In Briefs (09-10-2008) Agribank lowers lending rate HA NOI — The Bank for Agriculture and Rural Development of Viet Nam (Agribank) will offer an annual lending interest rate of 17.8 per cent to small- and medium-sized enterprises (SMEs) operating in export and manufacturing sectors. A lending rate of 17.5 per cent per year will be given to agricultural and fisheries enterprises. The record-low rates will take effect on October 10 at over 2,200 Agribank branches nation-wide. Current lending rates commonly charged at commercial banks are between 18-19 per cent per annum. VN-Russia bank given approval Ha Noi — The Governor of the State Bank of Viet Nam (SBV) has given the nod to the Viet Nam-Russia Joint Venture Bank (VRB) to open a representative office in Russia's capital Moscow. The representative office will work to set up an affiliate of VRB in Russia. The SBV Governor's decision also requires the VRB to strictly abide by regulations on overseas investment during its … [Read more...] about Agribank lowers lending rate
Agribank
VAMC will soon buy bad debts at Agribank
VAMC will soon buy bad debts at Agribank Hong Phuc and Thuy Trieu Bad debts of ten banks surge By Hong Phuc and Thuy Trieu - The Saigon Times Daily HCMC – Vietnam Bank for Agriculture and Rural Development (Agribank) will be the first and biggest customer of Vietnam Asset Management Company (VAMC) as it is now in talks to sell bad debts totaling more than VND10 trillion to the company, a source said. Bad debt at Agribank reportedly reached a two-digit rate as of the end of this year’s first quarter, said the source from VAMC, who asked not to be named. The bad debt trading board of VAMC has met representatives of six to seven lenders over the past two weeks. The lenders are all joint stock banks wishing to study, make tie-ups and exchange information with VAMC, according to the source. Other State-owned lenders have also contacted VAMC to discuss a sale of bad debts. They have asked credit and debt management officers to make preparations to work with VAMC but both … [Read more...] about VAMC will soon buy bad debts at Agribank
Agribank’s pre-tax profit touches US$220 million in 2017
Vietnam Bank for Agriculture and Rural Development (Agribank) reported a pre-tax profit of more than VND5 trillion (US$220 million) in 2017, posting an increase of 20 per cent against the previous year.The bank announced that its total assets reached some VND1.2 quadrillion, a year-on-year increase of 15 per cent. The capital mobilised was relatively high at VND1.1 quadrillion, rising by 15 per cent from the previous year’s figure.The bank also reported outstanding loans amounting to more than VND900 trillion, 17.6 per cent higher compared to 2016. Its loans have primarily focused on agricultural production and the farming sector, aiming to support rural areas in Viet Nam.According to Agribank’s chairman Trinh Ngoc Khanh, the bank had achieved all business targets assigned by the central bank in 2017.Last year, Agribank implemented three preferential interest rate loan programmes, supporting over 2,000 corporate customers in high-tech agriculture, with a total amount of … [Read more...] about Agribank’s pre-tax profit touches US$220 million in 2017
Agribank to loan $240m to coffee sector
DAK LAK — The Bank of Agriculture and Rural Development of Viet Nam (Agribank) plans to provide about VND5 trillion (US$240 million) in loans to the domestic coffee sector. It is hoped that the extra funds would help coffee businesses purchase raw material for coffee production and export during the 2011-12 harvest starting next month. The announcement was made at a meeting held by Agribank in Buon Ma Thuot City, Dak Lak Province, on Tuesday, aimed at finding adequate solutions to satisfy capital demand for thirsty coffee businesses. At the meeting, Kieu Trong Tuyen, deputy general director of Agribank, said that out of the total loans, around VND4.672 trillion (US$225 million) would be short-term, VND41 billion ($2 million) medium-term and VND265 billion ($12.7 million) aimed at reducing post harvest losses in agricultural and seafood products. He said that his bank would supply direct loans to companies collecting, processing and selling coffee products on both domestic … [Read more...] about Agribank to loan $240m to coffee sector
National team from Capital SH Bank Cup to Agribank Cup
The Striker Anh Duc (red) was one of the best players at the Capital SH Bank Cup and is expected to star at the Agribank Cup. (Photo:VFF) Vietnam national football team are preparing for one of the major tournaments, Agribank Cup, taking place in Hanoi from October 25-29. Despite being an invitational tournament, it is an opportunity for Vietnamese players to prepare for more important events in 2007, such as the Southeast Asian championship and Asian Cup finals. The Vietnamese team, featured mainly with young players in preparation for the forthcoming Asian Games in Doha, Qatar, were called up for their first training session on September 25. They then had an eight day training tour in Japan with two friendlies against local teams, in which the Vietnamese side won, 6-3 over Sagawa Kyubin Tokyo and 3-0 over Sony Senday. Returning from Japan, the team joined the Capital SH Bank Cup with junior teams from Malaysia and Thailand. It was no surprise when the Vietnamese team won the … [Read more...] about National team from Capital SH Bank Cup to Agribank Cup