SeABank officially increased its charter capital to VND 28,350 billion

With the approval of the State Bank of Vietnam, Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB) officially completed increasing its charter capital to VND28,350 billion, after 2 rounds of issuing shares to pay dividends and issuing shares to increase equity capital from owners' equity.

Continuously increasing charter capital is an important part of SeABank's development strategy.

Recently, the State Bank of Vietnam issued Decision No. 2378/QD-NHNN on adjusting the charter capital on SeABank's Operating License. Accordingly, SeABank's charter capital increased by VND 3,393 billion, from VND 24,957 billion to VND 28,350 billion, equivalent to an increase of nearly 13.6%. SeABank's additional capital is implemented through the issuance of shares to pay dividends in 2023 and the issuance of shares to increase equity capital from equity capital. This plan is part of the capital increase roadmap approved by SeABank's 2024 Annual General Meeting of Shareholders. Continuously increasing charter capital is an important part of SeABank's development strategy, helping the Bank increase its capital and financial capacity to continue improving capital adequacy indicators, supplementing operating capital scale, investing in technology, etc. Thanks to that, SeABank will have a solid and comprehensive foundation to create momentum for development and complete growth targets, promoting a sustainable development strategy in the direction of Governance - Environment - Society (ESG). At the end of the first 9 months of 2024, SeABank affirmed its position and operational efficiency with pre-tax profit of VND 4,508 billion, up 43% over the same period. Along with that, the Bank received many positive indicators thanks to maintaining solid and effective risk management, typically the capital adequacy ratio (CAR) at 12.85%, higher than the minimum requirement of Basel III (10.5%); the bad debt ratio was controlled at 1.87%. Adhering to the sustainable business strategy, SeABank continues to comprehensively consolidate its foundations and financial potential to enhance competitiveness, promote development, and aim to become the most favorite retail bank. Source: https://nhandan.vn/seabank-chinh-thuc-tang-von-dieu-le-len-28350-ty-dong-post843199.html