Agribank 30 years: An outstanding progress in banking product & service development
(Updated at 18:8, 2/4/2018)

For 30 years of renovation with the country, Vietnam Bank for Agriculture and Rural Development (Agribank) has been continually striving to fulfill the mission  of a commercial bank for providing credit and financial services and facilities to economy, especially serving agricultural and rural areas. With outstanding progress in product and service development, Agribank has made a positive contribution to the development of the non-cash payment market in Vietnam.

Established on March 26, 1988, being the only 100% State-owned commercial bank for serving agriculture and rural areas, Agribank performs its role as a powerful tool of the Party, Government and state bank in implementing the monetary policy and fund for agriculture and rural areas; Contributing to macroeconomic stability, curbing inflation, supporting to economic growth, especially economic development in the region. At the same time, Agribank also fulfilled its responsibilities as a commercial bank as contributing to the state budget.

Being aware of the importance of the services and products for a bank, this makes the atraction, and higher competitiveness for the bank, as well as to catch up with the trend of modern banking operations, Agribank has gradually completed and diversified products and services based on the requirements of customers and market.  Initially, Agribank focused on services development such as: payment, deposit, loan and products and services.  In 2008,  Agribank marked a turning point by providing a series of utility products and services based on high - tech applications such as: a place for deposit and all place for withdrawal; Managing cash flow of enterprises through the banking system, payment connection with large corporations; A range of banking services applied for mobile phone (mobile banking) such as: account balance inquiry, latest transaction statement, automatic notification of balance change by SMS to customer's mobile phone, prepaid mobile subscribers from customer deposit account opened at Agribank (VnTopup Agribank), money transfer by SMS (A Transfer), money input for "VnMart e-wallet", and bill payment by SMS (ApayBill), etc ...

By the end of  2010, Agribank has provided nearly 190 products and services, and  becoming the leading bank for payment products, with high flow of online payment transaction. Also in 2010, Agribank became the No.1 bank  for  amount of  issued cards in VN ... By 31/12/2017, the total number of Agribank cards issued still validated  over 11 million cards. So far, Agribank has maintained the position in Top3 leading banks in the card market.

By 31/12/2017, over 12 million customers deposited at Agribank, 16 million customers using Agribank’s products and services, nearly 4 million customers of households and individuals were provided loans by Agribank, accounting for 69, 1% of outstanding loans to the economy, and outstanding loans for businesses accounted for approximately 30.9% of loans to the economy, that affirms the trust of customers to Agribank. 

On the way to become the best retail bank for agricultural sector, in the period 2016-2020, Agribank determined continuously raising capital, providing credit for the economy in association with development, diversification on products and services thats meet the diversified demands of customers, continuously playing a key role in investment and support to the financial and credit services in areas of agriculture, rural and farmer. In addition, Agribank has developed and implemented the project on service business in the period of 2016-2020; Promoting the products and services, as well as to connect with other supliers, Bringing loans to the farmers at most convenience with low cost, Agribank provides lends by mobile transaction units and “bank on wheels” by specialized vans.

After 30 years of development, Agribank has made an outstanding development of products and services.  Now, Agribank has more than 200 products and services, and most branded by Agribank, in terms of Mobilization, Credit, Domestic Payment, International Payment, Cards, Mobile Banking, ATM, POS, Internet Banking, Mobile Banking, Contact Center, Core Banking, etc ... Now, Agribank is the pioneer in non-cash payment project in Vietnam, and providing modern banking products and services to customers in rural and remote areas.

 Phuong Anh

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