Curated News
By: NewsRamp Editorial Staff
October 27, 2026
SeABank Cuts 2026 Profit Target by 15%, Elects New Chairperson
TLDR
- SeABank cuts its 2026 profit target by 15% to VND6,008 billion while lowering deposit rates by 0.5-0.7 points, creating lending advantages for SMEs and green projects.
- SeABank reduces profit target 15% to VND6,008 billion, cuts deposit rates 0.5-0.7 points for six-month plus tenors, and prioritizes credit for sound businesses and green projects.
- SeABank lowers interest rates to ease business difficulties, support SMEs and green projects, and appoints Ms. Tran Thi Thanh Thuy as Chairperson to strengthen leadership.
- SeABank elected Ms. Tran Thi Thanh Thuy as new Board Chairperson with nearly 40 years of banking experience, effective October 22, 2026.
Impact - Why it Matters
SeABank’s decision to lower its profit target and reduce interest rates directly benefits borrowers, especially SMEs and green projects, by making credit more affordable and accessible. The leadership transition, with a seasoned banker at the helm, signals stability and a continued focus on sustainable growth, which can enhance investor confidence and support Vietnam’s broader economic recovery. This news matters because it demonstrates how financial institutions can align with government policies to drive inclusive growth while maintaining sound governance.
Summary
SeABank (Southeast Asia Commercial Joint Stock Bank, stock code: SSB) has adjusted its 2026 business plan in response to directives from the Vietnamese Government and the State Bank of Vietnam (SBV) aimed at easing business difficulties, lowering interest rates, and supporting economic growth. The bank’s Board of Directors approved a 15% reduction in its 2026 profit-before-tax target to VND6,008 billion, enabling three key actions: cutting deposit rates by 0.5–0.7 percentage points for tenors of six months or longer to create room for lower lending rates, particularly for SMEs, priority sectors, and green projects; prioritizing credit allocation to businesses with sound financial foundations and viable business plans; and leveraging existing customer ecosystems and value chains to provide integrated financial solutions. These measures reflect SeABank’s alignment with policy directions and its strategic focus on growth quality and customer support over rapid expansion at all costs.
In a leadership shake-up, the Board elected Ms. Tran Thi Thanh Thuy, a current BOD member, as its new Chairperson for the 2023–2028 term, effective October 22, 2026. The BOD also approved Mr. Le Van Tan’s resignation as Chairperson and is completing documentation to receive the SBV’s approval for his appointment as CEO, succeeding Mr. Le Quoc Long, whose three-year term ends in November 2026. This proactive transition ensures continuity and stability in SeABank’s governance and executive management. Ms. Thuy holds a Master’s degree in Economics from the Banking Academy of Vietnam and brings nearly 40 years of banking and finance experience. Since joining SeABank in 2015, she has served as Deputy CEO and was elected to the BOD for the 2023–2028 term on April 17, 2024. Her extensive experience is expected to support SeABank’s safe, stable growth in line with international standards. The BOD currently has eight members, including two independent members and three foreign members, all with long-standing experience to unlock new growth drivers and create long-term value.
The announcement was distributed via Media OutReach Newswire, highlighting SeABank’s commitment to supporting the economy and strengthening senior leadership.
Source Statement
This curated news summary relied on content distributed by Media Outreach. Read the original source here, SeABank Cuts 2026 Profit Target by 15%, Elects New Chairperson
