Southeast Asia Commercial Corporation Bank (SeABank, ticker code: SSB) has announced its 2023 results, with significant growth. CASA increased to 11.5%. The net increase in debt outstanding and mobilization increased by 16.76% and 25.35% from the previous year, respectively. Non-performing loans are kept at 1.94%. EBT reached more than 189.4 million USD.
Hanoi, Vietnam, February 7, 2024 /PRNewswire/ — Given the volatile global and domestic economic situation, these results signal SeABank's flexible business transformation with a focus on digital technology, green credit development and the launch of new paid products. ing.
By the end of 2023, SeABank's total assets reached the following levels 10.9 billion USD, a 15% growth compared to the previous year.Charter capital increased to US$ 1 billion, an increase of 22.32% from the previous year. Strong financial strength improves SeABank's capital capacity and facilitates the promotion of digital technology and technology optimization, which brings convenient products and services and positive experiences.
The Bank's efforts in product diversification, improving service quality, cross-selling products and promoting technology applications have attracted more than 3 million customers who transact with SeABank. In 2023, the Bank recorded more than 32.3 million digital transactions (up 157% year-on-year), with more than 71% of newly opened accounts registered online via eKYC. This demonstrates the Bank's efforts to retain existing customers while attracting new customers, thereby increasing customer mobilization. 5.9 billion USD In 2023, it will increase by nearly 125.4% compared to the previous year. Among these, CASA accounted for 11.5% of total deposits, which continued to increase compared to the previous year.Furthermore, SeABank's total debt is approximately 7.4 billion USDan increase of over 116% year over year.
SeABank has implemented a number of preferential policies, including lower interest rates and fees, and preferential loan packages capped at trillions of VND, with the aim of supporting customers during the economic recovery period.Customer reached: 16.7 million USD.
Despite the challenges, SeABank managed to operate safely with non-performing loans below 2% (specifically 1.94%) thanks to the active use of resources to cover, manage and recover non-performing loans . In addition, the bank liquidity reserve ratio reached 20.2%, and the 30-day VND solvency ratio reached 67.56%.
Through these efforts, EBT 189.4 million USDcompleted its business plan for 2023, corresponding to an ROE of 13.03%.
In 2023, Moody's will continue to rate SeABank at Ba3 for long-term foreign currency deposits and issuer ratings, reflecting SeABank's improved capital adequacy level, while maintaining its BCA rating at B1 with a stable outlook.
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Source Seabank
