RELEASED DATE 10 Sep 2015
In 2015, BIDV, known as the first enterprise in Vietnam rated by an international credit rating agency, takes the sixth successive year of credit ratings by S&P (besides Moody's), confirming its commitments for financial transparency and compliance with international standards.
On August 28th 2015, 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 the bank’s strong franchise and its business position as the third-largest domestic bank by assets and distribution network. BIDV also benefits from its status as one of the four large majority state-owned (95,76%) commercial banks in a confidence-sensitive system. BIDV's stable deposit base and access to funding from the government and international lending organizations for developmental projects underpin its funding profile. S&P believes that the bank has "high" systemic importance in Vietnam and assesses the Vietnam government as "highly supportive."
The “stable” rating outlook on 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