SeABank allowed to apply Basel II before deadline

17:47 | 30/10/2019
On October 29, 2019 in Hanoi, Southeast Asia Commercial Joint Stock Bank (SeABank) was officially recognised by the State Bank of Vietnam to have met the minimum capital adequacy ratio in accordance with Basel II international standards.
seabank allowed to apply basel ii before deadline
SeABank aims to become one of the most popular retail banks in Vietnam

Meeting the strict norms of Basel II shows that SeABank is capable of preventing credit risks, market risks, operational risks, and risks that may occur during its operation.

To meet Basel II standards, SeABank has met the high risk management standards and principles set by the State Bank to ensure safe, efficient, sustainable, and transparent business activities, contributing to building a steady and wholesome banking industry.

SeABank has just completed the increase of its charter capital to VND9.369 trillion ($407.3 million) and was rated by Moody’s – one of the world's three most prestigious credit institutions – B1 on the long term.

The recognition of Basel II standard has just confirmed SeABank's stable operation capabilities and also increased the Bank’s advantages in implementing business administration, gradually developing new business models and improving risk management capacity.

This is also an important premise for SeABank to continue growing strongly, soon fulfilling its goal of becoming the favourite retail bank.

Over the past years, SeABank's performance has been improving steadily, with better results and system development reported from 165 transaction points across three regions of the country and nearly 4,000 employees.

Over the past years, SeABank has been steadily growing in terms of business results and system development with 165 transaction points across three regions of the country and nearly 4,000 employees nationwide.

SeABank is currently known as one of the pioneer banks in innovation and the creation of products and services to provide the best and most competitive personal financial services, offering a full experience for customers. With the aim of meeting all the needs of customers, SeABank's products and services have been diversified, and receive maximum support in terms of procedures, documents, and preferential policies.

SeABank is highly appreciated for its constant efforts by many domestic and international organisations, netting several meaningful awards. SeAbank ranked as one of the 500 largest and strongest banks in the Asia-Pacific in 2019 based on criteria of asset size and balance sheet by The Asian Banker (Singapore) – the most prestigious magazine specialising in finance and banking. The bank also ranked 128th out of the 500 most profitable businesses in Vietnam (Profit 500) published by Vietnam Report.

Customers interested in SeABank's programmes and products and services can contact the nearest SeABank transaction office nationwide or call the Contact Center on 1900 555 587 or visit the website www.seabank.com.vn for information.

By Phong Lan

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