Danang Hi-Tech Park
VSIP
Hapro

Finance & Banking

Last updated: Tuesday, November 20, 2018

 

Moody's Upgrades HDBank Rating to B1

Posted: Wednesday, November 07, 2018


Moody's Investors Service upgraded the long-term local and foreign-currency deposit and issuer ratings for the Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) to B1. The ratings outlook is stable.

Moody’s also raised HDBank’s baseline credit assessment (BCA) rating by one level. The lender’s long-term counterparty risk rating (CRR) and counterparty risk assessments (CRA) have been kept at B1.

This upgrade from Moody’s reflects HDBank’s big improvements in capacity, capital and profits. This result also illustrates Moody’s expectations on Vietnam’s good economic growth that will help raise the asset quality and profitability of HDBank in the coming time.

The upgrade of Moody’s credit ratings came shortly after HDBank announced its consolidated earnings for the first nine months of 2018. The lender posted its pre-tax profit of VND2,884 billion (US$128 million), up 50.8 per cent year on year and equal to 73.3 percent of the full-year profit plan. The bank sustained its return on equity (ROE) ratio at 20.1 per cent. Its capital adequacy ratio (CAR) reached 13.6 per cent, while non-performing loans were capped at one per cent.

As of September 30, 2018, HDBank’s total assets reached VND199.38 trillion (US$8.5 billion) and its equity capital was VND15,955 billion. Its registered capital reached VND9,810 billion. The bank is running 279 banking transaction offices and 13,168 financial transaction points nationwide.

PV








Other news





vietnam-autoexpo
vietnam-ete
www.vietnammanufacturingexpo.com
Metalex
NEV
Sunny World Property Development Corporation
Tong cu DL