VIS Rating's report says domestic credit ratings for Vietnamese bank bonds remain limited, even though banks are the largest issuers, accounting for about 46% of outstanding corporate bond value as of end-September 2026. At end-2025, only 2 of 28 commercial banks analysed had domestically rated bonds, about 7%, compared with roughly 60% in Thailand and above 75% in Malaysia, South Korea and China. Overall, only about 12% of outstanding corporate bond value is domestically rated, versus 96% in Thailand. Mandatory rating rules do not cover most bank bonds: public offerings of bank bonds are exempt, and privately placed bonds sold only to institutional investors are not mandatory either. VIS Rating says broader ratings would help investors compare risk across the largest bond issuers.
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Original headline: Xếp hạng tín nhiệm trái phiếu ngân hàng Việt Nam còn hạn chế, nhà đầu tư khó định giá rủi ro
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Related tickers and likely impact
VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/28/2026 | 1,766.65 |
| Change that session | +0.27% |
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