SeABank achieved profit of 4,350 billion VND in the first quarter of 2025

Southeast Asia Commercial Joint Stock Bank (SeABank, stock code SSB) announced its consolidated business results for the first quarter of 2025 with pre-tax profit reaching VND 4,350 billion, an increase of nearly 189% over the same period in 2024. SeABank's total assets were VND 333,746 billion, an increase of 2.47%, equivalent to a net increase of VND 8,047 billion compared to December 31, 2024 and the Bank's charter capital was VND 28,450 billion.

Exceeded the plan in the first quarter

Accordingly, SeABank has successfully completed the targets in the first quarter of 2025, maintaining growth momentum compared to the same period in 2024, specifically: Pre-tax profit from business activities completed 269% of the plan, reaching VND 4,350 billion, up nearly 189%; Total net income (TOI) completed 184% of the plan, reaching VND 5,820 billion, up more than 115%, of which, non-interest income was a bright spot contributing to the proportion of total operating income when reaching VND 3,369 billion, up more than 378%, completing 340% of the plan. This positive result comes from proactively expanding non-credit services combined with cost control, strengthening risk management and implementing important projects.

By the end of the first quarter of 2025, SeABank's total mobilization from deposits and valuable papers reached VND 189,993 billion and total outstanding loans to customers reached VND 213,048 billion, a net increase of VND 3,693 billion.

In addition, the bad debt ratio decreased slightly compared to 2024, at 1.84% due to the bank's good control of credit risks in the context of many economic difficulties, the bad debt ratio of the entire banking industry increased. The coverage ratio remained at 81.81%, ensuring provisions and use of provisions according to regulations.

Business results Q1/2025

As of March 31, 2025, SeABank's total assets are VND 333,746 billion, an increase of 2.47%, equivalent to a net increase of VND 8,047 billion compared to December 31, 2024, and the Bank's charter capital is at VND 28,450 billion.

Strengthening international cooperation, supplementing capital sources to support SME enterprises

In the first quarter of 2025, SeABank continues to be trusted and chosen by international financial institutions to become a partner to help Vietnamese enterprises access capital, thereby improving capacity and focusing on promoting key business areas.

By the end of March 2025, SeABank's total capital mobilized from the international market reached nearly 1.1 billion USD after Proparco (French Development Finance Institution) and FMO (Dutch Enterprise Development Bank) jointly invested 80 million USD. This investment not only helps SeABank supplement capital to support SMEs and women-owned enterprises, but also affirms the bank's reputation, operational efficiency, and capital efficiency.

Also in the first quarter of 2025, SeABank completed the transfer of PTF Postal Finance Company to AEON Financial Service, thereby helping SeABank have more capital, increase financial capacity to expand scale, invest in technology, promote business activities in a focused direction and sustainable growth.

Established in 1994, SeABank is one of the leading joint stock commercial banks in Vietnam with nearly 4 million customers and 181 transaction points nationwide. The bank aims to become a typical retail bank, focusing on customers, providing diverse financial services for individuals and businesses. SeABank has a charter capital of VND 28,450 billion, is rated Ba3 by Moody's and is a pioneer in applying Basel III. Following the "Digital Convergence" strategy, the bank promotes digitalization and modernization of technology infrastructure, improving service experience.

PV

Source: https://congthuong.vn/seabank-dat-loi-nhuan-4350-ty-dong-quy-i2025-384540.html