RELEASED DATE 24 Aug 2012
In August 2012, Moody’s Investors Service (Moody’s) reviewed and released its annual credit opinion of the Joint-stock Commercial Bank for Investment and Development of Vietnam (BIDV).
As such, the ratings of BIDV for the year 2012 remain unchanged compared with those at end-2011 with most of which reaching the country’s ceilings and a stable outlook. The ratings of BIDV are as follows:
• Bank Deposits Foreign currency/Domestic currency: B1/B2
• Issuer Rating: B1
• Bank Financial Strength: E+
• Outlook: Stable.
This is a positive and remarkable rating result as the global financial crisis and economic depression have shown only a few signs of improvement, as well as Vietnam’s economy and banking system are facing many challenges.
Moody’s highly assessed BIDV’s strengths such as being the third largest bank in Vietnam in term of total assets, a wide distribution network and one of the best banking settlement systems. Besides, BIDV’s corporate and risk management have been significantly enhanced.
This is the seventh successive year that BIDV has been rated by Moody’s, affirming BIDV’s strong commitments on improving transparency and applying best international standards into the Bank’s operations.
BIDV is the oldest commercial bank in Vietnam with the 55-year history of development. As at 30 June 2012, BIDV’s total assets reached VND 444 trillion with 118 branches and about 500 transaction points nationwide.
For further information, please go to BIDV’s website at www.bidv.com.vn