Moody's assigns a standalone credit assessment of E+ to VIB

Moody's assigns a standalone credit assessment of E+ to Vietnam International Bank (VIB), which translates into b2 on the long-term scale.

The rating reflects the inherent volatility in VIB's operating environment, deteriorating asset quality -- both in terms of reported non-performing loans (NPLs) as well as economic NPLs (inclusive of special mention loans) -- and low loan loss reserves coverage.

Furthermore, the bank's focus on gaining share in its already competitive market will increase risk taking and pose the risk of further asset quality pressure in the months ahead.

Moody's

>   Fingerprint-enabled card launched in Vietnam (10/08/2012)

>   Finance confab opens next month in capital (10/08/2012)

>   Time for banks to reshuffle the deck (09/08/2012)

>   HDBank allowed to provide additional services (09/08/2012)

>   Bank credit gets stuck, black credit prospers (09/08/2012)

>   State budget expenditure surged in July (09/08/2012)

>   Ministry wants to lift income-tax threshold (09/08/2012)

>   Tax reform to be sped up to encourage development (09/08/2012)

>   G-bonds difficult to sell (08/08/2012)

>   City banks see profits shrinking (08/08/2012)