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Bank for Investment and Development of Vietnam Aug 10
Standard & Poors, Aug 2010
Abstract
Weak capitalization Mediocre funding profile Weak asset quality, by international standard Expected government support Strong domestic market position The 'BB' foreign currency long-term counterparty credit rating on Bank For Investment And Development of Vietnam (BIDV) reflects a two-notch uplift over the bank's stand-alone credit profile. This is to factor in potential extraordinary support from the government of Vietnam (foreign currency BB/Negative/B; local currency BB+/Negative/B; ASEAN scale axBBB/--/axA-2), if the bank faces financial distress, given BIDV's systemic importance and majority government ownership. However, the uplift does not fully reflect our expectation of potential extraordinary support because we do not rate any bank in Vietnam above the foreign currency sovereign credit rating. The stand-alone credit profile reflects BIDV's weak capitalization, mediocre funding...
Companies mentioned in this report are: Bank for Investment and Development of Vietnam,Socialist Republic of Vietnam
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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