IFC increases loan package for SeAbank to 220 million USD Business

IFC increases loan package for SeAbank to 220 million USD

After four months, the International Finance Corporation (IFC) and international lenders increased the loan package granted to Southeast Asia Commercial Joint Stock Bank (SeABank), from 150 million USD to 220 million USD in order to maintain the cooperation with SeABank in re-financing SMEs, women-owned businesses and the climate.
IFC partners with SeABank to lending SMEs in Vietnam Business

IFC partners with SeABank to lending SMEs in Vietnam

The International Finance Corporation (IFC) is providing a 40 million USD loan to the Southeast Asia Commercial Joint Stock Bank (SeABank) to support local businesses and help them make a resilient recovery after the COVID-19 pandemic, the member of the World Bank Group said on June 28.
Local banks earn high profits in Q1 Business

Local banks earn high profits in Q1

In the first quarter of this year, all local banks reported high profit growth amid the impact of the COVID-19 pandemic. However, the profit growth does not reflect the complete economic picture, according to banking insiders.
SeABank posts 2.3-fold surge in Q1 pre-tax profit Business

SeABank posts 2.3-fold surge in Q1 pre-tax profit

The Southeast Asia Commercial Joint Stock Bank (SeABank) earned pre-tax consolidated profit of 698.3 billion VND (nearly 30.4 million USD) in the first quarter of 2021, an increase of nearly 2.3-fold year-on-year.
SeABank increases charter capital to nearly 526 mln USD Business

SeABank increases charter capital to nearly 526 mln USD

The Southeast Asia Commercial Joint Stock Bank (SeABank) has been among 13 commercial joint stock banks in Vietnam with highest charter capital, after increasing it to 12.088 trillion VND (526 million USD) from 9.369 trillion VND.
SeABank completes settlement of VAMC special bonds Business

SeABank completes settlement of VAMC special bonds

The Southeast Asia Joint Stock Commercial Bank (SeABank) has completed the early redemption of all special bonds at the Vietnam Asset Management Company (VAMC), thereby helping the bank proactively monitor and handle bad debts.
Banks struggle to lure long-term capital Business

Banks struggle to lure long-term capital

Banks have to mobilise long-term capital at high costs by issuing certificates of deposit (CD) in Vietnamese dong with high interest rates to lure depositors, causing concerns about a domino effect on lending rates.
Banks, insurers boost bancassurance to get returns Business

Banks, insurers boost bancassurance to get returns

Banks and insurance companies are ramping up cooperation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.
SeABank run raises funds for poor students Society

SeABank run raises funds for poor students

As many as 800 amateur athletes, who are members of the Da Nang Young Businesspeople Association and staff of the Southeast Asia Joint Stock Commercial Bank (SeABank) participated in the “Run for the Future” held in the central city on August 19.
VNPT transfers finance subsidiary to SeABank Business

VNPT transfers finance subsidiary to SeABank

The Southeast Asia Commercial Joint Stock Bank (SeABank) and the Vietnam Post and Telecommunication (VNPT) have signed the minutes to transfer VNPT finance subsidiary Post and Telecommunication Finance Company Ltd (PTF) to SeABank in the form of transferring the contributed capital.