Agribank Sees Asset up 5.3 per cent at US$19.4 Bln in First Half
The state-owned Bank for Agriculture and Rural Development of Vietnam (Agribank), Vietnam&rsquos largest bank by assets, said its fist-half assets grew 5.3 per cent from the ning of this year to VND310.7 trillion ( US$19 billion).
In the conference on reviewing the first half operation July 20, Agribank reported its deposit growth of 3.9 per cent and outstanding loan growth of 4.8 per cent by June from early-2008.
Agribank will extract VND5.14 trillion ( US$321.3 million) for risk prevention reserves this year.
The bank said it will reduce loans for medium and long terms to 40 per cent from 45 per cent of total.
Agribank is developing a framework on building Agribank financial group in which the bank will privatize affiliates, with Agribank Securities Co. and Agribank Jewelry Co. in near term.
The bank will continue to give priority for ling agriculture sector, farmers and rural areas, with loans accounting for 70-75 per cent of total. (CAFEF)
Vietnamese
