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Petrolimex Group Commercial Joint Stock Bank (PG Bank), formerly known as Dong Thap Muoi Rural Joint Stock Bank, was established on 13th Nov 1993 with initial chartered capital of VND 700 million. After nearly 20 years of operation, the Bank has developed steadily and succeeded in building up customers trust. From 2005, with the participation of strategic shareholder, which is Vietnam National Petroleum Group (Petrolimex), PG Bank experienced outstanding achievements, in terms of both operating scale and effectiveness. The year 2007 marked a significant development milestone of PG Bank by the transformation to urban bank model which is sound step forward on the road to become a leading Vietnamese universal bank.
Domain for sales: Petrolimexgroupbank.com.vn
Products and Services
PG Bank provides a comprehensive range of traditional banking products and services, including deposit and lending products, cross-border remittance service, trade financing and card-related services. In addition, the Bank has also put great effort in developing and offering customers more diversified and advanced financial products and services, notably corporate finance and commodity derivatives.
The Internet Banking service of PG Bank has been enhancing continuously in recent years, allowing customers to conveniently make banking transactions on the Bank’s portal with personal information being kept at strictest confidential. To ensure best support possible to all the operations of the Bank, in recent years PG Bank has invested heavily on the information system. At the moment, PG Bank is utilizing FlexCube, the corebanking system provided by Oracle while using the advanced information security system developed by Checkpoint.
Up to now, PG Bank has a total of 81 branches and transaction offices in Vietnam. The Head Office of the Bank is located in Hanoi.
Correspondent Bank Network
PG Bank has increasingly developed correspondent relations with more Financial Institutions all over the world. Up to now, PG Bank has established correspondent relations with about 400 banks all over the world. This enables the Bank to meet the demand for L/C notification to all related countries which have export-import relation with Vietnam.
- Since the transformation from a rural bank to an urban bank in 2007, PG Bank has continuously accomplished marvelous achievements.
- The operation scale of the Bank has increased dramatically. Total assets grew 4.1 times in the period of 2007 – 2012, reaching VND 19,251 billion in 31/12/2012.
- While constantly attempting to increase the business scale, PG Bank has also tried relentlessly to maximize efficiency and profitability. Capital adequacy ratio always meets the requirement of SBV and international standard (2012: 22.62%).