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FACTBOX-Moody's cuts ratings of six Vietnamese banks

Published 12/15/2010, 05:30 AM
Updated 12/15/2010, 05:32 AM

Dec 15 (Reuters) - HANOI, Dec 15 (Reuters) - Moody's Investors Service cut the foreign currency deposit ratings of six Vietnamese banks to B2 from B1 with a negative outlook on Wednesday, after cutting the country's sovereign rating.

Moody's also lowered by one to two notches the Baseline Credit Assessments and the associated Bank Financial Strength Ratings of all six banks, it said in a statement.

All the banks are based in Hanoi, except for the Asia Commercial Bank which has its headquarters in Ho Chi Minh City, Vietnam's commercial centre.

The move came after Moody's lowered Vietnam's sovereign bond rating to 'B1' from 'Ba3' and the foreign currency bank deposit ceiling to 'B2' from 'B1' on Wednesday. [ID:nSGE6BE06I]

The following are key details of the lenders, including their latest assets and registered capital (in billion dong) and the foreign ownership ratio (if applicable).

NAME RIC DATE ASSETS REG. CAPITAL Asia Commercial Bank 09-10 177,944.0 7,814 - 15 percent owned by Standard Chartered Plc . Bank for Investment and Development of Vietnam (BIDV) 02-10 285,454.0 14,091 -- fully owned by the state. Military Commercial Bank 06-10 91,800.0 5,300 Saigon Hanoi Bank 11-10 48,000.0 3,498 Technological & Commercial Bank (Techcombank) 06-10 107,910.0 6,932 -- 20 percent owned by HSBC Holdings Plc . Vietnam International Bank 09-10 70,000.0 4,000 -- 15 percent owned by Commonwealth Bank of Australia . ($1=19,498 dong) (Compiled by Ho Binh Minh; Editing by Lincoln Feast) (Created by Lincoln Feast)

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