Moody's keeps VPBank’s ratings unchanged

Moody's keeps VPBank’s ratings unchanged. (Photo: VNA)

Hanoi (VNA) – Moody's Investors Service (Moody's) has maintained the Ba3 ratings and stable outlook for the Vietnam Prosperity Joint Stock Commercial Bank (VPBank).

The rankings have been maintained since July 2022 although the domestic and global financial markets have faced many difficulties and challenges.

In its latest report, Moody’s highly valued the bank’s deal to sell its 15% stake to Japan’s Sumitomo Mitsui Banking Corporation (SMBC), raising its capital safety rate to 19%, the highest among the Vietnamese banks rated by Moody’s.

Moody's said that VPBank's profits are always in the top of the industry, which is considered a strength of the bank in its credit rating profile.

Meanwhile, VPBank's mobilisation capacity and liquidity are considered to be balanced in the current situation, capable of supporting the bank to overcome difficult times when the market is fluctuating.

At the end of 2022, VPBank's charter capital reached over 67 trillion VND (2.85 billion USD), while its capitalised value hit 120 trillion VND, maintaining its position as the private bank with the largest capitalised value in Vietnam./.

VNA