Vietnam’s Agribank assigned first-time Ba3 ratings

February 04, 2019 - 17:30

Moody’s Investors Service has assigned first-time Ba3 deposit and issuer ratings to Vietnam Bank for Agriculture and Rural Development (Agribank).

Moody’s Investors Service has assigned first-time Ba3 deposit and issuer ratings to Vietnam Bank for Agriculture and Rural Development (Agribank).– VNA/VNS Photo

HÀ NỘI – Moody’s Investors Service has assigned first-time Ba3 deposit and issuer ratings to Vietnam Bank for Agriculture and Rural Development (Agribank).
“Agribank has made significant progress in cleaning up legacy problem assets in the last five years, with material improvements in the second half of 2018,” the company said.
Funding and liquidity were good at Agribank, it said, adding that the bank was mainly funded by retail deposits, and has a low reliance on market-sensitive funding.
The deposit franchise is supported by the bank’s branch network, which is the largest in Vietnam , it noted.
Agribank accounts for 50 percent of rural credit market share in Vietnam. It has 938 branches and 1,297 transaction offices along with 62 mobile banks and 2,845 automated teller machines (ATM) in addition to 46 Autobank and 20,781 point of sale (POS) locations nationwide. – VNS

Tags Vietnam Moody's Agribank Vietnam News news

Work starts on $84.5-million glove manufacturing project in Nam Định

bizhub

Mega trading project starts construction in Đà Nẵng

bizhub

Samsung holds second corporate social responsibility day

bizhub

Growing wine market to be worth US$382 million

bizhub

Taiwan and Việt Nam collaboration in the water treatment sector is promising prosperity

bizhub

Maersk opens its first bonded warehouse in Việt Nam

More on this story

bizhub

Central city, Qatar Airways to promote daily direct flight

The central city’s tourism department, in co-operation with Qatar Airways, plans to launch a daily flight to meet the increasing demand between Đà Nẵng and Doha, Qatar in the near future after the weekly direct flight debuted last December.

bizhub

An Phát Holdings Group to build a packaging plant in the US

An Phát Holdings Group plans to build an environmentally-friendly packaging factory named An Phát USA in the United States.

bizhub

AI Map System launched in Viet Nam

The AI Map Innovation Consortium (AICON) has launched its AI Map System project in Việt Nam.

bizhub

ASEAN needs to step up reform to improve openness: HSBC CEO

For ASEAN to continue to prosper in 2019 and beyond, policymakers across the region should step up reform efforts designed to boost the region’s openness and integration, an HSBC official has said.

bizhub

Masan’s core profit jumps by 57 per cent

The Masan Group Corporation (Masan), which saw an increase of more than 57 per cent in profit last year, has set a target of double-digit growth for 2019.

bizhub

FPT’s profit before tax exceeds 2018 plan

FPT Corporation’s revenue and profit before tax in 2018 were VNĐ23.2 trillion (US$1 million) and VNĐ3.9 trillion, respectively.

bizhub

SCG posts 20% revenue sale increase

SCG, a Thai-owned Southeast Asian conglomerate, reported revenue from sales of more than VNĐ30.96 trillion (US$1.34 billion) from its Việt Nam operations in 2018, up 20 per cent year-on-year.

bizhub

Vietjet officials visits Tân Sơn Nhất International Airport

Consumer airline Vietjet’s general director Nguyễn Thị Phương Thảo late January 30 arrived at Tân Sơn Nhất International Airport to check the firm’s operations in the days before the Lunar New Year.