HANOI,
Vietnam, July 23, 2024 /PRNewswire/ -- Southeast
Asia Commercial Joint Stock Bank (SeABank, stock code: SSB)
announces its 1H2024 business results with strong and stable
growth: Consolidated profit before tax (PBT) of more than US$127.7
million (VND3,238 billion), up 61% YoY; TOI reaches
US$237.1 million (VND6,011 billion), up 43% YoY; impressive NoII
growth of 39% YoY, reaching US$50
million (VND1,268 billion) and
equivalent to 21.1% of total net revenue. The positive growth was
further reflected by indicators of operating efficiency,
specifically ROE at 16.38% and ROA at 1.88%.
By the end of 1H2024, SeABank's total deposits
and valuable papers recorded a net increase of US$636.5 million (VND16,139 billion) YoY, reaching US$6.3 billion (VND160,926
billion); Current account and savings account (CASA) grew
59% YoY, reaching US$790.3 million
(VND20,038 billion) and accounting
for 13.4% of total mobilization.
SeABank's total outstanding loans to customers
reached US$7.3 billion (VND185,959 billion), of which green credit and
outstanding green credit loans increased by 40% YoY. By using
resources effectively to control and recover overdue debts, SeABank
successfully maintained safe operations with NPL controlled at
1.91%.
As of June 30,
SeABank records total assets of US$11
billion (VND280,658 billion),
charter capital of US$984 million
(VND24,957 billion). In the current
and upcoming period, the Bank is implementing its plan regarding
charter capital increase, expecting to reach US$1.1 billion (VND28,800
billion) via issuing 329 million SSB shares to pay 2023's
dividends and 10.3 million SSB shares to increase equity capital
from owners' equity (equivalent to a total ratio of nearly
14%).
In 1H2024, SeABank has been entrusted with and
has received investments totaling US$255
million from reputable international financial institutions.
Particularly, SeABank will better promote financial inclusion with
its capital enhanced through: a convertible loan of US$30 million from Norfund to support retail
borrowers and micro-enterprises; IFC's loan of US$75 million targeting SMEs, women-owned
enterprises and climate finance. Additionally, SeABank issues the
first blue bond in Vietnam and the
first green bond by a Vietnamese private commercial bank, which
received investments of US$75 million
from AIIB and US$75 million from
IFC.
With its achievements and contributions, SeABank
received Vietnam's national Labor
Medal First class, while being appraised internationally,
including: World's Best Banks 2024 (Forbes), Best Banks Asia -
Pacific 2024 (CNBC), Fortune Southeast Asia 500 (Fortune). This
futher affirms the reputation and position of SeABank in the
industry, in domestic and international markets.
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SOURCE SeABank