
Hanoi – The Southeast Asia Commercial Joint Stock
Bank (SeABank)’s pre-tax profits exceeded 2.01 trillion VND (over 85 million USD),
with total outstanding loans of nearly 162 trillion VND, up 5.15% compared to
December 31, 2022, according to the bank’s financial statement.
SeABank saw a gain of nearly 6% over the end of last year in total
assets to over 245.2 trillion VND (10.4 billion USD).
Thanks to the bank’s good management of credit risks amid economic
challenges, its non-performing loan ratio remained at a low rate of 1.73%.
In the first half of the year, SeABank’s total revenue increased
18% year-on-year to more than 12.1 trillion VND. Particularly, returns from
traditional businesses grew steadily over last year, with income from fees
reaching 466 billion VND.
The bank said that its fee income in the second quarter was double
that of the previous quarter and is expected to rise higher at the end of 2023.
During the period, its total deposits from customers climbed 5.64%
to nearly 144.8 trillion VND.
After passing the rigorous appraisal and evaluation process from
international organisations, SeABank was able to receive additional foreign
capital. As of June 30, the bank’s total mobilised capital from international
organisations was over 11.7 trillion VND, an increase of 26.15% over the end of
2022.
The mobilised fund plays a crucial role in serving SeABank’s
business activities amid the trend of diversification and globalisation of
working capital, the bank said.
Besides maintaining stable business operations, SeABank also
increased its charter capital to more than 24.5 trillion VND and cut loan
interest rates many times to support production and business, contributing to
economic recovery.
In June, the bank successfully issued shares to pay dividends and
bonus shares with a total ratio of nearly 20.3% to increase charter capital to
more than 24.5 trillion VND.
In 2023’s business plan, SeABank keeps its stance on sustainable
growth, continues to focus resources on innovation and digital transformation
activities to improve business performance and aims to improve client
experience with a variety of products and services. It is also focussing on
optimising operating costs.
The bank also implemented social security programmes such as
supporting the cost of houses of gratitude for the poor in Ha Tinh and Dien Bien
provinces with a total value of 30 billion VND, and holding the annual SeABank
Run For The Future (SeARun 2023) to raise funds to award 10 scholarships to
Nurture Dreams and plant 25,000 trees, totalling 1.5 billion VND. It organised
annual charity activities, including ‘Spring of Love’ and ‘SeABankers For
Children’, nationwide.
On the stock market, SeABank’s shares, with the ticker SSB, are
traded on the Ho Chi Minh Stock Exchange and have grown stably in the first six
months of the year, up nearly 6.5% compared to the beginning of the year.
The gain helps bring its capitalisation to more than 3 billion USD
and it was approved by the southern bourse to be a part of the VN30 basket. SSB
will officially join the VN30 basket on August 7.
Previously, SSB was also added to the Morgan Stanley Capital Index
(MSCI) Frontier Markets Index starting from March 1 this year./.