Agribank and ABBank Team Up

The Viet Nam Bank for Agriculture and Rural Development (Agribank) and the An Binh Commercial Joint Stock Bank (ABBank) have signed an agreement covering project financing, domestic and international payments, credit, commercial sponsorship, and forex and stock trading.

Among the many items in the deal signed on Thursday, Agribank will provide capital to ABBank to finance major electricity projects and manage the banking transactions of power companies through Agribank’s network of over 2,000 branches.

Agribank chairman Do Tat Ngoc said his bank was looking to invest directly in other financial institutions and could well decide to purchase a strategic stake in ABBank in the near future.

 

Reported by T.M – Translated by Thuy Hang

Other news