Moody’s also gave the bank a baseline credit assessment (BCA) of B1, reflecting its evaluation of PGBank’s standalone credit strength.
The agency cited PGBank’s diversified funding structure, supported by stable retail deposits, as a strength that helps the bank manage liquidity and meet its funding needs.
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PGBank employees serving customers. Photo courtesy of the bank |
Capitalization was another key factor in the assessment. Moody’s said PGBank’s capital levels were above the average for similarly rated banks.
The bank’s profitability has also improved, with its return on tangible assets rising to 0.8% in the first half of 2026 from 0.5% in the same period last year. Moody’s attributed the increase partly to higher non-interest income as PGBank diversified its revenue sources.
The agency said the bank’s capital and earnings provide a buffer to support the expansion of its retail banking portfolio.
The rating provides investors and financial institutions with an independent assessment of PGBank’s credit profile and could help the bank build relationships with domestic and international partners.
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PGBank headquarters in Hanoi. Photo courtesy of the bank |
Nguyen Van Huong, CEO of PGBank, described the rating as an important milestone in the bank’s development.
“The rating from Moody’s is a meaningful recognition of PGBank’s financial and operational foundation. We view it not only as a reference milestone but also as a motivation for the bank to continue strengthening its financial capacity, improving the quality of its governance, and sustaining its operating efficiency. PGBank remains committed to its sustainable development strategy, with customers at the center, while enhancing transparency and expanding cooperation with domestic and international partners,” he said.
PGBank is pursuing a retail banking strategy supported by digital transformation, targeting individual customers, households and small and medium-sized enterprises engaged in production, business and trade.
The bank said it would continue to strengthen its financial position, improve the quality of growth and maintain operational stability as part of its long-term development strategy.