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Bulletin: Bank for Foreign Trade of Vietnam Rating Unaffected By Alliance With Mizuho Corporate Bank Ltd. Sep 11
Standard & Poors, Sep 2011
Abstract
SINGAPORE (Standard & Poor's) Sept. 30, 2011--Standard & Poor's Ratings Services said today that its ratings on Bank for Foreign Trade of Vietnam (Vietcombank; BB-/Negative/B) are unchanged following the bank's capital and business alliance with Mizuho Corporate Bank Ltd. (MCB; A+/Stable/A-1). We believe that, while the capital infusion will provide immediate capital strengthening, the bank will continue to require more capital to support its high growth in loans. The alliance could also provide Vietcombank with an enhanced products and services offering, and accelerate the alignment of the bank's risk management system and processes with international best practices. However, in our opinion, the alliance may face some difficulty in execution, given the difference in risk culture and operating norms in the...
Companies mentioned in this report are: Bank for Foreign Trade of Vietnam
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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