SeABank increases its share capital to more than 853 million dollars


VIETNAM, August 10 –

HÀ NỘI – The Joint Stock Commercial Bank of Southeast Asia (SeABank) has officially increased its share capital from VNĐ 3.2 trillion to VNĐ 19.8 trillion ($853.4 million).

The capital increase, approved by the State Bank of Việt Nam at the end of last month, was carried out by issuing additional shares and paying dividends from its equity in 2022. Around 211.4 million shares, or 12.7% of its share capital, were issued to pay dividends and 109.7 million new shares, or 6.6% of its share capital, were issued to investors.

This decision is part of the bank’s plans to improve its capital adequacy ratio, supplement its working capital, implement a digitalization process in credit and payment activities and diversify products and services, thereby improving the quality of service and the customer experience.

In the third quarter of 2022, SeABank will continue the roadmap to increase the share capital through the issuance of 59.4 million shares under the employee stock ownership plan (ESOP). Nearly 2,500 selected officers and employees of SeABank will have the right to purchase shares at a preferential price of 15,000 NV per share.

At the end of June, SeABank’s total assets reached VNĐ229.7 trillion ($9.9 billion). The bank reported a pre-tax profit of VNĐ2.8 trillion. Total Operating Income (TOI) reached over VNĐ5 trillion, up 157% from the same period last year. Notably, non-interest income (NII) also saw impressive growth of 226% to VN1.7 trillion.

The cost to income ratio (CIR) stood at 30.3% compared to 38.3% in the same period in 2021. The bad debt ratio continued to decline, falling from 1.65% at the end of the year. year to 1.6% at the end of last year. end of June.

During the second half of the year, the bank will continue to implement the objectives set at this year’s general meeting of shareholders, including a plan to increase the share capital to nearly VNĐ22.7 trillion. —VNS


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