RELEASED DATE 16 Aug 2018
BIDV’s credit ratings has been improved with one notch upgrade for BIDV's long-term local and foreign-currency deposit and long-term issuer ratings. Moody’s also changed the outlook for the local currency deposit and local and foreign-currency issuer ratings to stable from positive. Details are as follows:
- Long term Bank Deposits – Local/Foreign currency: Ba3/B1
- Local and Foreign currency Long term Issuer Rating: Ba3
In Moody’s opinion, the rating actions follow Moody's upgrade of Vietnam's sovereign rating to Ba3 from B1, and change in the outlook for the sovereign's rating to stable from positive. The upgrade of Vietnam’s sovereign rating reflects (i) strong growth potential; (ii) increasingly efficient use of labor and capital in the economy; (iii) A long average maturity of government debt and a diminishing reliance on foreign-currency debt; (iv) improvements in the health of the banking sector that Moody's expects to be maintained.
2018 marks the 13th consecutive year that BIDV is reviewed by Moody’s (besides Standard & Poor’s of the 9th consecutive year). This confirms BIDV’s commitment to financial transparency as well as compliance with international standards.