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Moody’s Ratings has upgraded MB’s long-term deposit rating and issuer rating from Ba3 to Ba2, aligning with Vietnam’s country ceiling. The outlook is maintained at “Stable.”
Moody’s also kept MB’s Baseline Credit Assessment (BCA) at Ba3, reflecting a positive assessment of the bank’s financial strength, operating efficiency, and sustainable growth prospects.
In its assessment, Moody’s said the upgrade is supported by sustained profitability at a high level relative to many banks of similar size, alongside a strengthening funding base.
Moody’s cited improvements in MB’s funding profile and market standing. As of the end of 2025, MB’s market share of deposits rose to about 5% of the system, up from about 3% in 2021.
The agency also assessed that government support for MB increased from “Moderate” to “High,” reflecting the bank’s growing importance in the financial system.
Ownership structure remains another supportive factor in MB’s credit profile. Moody’s noted that state-related shareholders hold around 48% of the bank, with ownership by state-owned enterprises at approximately this level at the end of 2025.
Moody’s said the upgrade to Ba2 is meaningful for MB in strengthening confidence among customers, investors, and international partners. The rating improvement is also expected to provide additional latitude for expanding business, boosting funding in international markets, and maintaining a leading position among Vietnam’s top-performing financial institutions.
As of Q1 2026, MB reported positive business results, with consolidated assets exceeding VND 1.61 quadrillion. The bank also maintained a cautious risk management approach, with high safety indicators.
Moody’s attributed MB’s growth momentum to a rapidly expanding customer base and a comprehensive digitalization strategy. The bank has served more than 36 million customers and recorded substantial transaction volumes on its digital platforms, reinforcing its position among leading financial institutions in Vietnam for digital transformation.
MB was established in 1994 and is one of Vietnam’s leading commercial banks. It operates across retail banking, corporate banking, investment banking, and digital financial services. MB serves over 36 million customers domestically and abroad through an extensive network and a growing digital ecosystem.
The bank states it remains committed to sustainable growth, innovation, and financial inclusion, while integrating ESG standards into its business operations to support Vietnam’s economic development and the green transition.
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