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Moody's changes outlook of 18 Vietnamese banks to negative

Luu Van Dat Friday | 12/20/2019 18:24

SHB is among Vietnamese banks in the list. Photo: giaoduc.net

Just one day after changing outlook of Vietnam to negative, Moody's Investors Service has taken rating actions on 18 commercial banks in the country to negative.

However, it says the rating actions on the banks are driven purely by the sovereign rating action, and do not reflect a weakening of the banks' standalone financial profiles.

Moody’s divided the banks into three groups. The first group includes 10 banks confirmed with long-term local and foreign currency deposit and issuer ratings, and had outlooks changed to negative.

Second group includes 5 bank having unchanged rating in long-term foreign currency deposit ratings, and changed the outlooks to negative.

At the same time, Moody's has also confirmed the long-term CR Assessments and CRRs of the remaining three banks.

Latest rating actions on the banks also follow Moody's confirmation on 18 December 2019 of Vietnam's Ba3 sovereign rating, and change on the same date of the sovereign rating outlook to negative from rating under review for downgrade.

The 18 affected banks are:

(1) An Binh Commercial Joint Stock Bank (ABB),

(2) Asia Commercial Bank (ACB),

(3) Ho Chi Minh City Development JSC Bank (HDBank),

(4) JSC Bank for Foreign Trade of Vietnam (Vietcombank),

(5) JSC Bank for Investment and Development of Vietnam (BIDV),

(6) Lien Viet Post Joint Stock Commercial Bank (Lien Viet),

(7) Military Commercial Joint Stock Bank (Military Bank),

(8) Nam A Commercial Joint Stock Bank (Nam A Bank),

(9) Orient Commercial Joint Stock Bank (OCB),

(10) Saigon - Hanoi Commercial Joint Stock Bank (SHB),

(11) Southeast Asia Commercial Joint Stock Bank (SeABank),

(12) Tien Phong Commercial Joint Stock Bank (TPBank),

(13) Vietnam Bank for Agriculture & Rural Development (Agribank),

(14) Vietnam International Bank (VIB),

(15) Vietnam JSC Bank for Industry and Trade (VietinBank),

(16) Vietnam Maritime Commercial Joint Stock Bank (MSB),

(17) Vietnam Prosperity Joint Stock Commercial Bank (VP Bank), and

(18) Vietnam Technological and Commercial Joint Stock Bank (Techcombank).

The ratings, assessments and outlook of Saigon Thuong Tin Commercial Joint-Stock Bank (Sacombank, Caa1 stable, caa2) are unaffected by the action, statement said.

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