Establishment and Development

  The foundation of Vietnam - Russia Joint Venture Bank (VRB) to boost the bilateral co-operation between Vietnam and Russia is the product of the two countries’ leading bank efforts, Bank for Investment and Development of Vietnam (BIDV) and Bank for Foreign Trade of Russia (VTB) with 50% and 50% of chartered capital respectively. The official operation of VRB started on November 19th 2006.

  After nearly 3 years performing the task assigned by the two governments, thanks to special support from the two Central Banks, BIDV, and VTB, in 2009 total assets of VRB amounted to USD 386 million, of which USD 63 million was shareholders’ equity, retained earning, provisions etc. For now, the chartered capital is 168,500,000 USD.

  With the orientation of becoming a retail bank on a modern technology platform, in addition to many traditional products and services, VRB focuses resources on developing other specialized services to meet the increasingly diverse needs of customers.

  Cards and other e-banking services is some of the investment in technology that VRB is trying to create modern banking infrastructure for retail services. Internet banking, SMS banking, ATM card have been put into operation recently proves that the strategy of VRB is to develop modern banking products and services in the orientation towards satisfying the demands of the customers in time of industrialization and global integration.  

  VRB has 6 branches located in the economic centers in Hanoi, Ho Chi Minh City, Vung Tau, Da Nang, Nha Trang city and Hai Phong city.

  VRB always strives to deserve confidence of the two Governments, the support of the two Central Banks, the co-founders BIDV and VTB, the confidence and expectation of customers.

   VRB: Connecting successes for development!