FiinRatings assigns a “AAA” Credit Rating to Bond VCB12501 issued by Vietcombank

On 11 December 2025, FiinRatings – a strategic partner of S&P Global – announced the credit rating result for Bond VCB12501 issued by the Joint Stock Commercial Bank for Foreign Trade of Vietnam (“Vietcombank”).

Vietcombank is assigned an Initial Issuer Credit Rating of “AAA” with a “Stable”rating outlook by FiinRatings. Accordingly, Bond VCB12501 is rated “AAA”, directly reflecting Vietcombank’s superior and industry-leading credit strength. This is an unsecured, non-convertible, and non-warrant bond issued by Vietcombank.

The “AAA” bond rating reflects FiinRatings’ assessment of Vietcombank’s leading business position, solid capital foundation, strong asset quality, as well as its exceptional funding capability and liquidity within the Vietnamese banking sector. Under FiinRatings’ rating methodology, for debt instruments ranking pari passu with other financial obligations and without guarantees or collateral, the bond rating is determined to be equivalent to the issuer’s credit rating.

Bond VCB12501 is the first sustainable bond in Vietnam to be assigned a credit rating by FiinRatings, marking a significant development in integrating sustainability-linked debt instruments into an independently assessed and standardised credit risk evaluation framework in the domestic capital market.

Bond VCB12501 has a total issuance value of VND 2,000 billion, a 2-year tenor, and a fixed coupon rate of 5.80% per annum. According to the issuance plan, the proceeds will be used by Vietcombank to provide lending to customers under the sustainable bond framework, in line with the Bank’s sustainability strategy and credit orientation.

Disclaimer: Credit-related and other analyses, including ratings, and statements in the Content are statements of opinion as of the date they are expressed and not statements of fact. FiinRatings’ opinions, analyses, and rating acknowledgment decisions are not recommendations to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security.