Agribank attended bilateral meetings 2019

08/10/2019

On September 16 and 17, 2019, the Chairman of the Board of Directors of Agribank attended the Bilateral Meeting between the State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC); the Bilateral Meeting between The State Bank of Vietnam and the Bank of the Lao People's Democratic Republic (Lao PDR).

Attending two bilateral meetings, on Vietnam side were the Governor of the State Bank of Vietnam Le Minh Hung, Deputy Governor of the State Bank of Vietnam Dao Minh Tu, and representatives of Vietnam Embassy in Cambodia/Laos, representative leaders of a number of General Departments, Departments, and Units of the State Bank of Vietnam. Attending the Bilateral Meeting in Cambodia, on the Cambodian side were the Governor of the National Bank of Cambodia, Deputy Governor Sum Sannisith and the leaders of the relevant units of the National Bank of Cambodia. Attending the Bilateral Meeting in Laos, on the Lao side were Governor of the Bank for the Lao People's Democratic Republic, Deputy Governor Vathana Dalaloy, and representatives from Departments of the Bank of the Lao People's Democratic Republic.

At the dialogue, representatives of Vietnam’s commercial banks presented their reports on banking performance and made recommendations to the Governors. The Governors of the National Bank of Cambodia and the Bank of the Lao People's Democratic Republic highly appreciated the activities of Vietnam’s commercial banks in Cambodia and Laos over the past years which contributed to promoting cooperation in the banking sector, thereby promoting trade and investment relations among countries. The Governor of the Bank of Cambodia/Laos directly responded to the recommendations and made commitment to thoroughly resolve the recommendations of Vietnam’s commercial banks in the spirit of creating the most favorable conditions for Vietnam’s commercial banks to operate effectively in Cambodia and Laos. Governor of the State Bank of Vietnam Le Minh Hung affirmed that the State Bank of Vietnam would create conditions for Vietnam’s commercial banks to make long-term investments and comply with the applicable laws for the sustainable development of the banking system and for creating a strong relationship among the three countries of Cambodia - Laos - Vietnam.

Bilateral meeting 2019 between the State Bank of Vietnam and the National Bank of Cambodia

On this occasion, Cambodian Deputy Prime Minister Yim Chaly worked with the Agribank Delegation and awarded the honorary Moha Serey Waddh award of the Kingdom of Cambodia to Agribank's Chairman of the Board of Directors for Agribank’s marked contributions to Cambodia over the years. Chairman of the Board of Directors of Agribank expressed his wish that the Kingdom of Cambodia continue to support Agribank's Cambodian branch in its activities in Cambodia.

Cambodian Deputy Prime Minister Yim Chaly presents the honorary award to Agribank Chairman

During the first eight months of 2019, Agribank's business operations in Cambodia continued to be profitable (the difference between revenue and expenditure was USD 871,000, an increase of 29.17% over the same period last year, the bad debt ratio was low (0.09% of the total outstanding loans), high income from bank lending. Besides, the Branch has paid attention to social responsibility activities in Cambodia. Particularly in 2018, the branch supported the construction of a school in Kampong Thum worth USD 120,000 and the branch staff actively contributed to support overseas Vietnamese living in Cambodia who were affected by fire and flood.
 
In Lao market, Agribank has established correspondent banking relationship, account relationship and especially continues to be the only bank providing Vietnam - Laos border payment services. Border payment transactions are mostly conducted via the cross-border payment system on the Internet which was developed and transferred by Agribank to the banks in Laos. The application of a modern payment system has further strengthened the superiority for Agribank's Vietnam - Laos border payment services, supporting transactions for customers in a safe and cost-effective manner. From the success of the implementation of the Agribank restructuring project, Agribank has sent specialists in collaboration with the SBV to provide support to the  Bank of the Lao PDR in developing the restructuring project for the Agricultural Promotion Bank (APB) of Laos.

Huong Nguyen

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