Accordingly, SeABank continues to be rated Ba3 by Moody's for its Long-Term Deposit portfolio, maintaining SeABank's baseline credit assessment (BCA) at B1 and assessing its development outlook as Stable.
In the context of many fluctuations in domestic and international markets, the banking industry in Vietnam is facing many challenges. Moody's ratings show high appreciation for the Bank's capital ratio above the industry average and stable asset quality.
In addition, Moody's rated SeABank's outlook at Stable with the expectation that the Bank will continue to maintain its liquidity and long-term solvency indicators.
At the same time, Moody's maintains SeABank's long-term deposit credit rating at Ba3 - one level below Vietnam's national credit rating (Ba2, Stable outlook) based on the Government's ability to provide timely support to the Bank when needed.
In 2022, SeABank's rating was upgraded by Moody's from B1 to Ba3 for key categories and the baseline credit assessment (BCA) was upgraded from B2 to B1.
Since then, the Bank has continuously maintained this ranking, affirming SeABank's reputation, position and potential with customers, partners, especially international organizations as well as its efforts to be at the forefront in meeting the highest international standards, managing and operating business activities proactively, transparently, safely and sustainably.
In recent times, SeABank has continuously supplemented its capital through issuing shares to pay dividends, issuing shares to increase equity capital from owners' equity and issuing shares under the employee stock option program (ESOP)... to achieve SeABank's growth targets in the current period.
This is the basis for the Bank to continue to improve its competitiveness, invest in technology, promote development, strengthen financial capacity and increase customer experience.
Currently, SeABank's charter capital is VND 24,957 billion and is about to increase to VND 28,350 billion after completing the issuance of 329 million shares to pay dividends in 2023 and issuing an additional 10.3 million shares to increase equity capital from equity capital equivalent to a total ratio of nearly 13.6%.
Notably, SeABank also successfully mobilized foreign capital with a total capital of up to 850 million USD from the world's leading financial institutions such as IFC, DFC, AIIB, Norfund... to support sustainable development goals, support small and medium enterprises, female-owned enterprises, individual customers associated with financial inclusion and climate finance.
In particular, SeABank pioneered the application of innovative financial instruments through the issuance of Vietnam's first blue bond and the first green bond issuance by a domestic private commercial bank to international financial institutions, IFC and AIIB, with a total value of up to 150 million USD.
The continuous successful mobilization of international capital from the world's leading financial institutions demonstrates the Bank's operational efficiency, use of capital to support customers as well as its brand reputation, which are continuously improved to meet international standards.
With the goal of promoting green growth and financial inclusion, SeABank will continue to focus on increasing capital resources and improving related indicators, aiming to become a leading bank in supporting Vietnamese enterprises to expand development, promote financial activities, green credit and environmentally friendly project financing, thereby contributing to a sustainable economy.
