RELEASED DATE 19 Sep 2014
On August 29th 2014, 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
The rating on Bank for Investment and Development of Vietnam (BIDV) reflects S&P assessment that the bank has a "strong" business position, an "adequate" risk position, "average" funding, and "adequate" liquidity, as our criteria define those terms. S&P believes that the bank has "high" systemic importance in Vietnam and assess the Vietnam government as "highly supportive."
BIDV's business position reflects the bank's strong business franchise in Vietnam and its good domestic geographic reach. BIDV is the third largest domestic bank by assets and distribution network, with about 11.0% share of the system's total loans and 9% share of deposits. The bank also benefits from its status as one of the four large majority state-owned commercial banks. BIDV's stable deposit base and access to funding from the government and international lending organizations for developmental projects underpin its funding profile.
The stable rating outlook on Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) reflects S&P expectation that the bank will maintain its financial profile despite challenging and volatile operating conditions in Vietnam over the next 12 months.
For further information, please access S&P website at http://www.standardandpoors.com