Aug 21, 2023: Moody’s maintain LPBank’s credit rating

On August 15, 2023, international credit rating organization Moody’s Investors Service (Moody’s) announced the latest credit rating assessment results for Lien Viet Post Joint Stock Commercial Bank (LPBank). Accordingly, Moody’s continues to maintain LPBank’s long-term deposit/long-term issuer rating at B1 with Stable Outlook.

Moody’s maintained the B1 rating, Stable Outlook for the Issuer and long-term domestic/foreign currency deposits category for LPBank.

Moody’s latest assessment of LPBank was based on the Bank’s 2022 business results and 2023 business plan. Specifically, Moody’s maintained the B1 rating, Stable Outlook in the issuer and long-term domestic/foreign currency deposits category of LPBank’s. In addition, LPBank’s Long-term Counterparty Risk criteria in domestic/foreign currency and Long-term Counterparty Risk Assessment criteria were also maintained at Ba3 by Moody’s.

Maintaining LPBank’s ratings shows Moody’s expectations for the Bank’s operations, including indicators of capital, asset quality, profitability and liquidity ratio.

The period of which Moody’s evaluated and announced LPBank’s credit rating was in the context of many challenges in the domestic and international markets, as well as fluctuations in the banking industry in Vietnam. This further demonstrates LPBank’s efforts in increasing capital scale, improving asset quality, enhancing risk control and the Bank’s profitability.

In the second quarter of 2023, LPBank’s profit before tax reached VND 880 billion, accumulated profit before tax in the first 6 months of the year was VND 2,446 billion, completing 41% of 2023 profit’s plan. With internal strengths and a strategy of innovation, creativity, and comprehensive development, LPBank will exploit business opportunities through new programs and products, especially key products such as Loans for production, loans for agricultural and rural development with preferential and competitive interest rates in the market.

In addition to maintaining the credit rating according to Moody’s assessment, LPBank was also recently ranked 33/100 Most Valuable Brands in Vietnam 2023 by Brand Finance – the world’s leading organization in brand valuation, with brand value of USD 248.84 million, brand rating of AA-, and brand strength index of 65.34 points.