Finance & Banking

Last updated: Thursday, February 21, 2019


Agribank Song Than: A Business Confidant

Posted: Wednesday, May 09, 2018

2018 marked 10 years of operation for the Vietnam Bank for Agriculture and Rural Development - Song Than Industrial Park Branch (Agribank Song Than). Despite numerous difficulties and challenges, Agribank Song Than always fulfils its assigned tasks and becomes a true companion of the business community.

Agribank Song Than was established in 2008 with the merger of three branches - Agribank Song Than Industrial Park Branch, Agribank Thuan An Branch and Agribank Di An Branch. Since then, powered by the continuous development of the Agribank system and local socioeconomic development, Agribank Song Than has also made strong development steps. At present, the branch is among Top 5 commercial banks in Binh Duong province by market share. It posts a deposit growth of 22 per cent, an outstanding loan of 16 per cent and a bad debt ratio of below 1 per cent.

In 2017, Agribank Song Than reported over VND11,400 billion of deposits and over VND8,000 billion of outstanding loans. In the year, its credit growth was highest in five years, reaching 30.5 per cent, 10.3 per cent higher than the industry average of 20.2 per cent in Binh Duong province. Non-performing loan (NPL) ratio accounted for 0.11 per cent of total outstanding loans, compared with the plan of 0.4 per cent.

Located in one of the most developed industrial areas in Binh Duong province, Agribank Song Than has rapidly utilised its advantages. It has built up good relationships with many domestic and foreign companies, especially Taiwanese. The branch has regular transactions with over 60 per cent of Taiwanese firms in the province.

Based on Agribank’s policy, over the years, Agribank Song Than has always supported and shared with businesses by applying a series of flexible policies on loans and interest rates for target customers like importers and importers engaged in food and agricultural product processing, wood processing and consumer loans subject to competitive interest rates for each maturity term and target borrowers. By the end of 2017, its outstanding loans for corporate customers accounted for about 70 per cent. In 2017 alone, it lent VND5,544 billion to 243 corporate customers, accounting for 69.07 per cent of total outstanding loans.

As a majority of corporate customers are FDI enterprises, fostering foreign languages, especially Chinese, is emphasised by the branch. Ms Pham Thi Kim Nga, Director of Agribank Song Than, said that human resources are the core strength of the branch. All employees are trained in professional expertise and moral conducts. All staffs in the customer service division are as fluent in English and Chinese as their mother tongue. This facilitates communication with foreign customers and builds up the satisfaction and trust of customers.

Efforts of Agribank Song Than are highly appreciated by customer companies. Speaking about the ties between his company and Agribank Song Than, Mr. Lee Young Man, chairman of Sunghyun Group, said that he has invested in Vietnam for 18 years and had cooperated with Agribank from the beginning. “We cooperated with Agribank right from the outset, a very tough time for the company. However, Agribank always supported us to overcome difficulties and develop until today. We have been cooperating with Agribank, specifically Agribank Song Than, and expect that the branch will continue to support us in the present time and in the future,” said Lee Young Man.

Mr Tsai Wen Jui, Honorary President of the Binh Duong Chapter of the Taiwan Business Association and General Director of Pro Active Global Vietnam Company, said that he has been in Vietnam since 2000. His company was among the first tenants to build a factory in Song Than Industrial Park. And, from the first factory, his company now has three. At that time, he had the opportunity to meet and cooperate with Agribank and has kept that close relationship up to now. “I think Agribank in general and Agribank Song Than in particular are very good bankers. Under the leadership of the Branch Board of Directors, the branch staff always show enthusiasm, consideration, politeness and expertise, always care and understand customer needs and persistently seek solutions to help customers in need. I feel fortunate to have the opportunity to work with such a good partner and I have also introduced Agribank Song Than to my friends,” he said.

Quoc Hung

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