On September 16, 2020, the international credit rating agency Standard & Poor's Global Ratings announced that Eximbank's long-term partner credit rating was maintained at B+ with a "stable" outlook, unchanged from the rankings announced in September 2019.

The assignment of long-term partner credit rating B+, short-term B and "Stable" outlook is S&P Global's recognition of Eximbank's restructuring efforts, shown through selective growth rate, concurrent while making efforts to gradually reduce outstanding bad debts, improve asset quality and maintain high capitalization and good liquidity, while also reflecting the bank's position in the mid-range private banking system in Vietnam. Vietnam. The "stable" outlook shows that, in the next 12 - 18 months, S&P expects Eximbank to continue to maintain improved growth and stable profits in the process of gradually reducing outstanding assets and improving operating performance.


Mr. Nguyen Canh Vinh - Acting General Director of Eximbank shared: "In the context of the Covid-19 epidemic negatively impacting the global economy in general and Vietnam in particular, S&P Global Ratings maintains the credit rating unchanged. For Eximbank, it is a positive assessment of the bank's transformation and adaptation efforts in the new context, especially the good control of existing risks with continuous improvements in operations and long-term growth prospects. stable term. In the coming time, the bank will continue to strongly deploy strategic initiatives, reorient operations according to existing strengths to serve customers better, restructure effectively, and restore profits. post-epidemic benefits. Above all, Eximbank will continue to seriously implement the directions of the Government and State Bank in supporting businesses and stabilizing the country's economy."

Eximbank branch  Sài Gòn.
According to Mr. Canh Vinh, Eximbank has updated S&P with its orientations not to loosen risk quantification or lower credit standards, only selecting safe segments and dispersing risks for growth. At the same time, the bank has also restructured its customer portfolio, reducing the influence of trading customer groups that require high interest rate mobilization or low interest rate loans (lower than banks' cost of capital). The bank's liquidity is better, so Eximbank has also proactively reduced the need to receive capital in the secondary market. The overall impact of this group of proactive structural actions in the context of the economy being affected by the epidemic in the first 6 months of the year has caused total bank assets to decrease by over 10%.

In return, Eximbank has a healthy balance sheet structure and a more sustainable and effective customer portfolio: The number of SME customers has increased by nearly 1,000 customers, increasing its residential mobilization portfolio with the small and medium segment. - increased by more than 24,000 customers. Eximbank has reduced the average deposit interest rate by 0.55% in the first half of 2020, this is a source of compensation for the bank to reduce lending interest rates for customers, sharing difficulties with customers in need. must restructure and maintain NIM as in 2019. The bank's operational safety and liquidity indicators are still maintained firmly at a good level, ensuring a defensive cushion for Eximbank against any unexpected situations. of the economy: average LDR rate is 81-82%, CAR TT41 hovers around 12% compared to the requirement of 8%.

With reasonable business structure adjustments, as of August 31, 2020, the scale of Eximbank's total assets increased again by 2.7%, capital mobilization from economic organizations and individuals increased by 2.6%. compared to June 30, 2020. At the same time, the bank has deployed service activities to increase income from non-interest lending activities such as: Bancassurance, credit card development, cross-selling on existing customer portfolios and business activities. Foreign currencies contributed to non-interest income in the first 8 months of 2020 increasing by 22% over the same period. In addition to maintaining NIM and reducing network and operational optimization costs, Eximbank will achieve its profit target from core business activities in 2020.

The above factors are the basis for S&P Global Ratings to maintain the long-term partner credit rating B+, short-term B and "Stable" outlook for Eximbank in the context of the general economy still having many difficulties and challenges. due to the current Covid-19 epidemic.

Previously, the Asian Development Bank (ADB) also announced granting a trade finance limit and a revolving credit limit to Eximbank with a total limit value of up to 31 million USD. ADB's trade finance limit granted to Eximbank will help significantly enhance Eximbank's strength in international payments, trade finance and create better conditions for Eximbank to meet more trade finance needs. customer's trade.