Monday, 20/08/2012 13:19

Moody’s gives BIDV’s standalone credit rating of E+

Bank for Investment and Development of Vietnam (BIDV)’s standalone credit rating at E+ given by Moody’s is equal to the Rating b2 of long term scale.

 


This rating reflects the risks related to the operating environment, tolerance and weak liquidity base, as well as an asset quality decline of both identified bad debts indicator and potential bad debts and lower provision ratio for loan losses.

On the other hand, the rating also showed BIDV is the prestigious bank trade name in Vietnam, as well as the bank’s improved risk management ability.

BIDV was the first bank in Vietnam getting credit assessment and rating by Moody’s on April 28, 2006, with the financial capacity rating at E and positive outlook.

In the latest rating, on December 15, 2010, Moody’s retained BIDV’s standalone credit rating at E+ but downgraded the bank’s basis credit rating from B1 to B2. The rating in long term domestic currency-dominated deposit and long term domestic currency and foreign currency issuance was downgraded to B1 from Ba2, and the rating in long term foreign currency-dominated deposit was downgraded to B2 from B1.

BIDV is the fifth bank getting the rating from Moody’s within last one month. All five banks namely Asia Commercial JS Bank (ACB), Military Commercial JS Bank (MBB), Vietnam International Commercial JS Bank (VIB), Vietnam Technological and Commercial JS Bank (Techcombank) and BIDV were given the standalone credit rating at E+ by Moody’s

Moody's
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