Moody's keeps VPBank’s ratings unchanged

Moody's keeps VPBank’s ratings unchanged. (Photo: VNA)

Hanoi (VNA) –Moody's Investors Service (Moody's) has maintained the Ba3 ratings and stable outlookfor the Vietnam Prosperity Joint Stock Commercial Bank(VPBank).

The rankings have been maintained sinceJuly 2022 although the domestic and global financial markets have faced manydifficulties and challenges.

In its latest report,Moody’s highly valued the bank’s deal to sell its 15%stake to Japan’s Sumitomo Mitsui Banking Corporation (SMBC), raising itscapital safety rate to 19%, the highest among the Vietnamese banks rated by Moody’s.

Moody's said that VPBank's profits are always in thetop of the industry, which is considered a strength of the bank in its creditrating profile.

Meanwhile, VPBank's mobilisation capacityand liquidity are considered to be balanced in the current situation, capableof supporting the bank to overcome difficult times when the market is fluctuating.

At the end of 2022, VPBank's charter capitalreached over 67 trillion VND (2.85 billion USD), while its capitalised value hit 120 trillionVND, maintaining its position as the private bank with the largest capitalisedvalue in Vietnam./.

VNA