Global rating agency Standard & Poor’s (S&P) has performed its annual review and affirmed credit ratings for the Bank for Investment and Development of Vietnam JSC (BIDV) in September 2017.

For 2017, BIDV’s credit ratings remain unchanged with a ‘stable’ outlook. Details are as follows:

·     Long-term issuer credit rating: B+

·     Short-term issuer credit rating:  B

·     Outlook:  Stable

In S&P’s opinion, BIDV’s ratings reflect the bank's strong franchise as the largest bank in Vietnam by total assets, satisfactory profitability and asset quality as compared with its peers in Vietnam. BIDV is the largest domestic bank by total assets, and second largest by loans, deposits, and distribution network, accounting for about 13% of the system's total loans and 12% of deposits. BIDV’s liquidity benefits from its stable deposit base and access to funding from the government and international lending organizations for developmental projects. BIDV has also made considerable progress on the retail sector that will diversify its business and enhance its yield. In addition, S&P expects a high likelihood of extraordinary government support for BIDV, given its systematic importance.

The “stable” outlook reflects S&P’s expectation that BIDV will maintain its strong franchise, satisfactory profitability, and improve its asset quality, especially via resolution of legacy bad loans over the next 12 to 18 months.

2017 marks the eighth consecutive year that BIDV is reviewed by S&P, as well as the 12nd consecutive year that BIDV is review by Moody’s Investors Service. This shows BIDV’s commitment to improving transparency and to complying with the latest international standards in its business operations.

For more information, please visit:

S&P Website: http://www.standardandpoors.com

Bank for Investment and Development of Vietnam JSC Hotline 19009247 Website: www.bidv.com.vn