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Agribank, the country’s leading agricultural bank, has successfully issued bonds to the public in 2024, raising a substantial amount of VND 10,000 billion. This significant milestone was achieved through the sale of 100,000 bonds, attracting 5,079 investors, including 5,023 individuals and 56 organizations.
The bonds, with a 10-year maturity, offer an attractive interest rate of the reference rate plus a margin of 2%/year. This competitive rate is calculated using the average 12-month term deposit interest rate of four prominent banks: BIDV, Vietinbank, Agribank, and Vietcombank, offering a stable and reliable investment opportunity.
During the final five years before maturity, if Agribank does not repurchase the bonds, the margin increases to 3% per annum, providing an even more appealing prospect for investors. These bonds are non-convertible and do not come with warrants, offering a straightforward and secure investment option.
The issuance of these bonds serves a strategic purpose, bolstering Agribank’s capital and fostering long-term capital growth. This, in turn, supports the bank’s lending activities, ultimately contributing to the development and growth of the national economy.
Agribank’s bonds are eligible for deposit into securities accounts, facilitating easy trading, transfer, and pledging. Additionally, these bonds can be used as collateral for bank loans, providing investors with access to favorable interest rates and convenient financial opportunities.
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Latest Interest Rates at Agribank in February 2023: Highest Rate for 24-month Term
Interest rates for deposits at Agribank have further decreased in early February 2024 compared to January. Specifically, individual customers’ deposits are subjected to interest rates ranging from 1.7% to 4.9% per annum, while business customers’ deposits are subjected to interest rates ranging from 1.7% to 4.2% per annum.
Deputy Head of Internal Audit Department of SBV appointed Deputy CEO of Agribank
After the new appointments, Agribank’s Executive Board now consists of 9 members, with Mr. Pham Toan Vuong as the CEO.
