PGBank receives first Moody's credit rating with stable outlook

Moody's assigned PGBank its inaugural credit rating, a stable outlook with a baseline credit assessment (BCA) of B1. This rating reflects the bank's individual credit strength, supported by a diverse funding structure backed by stable retail deposits. Moody's highlighted PGBank's capitalization and profitability as key factors in the assessment.

The bank's capital levels exceeded the average for similarly rated banks, and profitability improved, with return on tangible assets rising to 0.8% in the first half of 2026 from 0.5% the same period last year. This growth was partly due to increased non-interest income as PGBank diversified its revenue sources. Moody's stated that PGBank's capital and earnings provide a cushion to support the expansion of its retail banking portfolio.

The rating is a valuable independent assessment of PGBank's credit profile, potentially aiding the bank in establishing relationships with domestic and international partners. PGBank's CEO, Nguyen Van Huong, viewed the rating as a significant milestone in the bank's development, motivating the bank to further enhance its financial capacity, governance, and operating efficiency.

The bank remains committed to its sustainable development strategy, prioritizing customers while improving transparency and expanding cooperation with local and international partners. PGBank's strategy focuses on retail banking, leveraging digital transformation to serve individual customers, households, and small to medium-sized enterprises.

The bank aims to strengthen its financial position, enhance growth quality, and maintain operational stability as part of its long-term development strategy.