Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB) has released its first seperate Sustainability Report, marking an important milestone in its journey of creating long-term values. With a strong focus on Environmental - Social - Governance (ESG), the Bank’s sustainability commitment is affirmed through concrete, transparent, and measurable actions.
Publication of Independent Sustainability Report
TAccordingly, SeABank’s Sustainability Report has been prepared in compliance with Circular No. 96/2020/TT-BTC guiding the disclosure of information on the securities market, with reference to international standards such as the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines and the United Nations’ 17 Sustainable Development Goals (SDGs). This Report is an independent publication, and has been officially released on SeABank’s website.
The 2024 Sustainability Report is aligned with SeABank’s annual slogan – “Choose your Fighter, Be a Legend!”. Amid the volatility of 2024, this message embodies the fighting spirit of a passionate warrior — ready to move forward, capture opportunities, and conquer challenges. SeABank’s efforts are not only dedicated to today’s success but also to creating legendary legacies and paving the way for a green, happy, and prosperous future.
SeABank releases its first independent Sustainability Report.
After many years of integrating ESG disclosures into its Annual Report, SeABank has now issued an independent Sustainability Report to provide a clearer and more systematic presentation of the Bank’s sustainability orientations, objectives, results, and plans. This marks an important step toward enhancing transparency for the sake of stakeholders, in line with the strategic direction and vision of a responsible bank.
At SeABank, sustainability is not a choice but a core mission and guiding principle in all activities. “The Bank is committed to building a comprehensive and sustainable financial ecosystem that delivers practical, long-term value to stakeholders while fostering prosperity for future generations” - shared Mr. Le Van Tan, Chairman of the Board of Directors, on the Bank’s sustainable vision in the Report’s BOD message.
Sustainability commitment with an ESG focus
During over 30 years of serving and connecting values, SeABank has steadfastly pursued sustainable growth in harmony with community prosperity, human well-being, and environmental preservation. The Bank continues to pursue its sustainability goals in a strategic and concrete manner, integrating across all business and operational activities with a focus on the three ESG pillars, which are transparently presented in the 2024 Sustainability Report.
Identifying Governance as a core factor for comprehensive sustainable development, SeABank continuously enhances its corporate governance and risk management capabilities while optimizing its governance model in line with Vietnamese standards and international best practices. As a result, the Bank has consistently maintained Ba3 ratings from Moody’s across key categories, with outlook remains Stable. As of the reporting period, SeABank successfully mobilized nearly USD 1 billion (including trade finance) from reputable international partners such as DFC, IFC, AIIB, and Norfund to support small and medium-sized enterprises, promote green credit, and combat climate change.
A solid governance foundation and international funds provide SeABank with additional resources to drive green and sustainable growth, with a focus on climate finance and financial inclusion. The Report highlights SeABank’s objectives and action plans to “green” its portfolio and channel capital into environmentally friendly sectors, while reducing the “brown” exposure through the Environmental and Social Risk Management System (ESMS). In 2024, SeABank issued Vietnam’s first blue bond and the first green bond by a private joint stock commercial bank, with a total value of USD 150 million, thereby expanding capital flows for sustainable projects.
SeABank drives sustainability with clear and strategic goals.
Placing people as the center of development, SeABank offers a wide range of financial products and services tailored to customer needs, supporting the success of nearly 4 million individual and corporate customers. Notably, the Bank provides significant support for female customers, household businesses, small and medium-sized enterprises, and women-owned enterprises, thereby creating equal growth opportunities and promoting financial inclusion.
For its employees, SeABank fosters a professional, people-centered working environment where every individual is respected, empowered, and supported to maximize their potential. Employees are provided with capacity-building training programs and benefit from competitive compensation and welfare policies, including comprehensive health insurance (SeACare), preferential staff loan packages (SeAStaff Privilege), and employee stock ownership plans (SeAESOP). SeABank also places great emphasis on corporate culture, strengthening employee engagement and commitment through a variety of appreciation, merit and bonding programs for staff and their families.
The value of love is cultivated within SeABank and extended to the wider community through practical CSR initiatives, aiming to foster a happier society, as stated in the 2024 Sustainability Report. These initiatives are primarily carried out by 4 internal charitable funds with a total value of nearly VND 24 billion in 2024, covering multiple United Nations’ SDGs such as no poverty, zero hunger, good health and well-being, quality education, and more.
In line with its ESG-focused sustainability strategy, SeABank will continue to strengthen comprehensive foundations in governance, technology, customers, human resources, and corporate culture. This ensures sustainable business growth in harmony with community interests and environmental preservation.
SeABank’s 2024 Sustainability Report is available in full here.
