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Banks receive credit report cards

Update: September, 10/2012 - 10:21

 

Customers conduct transactions at a VP Bank branch in the city of Da Nang. The 3rd Viet Nam Credit Rating Annual Report has been issued, providing competitiveness ratings for 32 banks. — VNA/VNS Photo Tran Viet
HA NOI (VNS)— Thirty-two domestic commercial banks have been rated at four competitiveness levels, A, B, C, and D, according to the Viet Nam Credit Rating Annual Report 2012 released on Saturday.

Level A banks have a high competitiveness, strong market power, stable financial resources, effective performance, and long-term development potential.

Level B consists of banks with fairly high competitiveness, good market power, reasonable financial resources, stable performance and good development potential.

Banks with average competitiveness, limited market power, acceptable financial strength, and less stable business performance belong to level C.

Level D refers to banks with limited competitiveness. These banks suffer from deficiencies like a weak business network and market power, acceptable financial strength, and less stable business performance.

According to the report, the nine banks to receive A ratings were Techcombank, ACB, Sacombank, Eximbank, DongA Bank, MB, Vietcombank, Vietinbank, and BIDV.

The Level B banks were BacA Bank, HDBank, MaritimeBank, Orient Commercial Joint Stock Bank, Sai Gon Bank for Industry and Trade, Southern Bank, VIB, PG Bank, and Viet A Bank.

VPBank, ABBank, DaiA Bank, Kien Long Bank, MHB, Nam A Bank, Oceanbank, Habubank, Navibank, and SHB were placed in level C.

Level D is comprised of Vietbank, Western Bank, and MDB.

Agribank was not rated in this year's report.

The launch of Viet Nam Credit Rating Annual Report 2012 was announced by the President's Office and the Viet Nam Chamber of Commerce and Industry (VCCI).

This is the 3rd consecutive year this kind of report was conducted. This year's report provides an overall evaluation of Viet Nam's banking system together with competitiveness ratings of the banks. — VNS

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