All shares of the Agribank Gold Joint Stock Corporation (AJC) offered by the Vietnam Agriculture and Rural Development Bank (Agribank) at the December 15 auction were sold to three domestic investors, the Ha Noi Stock Exchange announced.The stock exchange said the three investors bought more than 12.62 million AJC shares, equivalent to 61.24 per cent of charter capital, at the average bidding price of VND15,044 (66 US cents) per share.The price is 8.2 per cent higher than the initial price of VND13,900 per share offered by Agribank, helping the bank earn VND189.79 billion ($8.4 million) from the auction.Earlier, 13 investors registered to buy AJC shares.The bank, which was set up in 1994, earned revenue of VND1.2 trillion in 2016, a decline of 22 per cent compared with 2015. In the first six months of the year, AJC posted revenue of VND503 billion and after-tax profit of VND1.3 billion. — VNS … [Read more...] about Agribank successfully sells shares at AJC
Agribank
Agribank, NongHyup Bank in money transfer deal
Agribank, NongHyup Bank in money transfer deal Phuong Thao By Phuong Thao - The Saigon Times Daily HCMC – Agribank and NongHyup Bank on Tuesday struck a cooperation deal to provide money transfer service for Vietnamese guest workers in South Korea. In addition to the remittance service, the two sides will be joining hands to offer financial support for Vietnamese employees through the employment permit system (EPS). EPS allows employers who cannot hire native workers to legally employ foreigners. This system of the Korean government is designed to monitor foreign guest workers in Korea. To subscribe to the service, Vietnamese workers should open an account at NongHyup Bank and maintain it until they have settled all their loans owed to Agribank. Main customers of Agribank and NongHyup Bank are in the agriculture sector. … [Read more...] about Agribank, NongHyup Bank in money transfer deal
Depositors demonstrates against Agribank
Recently there have been demonstration outside of an Agribank branch in HCM City because they have yet to compensate for deposits which were stolen by the former director. Demonstration on September 22The former director of one branch of the Vietnam Bank for Agriculture and Rural Development (Agribank) has been arrested, and the bank has yet to compensate for misappropriated funds from depositors. … [Read more...] about Depositors demonstrates against Agribank
Agribank and Bao Viet sign co-operation agreement
The Bank for Agriculture and Rural Development of Viet Nam (Agribank) and Bao Viet Holdings signed a co-operation agreement on Wednesday.Under the co-operation agreement, Agribank and Bao Viet have committed to prioritise the use of products and services of each other and exploit the strengths and potential of each party to raise efficiency and competitiveness for deeper and further integration.Tiet Van Thanh, general director of Agribank, said through the co-operation with Bao Viet, a leading financial-insurance group in Viet Nam, Agribank hopes that it will successfully implement the Party’s resolutions and the Government’s policy on promoting the leading role of State corporations and enterprises in supporting each other to develop sustainably, reach out to the world and contribute to the socio-economic development of the country.At the signing ceremony, Nguyen Quang Phi, Bao Viet general director, said Bao Viet and Agribank have many similarities in size, network and … [Read more...] about Agribank and Bao Viet sign co-operation agreement
Trial opens in Agribank branch corruption case
HCM CITY — The People’s Court in HCM City on Tuesday began first hearing in the property embezzlement and bribery case involving officials of the Bến Thành branch of the Bank for Agriculture and Rural Development of Việt Nam (Agribank). Twelve defendants have pleaded guilty to misappropriation of property, taking and receiving bribes, and violating lending regulations. Five of these are former officials and employees of Agribank Bến Thành. According to the indictment issued by the Supreme People’s Procuracy, former director of Agribank Bến Thành, Nguyễn Thị Hoàng Oanh, is being prosecuted for three offences: property embezzlement, receiving bribes and violating lending regulations. Specifically, Oanh used the names of eight people, created dossiers and completed loan procedures to appropriate 2,660 taels of SJC gold worth VNĐ47.2 billion (US$2 million) from the branch. Oanh said she spent 2,250 gold taels to … [Read more...] about Trial opens in Agribank branch corruption case