RELEASED DATE 24 Aug 2016
S&P announces BIDV’s ratings as follows:
Category S&P Rating
Issuer Credit rating- Long term b+
Issuer Credit rating- Short term B
Stand alone Credit Profile B+
Amit Pandey/Singapore 65.6239.6344
Ivan Tan/Singapore 65.6239.6335
Summary rating rationale
In S&P’s opinion, BIDV’s ratings reflect its strong business franchise and its position as the second largest bank in Vietnam by total assets. BIDV benefits from its stable deposit base and access to funding from the government and international lending organizations for developmental projects. S&P expects a high likelihood of extraordinary government support for BIDV, given its systematic importance.
The “stable” outlook reflects S&P’s expectation that BIDV will maintain measured growth and capital management policies over the next 12 months.
For further information, please access S&P website at http://www.standardandpoors.com