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S&P summary: Bank for Investment and Development of Vietnam
Summary analysis -- Bank for Investment and Development of Vietnam 30-Aug-2012
CREDIT RATING: B+/Stable/B Country: Vietnam
Credit Rating History:
Local currency Foreign currency
08-Dec-2011 B+/B B+/B
23-Dec-2010 BB-/B BB-/B
22-Jul-2010 BB/B BB/B
Ratings Score Snapshot
Issuer Credit Rating B+/Stable/B
SACP b
Anchor b
Business Position Strong (+1)
Capital and Earnings Very Weak (-1)
Risk Position Adequate (0)
Funding and Liquidity Average
and Adequate (0)
Support +1
GRE Support 0
Group Support 0
Sovereign Support +1
Additional Factors 0
Outlook
The stable outlook reflects our expectation that BIDV will maintain its financial profile amid challenging operating conditions in Vietnam and improve its risk management systems.
We could downgrade BIDV if: (1) we lower the sovereign rating on Vietnam ; (2) the bank's asset quality declines substantially; or (3) its RAC ratio falls below 2%.
We could upgrade BIDV if we raise the sovereign rating on Vietnam and the bank's stand-alone credit profile improves. Any large capital raising activity, including a strategic sale of a stake in BIDV, such that the bank's RAC ratio increases to above 3%, could improve its stand-alone credit profile to 'b+'.
reuters
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