On April 25, 2025, Southeast Asia Commercial Joint Stock Bank ( SeABank , HOSE: SSB) successfully held its 2025 Annual General Meeting of Shareholders, approving several important goals and plans, including: a 2025 business plan with a 7% increase in pre-tax profit, reaching VND 6,458 billion; the acquisition of shares in ASEAN Securities Joint Stock Company (ASEAN SC); and the election of additional independent members to the Board of Directors.
Achieve goals, achieve comprehensive growth.
At the General Meeting, SeABank's leadership informed shareholders about the business results for 2024 and the plan for 2025. Specifically, the bank's pre-tax profit in 2024 reached over VND 6,039 billion, achieving 103% of the plan; total assets reached VND 325,699 billion, an increase of 22% compared to 2023. The operational efficiency indicators ROA and ROE reached 1.63% and 14.75% respectively; the non-performing loan ratio was controlled at 1.89%.
At the end of 2024, SeABank's individual and consolidated capital adequacy ratios (CAR) reached 12.33% and 12.84% respectively, placing it among the banks with the highest CARs in the system. The bank also successfully issued 10 million shares under its employee stock option program (ESOP), and is expected to complete the procedures to increase its charter capital to VND 28,450 billion in Q2/2025.
SeABank's solid financial foundation enables it to refine its methodologies and comply well with the risk management safety limits stipulated by the State Bank of Vietnam (SBV) and Basel III standards. In the most recent credit rating assessment in 2024, Moody's maintained SeABank's Ba3 rating for its long-term deposit portfolio, a B1 rating for its baseline credit assessment (BCA), and a stable growth outlook.
Pioneering sustainable finance development, SeABank issued Vietnam's first blue bonds and was the first private commercial bank to issue green bonds to international financial institutions IFC and AIIB, totaling US$150 million. This capital enables SeABank to expand financing for sustainable economic activities related to oceans and water, and green sectors such as green buildings, renewable energy, and energy efficiency.
In addition to the positive business results in 2024, SeABank's leadership also shared the bank's impressive Q1/2025 business results: Pre-tax profit reached VND 4,350 billion, an increase of nearly 189% compared to the same period; total deposits reached VND 189,993 billion; total outstanding loans reached VND 213,048 billion; total assets reached VND 333,746 billion; and total net income (TOI) reached VND 5,820 billion. Furthermore, the non-performing loan ratio decreased compared to 2024, at 1.84%, due to the bank's effective credit risk control.
Strengthening capital base, expanding operations, and improving management efficiency.
Based on the achievements in 2024 and an assessment of the macroeconomic situation in 2025, the General Meeting of Shareholders of SeABank approved the business plan for 2025 with a focus on developing business by segment, controlling risks, and maintaining stable growth compared to 2024. Accordingly, the bank aims for: Pre-tax profit of VND 6,458 billion; total assets growth of 10%; deposit growth of 16%; loan growth of 15%; ROE of 13.8%; and keeping the non-performing loan ratio below 3% as per regulations.
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Election of additional independent foreign members to the Board of Directors. |
In order to achieve growth targets and strengthen financial capacity for investment to boost business and ensure operational safety, the General Meeting of Shareholders of SeABank approved a plan to issue 20 million ESOP shares to increase charter capital to VND 28,650 billion. In addition, the General Meeting of Shareholders of SeABank also approved the policy of offering/issuing shares privately and/or privately offering shares to swap debt at a maximum rate of 20% of the total number of outstanding shares at the time of offering/issuance.
Along with its capital increase plan, SeABank aims to expand its business operations with a project to acquire ASEAN Securities Joint Stock Company (ASEAN SC) as a subsidiary of the bank. This creates opportunities for the bank to diversify its products and services and distribution system, boost cross-selling, and develop investment activities.
Another important item approved at the General Meeting of Shareholders was the election of Mr. Matthew Sander Hosford (born in 1958, American nationality) as an independent member of the Board of Directors for the term 2023-2028. Mr. Matthew Sander Hosford holds a Master of Business Administration (Harvard Business School) and a Bachelor of Science (Brigham Young University), with over 35 years of experience in the prestigious international finance and banking sector, including 10 years as CEO of Santander Bank (Hong Kong) and 8 years as a senior banking expert at the International Finance Corporation (IFC).
The election of Mr. Matthew Sander Hosford as an independent member of the Board of Directors brings the total number of SeABank's Board members to eight, including two independent members and three foreign members with diverse professional backgrounds, experience, and cultures. This promotes integration and the building of a position in the international market, while creating a multi-dimensional thinking system that helps SeABank enhance its management and operational capabilities and implement a sustainable development strategy with a focus on environmental, social, and governance (ESG).
Established in 1994, Southeast Asia Commercial Joint Stock Bank (SeABank) currently serves nearly 4 million customers with 181 transaction points nationwide. With a charter capital of VND 28,450 billion, SeABank is among the important banks in the system, rated Ba3 by Moody's. The bank is a pioneer in applying the international Basel III risk management standard and pursues a "Digital Convergence" strategy, focusing on digitizing services, optimizing operations, and aiming to become the most preferred retail bank in Vietnam. |
PV
Source: https://congthuong.vn/seabank-to-chuc-thanh-cong-dai-hoi-dong-co-dong-2025-384844.html
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