Moody’s raises BIDV’s foreign-currency deposit rating

The bank’s long-term local deposit and long-term issuer ratings were maintained at Level Ba3. The Moody’s continued to keep the BIDV’s long-term issuer rating at an equal level of the Vietnam’s national credit ratings.

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In this review, the Moody’s recognized the stable improvement of BIDV in property quality. Capital mobilization capacity is still a strength of the bank.

BIDV’s successful selling of shares to the Republic of Korea's KEB Hana Bank in 2019 contributed to increasing the bank stockholder’s equity. The Moody’s held that the bank’s selling of more stocks to foreign investors will contribute to its ratings rise.

2020 marks the 15th consecutive year that BIDV has been reviewed by Moody’s. This confirms BIDV’s commitment to financial transparency as well as compliance with international standards.

Source: VNA