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Vietnam’s Agribank wins many local prestigious prizes

Vietnam’s Agribank wins many local prestigious prizes

Thursday, March 23, 2023, 18:04 GMT+7
Vietnam’s Agribank wins many local prestigious prizes
Agribank is proud to win the Vietnam National Brand award in 2022.

Over the past 35 years of development, the Vietnam Bank for Agriculture and Rural Development, better known as Agribank, always proves its position and role as a leading commercial bank in Vietnam.

It has pioneered monetary policies, contributing to stabilizing the macro-economy, curbing inflation and supporting the country’s economic growth.

The bank has cemented its key role in developing the agriculture sector and rural areas and offering credit and services to serve the country’s socio-economic development.

Agribank was proud to receive the Vietnam National Brand award for the third consecutive year in 2022 and was among the top 10 Vietnamese strong banking and financial brands the same year.

The lender has obtained impressive achievements in digital and green transformation and made substantial contributions to community development.

 

Despite the negative impact of the COVID-19 pandemic, Agribank, with its initiative and flexibility, has employed multiple solutions to support pandemic-hit clients and the country’s socio-economic recovery program.

The bank has pioneered a relief package with a two-percent interest rate cut for loans from the state budget for enterprises, cooperatives and household businesses.

With its ceaseless efforts, Agribank has gained customers’ confidence and international economic experts’ appreciation.

The “Top 10 Most Prestigious Commercial Banks in Vietnam 2022” and “Top 10 Vietnamese Gold Star 2021” awards have demonstrated the bank’s brand value in the local banking system and its prestige to the community and society.

Since 2016, Agribank has ranked among the top 10 largest corporate income tax-payers in Vietnam.

According to the VNR500 ranking on the 500 largest enterprises in Vietnam in 2022, Agribank was placed at the eighth position.

This was the 13th time Agribank has been ranked in the top 10 of VNR500 and held the first position among commercial banks in Vietnam.

Gaining international organizations’ appreciation

Brand Finance highly appreciated Agribank for making great strides in brand value last year.

In the 2022 Brand Finance Banking 500 ranking, a list of the 500 most valuable banking brands in the world, Agribank took the 157th place, up 16 places year on year.

This was the highest ranking among the 11 Vietnamese commercial banks listed in the ranking in 2022.

Brand Finance also placed Agribank at the sixth position out of the 50 most valuable brands in Vietnam in 2022 as it maintained a stable growth, at 22 percent in 2022, and the position of the most valuable bank in Vietnam.

Agribank was valued at US$1.412 billion last year with a brand strength index of 75.4 and an AA+ rating.

The Agribank brand has improved as credit rating agency Moody’s upgraded the long-term local and foreign currency deposit and issuer ratings of Agribank from Ba3 to Ba2 with a stable outlook.

In addition, the bank was listed in the top 10 Vietnamese banks in The Banker’s Top 1000 World Banks.

Agribank’s international payment services have been repeatedly honored with prestigious prizes awarded by the world’s leading banks, such as the “Straight Through Processing (STP) Excellence Award 2021” from the Bank of New York Mellon and the “2021 Elite Quality Recognition Award” from JP Morgan.

To win these awards, Agribank had met strict criteria on the international payment service quality.

Agribank’s Straight Through Processing rate is always over 99 percent, proving its world-class services and the confidence of large customers and partners in the bank.

Digital products honored

Agribank’s digital products have been highly appreciated by local and international organizations.

Its real-time low-value payment system was honored as an “Outstanding digital technology product” and its centralized payment infrastructure system was honored in the category of “Outstanding Digital Transformation Business” of the 2022 Vietnam Digital Transformation Awards.

Agribank has recently launched Agribank Digital, which provides banking services and enables customers to access services around the clock.

Agribank has also ceaselessly striven to invest in, renovate, develop and improve products and services to serve customers.

Thanks to pre-eminent features, Agribank’s Loc Viet card won the Sao Khue Award in 2022.

Agribank receives the “Leadership in Debit Card Growth” award.
Agribank receives the “Leadership in Debit Card Growth” award.

Moreover, Agribank’s Tam Nong cards have benefited residents in rural areas and contributed to boosting the digital transformation. 

The bank was voted as a bank with creative products and services in 2021.

Furthermore, Agribank has repeatedly been recognized and honored by international partners for card services.

In early 2022, the bank won two awards from JCB for “Leadership in Payment Volume 2021” and “Leadership in Debit Payment Volume Growth 2021”.

It also received three other prizes for its cards, including “Leadership in Merchant Sales Volume 2022”, “Leadership in Debit Card Growth” and one of the banks with the highest levels of data compliance awarded by Mastercard.

Agribank was also honored with the “Leadership in Contactless Penetration Growth” by international card organization Visa.

Bank for community

During its 35 years of development, besides business missions, Agribank has carried out many meaningful and humanitarian social programs to ensure social welfare and community development. 

Agribank annually spends hundreds of billions of Vietnam dong (VN1 billion = $42,590) conducting social welfare programs, focusing on poverty alleviation, education, healthcare, rural transport, and the support for poor people, those living in remote areas, ethnic minority groups, among others.

In 2021, Agribank launched a long-term sponsorship program across the country to provide prompt, practical and quick support nationwide, contributing to fight the COVID-19 pandemic.

With its positive contributions, Agribank was honored as a typical bank for the community in 2021.

Agribank was honored as a bank for the community in 2021.
Agribank was honored as a bank for the community in 2021.

Having pioneered in corporate social responsibility activities over the past many years, Agribank has been recognized as an enterprise with awesome responsibility for social welfare and community growth and a bank for the community by the Vietnamese Party and state, as well as a bank with excellent corporate social responsibility practices in Southeast Asia by Asian Banking & Finance.

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