Achieve goals, comprehensive growth

At the Congress, SeABank's Board of Directors informed shareholders about the business results in 2024 and the plan for 2025. Specifically, the Bank's pre-tax profit in 2024 reached more than VND 6,039 billion, completing 103% of the plan; total assets reached VND 325,699 billion, up 22% compared to 2023. The performance indicators ROA and ROE reached 1.63% and 14.75% respectively; the bad debt ratio was controlled at 1.89%.

By the end of 2024, SeABank's individual and consolidated capital adequacy ratios (CAR) in 2024 will reach 12.33% and 12.84%, respectively, among the banks with the highest CAR in the system. The bank also successfully issued 10 million shares under the employee stock option program (ESOP), and is expected to complete procedures to increase its charter capital to VND 28,450 billion in the second quarter of 2025.

A solid financial foundation helps SeABank perfect its methodologies and comply with the safety limits on risk management as prescribed by the State Bank of Vietnam and Basel III standards. In the most recent credit rating period in 2024, SeABank was maintained by Moody's with a Ba3 rating for the Long-Term Deposit category, a B1 rating for the Baseline Credit Assessment (BCA) and a Stable development outlook.

Pioneering in sustainable finance, SeABank issued Vietnam’s first blue bond and was the first private commercial bank to issue green bonds to international financial institutions, IFC and AIIB, with a total value of up to 150 million USD. This capital helps SeABank expand funding for sustainable economic activities related to oceans and water, green areas such as green buildings, renewable energy and energy efficiency.

In addition to the positive business results in 2024, SeABank's Board of Directors also shared the Bank's Q1/2025 business results, recording impressive results: Pre-tax profit reached VND 4,350 billion, an increase of nearly 189% over the same period; Total mobilization reached VND 189,993 billion; Total outstanding loans reached VND 213,048 billion; Total assets reached VND 333,746 billion; Total net revenue (TOI) reached VND 5,820 billion. In addition, the bad debt ratio decreased compared to 2024, at 1.84% due to the Bank's good control of credit risks.

Strengthening capital base, expanding operations and improving management efficiency

Based on the achievements in 2024 and the assessment of the macroeconomic situation in 2025, SeABank's General Meeting of Shareholders approved the 2025 business plan with the orientation of developing business by segment, controlling risks and maintaining stable growth compared to 2024. Accordingly, the Bank sets the target: Pre-tax profit is planned to reach VND 6,458 billion, Total assets grow by 10%; Mobilization growth reaches 16%; Credit growth increases by 15%; ROE reaches 13.8% and controls the bad debt ratio below 3% according to regulations.

In order to achieve growth targets, while enhancing financial capacity to invest in boosting business and ensuring operational safety, SeABank's General Meeting of Shareholders approved the plan to issue 20 million ESOP shares to increase charter capital to VND 28,650 billion. In addition, SeABank's General Meeting of Shareholders also approved the policy of offering/issuing individual shares and/or individual shares to convert debt at a maximum rate of 20% of the total number of outstanding shares at the time of offering/issuance.

Along with the capital increase plan, SeABank aims to expand its business operations with the project of acquiring ASEAN Securities Joint Stock Company (ASEAN SC) to become a subsidiary of the Bank. This creates opportunities for the bank to diversify its products, services and distribution system, promote cross-selling, and develop investment activities.

SeABank elected Mr. Matthew Sander Hosford as an independent member of the Board of Directors.

Another important content approved at the General Meeting of Shareholders is the election of Mr. Matthew Sander Hosford (born in 1958, American nationality) as an independent member of the Board of Directors for the 2023 - 2028 term. Mr. Matthew Sander Hosford has a Master of Business Administration (Harvard Business School) and a Bachelor of Science (Brigham Young University), with more than 35 years of experience in the prestigious international finance and banking sector, including 10 years as General Director 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 members of SeABank's Board of Directors to 8, including 2 independent members and 3 foreign members with diverse professional backgrounds, experiences and cultures. This promotes the integration process and builds a position in the international market, while creating a multi-dimensional thinking system to help SeABank improve its management and operational capacity and implement a sustainable development strategy with a focus on Environment - Society - Governance (ESG).

Source: https://baodaknong.vn/seabank-to-chuc-thanh-cong-dai-hoi-dong-co-dong-thuong-nien-2025-bau-bo-sung-thanh-vien-doc-lap-hdqt-nguoi-nuoc-ngoai-250663.html