... Issuer Default Rating (IDR) of Joint Stock Commercial Bank For Foreign Trade of Vietnam (Vietcombank) is one notch lower than Vietnam's sovereign rating. Fitch Ratings believes the state's ability to provide timely support would be constrained by weak, but improving, finances and the large banking system relative to GDP. However, we believe the state's propensity for support remains strong due to Vietcombank's high systemic importance, majority state ownership and quasi-policy functions. Improving Impaired Loan Metrics: The bank's Viability Rating was upgraded to 'b' from 'b-' in view of the banking system's enhanced operating environment which, along with strong retail loan growth, has reduced the bank's problem loan ratio...
