The global rating agency Moody’s has performed its annual review and affirmed credit ratings for the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) in October 2018.

Moody’s has upgraded the baseline credit assessment (BCA) of BIDV to b2 from b3. BIDV's long-term local and foreign-currency deposit and long-term issuer ratings were affirmed, outlook stable. Details are as follows:

·      Long term Bank Deposits – Local/Foreign currency:  Ba3/B1

·      Local and Foreign currency Long term Issuer Rating: Ba3

·      Baseline credit assessment:                                         b2

In Moody’s opinion, the upgrade of BIDV’s BCA reflects (i) Moody’s expectation that the good economic growth evident in Vietnam will support the asset quality and profitability of BIDV; (ii) and improvements in asset quality. Funding and liquidity for the bank are stable.

As of 30 September 2018, BIDV’s total assets reached over VND1.268 quadrillion, maintaining the leading position among Vietnamese commercial banks. The bank has developed an extensive network, covering 63 provinces and cities nationwide including190 domestic branches, 01 foreign branch and 854 transaction offices. BIDV has made considerable progress on the retail sector and is also pursuing Fintech to drive digital banking for efficiency and profitability improvements.

2018 marks the 13th consecutive year that BIDV has been reviewed by Moody’s. BIDV is also the pioneering bank in this field. This shows BIDV’s commitment to financial transparency as well as compliance with international standards.

For more information please contact:

Moody’s Website: www.moodys.com

BIDV Website: www.bidv.com.vn Hotline: 19009247