HANOI,Vietnam,Jan. 21,2025 -- By the end of 2024,Southeast Asia Commercial Joint Stock Bank (SeABank,HOSE: SSB) reports 2024 business results with impressive highlights.

Business result 2024: Vietnam’s SeABank achieves PBT of US$238.2 million

Efficient operations drive profit growth

Thanks to flexible business strategy,along with the adherence to sustainable development goals,SeABank's PBT reached US$238.2 million,up 31% YoY,surpassing its target by 103%. Total assets reached US$12.85 billion,up 22% YoY; credit grew 20.42%,reaching US$8.26 billion for credit outstanding balance,with prioritized disbursement for green credit sectors and Vietnam's growth drivers.

Total mobilization exceeded KPIs,grew 23% YoY and reached US$8.52 billion. Particularly,CASA grew 96% and reached US$1.29 billion,accounting for 19.4% of total mobilization. TOI accelerated by 32% YoY,reaching US$489.5 million. NPL is controlled at 1.89%,within SBV's requirements.

By expanding international partnerships,in 2024,SeABank's international mobilization increased by over US$250 million to reach US$850 million (not including trade finance). Of which,notable investments and cooperation are from IFC,AIIB,Norfund,etc. Besides,following the roadmap approved by AGM,SeABank successfully increased charter capital to US$1.12 billion,further improving its financial capacity.

SeABank also maintainedstable growth by promoting digital technology and product diversification. Recorded growth of all performance indicators showed positive tendency,such as ROE at 14.75% and ROA at 1.63%,CIR decreased significantly to 33.28%.

In 2024,SeABank received approval from the SBV to transfer 100% of its capital in PTF to AEON Financial. Relevant procedures are scheduled to be completed in the Q1/2025.

Striving for sustainable development,driving growth in 2025

SeABank successfully upgraded its T24 core banking system to R22 - the latest version in Vietnam to deliver long-term benefits. By applying technology to enhance customer experience and operations,SeABank recorded 52.6 million digital transactions,up 160% YoY; over 70% new accounts opened online via eKYC,bringing the number of online users to nearly 4 million.

SeABank's commitment to corporate social responsibility remained strong,with over US$900,000 allocated to various initiatives,including housing repairs,disaster relief,scholarships for disadvantaged students,afforestation,etc.

Looking ahead to 2025,SeABank aims to build on its solid foundation by targeting a 10% increase in total assets,15% growth in credit,16% rise in capital mobilization,and 10% increase in PBT,with an expected ROE of 13.8%. These goals align with SeABank's vision of sustainable growth and strengthen its position as a leading retail bank.