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Recently, Moody’s (global credit rating firm) has assigned the first time ratings of B3 to Vietnam Prosperity Bank (VPBank) with a stable outlook.


According to Moody’s, the rating on VPBank deposit in VND is at B3, equivalent to Moody’s ratings of BIDV, Vietinbank, MB, ACB, Techcombank, Sacombank. Regarding rating on foreign currency deposit, Moody’s assigns VPBank at B3, equivalent to the ratings of MB, ACB, Techcombank, Sacombank.
The bank financial strength rating (BFSR) is at E and baseline credit assessment (BCA) at Caa1, equivalent to 7 leading banks in Vietnam on Moody’s rating list.
Moody’s ratings are based on the recognition of VPBank’s success in growth strategies in retail banking and small and medium enterprises (SME). According to Moody’s, the retail banking segment in Vietnam has great potential to thrive and bring good profit to the bank. Besides, with this development orientation, VPBank lowers credit risks from the state-owned enterprises (SOEs) as assessed by Moody’s, loans of these enterprises at VPBank are the lowest among credit institutions.
Moody’s has positive assessment of the implementation of centralized credit at VPBank. According to Moody’s analysis, the potential risks of VPBank asset quality will be reduced thanks to the efforts ​​to modernize risk management, including upgrading information technology infrastructure, applying credit scoring system for customers in the retail and SME markets. Moody’s believes that these improvements will help VPBank have a clearer view on their asset quality, provide solutions and adjust credit standards appropriately.

VPBank leadership said: “Following the growth strategy with a focus on retail banking and SME segments, VPBank has implemented comprehensive transition projects across the whole system for the last 3 years with the support of the leading strategy consulting firm McKinsey. By the end of 8/2013, VPBank’s equity reached over VND 7 trillion with a network of over 200 business units in 33 provinces nationwide. VPBank’s total assets of over VND 113 trillion position itself as one of the joint-stock commercial banks with the largest total assets in Vietnam. With the continuing efforts recently as well as quite positive assessment from Moody’s, VPBank affirms that the goal to become one of the 5 leading joint-stock commercial banks, and one of the 3 leading retail joint-stock commercial banks in Vietnam will be achieved soon.”