RELEASED DATE 18 Dec 2020
According to Moody’s release, BIDV’s long-term foreign currency deposits rating was upgraded to Ba3 from B1. The other ratings (long-term local currency deposit and long-term issuer rating) were affirmed at Ba3. BIDV’s long-term issuer rating is at the same level as Vietnam government’s issuer rating.
The rating actions follow Moody's upgrade in foreign currency bank deposit rating for Vietnam banks. Moody's ratings reflect the steady improvement in BIDV’s asset quality. Funding continues to be BIDV's strength. BIDV's new share issuance to Hana Bank in 2019 has improved BIDV's equity. Moody's also affirmed that BIDV’s plans to continue issuing new shares to foreign investors over the next few years will be a credit positive if successful.
2020 marks the 15th consecutive year that BIDV has been reviewed by Moody’s. BIDV is also the pioneering bank in this field, confirming the bank’s commitment to financial transparency as well as compliance with international standards.
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