Moody's Ratings upgrades Military Commercial Joint Stock Bank's deposit ratings to Ba2 from Ba3; outlook stable

Vietnam, May 6, 2026 – Moody’s Ratings (Moody’s) has announced an upgrade of the local currency and foreign currency long-term deposit and issuer ratings for Military Commercial Joint Stock Bank (MB; HoSE: MBB) from Ba3 to Ba2, aligning with Vietnam’s sovereign rating (Ba2 positive). The outlook remains "Stable."

Moody’s also affirmed MB’s Baseline Credit Assessment (BCA) at ba3, reflecting a positive evaluation of the bank's financial strength, operational efficiency, and sustainable growth prospects.

According to Moody’s, the upgrade is underpinned by MB’s above peer-average profitability, supported by improving deposit franchise. MB's deposit franchise has strengthened, accounting for around 5% of system-wide deposits as of 31 December 2025, up from 3% in 2021.

Moody’s also uplifted the government support for MB from “Moderate” to “High”, reflecting the bank’s growing systemic importance. MB’s links to the government have strengthened, as reflected in its major shareholders being state owned enterprises, which collectively held a 48% stake as of end-2025.

The upgrade to Ba2 is a significant milestone for MB, strengthening the confidence of customers, investors, and international partners. It also provides the bank with greater strategic headroom to expand business operations, enhance international funding capabilities, and maintain MB’s position among Vietnam’s most efficient financial institutions.

By the end of Q1/2026, MB recorded robust business results with total consolidated assets exceeding VND 1.61 quadrillion. MB has also consistently adhered to a prudent and disciplined risk management strategy, maintaining high prudential requirements.

MB’s growth momentum is further driven by a rapidly expanding customer base and a comprehensive digitalization strategy. The bank serves over 36 million customers and records massive transaction volumes across its digital platforms, reinforcing its position as a leading financial institution in Vietnam’s digital transformation journey.

Source: Vietnam Business Forum