Agribank’s pre-tax profit touches US$220 million in 2017

Created 11 January 2018
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Vietnam Bank for Agriculture and Rural Development (Agribank) reported a pre-tax profit of more than VNĐ5 trillion (US$220 million) in 2017, posting an increase of 20 per cent against the previous year.

 

Agribank reported a pre-tax profit of more than VNĐ5 trillion (US$220 million) in 2017. — Photo antv

HÀ NỘI Vietnam Bank for Agriculture and Rural Development (Agribank) reported a pre-tax profit of more than VNĐ5 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 VNĐ1.2 quadrillion, a year-on-year increase of 15 per cent. The capital mobilised was relatively high at VNĐ1.1 quadrillion, rising by 15 per cent from the previous year’s figure.

The bank also reported outstanding loans amounting to more than VNĐ900 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 Việt Nam.

According to Agribank’s chairman Trịnh Ngọc Khánh, 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 VNĐ600 billion, said Khánh.

In October, the bank had also signed a co-operation agreement with the Việt Nam Asset Management Company to speeding up bad debt settlement. Accordingly, an amount of more than VNĐ23 billion of non-performing loans was resolved under Resolution No. 42 of the National Assembly. VNS

 

Source: VNN

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