Agribank joins Eurogiro global payment network

Hanoi (VNA)- The Vietnam Bank for Agriculture and Rural Development (Agribank) has become Vietnam’s first bank joining Eurogiro, which provides global remittance services.

Agribank now has right to perform international payments and remittance services through the Eurogiro system, which is connected with nearly 660,000 transaction offices of Eurogiro’s members in countries where Vietnamese people are living.

It enables Vietnamese people to conduct transactions in any time and at any place with various forms. They are provided with rapid, safe and effective remittance services through the Erogiro systems in their host countries.

International payments and remittance services are strongly developing in Asia. Vietnam, one of the top ten destinations of remittances, is viewed as a promising land for these services.

Agribank, a state-owned corporation, was established in 1988. It is now the largest commercial bank in Vietnam in terms of assets, capital, branch network, staff and customer.

Eurogiro is a unique payment network that connects different payments "ecosystems", e.g. postal organisations, post banks, commercial banks and other payment service providers, focusing on cross border high volume - low value payments.

The union facilitates its members' cooperation in the field of international payments and offers efficient solutions supporting their offering to clients. Thereby, Eurogiro helps increasing the business of its members.-VNA