Full name: Vietnam – Russia Joint Venture Bank
SWIFT CODE: VRBAVNVX
Head Office: 1, Yet Kieu Street - Hoan Kiem District - Ha Noi
Acting Chairman of Board of Members: Mr. Chumakovskiy Sergey Olegovich
General Director: Pham Duc An
Vietnam-Russia Joint Venture Bank (VRB) held the official opening ceremony on 19/11/2006. The establishment of VRB, resulting from the economic co-operation of the two Governments and Central Banks, opens new opportunities for co-operation of the two economies and the financial systems. The opening ceremony was attended by the President of Vietnam Nguyen Minh Triet and of Russian President Vladimir V. Putin.
VRB is a joint venture between the two leading banks in Vietnam and Russia, Bank for Investment and Development of Vietnam (BIDV), accounts for 50% and Bank for Foreign Trade of Russia (VTB) with 50% of chartered capital.
Being the leading bank to finance for bilateral trade and investment activities between Vietnam and Russia
Being a multi-functional business bank with modern banking model under the principles of sustainable, effective, secure, and integrative development, meeting all safety indexes of normal operations of international banking practices.
2. Commitment to customers
We strive to bring conveniences to customers in approaching funds, products and services; the goal of VRB is to increase values and bring success to customers.
3. Main business activities
- VRB provides consultancy and information about investment possibilities.
- VRB arranges investment capital, directly give loans or co-finance projects.
- VRB provides guarantee services, such as guarantee for payment, bid, contract fulfilments.
- VRB makes direct investments through provision of capital to by shares in the two countries’ firms; indirect investments through activities on inter-bank markets or financial markets.
b. Trade promotion:
- VRB does financial and trading promotion activities;
- VRB provides support on sharing information of markets and customers;
- VRB cooperates with customers in assessing their partners as well as investment projects to promote bilateral business activities between Vietnam and Russia.
4. Products and services
- Individual account
- Individual lending
- Money transfer in both domestic and oversea, direct transfer between Vietnam and Russia in three currencies: VND, RUB, and EURO.
- Money transfer: domestic and oversea
- Trade sponsor: import, export...
- Foreign currencies trading and