Moody’s active assessment for VIB’s financial strength

Moody’s Investors Service, a global trust-rating company, has placed the ‘bank financial strength rating’ (BFSR) of the Vietnam International Bank (VIB) at level D, with a prospect of stability.

Under the rating, VIB is ranked second among four leading Vietnamese banks including one state-owned commercial bank and another three commercial joint stock banks which were rated by Moody’s.

The review of VIB’s D-BFSR is based on its inner financial strength, indexes of creditworthiness, risk management of credits and the safety of capital, Karolyn Seet, a Moody’s analyst said.

Moody’s also highly values VIB ability to limit bad debts and its capital safety factor, she added.

Through the end of June this year, the bank’s bad debt was rated at 1.99 percent, much lower than the general rate of the overall banking sector.

Before-tax profit of the bank reached more than 300 billion VND in the first half of this year, representing over 75 percent of the yearly plan. VIB’s capital safety coefficient is kept alive at 10 percent, higher than the regulations of the State Bank and international standards.

VIB plans to increase its chartered capital to 3 trillion VND by the end of this year./.

Youths' efforts yield socio-economic fruits

Many activities were carried out across the nation during the Vietnam’s Youth Month, an annual festivity taking place in March to celebrate the establishment of the Ho Chi Minh Communist Youth Union (HCYU), contributing to the nation’s socio-economic development, heard a conference held by the union's Central Committee in Hanoi on April 23.