SeABank meets Basel II requirements

By Pham Van    October 31, 2019 | 06:15 pm GMT+7

The central bank's recognition of SeABank as having achieved Basel II norms reflects its capacity to manage credit, market, operational, and other risks.

The State Bank of Vietnam (SBV) conferred the recognition on Tuesday.

To achieve this, Southeast Asia Commercial Joint Stock Bank, as the private lender is formally known, had to meet the high risk management standards set by the SBV to ensure safe, efficient, sustainable, and transparent operations, contributing to the development of the banking industry.

The recognition would enhance its advantages, soon helping achieve its goal of becoming the most favorite retail bank in Vietnam, the lender said in a release.

SeABank has been steadily growing in terms of business and operation network with 165 transaction points across all three regions of the country and nearly 4,000 employees, the release stated.

The bank is known as one of the pioneers in innovation and creation of products and services to provide competitive personal financial services.

With the aim of meeting all the needs of customers, SeABank constantly diversifies its products and services and offers supportive procedures and competitively preferential policies.

SeABank has won a number of Vietnamese and international awards, including for the Top 500 largest and strongest banks in the Asia - Pacific in 2019 based on asset size and balance sheet from The Asian Banker, a prestigious Singaporean magazine specializing in finance and banking.

It ranked 128th out of 500 most profitable businesses in Vietnam (Profit 500) published by Vietnam Report,  a Vietnamese ranking company.

The bank has increased its charter capital to VND9.37 trillion ($406 million) and recently received a B1 long-term rating from Moody's, one of the world's top credit rating agencies.

Moodys in October gave SeABank a B1 long-term rating for the first time, reflecting the lender’s good financial capacity and development potential.

Moody's in October gave SeABank a B1 long-term rating for the first time, reflecting the lender’s good financial capacity and development potential.

For more details, contact SeABank at 1900 555 587 or

https://www.seabank.com.vn/

 
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