In 2025, Agribank has been assigned a credit growth target of 13%, equivalent to VND 230,000 billion to be supplied to the market. Of this capital, Agribank has identified the majority to be lent to private sector customers.
Mr. Le Van Binh - director of Nga Hai Cooperative ( Ha Tinh province ) - is discussing with leaders of Agribank's Ha Tinh branch about the vineyard planted with capital borrowed from this bank - Photo: THAI BINH
Agribank accompanies the private sector .
Beginning his story about his more than 30-year journey in farming and fruit cultivation, Mr. Le Van Binh, director of Nga Hai Cooperative (Nghi Xuan, Ha Tinh), said it was truly arduous.
In 1993, a time of extreme hardship, he received a 100 million VND mortgage loan from Agribank's Ha Tinh branch to support his agricultural activities. At that time, 100 million VND was equivalent to two sacks of cash. He was the first customer to receive such a large loan in the area.
With the capital from Agribank, he used it to level the land and invest in livestock such as raising cows and goats, and later ducks and geese…
But then in 1998, thousands of goats started running headfirst into the cliffs, seemingly due to some unknown disease. Then, in 2010, their property was damaged, and they lost everything in a few days due to a flood.
"The ducks and geese were all swept away by the flood, nothing was left. Agricultural investment makes you rich for a long time, but it makes you poor very quickly. One dollar invested in agriculture, 1+1 often equals 0, meaning you lose everything when storms, floods, natural disasters, and epidemics strike."
"But the bank always encouraged me, allowed me to restructure my debt, and trusted me, continuing to support me. In 2017, Agribank lent me another 350 million VND to start over," he recounted, adding that without Agribank, he wouldn't have been able to start his business and build the empire he has today.
After more than 30 years as a customer of Agribank's Ha Tinh branch, Mr. Binh commented that this bank truly acts as a facilitator for the private economy, especially agricultural cooperatives, by understanding farmers better.
Currently, Nga Hai Cooperative has 100 hectares of agricultural land with a total investment of 30 billion VND. Each year, Nga Hai sells 2,500 pigs and 30,000 chickens, along with tens of tons of carp, catfish, and several tons of melons and grapes. The profit is approximately 1 billion VND per year.
Thanks to a loan from Agribank Nghe An, the products of Bien Quynh Company are now available in major supermarkets nationwide - Photo: THAI BINH
Meanwhile, Mr. Hoang Van Long, deputy director of Bien Quynh Joint Stock Company (Hoang Mai town - Nghe An province), shared that he started his business in 2018. The biggest difficulty was capital; the company's members had to pool their resources for a long time to raise 2 billion VND to build a factory and purchase equipment. The desire to bring local products to the national market seemed very difficult without the capital to import goods.
"And then the door opened when Bien Quynh accessed funding from Agribank. At that time, Mr. Ho Van Hao - director of Agribank's Hoang Mai branch, now deputy director of Agribank's Nghe An branch - encouraged and guided us in developing a plan for the company's development orientation. Immediately afterwards, Agribank disbursed a loan of 500 million VND," Mr. Long recalled.
After 7 years of partnership with Agribank, Bien Quynh's seafood products, including fish and shrimp, have now entered demanding supermarket chains such as BigC and Lotte. Furthermore, in May 2024, Bien Quynh's products were even exported to the US and Hong Kong.
Mr. Long informed that Bien Quynh is currently building a production expansion project with a 1.7-hectare factory and an investment capital of approximately 40 billion VND. To conduct business on a large scale, in a systematic and professional manner, private enterprises cannot do without the support of banks.
Of the approximately 230,000 billion VND that will be lent to the market, Agribank will focus on lending to the private sector - Photo: THAI BINH
Capital is concentrated in the private sector.
Ms. Phung Thi Binh, Deputy General Director of Agribank, noted that the private sector's contribution to the economy is significant. For Agribank, out of a total outstanding loan balance of over 1.7 trillion VND, 65% is lent to agriculture, rural areas, and farmers.
Of that amount, the majority of loans are to private households. In addition, Agribank has nearly 500,000 billion VND in outstanding loans to legal entities, of which 90% are to private enterprises. These figures show that Agribank prioritizes lending to the private sector.
To improve access to bank credit, Ms. Binh suggested that small and medium-sized enterprises (SMEs) need to have more transparent financial records and improved governance.
From the bank's perspective, Agribank consistently allocates resources to this target group. For example, in 2024, Agribank had 20 preferential credit programs for customers, mostly focused on the private sector.
"From the beginning of this year, we have implemented 9 preferential credit programs for all target groups, focusing on import and export, manufacturing and trading businesses, small and medium-sized enterprises, and individuals with consumer loans, business loans, etc."
"In 2025, Agribank has been assigned a credit growth target of 13% by the State Bank of Vietnam, equivalent to 230,000 billion VND to be supplied to the market. Of this capital, Agribank has identified that the majority will be lent to customers in the private sector," Ms. Binh informed.
Regarding lending interest rates, according to Ms. Binh, they have decreased by 1-2% compared to normal rates. Agribank is offering special incentives for the import-export sector and value chain lending, with interest rates reduced by 3% compared to the usual rate.
The bank is conducting surveys and will implement value chain lending, targeting each individual in the production process.
For seafood exports, preferential treatment is not limited to seafood export businesses; aquaculture farmers, suppliers of animal feed, and suppliers of machinery and equipment also receive reduced loan interest rates when customers form supply chain linkages.
Source: https://tuoitre.vn/agribank-ba-do-cho-kinh-te-tu-nhan-20250324142533758.htm
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