Agribank always affirms its role as the largest State-owned commercial bank in the credit institution system in Vietnam, steadfast in its main mission of investing in the development of agricultural economy, farmers and rural areas, contributing to stabilizing the macro economy, controlling inflation and promoting the country's economic growth.
During its 36-year development journey, Agribank's capital has been helping many Vietnamese enterprises develop sustainably and reach out to the world from local raw materials and agricultural products.
Support businesses to develop strongly and affirm their reputation in domestic and international markets.
Vietnam is one of the 10 largest construction ceramics producing countries in the world and is also the country with the 4th largest tile production in the world. From the source of raw materials through many stages and modern production technology, high-quality tiles of Thien Hoang Technical and Commercial Joint Stock Company (Mikado Group) were formed. In 2002, the company decided to invest in Tien Hai - Thai Binh. At that time, with the investment in modern technology lines, suitable for market tastes, the products were sold out as soon as they were produced. In those early days, the company's revenue was about 2 billion VND/month, a dream number at that time. Not stopping there, the company continued to implement solutions to bring Vietnamese tiles to the big sea. At first, the company exported to France, very small size tiles 20*20, suitable for French tastes, then exported to the US, Korea, Thailand and up to now, the company's tile products have been present in 60 countries around the world, revenue in 2023 brought in over 30 million USD. Initially, the company had 01 factory, up to now, after 22 years, the company has owned a large facility with 10 large capacity factories carrying the aspiration to bring "land" Vietnam far away...
In the strong development of Mikado Group, there is the faithful companionship of Agribank. From the early days, Agribank has invested 25 billion VND in Mikado Group to build the first factory (with a total investment of 56 billion VND). Up to now, Agribank has always accompanied Mikado with a credit limit of up to 400 billion VND, completely meeting the capital needs of enterprises to feel secure in production and business. Mr. Pham Bach Tung - General Director of Mikado Group affirmed: "The capital of the Agricultural Bank from the beginning until now is a very valuable asset, helping the company to develop, expand and constantly reach out".
With great support in terms of initial capital, the company decided to invest in the entire system of modern machinery for production - creating a standard starting point for product quality right from the start... Determining from the very beginning that it would promote domestic consumption, while constantly expanding foreign markets, over the past 20 years, this goal of the company has been guaranteed with an export ratio structure: 30% of output. The pressure to bring products to the international market and increase the export ratio is not small. The company is always innovating in terms of design, product quality and service quality...
Not only accompanying the development of Mikado Group, Agribank has been accompanying many large domestic agricultural product exporting companies, including Prosi Thang Long Joint Stock Company. Prosi Thang Long Joint Stock Company was established and put into operation in 2014, with charter capital continuously growing to reach 289 billion VND. The company currently trades in 5 main products: cinnamon, star anise, pepper, coconut rice and cashew nuts. The company purchases products directly from farmers and businesses in some northern provinces such as Yen Bai, Lang Son, Thanh Hoa, Quang Ninh, the Central Highlands region such as Dak Lak, Gia Lai, Lam Dong... and the southern region such as Binh Phuoc, Ben Tre... Currently, the company mainly exports the above 5 products directly to foreign markets, to customers in about 78 countries around the world: Thailand, Russia, India, Sri Lanka, Sudan, USA, Egypt, Brazil, Canada, United Arab Emirates, Bangladesh. In 2023 alone, with a growth rate of more than 180% in output, Prosi Thang Long has become the largest star anise exporter in Vietnam, earning tens of millions of dollars.
Prosi Thang Long Joint Stock Company has been a loyal customer at Agribank Transaction Office Branch since 2016. Up to now, the credit limit for the company is 120 billion VND. Agribank has been providing enough capital for production and business enterprises. Agribank always proactively researches, understands the market and promptly grasps customers' loan needs to provide appropriate support and companionship solutions. Mr. Vu Quoc Minh - Deputy Director of Agribank Transaction Office Branch emphasized: "We always proactively approach customers, grasp loan needs, promptly establish credit relationships, promptly meet customers' capital needs. In addition, we always closely follow the business and financial situation of enterprises, periodically update customer results to be able to advise and apply policies on loan guarantees, interest rates, fees and payment services suitable for enterprises in each period..."
Agribank and important policies to support businesses and people to develop quickly and sustainably
Since its establishment, Agribank has always been steadfast in its mission of serving “Tam Nong”. Agribank always allocates 70% of its total outstanding loans to serve the development of agriculture, farmers and rural areas, accounting for the largest proportion of outstanding “Tam Nong” credit in Vietnam.
Agribank has proactively and actively implemented effectively 07 policy credit programs and 02 national target programs on new rural construction and sustainable poverty reduction, providing over 200 convenient banking products and services with many distribution channels to meet the diverse needs of customers. Every year, Agribank always leads in the amount of support for customers and the economy by spending thousands of billions of VND to support low-interest loans for priority subjects in agricultural production; creating favorable conditions, supporting people and businesses to access loans and use banking services, serving the effective development of production and business, solving employment problems, shifting labor structure, improving the lives of people in rural areas; making a certain contribution to the success of the agricultural restructuring process, contributing to building and developing the economy associated with national defense, security, ensuring social security.
In recent times, Agribank has proactively and flexibly provided credit capital for the economy and served production and business activities, focusing on three main growth drivers: consumption, export, investment and prioritizing five key areas including export, agriculture, high technology, small and medium enterprises, and supporting industries. In particular, since the beginning of 2024, Agribank has implemented many solutions to increase access to capital and promote credit growth, including proactively adjusting lending interest rates, implementing credit programs of more than VND 150,000 billion with lending interest rates 1-3% lower than normal interest rates to encourage and support customers to use capital.
Directing capital flows to 3 growth drivers and 5 priority areas, in 2024, Agribank will implement preferential credit programs for corporate customers operating in import and export activities with a scale of 20,000 billion VND, with a maximum interest rate reduction of 2.4%/year; small and medium-sized enterprise customers with a scale of 20,000 billion VND, with a maximum interest rate reduction of 1.5%/year; enterprises investing in projects in 6 key industries and green sectors with a scale of 15,000 billion VND, with an interest rate of only 6% fixed in the first year; individual customers producing and trading OCOP products with a preferential interest rate lower by a maximum of 2.0%/year compared to the normal lending interest rate floor; preferential credit programs serving production and business activities with an interest rate of only 3.0%/year and serving living needs with an interest rate of only 4.0%/year.
Agribank has been making efforts to implement many solutions to support customers, accompanying customers to overcome difficulties to develop production and business. From Agribank's capital, many customers have developed their economy quickly and sustainably, enriching their homeland and country.
VOV.VN
Source: https://vov.vn/doanh-nghiep/doanh-nghiep-24h/nguon-von-agribank-giup-doanh-nghiep-viet-vuon-xa-post1106706.vov
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