Credit Rating Result
Hanoi, 22 April 2026 - Vietnam Investors Service And Credit Rating Agency Joint Stock Company (VIS Rating) has withdrawn A- long-term issuer rating and BBB+ subordinated debt ratings of Vietnam Asia Commercial Joint Stock Bank (VAB).
The rating presented in this announcement is effective from the date of the announcement and remains in effect unless and until it is superseded by a subsequent rating action. Please visit https://visrating.com/rating-results to obtain the latest update on the rating.
Rating rationale
We have decided to withdraw the ratings following a review of the issuer’s request to withdraw its ratings.
Prior to the rating withdrawal, the rating outlook was stable.
Established in 2003, VAB is a small-sized, privately-owned commercial bank with a 0.7% share of total deposits at end-2025.
Factors That Could Lead to an Upgrade/Downgrade
Rating methodology
Financial Institutions Rating Methodology.
For more detailed information, please refer to our full credit rating methodology at: here
Credit rating history
| Date | Rating type | Rating | Bond code | Maturity | Outlook | Action |
|---|---|---|---|---|---|---|
| 22 April 2026 | Subordinated debt rating | WR | VABCLH2330001 | 7 years | - | Rating withdrawn |
| 22 April 2026 | Subordinated debt rating | WR | VABCLH2431001 | 7 years | - | Rating withdrawn |
| 22 April 2026 | Long-term Issuer rating | WR | - | 7 years | - | Rating withdrawn |
| 12 June 2025 | Subordinated debt rating | BBB+ | VABCLH2330001 | 7 years | Stable | First-time assignment |
| 12 June 2025 | Subordinated debt rating | BBB+ | VABCLH2431001 | 7 years | Stable | First-time assignment |
| 22 April 2025 | Long-term Issuer rating | A- | - | - | Stable | First-time assignment |
Regulatory disclosures
For further specification of VIS Rating's Rating Symbols and Definitions, please see: here
VAB’s ownership stake in VIS Rating: 0%
The ownership ratio of VAB held by VIS Rating’s staff: 0%
Cases in which analysts and credit rating council members cease their participation in the credit rating contract before the contract expires and the reason for the cessation: 0
VIS Rating adheres to a stringent independence policy by current regulations governing the provision of credit rating services in Vietnam. This commitment extends to compliance with our conflicts-of-interest policy, aiming to uphold objectivity and independence when expressing opinions on credit ratings.
The rating has been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.
This rating is solicited.
Regulatory disclosures contained in this rating announcement apply to the credit rating and, if applicable, the related rating outlook or rating review.
Please see https://visrating.com for any updates on changes to the lead rating analyst and to the VIS Rating's legal entity that has issued the rating.
Please see the rating tab on the issuer/entity page on https://visrating.com for additional regulatory disclosures for each credit rating.
Analyst & Committee
Primary Analysts
Rating Committee Members
Credit Rating Announcement Number
Public credit rating announcement no: VN0302963695-004-220426
Disclaimer
VIS Rating’s credit ratings, assessments, other opinions, and publications are not intended for use by non-professional investors and it would be reckless and inappropriate for non-professional investors to use VIS Rating’s credit ratings, assessments, other opinions or publications when making an investment decision. If in doubt you should contact your financial or other professional adviser.