S&P Global Ratings affirmed the 'B+' long-term and 'B' short-term issuer credit ratings on the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV). The outlook
on the long-term rating is stable.
"We also affirmed and withdrew our 'axBB' long-term and 'axB' short-term ASEAN
regional scale issuer ratings on the bank," S&P said in a statement.
The issuer credit rating on BIDV reflects the bank's strong franchise, and
satisfactory profitability and asset quality as compared with its peers in
Vietnam. The bank's very weak capitalisation tempers these strengths. The
rating benefits from one notch of government support given the bank's size,
government ownership, and systemic importance to Vietnam's banking system.
-rmc//
