SeABank increases its charter capital to 9.369tril dong

12-Oct-2019 Intellasia | BizLIVE | 6:02 AM Print This Post

Southeast Asia Commercial Joint Stock Bank (SeABank) has just completed the share offering to raise its capital from 7.688 trillion dong to 9.369 trillion dong. With the new scale, SeABank is in the group of 15 banks with the largest chartered capital in Vietnam.

A source from SeABank said that the capital raising plan was completed in September and was approved by the State Bank of Vietnam (SBV) and the State Securities Commission.

This increase in charter capital is in the development plan of SeABank, which was approved by the Annual general Meeting of Shareholders in 2019, aiming to become the most favourite retail bank.

In addition, the new charter capital will help SeABank increase its financial capacity and create favourable conditions in expanding its operation network, investing in facilities and technology, diversifying products and services to better meet the needs of customers nationwide.

Over the years, SeABank has experienced steady growth in business results and expanded network development across the three regions of the country. Up to now, SeABank has 165 transaction points nationwide.

According to the report, in the first six months of 2019, SeABank recorded impressive growth, in which: total assets reached nearly 150 trillion dong, up 6.1 percent compared to the beginning of the year; total outstanding loans rose to 95.219 trillion dong, up 8.2 percent compared to the beginning of the year; net revenue increased significantly, especially service revenue grew 247 percent over the same period last year. Profit before tax was 409 billion dong, up 57.4 percent over the same period last year.


Category: Finance, Vietnam

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