(Files) Agribank staff at a transaction office in Vietnam

The Bank of Agriculture and Rural Development of Vietnam (Agribank) opened its first branch in Cambodia on June 28.

Addressing the inauguration ceremony of the Agribank-Cambodia branch, Chairman of Agribank’s Management Board Nguyen The Binh emphasized the role and responsibility of Vietnam’s big financial institution in promoting trade with neighboring Cambodia which is considered a rich potential market.

Agribank opened its representative office in Phnom Penh since 2005 and has signed cooperation agreements with many Cambodian partners and supplied the border trade payment service.

The bank pledged to provide a modern banking service and payment system for 14 million Cambodian people and facilitated Vietnamese businesses and investors’ activities in the country, Binh said.

For her part, Permanent Deputy Prime Minister Men Sam On emphasized that the opening of Agribank’s branch in Cambodia has proved the further development of the two countries’ economic and trade ties and reflected Cambodia’s sound policy on foreign investment attraction and foreign investors’ increasing confidence in the country’s investment environment.

Also on the occasion, Governor of the State Bank of Vietnam Nguyen Van Giau presented 100,000 USD donated by Agribank to Deputy PM Men Sam On to support the country’s social activities.

Established in 1988, Agribank has a total asset of almost 26 billion USD and more than 2,300 branches and Internet transaction offices. It has established relationship with more than 1,000 foreign banks in 96 countries and territories.