Vietnam Bank for Agriculture and Rural Development
|Industry||Banking, Finance, Security|
|Founded||26 March 1988|
|Headquarters||Ba Dinh District, Hanoi, Vietnam|
|Tiet Van Thanh, CEO|
|$154 million USD|
|Total assets||$36,34 billion USD|
Number of employees
|40,000 full time equivalent|
The Vietnam Bank for Agriculture and Rural Development or Agribank (Vietnamese: Ngân hàng Nông nghiệp và Phát triển Nông thôn Việt Nam) is the largest commercial bank in Vietnam by total assets. 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.
The bank was founded on 26 March 1988, by the then-Council of Ministers of Vietnam as a specialised 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 14 November 1990, it was replaced by the Vietnam Bank for Agriculture by a prime ministerial decision. On 15 November 1996, it was renamed again to Vietnam Bank for Agriculture and Rural Development.
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 nationwide with 30.000 staff.
- Scott Cheshier and Jago Penrose (2007). "Industrial Strategies of Viet Nam's Largest Firms" (PDF). United Nations Development Programme.
- (in English) Official website