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Bank for Foreign Trade of Vietnam Feb 08
Standard & Poors, Feb 2008
Abstract
Strong business position in the domestic banking industry, and Government support given its systemic importance to Vietnam. Modest profitability, and Weak, though improving, asset quality and capitalization by international standards. The ratings on Vietcombank (also known as Bank for Foreign Trade of Vietnam) reflect its strong business position in the domestic banking industry and expectations of extraordinary government support, given the bank's systemic importance to Vietnam (foreign currency BB/Stable/B; local currency BB+/Stable/B). However, these strengths are partially offset by Vietcombank's modest profitability and its weak, though improving, asset quality and capitalization by international standards. Vietcombank is the second-largest bank in the country accounting for 18% of the system's assets, and is wholly owned by Vietnam's central bank, the State Bank...
Companies mentioned in this report are: Bank for Foreign Trade of Vietnam,BNP Paribas
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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