On 7 September 2022, the global rating agency Moody’s announced the ratings of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV). According to the 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
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 to BIDV in times 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.