Business

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

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.
Moody’s raises BIDV’s foreign-currency deposit rating ảnh 1Transactions at BIDV (Photo: VNA)

Hanoi (VNA) – The Bank for Investment andDevelopment of Vietnam (BIDV)'s foreign-currency deposit rating has been raisedfrom B1 to Ba3 by Moody’s.

The bank’s long-term local deposit and long-term issuerratings were maintained at Level Ba3. The Moody’s continued to keep the BIDV’slong-term issuer rating at an equal level of the Vietnam’s national creditratings.

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

BIDV’s successful selling of shares to the Republic of Korea's KEB Hana Bank in 2019contributed to increasing the bank stockholder’s equity. The Moody’s held that thebank’s selling of more stocks to foreign investors will contribute to itsratings rise.

2020 marks the 15th consecutive year that BIDV has beenreviewed by Moody’s. Thisconfirms BIDV’s commitment to financial transparency as well as compliance withinternational standards./.
VNA
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