Moody’s hails Vietcombank for best asset quality

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The agency maintained the results of Vietcombank’s credit ratings as in its July 2016 review. The key aspects retained include local and foreign currency issuer ratings of B1, long-term local currency deposit ratings of B1, long-term foreign currency deposit ratings of B2, risk basis assessment of B2 and a stable outlook.

Moody’s, however, pointed out that Vietcombank faces the challenge of increasing its capital for growth. The bank’s credit ratings could increase if it successfully implements the plan to increase its charter capital.

Vietcombank is one of the leading banks in Việt Nam with high asset quality and business effectiveness. It has been upgrading and moving towards meeting international standards in its operations. In the past few years, it has been voted as the best bank in Việt Nam, it has featured among the top 500 banks with most value brand names, and is among the top 300 dynamic companies in Asia.

Last year, Vietcombank’s pre-tax profit hit a record high of VND 8.2 trillion (US$ 361.76 million), up 23.4% against 2015./.

By Kim Anh