SeABank honored as 'Pioneering Bank in Governance Innovation for Sustainable Development' at the Vietnam ESG Awards

Affirming the leading position 

Vietnam ESG Awards is one of the few specialized awards in Vietnam exclusively dedicated to ESG. Initiated by Dan tri Newspaper, the award is decided by a evaluation committee of leading Vietnamese experts in economics, social development, and sustainability. Vietnam ESG Awards aim to honor businesses and organizations with outstanding ESG implementation and a strong commitment to sustainable development. 

In this inaugural year, the award attracted over 150 corporate participants, of which nearly 40 being selected to the final round, highlighting its rigorous selection criteria and competitiveness.

According to the Organizing Committee, the honored businesses all represent exemplary models with outstanding achievements, having impressive strategies and results in integrating ESG principles into business operations.

This year, SeABank was one of six outstanding organizations recognized for excellence in corporate governance, titled “Pioneering Bank in Governance Innovation for Sustainable Development”.

“In implementing its ESG strategy, SeABank identifies governance as the core factor driving comprehensive and sustainable development. The Bank continuously strives to strengthen its governance structure and model, enhance management capabilities, and ensure compliance with both Vietnamese regulations and international standards. This award not only recognizes our practical achievements but also serves as a strong motivation for SeABank to stay committed to the long-term vision of building a sustainable financial ecosystem and a prosperous future” - said Ms. Le Thu Thuy, Vice Chairwoman of the Board of Directors at SeABank.

Thanks to its strong efforts in strengthening governance foundations, SeABank has achieved sustainable, safe, and efficient growth, while earning recognition from both domestic and international organizations. Previously, SeABank outperformed hundreds of businesses to secure the first rankings in the “Top 10 Best Corporate Governance Companies - Midcap group” and the “Top 10 Best Annual Reports – Financial sector”, as evaluated by the Stock Exchanges of Vietnam and Vietnam Investment Newspaper (VIR).

SeABank also received multiple honors and awards for its effective ESG application, including: Best Places To Work 2024 by Anphabe and the Vietnam Chamber of Commerce and Industry (VCCI); UN WEPs Award 2024 for Gender Equality in the Marketplace by UN Women; “Outstanding Bank for the Community” by the Vietnam Banks Association (VNBA) and IDG Vietnam; “Sustainable Business” by VCCI, etc.

ESG Implementation – Strategic focus toward sustainable development

Over the years, SeABank has consistently focused on strengthening its Governance structure, model, and effectiveness. To enhance transparency and guarantee the benefits of shareholders and investors, SeABank ensures timely and comprehensive information disclosure across multiple channels and in multiple languages, in full compliance with regulatory requirements.

SeABank has also adopted international reporting frameworks such as IFC’s Corporate Governance Methodology, G20/OECD principles, ASEAN scorecard, Global Reporting Initiative (GRI) standards, etc. alongside Vietnamese laws and standards like VNCG50.

Risk management is also a critical component of SeABank’s ESG strategy. To ensure asset quality, stable liquidity, and a strong capital buffer, the Bank continuously enhances its comprehensive risk assessment methodologies in line with international standards, while flexibly adjusting policies in response to market conditions. SeABank successfully completed all three pillars of Basel II ahead of regulatory deadlines, and is among the leading Vietnamese banks to implement Basel III standards. The Bank consistently maintains its Capital Adequacy Ratios (CAR) well above the minimum requirement set by the State Bank of Vietnam, with a consolidated CAR of 12.84% as of December 31, 2024.

SeABank also applies international standards such as International Financial Reporting Standards (IFRS), COSO internal audit framework, 3-line defense model to ensure safe and sustainable operations. As a result, SeABank has maintained strong credit ratings from Moody’s over the years with a Ba3 for long-term deposit rating, a B1 for baseline credit assessment (BCA), and a Stable outlook. 

In addition, SeABank has proactively implemented an Environmental and Social Risk Management System (ESMS) for its lending activities since 2022. In 2024, the Bank further expanded its ESMS, featuring: requirements for supply chain risk management; assessment of physical risks related to climate change; expanded application of risk assessments in line with IFC Performance Standards.

SeABank also places strong emphasis on Environmental and Social (E&S) pillars, actively implementing a wide range of policies aimed at minimizing the E&S impacts from business activities. Numerous initiatives and policies have been conducted to promote financial inclusion, creating equal development opportunities for small and medium-sized enterprises (SMEs), women-owned SMEs. At the same time, SeABank increased financing for projects in green and sustainable sectors, successfully issued US$150 million of green and blue bonds to the International Finance Corporation (IFC) and the Asian Infrastructure Investment Bank (AIIB).

SeABank’s brand identity is enhanced as a community-oriented bank through a series of activities organized by its 4 charitable funds, together with its active participation in a wide range of social welfare and environmental initiatives. These include contributions in diverse aspects such as healthcare, education, humanitarian aid, environmental protection, etc. SeABank’s impactful contributions have been widely recognized by the Vietnamese Party, the State, the Government, and the community, most notably by the First-Class Labor Order.

Taking ESG as the core of its sustainable development strategy, SeABank will continue creating long-term values for its stakeholders by strengthening foundations of corporate governance, risk management, human resource development, corporate culture, and E&S responsibility. The title at the Vietnam ESG Awards 2025 serves as recognition and motivation for SeABank to consistently advance on its journey of delivering values to the community, moving closer to its goal of becoming the favorite retail bank in Vietnam.