Agribank - A mark of innovation in Party work

2023 marked 35 years of establishment and development, and was also the first year Agribank implemented the bank-wide Party Committee model. With high political determination and efforts to overcome difficulties, the Party Committee, Board of Members, and Executive Board of Agribank have always been united, leading the Party Committee and the entire system to achieve many important results.

Agribank receives the First Class Labor Medal.

This is a crucial prerequisite, contributing decisively to the implementation of the targets and tasks of the Agribank Party Congress Resolution for the 2020-2025 term, the Resolution of the 3rd Party Congress of the Central Enterprise Bloc, and the Resolution of the 13th National Party Congress. From there, it further affirms the position and role of Vietnam's leading commercial bank in the agricultural and rural finance market and as one of the enterprises making significant contributions to the State budget. Affirming its role as the political core and providing comprehensive, consistent leadership, the Agribank Party Committee has led, directed, and organized the thorough understanding and effective implementation of programs and plans to implement the Party Congress Resolutions at all levels, as well as the policies, directives, resolutions, and guidelines of the Central Committee, the Party Committee of the Bloc, and the State Bank of Vietnam. It has concretized these into action programs and plans linked to the implementation and completion of the targets and tasks of the Party Congress Resolutions; promptly absorbing, updating, and supplementing new content and tasks as directed by the Central Committee, the Party Committee of the Bloc, and the Party Committee of the State Bank of Vietnam. The Agribank Party Committee seriously carries out Party building tasks with the functions and roles of a grassroots-level Party organization, consolidating leadership methods according to the model of a system-wide Party Committee implementing Regulation No. 60-QĐ/TW of the Secretariat of the Central Committee. The Party Committee of Agribank has led political tasks with a focus on evaluating and summarizing major plans and projects of Agribank for the period 2016-2020, and developing and implementing a new strategy. The Party Committee has achieved significant accomplishments by prioritizing Party building, innovating and improving the quality and methods of organization and implementation with a leading, direct, and comprehensive leadership approach. Party building work continues to be strengthened, and the pioneering leadership and guidance role of the Party committee is clearly demonstrated, serving as the core in implementing the Party and State's guidelines, policies, and successfully carrying out political tasks. The Agribank Party Committee has always paid close attention to the education and improvement of political theory awareness, focusing on studying and following the thoughts, ethics, and style of Ho Chi Minh; innovating and strengthening political theory training for cadres, Party members, and employees; correctly identifying manifestations and risks; and proposing solutions to combat and prevent the decline in political ideology, ethics, and lifestyle, as well as manifestations of "self-evolution" and "self-transformation" within the Party. The Party Committee has focused on directing the implementation throughout the Party Committee of Directive No. 05-CT/TW dated May 15, 2016, of the Politburo, and the Party's regulations on the responsibility of cadres and Party members to set an example, promoting the exemplary role and ensuring that each Party committee member and head of Party committees and organizations matches their words in building, cultivating, and refining their ethics. Strictly adhering to labor regulations, corporate culture, professional ethical standards, and codes of conduct, effectively implementing anti-corruption and anti-waste measures... improving the quality of human resources to be both politically sound and professionally competent, linked with political and ideological education, cultivating ethics and professional skills, and building Agribank's culture. With a spirit of unity and overcoming difficulties, the entire Agribank Party Committee always upholds the spirit of proactiveness and creativity, effectively implementing and successfully completing the targets and tasks set forth in the Resolution of the 10th Party Congress for the 2020-2025 term, making an important contribution to the implementation of the Resolution of the 3rd Party Congress of the Central Enterprise Bloc and the Resolution of the 13th National Party Congress. To date, the Agribank Party Committee has completed and exceeded the targets for Party building work as planned, achieving 11 out of 11 groups of targets for leadership in implementing political tasks for the entire 2020-2025 term. In particular, in 2023, operating in the context of a challenging economic environment following the impact of the Covid-19 pandemic, the Agribank Party Committee comprehensively led and directed all aspects of work, focusing all resources to effectively implement key tasks and solutions, promptly implementing the orientations of the Party, Government, the Party Committee of the Central Enterprise Bloc, and the State Bank of Vietnam with practical solutions, ensuring stable, safe, and efficient operations, and enhancing the capacity to forecast, analyze, and assess the actual situation in order to provide appropriate and timely guidance. Maintaining its leading role in the financial market: Closely following the directives of the Party Committee of the Central Enterprise Bloc, the State Bank of Vietnam, and the actual situation, Agribank aims to become a modern bank, meeting international standards, enhancing its competitiveness, and maintaining its leading role in the financial market in the agricultural and rural sectors. With the direct and close leadership and guidance of the Party Committee, from 2020 to the present, Agribank has consistently achieved and exceeded the targets assigned by the State Bank of Vietnam; Business efficiency, brand reputation, and the income of nearly 40,000 employees have improved significantly, labor productivity has increased, and the bank continues to maintain its position as the largest bank in terms of total assets, outstanding loans, capital, number of customers, network system, and number of employees. It plays a leading role in serving the Party and Government's "Three Rural Issues" policy, contributing to national defense and security, effectively carrying out social welfare activities, overcoming the consequences of natural disasters, and preparing internal resources for privatization. In 2023, to promptly address difficulties and increase access to capital for people and businesses, Agribank continued to effectively implement seven policy credit programs, national target programs, and the policy of restructuring loan repayment terms according to Circular 02 of the State Bank of Vietnam. It also implemented 13 preferential credit programs with a total value of VND 200 trillion, and adjusted lending interest rates eight times to directly support target customers. In the context of slow credit growth, Agribank flexibly implemented capital mobilization, managed interest rates and capital allocation fees appropriately, and reduced operating costs to create conditions for lowering lending interest rates to support customers. With stable capital mobilization and the successful issuance of VND 10,000 billion in bonds to the public, Agribank always has sufficient capital to meet the needs of people and businesses, ensuring liquidity and operational safety ratios. Agribank continues to focus on developing a diverse range of modern products and services, applying high technology, and further transforming its multi-service business model towards a professional, modern, and top-quality banking model with the motto "Customer-centric"; pioneering the digital transformation alongside the banking industry; actively developing cashless payments, the National Comprehensive Financial Strategy, and collaborating with units in the Central Enterprise Bloc to enhance the reputation and position of Vietnamese businesses, effectively implementing the "Vietnamese people prioritize using Vietnamese goods" campaign associated with the Domestic Market Development Project; and continuing to be one of the enterprises making the largest contributions to the State budget. With the concerted efforts to implement comprehensive solutions, by the end of 2023, Agribank had fully achieved all business plan targets. Total assets exceeded 2 trillion VND; capital reached over 1.88 trillion VND. Total outstanding loans to the economy reached over 1.55 trillion VND, of which 65% were for the development of agriculture, rural areas, and farmers. Operational safety ratios met regulations. Agribank received approval from the National Assembly and the Government for an additional 17,100 billion VND in charter capital, creating the potential to expand business operations and provide capital to contribute to economic development. Agribank's reputation and brand continued to be affirmed and recognized. Agribank was honored to receive the First Class Labor Medal from the State for its outstanding achievements in lending and developing the agricultural economy. Fitch Ratings upgraded Agribank's Long-Term Issuer Rating to "BB+" with a "Stable" outlook, equivalent to the national rating. Brand Finance, a leading global brand valuation organization, ranked Agribank among the Top 10 most valuable brands in Vietnam in 2023. 2023 marked the seventh consecutive year that Agribank was ranked among the Top 10 largest enterprises in Vietnam according to the VNR500 ranking; and received the Sao Khue Award: Outstanding Vietnamese Bank Award. 2024 is a pivotal year in preparation for the 11th Party Congress of Agribank, for the 2025-2030 term. With the significant achievements made in more than half of the term implementing the Resolution of the 10th Party Congress of Agribank, term 2020-2025, especially the achievements in 2023, the Party Committee of Agribank will continue to seriously fulfill its role as the political nucleus, directly and comprehensively leading all activities of Agribank according to the model of a party committee throughout the bank, thoroughly overcoming shortcomings, difficulties, and obstacles to successfully complete the tasks of 2024, striving to achieve the targets and tasks of the entire term ahead of schedule; and continue to affirm its role as the leading commercial bank in Vietnam, playing a key role in the agricultural and rural finance market.

NGUYEN THI THU HIEN

Propaganda Department of the Agribank Party Committee

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