The six banks are Asia Commercial Joint Stock Bank, JSC Bank for Foreign Trade of Vietnam (Vietcombank), JSC Bank for Investment and Development of Vietnam (BIDV), Vietnam Bank for Agriculture & Rural Development (Agribank), Vietnam JSC Bank for Industry and Trade (Vietinbank) and Vietnam Prosperity Jt. Stk. Commercial Bank (VPBank).

The rating actions follow the affirmation of Vietnam's Ba2 rating and the change in outlook to positive from stable.

The affirmation of ACB's Ba3 long-term deposit ratings and ba3 Baseline Credit Assessment (BCA) reflects its strong asset quality, low concentration to large borrowers and stable capital, funding and liquidity.

The change in outlook to positive from stable reflects the change in the sovereign rating outlook to positive and the potential for one notch of uplift from the bank's ba3 BCA based on Moody's assumption of a moderate probability of government support in times of need.

Vietcombank's affirmed Ba2 long-term deposit ratings and ba2 BCA are supported by the bank's strong profitability and asset quality. The bank's strong funding which is underpinned by its large and stable deposit base help balance its modest liquidity. The change in outlook to positive from stable reflects the change in the sovereign rating outlook to positive and the potential for one notch of uplift from the bank's ba2 BCA.

For BIDV, the affirmation of Ba2 long-term deposit ratings and b1 BCA reflects the bank's modest capitalisation, asset quality risks related to single-party concentration in loans and above peer average special mention loans ratio. The bank's strong funding, which is underpinned by its large and stable deposit base that helps balance its modest liquidity. The change in outlook to positive from stable reflects the change in the sovereign rating outlook to positive and the potential for three notches of uplift from the bank's b1 BCA.

Moody’s also affirmed Agribank’s Ba2 long-term deposit ratings and b1 BCA, citing the bank’s modest capitalisation, stable asset quality and profitability. Its strong funding profile, supported by a large and diversified deposit base, remains a key credit strength. The outlook was revised to positive from stable, reflecting the sovereign rating outlook upgrade and the potential for a three-notch uplift from the bank’s b1 BCA.

The affirmation of VietinBank’s Ba2 long-term deposit ratings and b1 BCA reflects the bank’s strong loan loss coverage, which helps mitigate asset quality risks arising from rapid loan growth. The BCA also takes into account the bank’s modest capitalisation. While liquidity remains modest, this is offset by strong funding backed by a large and stable deposit base. The outlook was revised to positive from stable, reflecting the sovereign rating outlook upgrade and the potential for a three-notch uplift from the bank’s b1 BCA.

Similarly, Moody’s affirmed VPBank’s Ba3 long-term deposit ratings and ba3 BCA, supported by improving asset quality, strong profitability and stable funding. However, rapid credit growth continues to create unseasoned risk and pressure on capital, while liquidity remains modest. The outlook was revised to positive from stable, reflecting the sovereign rating outlook upgrade and the potential for a one-notch uplift from the bank’s ba3 BCA.