SeABank issues preferential shares and internally convertible bonds

Despite the recent gloom of the local securities market, the issuance of preferential shares and convertible bonds of SeABank have gained keen interest of all the bank’s staff and external investors. Particularly after the announcement of the first strategic partner, MobiFone, a giant in wireless communication industry, SeABank has once again confirmed their brand in the local financing-banking market.

The issuance of internal shares aims at encouraging the active contribution and long-term commitment of the bank’s staff towards the establishment of a united and sustainably developing bank. In addition to award share purchase , the policy also includes attraction purchase in order to attract the bank’s competent employees, so as to retain and develop a high-quality, committed staff force.

By the date of 30/9/07, SeABank’s nominal capital is VND2000bil and will be VND3000bil by Q4 07. With the issuance of VND2000bil worth convertible bonds in Q3 and Q4 07 (which will be converted to shares after 1 and 2 years respectively) and other share issuance, SeABank will become one of the top three banks with highest nominal capital in the country till date.

In parallel with the growth of nominal capital and total assets, SeABank has always focussed on the development of services, risk management and sustainable business to best meet the customers’ requirements.