MOODY’s affirms B1 Rating For SeABank

Update: 10:33 | 11/10/2019
On October 10, 2019, Moody's - one of the three most prestigious credit institutions in the world announced the results of B1 long-term rating for Southeast Asia Commercial Joint Stock Bank (SeABank).
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seabank assigned first time b1 ratings by moodys
(Photo: SeABank)

This is the first time Moody’s has rated SeABank's credit rating, reflecting the Bank's good financial capacity and development opportunities.

As announced by Moody’s, SeABank is ranked B1 long-term rating in the following categories: Short-term and long-term local and foreign currency deposits; Short-term and long-term local and foreign currency issuer; Short-term and long-term local and foreign currency counterparty risk; Short-term and long-term counterparty risk assessments; and the Baseline credit assessment (BCA) to B2. Factors such as equity, profit, solvency, asset quality, capital, liquidity ... contributed significantly to the positive evaluation results for SeABank this time.

SeABank's business results are showing positive growth. In the first 6 months of 2019, SeABank has recorded impressive results, including: (i) Total assets reached nearly 150 trillion VND, an increase of 6.1% compared to the beginning of the year; (ii) Total outstanding loans reached 95,219 billion VND, up 8.2% compared to the beginning of the year. (iii) Net revenue grew significantly, especially service revenue grew 247% over the same period last year. (iv) Profit before tax reached 409 billion VND, an increase of 57.4% over the same period last year.

In September 2019, SeABank completed plan to increase authorized capital from 7,688 billion VND to 9,369 billion VND through the issuance of additional shares. The increase of cuthorized capital is in the SeABank’s development plan, which was approved by the General Meeting of Shareholders at the Annual General Meeting of SeABank in 2019 in order to make SeABank become the most favorite retail bank. . With new charter capital, SeABank is among the 15 banks with the largest chartered capital in Vietnam.

At present, SeABank has 165 transaction points across 3 regions of the country. SeABank is known as one of the pioneers in constantly innovating and creating products and services to provide the best and most competitive personal financial services to customers. SeABank is serving more than 1 million individual and corporate customers with a wide range of financial services, utilities and modern.

Customers interested in SeABank's programs and products and services can contact the nearest SeABank’s transaction offices nationwide, call Contact Center 1900 555 587 or visit the website www.seabank.com.vn for information. More details and advice.

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