Business

Moody assigns first-time Ba3 ratings to Vietnam’s Agribank

Moody’s Investors Service has assigned first-time Ba3 deposit and issuer ratings to Vietnam Bank for Agriculture and Rural Development (Agribank).
Moody assigns first-time Ba3 ratings to Vietnam’s Agribank ảnh 1Transaction at Agribank (Photo: VNA)

Hanoi (VNA) – Moody’s InvestorsService has assigned first-time Ba3 deposit and issuer ratings to Vietnam Bankfor Agriculture and Rural Development (Agribank).

“Agribank has made significant progress incleaning up legacy problem assets in the last five years, with materialimprovements in the second half of 2018,” the company said.

Funding and liquidity are good at Agribank, itsaid, adding that the bank is mainly funded by retail deposits, and has a lowreliance on market-sensitive funding. 

The deposit franchise is supported by the bank'sbranch network, which is the largest in Vietnam, it noted.

Agribank accounts for 50 percent of rural creditmarket share in Vietnam. It has 938 branches and 1,297 transaction officesalong with 62 mobile banks and 2,845 automated teller machines (ATM) inaddition to 46 Autobank and 20,781 point of sale (POS) locationsnationwide.-VNA 
VNA
#Moody’s Investors Service#Ba3 ratings#deposit#Vietnam Bank for Agriculture and Rural Development (Agribank)#Vietnamplus#Vietnam News Agency
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