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Moody's places ratings of 17 Vietnamese banks under review for downgrade

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Moody's places ratings of 17 Vietnamese banks under review for downgrade

Moody's on Oct. 10 put some of the ratings of 17 Vietnamese banks on review for downgrade, a day after taking a similar action on Vietnam's Ba3 sovereign rating.

The banks are An Binh Commercial JSB, Asia Commercial Joint Stock Bank, Ho Chi Minh City Development JSCB, JSCB for Foreign Trade of Vietnam, or Vietcombank, JSCB for Investment and Development of Vietnam, or BIDV, LienViet Post Joint Stock Commercial Bank, Military Commercial JSB, or Military Bank, Nam A Commercial JSB, Orient Commercial JSB, or Orient Bank, Saigon - Hanoi Commercial JSB, Tien Phong Commercial JSB, or TPBank, Vietnam Bank for Agriculture & Rural Development, or Agribank, Vietnam International Commercial JSB, or VIB Bank, Vietnam Joint Stock Commercial Bank for Industry & Trade, or VietinBank, Vietnam Maritime Commercial JSB, or Maritime Bank, Vietnam Prosperity JSCB or VP Bank, and Vietnam Technological and Commercial JSB, or Techcombank.

The rating agency said it also placed on review for downgrade the baseline credit assessments and adjusted BCAs of four of the banks, and the long-term counterparty risk assessments of nine banks.

Moody's said the review is driven solely by the sovereign rating action, and does not reflect a weakening in the stand-alone financial profiles of the banks.