Moody’s has revised domestic currency deposit and foreign currency issuer ratings of the State-owned Bank for Investment and Development of Vietnam (BIDV) up by one place to B1.

The global credit rating agency has also assessed BIDV’s prospect as stable.

The commercial bank has recently been recognised as the best domestic supplier of foreign exchange services in Vietnam for the second straight year by domestic businesses and financial institutions.

It was also voted as the best for foreign exchange research and market coverage in the country by Asianmoney – a prestigious Hong Kong-based magazine.

According to the bank’s recent financial report, BIDV’s total asset by June 30 this year was valued at more than 583 trillion VND (nearly 27.8 billion USD) – relatively high in the Vietnamese market, up 5.4 percent from the year’s beginning.

Its liabilities grew by 4.9 percent while the ratio of bad debt to liabilities stood at 2.2 percent.

Over the first half of 2014, BIDV gained approximately 2.5 trillion VND (119 million USD) in pre-tax profit, fulfilling 41 percent of its yearly goal.-VNA