S&P lifts Techcombank view to stable

S&P said it revised the outlook on Vietnam Technological And Commercial Joint Stock Bank (Techcombank) to stable from negative.

The agency also said it affirmed the bank's BB- long-term and B short-term issuer credit ratings.

S&P also said it raised the long-term Asean regional scale issuer rating on Techcombank to axBB+ from axBB following the outlook revision.

The agency also said it affirmed the axB short-term Asean regional scale rating on the bank.

The outlook revision reflects a belief that the bank will sustain an above-average profitability over the next 12 months, despite competition, S&P said.

The bank has adopted a balanced approach toward profit enhancement and risk-taking, the agency said.

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