On March 24, in Hanoi, the Vietnam Bank for Agriculture and Rural Development (Agribank) held a ceremony to receive the First Class Labor Medal and celebrate the 35th anniversary of its establishment (March 26, 1988 - March 26, 2023).
This event marks the 35-year journey of establishment and growth, and is the recognition of the Party and State for Agribank's positive contributions to the country's socio-economic development, especially the cause of agricultural, farmer and rural development.
Established in the early years of the renovation period, with the persistent efforts and determination to overcome all difficulties of generations of cadres and workers in the entire system, Agribank has promoted its pioneering and exemplary role as a 100% state-owned commercial bank in implementing the policies of the Party, the State and the Industry; always steadfast in its mission of meeting the demand for credit capital and banking services to serve the socio-economic development of the agricultural and rural areas, closely accompanying farmers and the business community across the country.
Speaking at the ceremony, Chairman of the Board of Members of Agribank Pham Duc An emphasized: Through each development period with different names, however, the mission for agriculture, for farmers, and for the Vietnamese countryside has always been the "red thread" throughout the development journey. Agribank always accompanies people and businesses across the country, ensuring the supply of capital and services for production and business development with many creative and effective ways, leaving a strong impression in each development stage. These include models such as piloting loans to farming households, establishing a joint venture lending group, mobile banking, proposing an initiative to establish a bank to serve the poor (the predecessor of today's Social Policy Bank), investing in the development of clean agriculture, linkage chains, high-tech agriculture, etc.
After 35 years of development, Agribank has become the bank with the largest scale and network of operations in the system of credit institutions in Vietnam with 2,300 branches and transaction offices present in all regions, areas and island districts; over 40,000 officers and employees.
Agribank's operations have achieved stable growth in terms of scale, structure, quality and efficiency with total assets reaching over 1.89 million billion VND; capital reaching over 1.71 million billion VND; total outstanding loans to the economy reaching over 1.44 million billion VND; of which 65-70% of outstanding loans are always reserved for "Tam Nong" investment. Agribank's capital accounts for the largest proportion in the market share of agricultural and rural investment credit in Vietnam.
Agribank has always promoted its pioneering and exemplary role in seriously and effectively implementing the national monetary policy and the Party and State's guidelines and policies on "Agriculture, Rural Development", on currency and banking, especially credit policies serving agricultural and rural development, contributing significantly to stabilizing the macro-economy, controlling inflation, promoting growth and ensuring social security, developing agriculture, "supporting" the economy in a modern and sustainable direction.
Agribank is also a pioneer, responsible, and effective in implementing 7 credit policy programs, contributing to the results of the National Target Program on hunger eradication, poverty reduction, and new rural construction. Agribank develops and provides many convenient, modern products and services, diversifying capital channels and banking services to people and businesses, promoting non-cash payments, and actively contributing to the cause of building and developing the country's economy and society.
In addition to business activities, Agribank also focuses on supporting social security with many projects and long-term and comprehensive sponsorship programs across the country. Every year, Agribank spends about 400 - 500 billion VND to support the construction of schools, medical stations, charity houses, overcoming the consequences of natural disasters, preventing the COVID-19 epidemic, responding to meaningful activities "For a green future", "For a green Vietnam"...
Recognizing the important contributions of Agribank to the country's economic development, Governor of the State Bank of Vietnam Nguyen Thi Hong also emphasized Agribank's tasks in the coming time; focusing on continuing to promote its key role in providing capital and banking services for agriculture and rural areas.
Along with that, focus on building and effectively implementing the restructuring project for the period 2021-2025, preparing conditions for equitization, switching to operating under the model of a joint stock commercial bank with state-owned capital, striving to soon make Agribank a modern bank and rank in the Top 100 largest banks in Asia in terms of asset size.
In addition, the Governor also requested Agribank to continue to effectively implement national target programs on poverty reduction and sustainable social security, new rural construction, and socio-economic development in ethnic minority and mountainous areas in the 2021-2025 period according to the policies of the Party and State.
At the ceremony, on behalf of the Party and State, Vice President Vo Thi Anh Xuan awarded the First Class Labor Medal to representatives of the Board of Members and the Board of Directors of Agribank./.
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