S&P lifts Vietinbank, BIDV view to stable

Standard & Poor's said it revised the outlooks on Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and Bank for Investment and Development of Vietnam (BIDV) to stable from negative.

S&P also said it affirmed the B+/B issuer credit ratings on both the banks. The agency also said it revised the Asean scale ratings on Bank for Investment and Development of Vietnam to axBB/axB from axBB-/axB.

The agency also said it revised the outlook on the two banks following a similar sovereign rating action on Vietnam.

The ratings reflect the banks' high systemic importance in Vietnam's banking system and an assessment of a highly supportive government, which qualifies for a one-notch rating uplift from the banks' stand-alone credit profile of B, S&P said.

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