and the second largest bank in corporate income tax in Vietnam; "Vietnam National Brand" award, "National Quality" award, Sao Khue award; "Vietnam Golden Star" award... Agribank continues to be rated "Ba2" by Moody's, "BB" by Fitch Ratings, Stable outlook, equivalent to the national credit rating and the highest rating among Vietnamese banks.
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