Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
agribank.docx

agribank.docx

Ratings: (0)|Views: 4 |Likes:
Published by Minh Ngoc

More info:

Published by: Minh Ngoc on May 06, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOCX, PDF, TXT or read online from Scribd
See more
See less

06/26/2013

pdf

text

original

 
History:
In 1988, the Agricultural Development Bank of Vietnam was established by Decree No.53/HDBT dated 26 March, 1988 of the Council of Ministers (now the Government) withthe reform of the financial system and the introduction of commercial banks in Vietnam.The Agricultural Development Bank of Vietnam was created out of the State Bank of Vietnam (SBV): from all provincial branches of SBV, Agriculture Credit Division, fundsat different provincial/district branches of SBV; specifically, Agribank was formerly theAgriculture Credit Department of SBV with personnel from Commercial CreditDepartment, Bank for Investment and Construction, Department of Accounting, and anumber of functional units.On 14 November, 1990, President of the Council of Ministers (now the Prime Minister)signed Decision No. 400/CT on establishment of the Vietnam Bank for Agriculture(VBA) to replace the Agricultural Development Bank of Vietnam. The Vietnam Bank for Agriculture was by law a legal entity having universal banking functions with major focus on agricultural sectors and rural areas, and responsible for its own finance,operations.On 1 March, 1991, the Governor of the State Bank of Vietnam issued Decision No.18/NH-QD on establishment of representative office of Vietnam Bank for Agriculture inHo Chi Minh city, and on 24 June, 1994, the Governor issued document no. 439/CV-TCCB with the approval to set up representative office of Agribank in the Central regionin Quy Nhon city
 – 
Binh Dinh province.On 22 December, 1992, the Governor of the State Bank of Viet Nam issued Decision No. 603/NH-QD on the establishment of VBA provincial branches. As described in theDecision, Agribank has three Operations Centers, i.e., No I, II, III in Hanoi, Ho Chi MinhCity Representative Office and the Central Region Representative respectively. Besides,
 
VBA had 43 branches at provincial/city level and 475 branches at district/communelevel.In 1993, VBA promulgated emulation and commendation regulations in all positions andtasks to create standards for individuals and functional units to strive for excellent performance. In the same year, VBA also successfully organized a conference at nationallevel with the participation of the best District Branch Managers all over the country.On 30 July, 1994, by Decision No.160/QD-NHN9, The Governor of the State Bank of Vietnam approved new innovative management system model of the Agribank, on that basis, the General Director of VBA specified in writing in document No.927/TCCB/VBA dated 16 August, 1994 which detailed as: the Vietnam Bank for Agriculture had two levels: Advisory level and Operational level. This was truly a turning point in the organizational structure of VBA and set the foundation for businessoperations of the existing Vietnam Bank for Agriculture and Rural Development.On March 7
th
, 1994 pursuant to the Decree No 90/TTg of the Prime Minister, VBA began to be organized into a State-owned Corporation with the organizational structureconsisting the Board of Directors, General Director, assisting apparatus includingapparatus for internal control, subsidiaries including dependent accounting businessunits, independent accounting business units, and executive and non-executive functionswere clearly separated, in which Chairman of Board of Directors and General Director were two separate roles.Based on good results of the Preferential Loan Funds for poor households, VBA maderecommendations to set up the Bank for the poor, and the idea was supported by theGovernment, the State Bank, and the public at large. On 31 August, 1995, the PrimeMinister issued Decision No. 525/TTg on the establishment of the Bank for the poor.The Vietnam Bank for the Poor (VBP) was a credit institution operating nationwide,having legal status, owned charter capital, assets, and balance sheet, legal seal,
 
headquartered in Hanoi. Initial operating capital was VND 400 billion of which theVietnam Bank for Agriculture contributed VND 200 billion, Bank for Foreign Trade of Vietnam contributed VND 100 billion and the State Bank of Vietnam contributed VND100 billion. The Vietnam Bank for the Poor was set up to eliminate hunger and alleviate poverty, operating not for profit but for capital preservation, capital development and costrecovery. The Bank for the Poor was actually a thriving operational division of theVietnam Bank for Agriculture. As of September 2002, total outstanding loans of theVietnam Bank for the Poor reached VND 6,694 billion, gaining high prestige both athome and abroad, appreciated by international organizations and highly supported by the public. The Bank for the Poor was renamed Vietnam Bank for Social Policies (VBSP) inMarch 2003. It was the Vietnam Bank for Agriculture that proposed the establishment,the implementation and the support for the VBP which was the precursor for the VBSP.This is a great pride of the Vietnam Bank for Agriculture and Rural Development ineconomic development and poverty reduction of the country.On 15 November, 1996, authorized by the Prime Minister, the Governor of the StateBank of Vietnam issued Decision No. 280/QD-NHNN to rename the Vietnam Bank for Agriculture into Vietnam Bank for Agriculture and Rural Development (AGRIBANK).Under the new name, Agribank is allowed to carry out commercial banking activities butwith a focus on investment for agricultural sector and rural areas by providing mediumand long-term loans for infrastructure development, particularly agriculture, fishery,forestry, contributing to the cause of industrialization and modernization of agricultureand rural development.In 2001, Agribank entered into a restructuring phase. The Restructuring Plan includesdebt restructuring, strengthening the bank financial capacity, improving asset quality, andcomplying with international accounting international standards, commercialization,organizational and operational remodeling according to International best practice. By theend of 2001, Agribank had become the leading commercial bank in Vietnam, with the

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->