Agribank An Giang: Helping Hand for Local Economic Development

5:39:48 PM | 28/3/2013

Accompanying the process of socioeconomic development of An Giang province, since its inception, the An Giang Province Branch of the Vietnam Bank of Agricultural and Rural Development (Agribank An Giang) always plays a pioneering role in financing all economic sectors. With its continued effort in all aspects, Agribank, An Giang has today become a very important supporter and companion of businesses and citizens in the province.
Established in 1988, Agribank An Giang now has 500 employees working in 25 transaction offices in all districts. Agribank is the only lender with operating presence in all districts and towns and has the largest workforce of the banking industry in the province. As of the end of November 2012, its total deposits reached VND5,000 billion, accounting for 25.5 per cent of the market share in the province, and outstanding loans reached VND8,100 billion, accounting for 25.9 per cent of the market share. It had 162,000 deposit accounts and 50,000 lending accounts by that time. Agribank An Giang is the largest among 63 credit institutions in the province in terms of capital mobilisation and lending value. In addition to traditional products and services, the branch also has modern banking products such as Internet Banking, SMS Banking, Mobile Banking, VNPAY, domestic and international payment cards. The customer-centred centralised data management system helps customers complete banking procedures quickly.
Agribank An Giang always puts a premium on capital mobilisation. Therefore, the branch keeps close monitor on market developments to take timely measures to ensure capital growth and maintain market share. This policy is clearly and continuously passed on all the staff. The branch also strictly abides by the State Bank of Vietnam (SBV)’s guidance on deposit interest rates. The branch at all times takes initiative of capital sources to ensure liquidity and create favourable conditions for the people and businesses to access loans to expand production and business activities. This is evidenced by the branch’s credit growth. By the end of November 2012, its credit growth was 9.3 per cent, compared with the overall credit growth of 2.3 per cent in An Giang province.
To continue development, Agribank An Giang always adheres to the SBV’s guidance and the province’s socioeconomic development orientation. Specifically, the branch effectively implements monetary, credit and banking operating solutions and policies as per the Directive 01/CT-NHNN and the Action Programme of the State Bank of Vietnam (SBV).
Apart from commercial loans, the branch actively supports credit investment in 34 communes joining the pilot new countryside programme. The branch strictly adheres to the SBV’s regulation and instruction on deposit and lending interest rates and deeply takes care of advertising and communication efficiency tied to social security to boost the brand name, uplift the position, and enhance competitiveness. Branch Director Nguyen Van Son said “Deeply aware of its roles to social and economic development of An Giang province, Agribank An Giang is committed to joining forces with all social and economic organisations to fully utilise local economic potentials and advantages to boost up socioeconomic development.”