VIB’s independent credit ability rated E+ by Moody’s

Vietnam International Commercial Joint Stock Bank (VIB) is ranked E+, equivalent to b2 class in long term scale by Moody’s Investors Service’ (Moody’s) ranking opinion on August 06, 2012.

This rating reflects the variation in the operating environment of VIB, as well as declining asset quality on both indicatiors of identified bad debts and potential bad debts and low provision rate for loan loss.

Moreover, VIB is focusing on increasing its market shares in a strongly competitive market, which will raise the risks and put pressures on the bank’s asset quality in the next few months.

Most recently, Moody’s rated VIB on December 15, 2010. Moody’s downgraded VIB’s bank financial strength rating (BFSR) over baseline credit Assessments (BCA) from D-/Ba3 with stable expectation to E+/B2

Before VIB, Moody’s ranked Military Joint Stock Bank (MBB) with level E+.

 

Category: Finance