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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