RELEASED DATE 30 Dec 2017
Global rating agency Moody’s has performed its annual review and affirmed credit ratings for the Bank for Investment and Development of Vietnam (BIDV) in December 2017
BIDV’s credit ratings has been improved in 2017with one notch upgrade for BIDV's baseline credit assessment to reflect the stabilization in the bank's asset quality as well as improvements in the bank's funding profile. BIDV’s deposit and issuer ratingsremain unchanged with a ‘positive’ outlook for the local currency deposit and local and foreign currency issuer ratings of BIDV and ‘stable’ outlook for the foreign currency deposit rating. Details are as follows:
• Long term Bank Deposits – Local/Foreigncurrency: B1/B2
• Local and Foreign currency Long term Issuer Rating: B1
In Moody’s opinion, BIDV’s ratings are at the same level as Vietnam's sovereign rating, which is underpinned by BIDV’s status as the second largest state-owned bank in Vietnam with sizeable market shares of domestic deposits and loans and a very high level of support for BIDV in times of need from the Government of Vietnam.
2017 marks the 12nd consecutive year that BIDV is reviewed by Moody’s (besides Standard & Poor’s of the 8th consecutive year). This confirms BIDV’s commitment to financial transparency as well as compliance with international standards.
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