Moody's upgrades SeABank's basic credit assessment hinh anh 1A customer conducts a transaction via app at a SeABank branch. (Photo courtesy of SeABank)
Hanoi (VNS/VNA) - Moody's announced it would raise the baseline credit assessment (BCA) from B2 to B1 for Southeast Asia Commercial JS Bank (SeABank) in the 2022 rating review period.

At the same time, Moody's continues to keep SeABank's issuer and long-term deposit rating at B1 for the fourth consecutive year with a positive development outlook.

Moody's upgrade of BCA to B1 reflects the marked improvement of the bank's intrinsic strength in asset quality, profitability and capital.

The assignment is proof of the efforts of the bank in maintaining stable business operations, improving asset quality, profitability and capital last year with outstanding business results.

Its pre-tax profit reached more than 3.27 trillion VND (142.2 million USD), a year-on-year growth of 89 percent, and completed 135 percent of its plan. Total assets reached more than 211.66 trillion VND, up 18 percent.

SeABank is currently in the group of important banks in the banking system according to the regulations of the State Bank of Vietnam, voted by the Vietnam Banks Association as "Exemplary Bank for the Community 2021" and services in 2021" and is the only bank to be honoured by The Banker (UK) as " Bank of the Year Vietnam 2021" and ranked among "Top 50 best growth enterprises in Vietnam 2022” by Vietnam Report./.