Promoting the tradition of 30 years, in the year of 2018, Agribank has stepped firmly from its “internal strength”

TIN LIÊN QUAN
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	Agribank - Finance for Development of Agriculture and Rural Areas

Ready to move to catch up the trend of integration

The year of 2018 is the year marking 30 years of construction and growth of Agribank, also a significant year in the roadmap of implementing “Business strategy in 2016-2020 with a vision to 2030 and preparation for Agribank to be equitized when it is enough qualified under the direction of the Government.

In the restructuring phase, despite many difficulties, Agribank always secured sufficient capital with preferential interest rates for agriculture, farmers and rural areas. Agribank has implemented dozens of interest rate reduction programs to support clients. Every year, financial income is reduced by 3 trillion VNĐ due to preferential interest rate policy for "Tam Nong" subjects though there is no breakagefrom the Country and it is not allowed to receive refinance loans.

Attaching to agriculture, rural areas, in the period of international integration, climate change, besides the credit growth target, Agribank has actively implemented many agricultural restructuring activities. In particular, Agribank has always invested in high-tech agriculture, clean agriculture, actively worked together with Vietnam's agriculture sector to overcome major difficulties and challenges, which contributes importantly the agricultural sector reconstruction in order to increase added value and sustainable development.

According to Mr. Trinh Ngoc Khanh, Chairman of Agribank, Agribank's development objective is to continue its pioneering efforts and maintain its leading position, better competition and more active international integration to serve the economy as well as the market more efficiently and to grow up in every respect.

With the mission of leading state-owned commercial banks in Vietnam, Argribank plays a key role in investing in agriculture, farmers and rural area and contributes to socio-economic development in Vietnam and its vision grows in the way of  odern bank "Growth- safety - effectiveness - sustainablity", affirming the key role in credit investment for development of agriculture, farmers and rural areas; Agribank is aiming to become a diversified bank, a modern financial corporation, reaching the top of the list in the field of bank and ranking in the global financial system in the structure of cooperation and global development links.

Providing high quality banking and financial services

Implementing Strategic Business Plan for 2016-2020 with a vision to 2030 with the objective of enhancing competitiveness and diversifying business activities, Agribank develops and implements the Strategic Plan for Development of Products and Services in the period from 2016 to 2020, in which, it develops domestic payment services in the direction of increasing the number of open clients and using payment accounts at Agribank, expanding services, utilities and providing synchronous payment solutionsfor allclient objects.

Therefore, Agribank has always paid attention to increase the investment in system technology development and products – services to meet the increasing demand of clients. The domestic payment services of Agribank have gradually shifted the approach and products – services from traditional channels at the counter to electronic payment channels such as ATM, POS, CMS, Mobile Banking, Internet Banking. As a result, Agribank's domestic payment services have grown in both quantity and sales over the years. The network of payment is constantly expanding, the scale of using clients and payment service fees are constantly increasing, maintaining the payment system operating stably. Agribank has also researched and promulgated procedures and guiding documents of implementation of the practice in line with the actual practice. The average payment service ratio accounts for 40% of the total service fee contributing to the total revenue of Agribank.

With a large network of branches, including 2,300 branches and transaction offices nationwide and modern, invested and upgraded technology platform, Agribank's domestic transfering service has a remarkable advantage, bringing in large service revenues and maintaining growth over the years. In addition, in order to provide payment services of development of facilities and services for clients, expanding non-cash payment, Agribank has implemented the inter-bank payment system (IBPS). This is an modernonline payment system which is built according to international standards and is considered as the fastest payment channel in Vietnam at present with the time of making a payment order just happen not more than 10 seconds. This service has grown strongly in terms of number of items and payment revenue, the number of transactions in 2016 increased nearly 4 times as compared to the year of 2010.

In addition, Agribank develops bill payment connecting products for institutional clients such as: Microfinance Institutions (HD SAIGON, VPFC ...), universities, Electricity Corporation, Clean Water, ... In the period 2010 - 2016, bill payment services have the number of transactions as well as transaction value are growing. So far, Agribank has provided bill payment services for 752 service providers; Payment channels are extended across all payment channels.

Besides the traditional transaction channel at the counter, Agribank has continuously expanded the distribution channel of domestic payment services such as performing payment services including money transfer, bill payment, budget collection, etc as well as onmNew e-payment distribution channels such as ATM / POS, Mobile Banking, E-Mobile Banking, Client Connectivity (CMS) for businesses, Internet Banking, thereby contributing to increase the bank's income, maintain stablity, increase market share of clients and cross-selling products.

CMS service provides a secure, efficient and easy-to-use remote banking solution that saves time and transaction costs, goes up revenue and cross-selling capabilities. The service meets the requirements of clients with regular transactions, large clients, financial institutions in the relationship with Agribank, especially transfering, money, payroll through the bank at the unit as well as brings benefits for clients.

With the strength of its network and modern technology platform, online transaction ability, Agribank is able to assist its clients in capital management with centralized capital management services. This service helps clients control the collection and spending of the units daily, which is concentrated from the member units on the parent company. Through this, clients can monitor and exploit information about financial transactions in the whole business. Currently, the service has been deployed for big corporations such as VNPT, PetroVietnam Corporation, Baoviet Insurance Corporation, Vietnam Social Insurance, Corporation of Vietnam General Post Office, Electric Power Company, ...

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