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SeABank (SSB) increased charter capital to nearly VND20,403 billion 

 Monday, March 6,2023

AsemconnectVietnam - Southeast Asia Commercial Joint Stock Bank (SeABank, stock code SSB) has officially completed the increase of charter capital to nearly VND20,403 billion through the issuance of shares to employees under the ESOP Program in 2022.

Accordingly, the State Bank of Vietnam has issued Decision No. 177/QD-NHNN dated February 8, 2023 approving the adjustment of the charter capital on the operation license of SeABank from VND19,809 billion to nearly VND20,403 billion.
The increase in charter capital by VND594 billion was made through the form of stock issuance under the employee selection program (ESOP) in 2022, which was approved by the General Meeting of Shareholders of SeABank.
According to SeABank's ESOP Program in 2022, nearly 2,500 employees of the Bank can buy shares at a preferential price of VND15,000/share. This is a welfare program that SeABank periodically implements for many years, in order to appreciate the contributions of its employees and to link the employees' interests with the Bank's development.
By the end of 2022, SeABank has achieved positive business results with pre-tax profit of nearly VND5,069 billion and the Bank has maintained a stable growth rate with positive indicators: Total assets reached VND231,423 billion, up 9.34% compared to 2021; Return on average assets (ROA) and return on average equity (ROE) are 1.83% and 18.1%, respectively.
The Bank's Expense to Income Ratio (CIR) continued to decrease to 35.3% and NPL ratio decreased to 1.60%. Notably, net non-interest income (NOII) increased impressively by 43% compared to 2021, reaching VND2,641 billion. This ratio shows the effectiveness in diversifying the product structure, while effectively exploiting the existing customer file and developing a new customer network in the market.
With the results achieved, SeABank was honored by The Banker as the Best Bank in Vietnam 2022 at the "Bank of the Year 2022" Award Announcement Ceremony (Bank of the Year 2022). SeABank is the only representative of Vietnam and also one of 22 typical banks of the Asia-Pacific region honored at this year's awards.
Source: VITIC/Tinnhanhchungkhoan


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