Moody's upgrades long-term rating of BIDV

On September 07, 2022, Global rating agency Moody’s has announced the ratings of JSC Bank for Investment & Development of Vietnam (BIDV). According to Moody’s release, BIDV's long-term (Local/Foreign currency) deposit and issuer ratings have been upgraded to Ba2 from Ba3. Details are as follows:

• Long term Local/Foreign currency Deposit Ratings:  Ba2
• Long term Local and Foreign currency Issuer Ratings: Ba2
• Outlook: Stable

The rating action follows Moody's upgrade of Vietnam's sovereign rating to Ba2 from Ba3. The upgrade in BIDV's ratings reflects the stronger ability of the government to provide support of BIDV in time of stress.

2022 marks the 17th consecutive year that BIDV is reviewed by Moody’s and BIDV also is the pioneer in this field. This confirms BIDV’s commitment to financial transparency as well as compliance with international standards.

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