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05/09/2024
Southeast Asia Commercial Joint Stock Bank (SeABank, stock code: SSB) is ranked 752nd in the “Top 1000 World Banks 2024” by The Banker Magazine, moving up 169 places from 921st in 2022 and 19 places from 771st in 2023. Additionally, SeABank is also honored by the World Confederation of Businesses (Worldcob) in 4 categories for its outstanding, leading businesses and leaders.
The “Top 1000 World Banks” ranking was founded in 1970 by the reputable global magazine - The Banker, based on international banking standards. The list is finalized after financial reports of world's strongest banks are published. In 2024, the Top 1000 World Banks ranking is evaluated based on three key criteria: total assets, pre-tax profit (PBT) and Tier 1 capital ratio.
SeABank is one of the few Vietnamese banks to present in this prestigious ranking for 3 years in a row and attain 752nd in the 2024 ranking, moving up 169 places from 921st in 2022 and 19 places from 771st in 2023. The continuous escalation demontrates its comprehensive development, increasingly safe and transparent operations. At the same time, this shows the Bank’s good resistance against risks and external factors, while having its revenue improved more sustainably than other local banks. Previously, The Banker Magazine also honored SeABank as "Bank of the Year" in 2013, 2021 and 2022.
In addition, the World Confederation of Businesses (Worldcob) simultaneously honored SeABank in 4 categories. Particularly, 2 awards for business are The Bizz Awards and World Business Leader. Another 2 awards for individual leader, titled World Leader Businessperson and Excellence in Business Management, are awarded to Ms. Le Thu Thuy - Vice Chairwoman of the BOD of SeABank.
In recent years, SeABank records continuous, strong growth scale and speed. In the first 6 months of 2024, SeABank's consolidated PBT reached more than US$130.5 million (approx. VND3,238 billion), up nearly 61% YoY; total net income (TOI) reached US$242.3 million (approx. VND6,011 billion), up 43% YoY. At the same time, net non-interest income (NOII) recorded an impressive growth of 39% YoY and reached US$51.1 million (approx. VND1,268 billion), equivalent to 21.1% of total net income. Other performance indicators witnessed positive growth YoY, such as ROE reaches 16.38% and ROA reaches 1.88%. SeABank also ensures a safe operation with the NPL controlled at 1.91%.
The honored recognition by reputable international organizations is motivation for SeABank to continue with its provision of high-quality products and services, thus enhancing customer experience and guaranteeing sustainable growth, gradually moving towards its goal of becoming the favorite retail bank in Vietnam.