In 2023, the global and domestic economy faced significant fluctuations. By flexibly adapting the business direction, focusing on digital technology, prioritizing the development of green credit, and introducing new fee-based products, SeABank successfully achieved its business targets for 2023 with positive growth indicators.
As of December 31, 2023, SeABank’s total assets reached VND 266,107 billion, an increase of 15% compared to 2022. Its charter capital stood at VND 24,957 billion, a 22.32% increase from the previous year, enhancing the Bank’s capital capacity. With strong financial resources, SeABank has been able to focus on digital technology, optimize its systems, and provide customers with convenient products and services that create positive experiences throughout their financial journey with the Bank.
Diversifying products, improving service quality, cross-selling, and increasing technology adoption have contributed to SeABank’s customer base exceeding 3 million. In 2023, the Bank recorded over 32.3 million digital transactions, a 157% increase compared to the previous year, with more than 71% of new accounts registered online through eKYC. This demonstrates the Bank’s efforts in attracting new customers, as well as maintaining existing ones, resulting in a 144,840 billion VND increase in mobilized capital, a nearly 125.4% growth compared to 2022. The ratio of non-term deposits (CASA) continued to increase, accounting for 11.5% of the total mobilized capital. Additionally, SeABank’s total outstanding loans reached nearly 180,000 billion VND, a growth of over 116% compared to 2022.
Supporting both corporate and individual customers during the economic recovery phase, SeABank implemented various preferential policies, including interest rate reduction, fee reduction for enterprises and individuals, and special loan packages worth billions of VND. In 2023, the Bank reduced a total of 407.28 billion VND in interest payments for existing customers.
Facing numerous challenges, SeABank maintained a safe operating environment with a non-performing loan ratio controlled below 2% (1.94%) through proactive use of resources to cover, control, and recover bad debts. The quick liquidity reserve ratio reached 20.2% and the 30-day VND payment ability ratio stood at 67.56%. These efforts contributed to SeABank’s pre-tax profit of over 4,616 billion VND, achieving its business targets for 2023 and corresponding to a return on equity (ROE) of 13.03%.
In addition, SeABank retained its Ba3 credit rating from Moody’s for Long-Term Local and Foreign Currency Deposits, while maintaining its B1 Baseline Credit Assessment (BCA) rating. Moody’s affirmation of SeABank’s ratings with a Stable outlook reflects the organization’s expectations of the Bank’s high capital safety and improving performance.
