In the first 6 months of the year, SeABank achieved a profit of more than 3,238 billion VND

Southeast Asia Commercial Joint Stock Bank ( SeABank ) announced its business results for the first 6 months of 2024 with pre-tax profit reaching more than VND 3,238 billion, an increase of 61% over the same period in 2023.

Thanks to flexible business redirection, focusing on digital technology and diversifying products and services, in the first 6 months of 2024, SeABank continued to have strong and stable growth compared to the same period in 2023. Specifically, consolidated pre-tax profit reached more than VND 3,238 billion, up nearly 61% over the same period; total net income (TOI) reached VND 6,011 billion, up 43% over the same period. SeABank's non-interest income (NOII) also recorded an impressive growth of 39% over the same period, reaching VND 1,268 billion, equivalent to 21.1% of total net revenue. Performance indicators all had good growth compared to the same period, such as ROE at 16.38% and ROA at 1.88%.

At the end of the first 6 months of the year, SeABank's total mobilization of deposits and valuable papers reached VND 160,926 billion, a net increase of VND 16,139 billion compared to the same period last year. In particular, the balance of demand deposits (CASA) increased sharply to VND 20,038 billion, up 59% over the same period last year and accounting for 13.4% of total mobilization. SeABank's total outstanding customer loans reached VND 185,959 billion, of which green credit and outstanding green credit loans increased by 40% over the same period last year. Thanks to proactively using resources effectively to control and recover overdue debts, SeABank always ensures safe operations with the bad debt ratio controlled at 1.91%.

As of June 30, 2024, SeABank's total assets were VND 280,658 billion and the bank's charter capital was VND 24,957 billion. Currently, the bank is also implementing a plan to issue 329 million shares to pay dividends in 2023, issue 10.3 million shares to increase equity capital from equity capital equivalent to a total dividend payment ratio to shareholders of nearly 14%, thereby increasing the bank's charter capital to VND 28,350 billion.

In the first 6 months of the year, SeABank continued to receive the trust and cooperation of prestigious international financial institutions, helping the bank improve its financial capacity as well as diversify its products and services, thereby having more capital to support individual customers and SMEs as well as improving customer experience. The bank has successfully mobilized 255 million USD from international financial institutions, including: The Norwegian Investment Fund (Norfund) - the Norwegian Government 's investment fund for developing countries - providing a convertible loan of 30 million USD to supplement capital to support SMEs, individual customers and micro-enterprises in Vietnam; SeABank also issued blue bonds, green bonds and received an investment of 75 million USD from the International Finance Corporation (IFC) and 75 million USD from the Asian Infrastructure Investment Bank (AIIB). In addition, IFC also provided a $75 million loan to SeABank to increase lending to small and medium-sized enterprises, including women-owned businesses, to promote financial inclusion.

With its achievements in the past year and its contributions to the country, community and society, SeABank was honored to receive the First Class Labor Medal from the President and has been recognized by many international organizations. Specifically, Forbes magazine honored SeABank as one of the World's Best Banks 2024; CNBC TV channel honored SeABank as the Best Bank in Asia - Pacific 2024; Fortune magazine (USA) honored SeABank in the Fortune Southeast Asia 500 Ranking - 500 largest enterprises in Southeast Asia...

Source: https://vietnamnet.vn/6-thang-dau-nam-seabank-dat-loi-nhuan-hon-3-238-ty-dong-2304839.html