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CTG:Strong position of VietinBank in the financial market of Vietnam.

Saturday - 07/07/2018 20:54
Fitch upgraded credit rating of VietinBank to "BB-" with stable outlook
Fitch Ratings has announced the upgrading of long-term issuer debt rating (IDR) and rating of VietinBank's supported ability to "BB-" from "B +" with stable outlook.

Prior to that, on 14/5/2018, Fitch Ratings upgraded the credit rating of Vietnam to "BB" from "BB-" with stable outlook. Fitch notes that VietinBank is one of the most important banks in Vietnam's financial and banking system.

In the first quarter of 2018, business activity continued to grow positively, total outstanding loans increased 3.9% as compared to 31/12/2017, reaching VND 870 trillion, higher than the credit growth of the whole industry is 3.5%. Mobilized capital continued to grow over VND 1 trillion, mainly due to good market growth of 4.8% over the beginning of the year, meeting the demand for active growth business dynamics. Profit before tax increased 19% y / y to VND3,028 billion, ROA and ROE were respectively 1.11% and 15.23%.

Fitch Ratings upgrades VietinBank's reputation once again confirms VietinBank's strong position in Vietnam's financial market.

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