Moody’s completes periodic review of ratings of BIDV

HO TUAN

BIDV headquarters in Hanoi

BIDV’s long-term deposit and long-term issuer ratings were affirmed at the highest ratings among Vietnamese banks.

On 21 June 2021, the global rating agency Moody’s has completed a periodic review of the ratings of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV). According to Moody’s release, BIDV's long-term local and foreign-currency deposit and long-term issuer ratings were affirmed.

Moody's recognizes the bank’s steady improvements in asset quality following the resolution of legacy problem assets and VAMC bonds writeoff. Funding is a key strength for BIDV as the bank's deposit base is supported by its extensive branch network and strong relationships with Vietnam’s large corporates.

BIDV’s long-term deposit and long-term issuer ratings were affirmed at the highest ratings among Vietnamese banks. Details are as follows: Long term Bank Deposits – Local/Foreign currency at Ba3; Local and Foreign currency Long term Issuer Rating at Ba3; and positive outlook.

2021 marks the 16th consecutive year that BIDV has been reviewed by Moody’s. The bank is pioneering in this regard, confirming its commitment to transparency as well as compliance with international standards.

In March 2021, Moody's Investors Service affirmed the Government of Vietnam's long-term issuer and senior unsecured ratings at Ba3 and changed the outlook to positive from negative.