Saigon - Hanoi Commercial Joint Stock Bank: Update following rating affirmation, outlook changed to stable

Moody's affirms Saigon - Hanoi Commercial Joint Stock Bank's B1 ratings, changes outlook to stable from positive - Rating Action – 2023/04/19 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Saigon - Hanoi Commercial Joint Stock Bank: Update following rating action - Credit Opinion – 2022/09/23 – US$ 250.00 – ...On 7 September 2022, we affirmed Saigon - Hanoi Commercial Joint Stock Bank's (SHB) B1 long-term deposit and issuer ratings. We also upgraded SHB's long term counterparty risk assessment (CRA) to Ba3(cr) from B1(cr) and its LC and FC long term counterparty risk rating (CRR) to Ba3 from B1. The outlook, where applicable, remains positive. SHB's B1 deposit and issuer ratings are one notch higher than its b2 Baseline Credit Assessment (BCA) because of our expectation of moderate level of support from Government of Vietnam (Ba2 stable). The B1 ratings reflect improvements in asset quality after the bank wrote off the Vietnam Asset Management Company (VAMC) bonds in 2021 and its improving capital and profitability helped by lower credit costs. We expect SHB's asset quality to remain stable over the next 12-18 months, as economic activities rebound in Vietnam, which will support borrowers' debt repayment capacity. SHB's funding and liquidity are moderate. The positive rating outlook reflects...

Saigon - Hanoi Commercial Joint Stock Bank: Update following upgrade to B1, outlook change to positive - Credit Opinion – 2022/05/19 – US$ 250.00 – ...Saigon - Hanoi Commercial Joint Stock Bank's (SHB) B1 long-term deposit and issuer ratings reflect improvements in SHB's asset quality after it wrote off its Vietnam Asset Management Company (VAMC) bonds in 2021, higher capital and improving profitability because of lower credit costs. We expect SHB's asset quality to remain stable over the next 12-18 months, particularly as economic activities rebound in Vietnam, which will support borrowers' debt repayment capacity. SHB's funding and liquidity are moderate. The positive outlook on the ratings reflects our expectation of further improvement in SHB's credit profile, driven by improvements in capital as it seeks to raise new capital from existing shareholders and through stake sale to foreign strategic investors. SHB's B1 deposit and issuer ratings are one notch higher than its b2 Baseline Credit Assessment (BCA) because of our expectation of moderate level of support from Government of Vietnam (Ba3 positive)....

Moody's upgrades Saigon-Hanoi Joint Stock Bank's ratings; changes outlook to positive - Rating Action – 2022/04/29 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Saigon - Hanoi Commercial Joint Stock Bank: Update following H1 2021 results - Credit Opinion – 2021/10/05 – US$ 250.00 – ...Saigon - Hanoi Commercial Joint Stock Bank's (SHB) B2 long-term deposit and issuer ratings reflect the bank's b3 Baseline Credit Assessment (BCA) and a one-notch uplift based on our assessment of a moderate probability of support from the Government of Vietnam (Ba3 positive) in times of need. Our assessment of a moderate probability of government support takes into consideration the bank's modest share of 3% each in system assets and system deposits as of the end of March 2021. SHB's b3 BCA takes into consideration its thin loss-absorbing buffers against rising asset risks because of the coronavirus pandemic. The bank has been making steady progress in resolving its legacy problem assets, but we expect credit costs to continue weighing on its profitability until its problem assets are fully resolved. SHB's funding and liquidity are moderate. In August 2021, SHB announced an agreement with Bank of Ayudhya (BAY, Baa1 stable, baa3) to sell a 100% equity stake in SHBANK Finance Company Limited...