SeABank exceeded the business plan set out in 2021

Accordingly, SeABank's total assets increased by US$ 1.39 billion compared to 2020, reaching US$ 9.36 billion. Total outstanding loans reached US$ 5.74 billion. Total deposits mobilized from customers reached US$ 5.69 billion. Total operating income reached US$ 310.85 million, an increase of 53% year-over-year. SeABank’s pre-tax profit reached US$ 144.38 million, equal to 135% of its 2021 budget thanks to diversification of revenue sources and good management of operations.

By dynamic management of business activities, SeABank's total non-interest income in 2021 reached US$ 81.74 million, accounting for 26.3% of total revenue. This growth is achieved thanks to trading activities, securities issuance, insurance commission, service fees and especially credited to financial products and services implemented on modern digital banking technology platforms - SeAMobile. Besides, the cost income ratio (CIR) dropped sharply to 36%, the NPL ratio continued to decrease at 1.65%. The CAR ratio reached 11.64%, higher than the minimum level of 8% required by the State Bank of Vietnam and meeting Basel standards on capital adequacy ratio.

Considering technology as the core pillar, 2021 is a year of the transformation when SeABank focuses its resources in technology, continuously upgrading and digitizing SeAMobile/SeANet applications, registering 100% of eBank account online via eKYC. In 2021, the number of new eBanking users at SeABank increased by 201%, the number of transactions increased by 170% and the value of online transactions increased by nearly 200% compared to the same period in 2020. 

At the same time, with the aim to serve over 5.2 million customers by 2025, SeABank broaden its cooperation with Google Cloud, using the cutting-edge technology, which is cloud computing to store and secure customer information, thereby driving product innovation, improving customer service and online experience.

Sharing the pandemic’s impact on businesses and individuals, SeABank has echoed the State Bank of Vietnam's policy on reducing lending interest rates until the end of 2021 with the total amount of interest reduced for customers of US$ 12.68 million dong, reaching 552% compared to the committed amount, the total value of debt with interest rate reduction is US$ 3.5 billion for 58,522 customers.