Moody’s announces completion of a periodic review of ratings of JSC Bank for Investment & Development of Vietnam (BIDV)
On April 16, 2020, Global rating agency Moody’s has completed a periodic review of the ratings of JSC Bank for Investment & Development of Vietnam (BIDV). According to Moody’s release, BIDV’s long-term local and foreign-currency deposit and long-term issuer ratings were maintained.
you are waching: Moody’s Credit Opinion on BIDV in 2019
Moody’s assesses that the bank’s capitalization is strengthened following the external raise in 2019, as well as steady improvements in asset quality following the resolution of legacy problem assets and write off of VAMC bonds. Funding is a key strength for BIDV as the bank’s deposit base is supported by its extensive branch network and strong relationships with large Vietnamese corporates.
BIDV’s long-term local and foreign-currency deposit and long-term issuer ratings were maintained, highest ratings among Vietnamese banks. Details are as follows:
- Long term Bank Deposits – Local/Foreign currency: Ba3/B1
- Local and Foreign currency Long term Issuer Rating: Ba3
As of 31 December 2020, BIDV’s total assets reached VND1,490 quadrillion, maintaining the leader position among Vietnamese banks. The Bank has developed an extensive network, covering 63 provinces and cities nationwide, of 189 domestic branches, 01 foreign branch and 871 transaction offices as at 31 December 2020.
2020 marks the 15th consecutive year that BIDV is reviewed by Moody’s and BIDV also is the pioneer in this field. This confirms BIDV’s commitment to financial transparency as well as compliance with international standards.
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