Moody’s raises credit rating for Vietcombank

Update: May, 08/2017 - 15:00
Transactions at Vietcombank in Hà Nội. — Photo
Viet Nam News

HÀ NỘI — Moody, one of the world’s leading credit ratings agencies, has upgraded the credit rating outlook of the Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) local currency deposits and issuer ratings to “positive”, from its previous level of "stable".

The rating’s agency raised the Government of Việt Nam’s outlook to positive from stable at the end of last month.

In March, Moody also announced a credit rating report separately for Vietcombank, while Moody’s noted the bank’s having the best asset quality in Việt Nam, improved profitability and noted its diversifying its non-interest incomes.

Vietcombank has been one of the banks conducting effective business operations in Việt Nam. It has been continuously voted the "Best Bank in Việt Nam" by prestigious institutions around the world, while taking the lead in the domestic market on important rankings, such as Top 500 banking brand, Top 500 strongest Asian banks, Top 300 dynamic companies in Asia and Top 100 of the most interesting companies in the Asean region.

It was noted that the bank has paid attention to international standards in order to improve operational efficiencies. —VNS