Vietnam banking sector has quickly grown with many banks offering highly differentiated financial services to help catch up with the rapid economic growth and increased needs from their clientele. The nation has a number of banks, some of which have regional influence. If you are seeking for information on some of the Vietnam major banks, here are some of the banks you should consider
Vietnam Bank for Agriculture and Rural Development, Agribank
One of the best banks in Vietnam, which has helped foster economic development in Vietnam, is the Vietnam Bank for Agriculture and Rural Development, popularly known as Agribank. This bank has heavily invested in various sectors of the economy. Some of the key areas where the bank has heavily invested is farmers, rural areas and agriculture, hence the name. in terms of assets, branch network,, staff and customer base, it is the biggest band in Vietnam.
As the oldest commercial bank in Vietnam external affairs, Vietcombank is the first bank ever to implement centralized management structure of capital.
Furthermore, the bank is the first one that issues and pays master cards, visa credit cards as well as being the biggest card payment agent in Vietnam. It is often ranked as the second best bank in Vietnam after the Vietnam Bank for Agriculture and Rural Development. This bank has scoped various banking awards such as awards of being the ‘Best Bank in Vietnam” for the years 2000 all through to 2004 by a highly reputable UK banking magazine, the Banker.
In Hanoi, the Techcombank has the largest network. It has also received a number of awards such as the “the most satisfied service in 2008” given through voting of Sai Gon Tiep Thi magazine readers early 2008 (February). In the same year, Techcombank also received another award by the securities committee in October for being “reputed securities trademarks and the top Joint stock company of Vietnam”. It was the first bank in Vietnam to fully adopt middle and front office solutions for treasury where it used TOMs in for keeping position, trade entry as well as risk management on various classes of assets.
Bank for Investment and Development of Vietnam
Closing the list of the best 4 major banks in Vietnam, we have the Bank for Investment and Development of Vietnam. It was the first to be established among the commercial banks that are state owned. Organized like a ‘State General Corporation’, the Bank for Investment and Development of Vietnam has a range of credit, banking, currency and services that are non banking. It also serves as the authorized agency for funding projects whose source of money is international or domestic.