Agribank not to be equitized soon, says governor

There are no plans to equitize Agribank in the next five years, accordingto the Governor of the The State Bank of Vietnam.

The said bank is currently the only lender with full state ownership. Other major state-run banks, the VCB, CTG and BIDV, have conducted their initial public offering.

VCB and CTG are listed with BIDV planning to follow the trend late this month.

Agribank expects agriculture loans to grow by 15-18% in 2012 and account for over 70% of its total credits. It also pledges to reduce lending to non-productive sectors (real estate and consumers) and prioritize funds for agricultural production and rural development.

The lender’s total outstanding credits as at the end of last year rose 7% on year to VND443.476 trillion. Of the total, outstanding loans for agriculture and rural areas were estimated at VND301.608 trillion, representing 68.01% and up 15% or VND39.341 trillion from the beginning of 2011.

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