Moody’s upgrades ratings of 14 VN’s commercial banks

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Moody’s has lifted the long-term local and foreign-currency deposit and issuer ratings of the Bank for Foreign Trade of Viet Nam (Vietcombank), Bank for Investment and Development of Viet Nam (BIDV), and Vietnam Bank for Industry and Trade (VietinBank).

The firm has also upgraded the long-term counterparty risk ratings (CRR) and counterparty risk assessments (CRAs) of VietinBank and BIDV, and affirmed those of Vietcombank.

The firm has also upgraded the long-term foreign-currency deposit ratings of Asia Commercial Bank (ACB), Military Bank (Military Bank), and Viet Nam Technological and Commercial Bank (Techcombank). All other ratings of these three banks stayed the same.

At the same time, Moody's has upgraded the long-term local and foreign-currency bank deposit and issuer ratings of five banks, including An Binh Bank (ABB), Lien Viet Post Bank (Lien Viet), Tien Phong Bank (TPBank), Viet Nam International Bank (VIB), and Viet Nam Prosperity Bank (VP Bank) while all other ratings of them remained unchanged.

Moody's has also upgraded the long-term CRR and CRA of Saigon – Ha Noi Bank (SHB), Ho Chi Minh City Development Bank (HDBank), and Orient Bank (OCB) while all other ratings of the three banks were affirmed.

Additionally, the credit rating provider has changed the outlook for the local currency deposit and local and foreign-currency issuer ratings of eight banks, namely Vietcombank, BIDV, VietinBank, ABB, Lien Viet, TPBank, VIB and VP Bank, from positive to stable.

By Hoang Ha