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SeABank reports 61% jump in profits

By Dat Nguyen   July 23, 2024 | 06:39 pm PT
SeABank reports 61% jump in profits
A customer carries out a transaction at a branch of SeABank. Photo courtesy of the bank
SeABank's profits soared by 61% year-on-year to VND3.24 trillion (US$128 million) in the first half of the year.

Its operating income went up by 43% to VND6.01 trillion, the lender said in a press release.

Deposits rose by 59% to VND20.04 trillion.

The bank managed to keep bad debts at 1.91% of loans outstanding.

SeABank has charter capital of VND24.96 trillion and plans to issue new shares to existing shareholders to increase it by almost 14%.

This year it has secured $225 million in loans from several international organizations, including the Norwegian Investment Fund and International Finance Corporation.

 
 
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