Moody’s raises BIDV’s foreign-currency deposit rating

Tuesday, Dec 22, 2020 09:02

Transactions at BIDV. — Photo courtesy of the bank

The Bank for Investment and Development of Viet Nam (BIDV)'s foreign-currency deposit rating has been raised from B1 to Ba3 by Moody’s.

The bank’s long-term local deposit and long-term issuer ratings were maintained at Level Ba3. Moody’s kept BIDV’s long-term issuer rating at an equal level of the Viet Nam’s national credit ratings.

In this review, Moody’s recognised the stable improvement of BIDV in property quality. Capital mobilisation capacity is still a strength of the bank.

BIDV’s successful sale of shares to the Republic of Korea's KEB Hana Bank in 2019 contributed to increasing the bank stockholder’s equity. Moody’s said the bank’s selling of more stocks to foreign investors will contribute to its ratings rise.

2020 marks the 15th consecutive year BIDV has been reviewed by Moody’s, showing BIDV’s commitment to financial transparency as well as compliance with international standards. — VNS

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