Agribank branches in Nghe An operate safely and effectively
(Baonghean) - Recently, after hearing the news that Agribank Finance Leasing Company II (ALCII) went bankrupt, some customers were worried about the safety of their assets and deposits at the Vietnam Bank for Agriculture and Rural Development (Agribank) system.
Regarding this issue, there has been conflicting information, even distortion, causing confusion among customers, adversely affecting Agribank's business operations.
Ms. Nguyen Thi Thu Thu - Director of the State Bank of Nghe An province affirmed: "The Agribank system nationwide in general and Agribank branches in Nghe An in particular are still operating safely and effectively, all transactions are taking place normally, the State Bank recommends that all customers and people with deposits at Agribank should be cautious when receiving bad information, avoid causing unnecessary risks for themselves and affecting monetary activities in the area".
 |
| Agribank headquarters, Nam Nghe An branch. Photo: Tuyet Mai |
It is known that, implementing the Agribank restructuring project, on May 30, 2016, ALCII filed a petition to the court to declare bankruptcy. On July 31, 2018, the People's Court of Ho Chi Minh City issued Decision No. 1009/2018/QD-TBPS declaring bankruptcy for ALCII. Then, on October 12, 2018, the State Bank of Vietnam issued Decision No. 2004/QD-NHNN on revoking the license to establish and operate ALCII. ALCII is a non-bank credit institution with independent legal status, does not mobilize deposits from the population, the violations that occurred in the period 2006-2008 were discovered and handled many years ago. The bankruptcy of ALCII was directed by the State Bank for Agribank to build and carefully prepare, as part of the Agribank restructuring plan approved by the Government and the State Bank.
 |
| Customers transact at Agribank Nam Nghe An branch. Photo: Tuyet Mai |
According to Mr. Truong Quoc Bao - Deputy Director in charge of operations of Agribank Nam Nghe An branch: "Following the direction of the General Director of Agribank, we have directed all branches and transaction offices in the area to disseminate information related to ALCII to all officers and employees to propagate and explain to customers and people in order to minimize adverse impacts on the business activities of the entire branch. Therefore, capital mobilization activities continue to grow well at all transaction points in the branch's area".
 |
| Customers transact at Agribank Nam Dan district - Nam Nghe An branch. Photo: Tuyet Mai |
Currently, in Nghe An province, there are 3 Agribank branches including Agribank Nghe An, Agribank Tay Nghe An and Agribank Nam Nghe An, all of which are type 1 and class 1 branches directly under the head office with a total of 69 transaction points covering the whole province. By November 15, 2018, the total capital size of the 3 branches reached nearly 27,600 billion VND, outstanding loans reached nearly 23,900 billion VND, accounting for a large market share compared to other commercial banks. The business activities of the branches are stable, safe, effective and have contributed a lot to the socio-economic development of the province.
