HANOI, Vietnam, April 17, 2024 /PRNewswire/ -- Southeast Asia
Commercial Joint Stock Bank (SeABank, stock code SSB) successfully
organized the 2024 Annual General Meeting of Shareholders ("AGM")
to inform of positive business results in 2023 and deliver 2024
business plan.
In 2023, despite the challenging global and domestic economy,
SeABank has made great efforts to maintain stable growth rate and
achieve positive business results.
Regarding market position and reputation, SSB was selected into
VN30-Index by HoSE. SeABank also becomes one of the 7 Vietnamese
banks with largest capitalization, receives First-class Labor Medal
by the President.
Moreover, SeABank's notable international recognition include:
771st in Top 1000 World Banks 2023 (The Banker Magazine); 44th in
100 most valuable brands in Vietnam 2023 (Brand Finance).
In 2023, Moody's affirmed SeABank's Ba3 ratings for important
categories with a Stable outlook, reflecting its improving capital
adequacy. Pioneering in applying Basel III into banking governance
and risk management, SeABank has optimized RWA and capital using
advanced methodologies to measure sensitivity to market risks.
Thereby, the risk-opportunity of capital-holding is balanced, thus
improving liquidity, enhancing credit risks and operational risks
management.
Based on performance and context analysis, the AGM approved 2024
business plan directed at maintaining stable growth. Particularly,
total assets expected at approx. US$11.4
billion; capital mobilization targeted at approx.
US$1.08 billion; targeted PBT of
approx. US$232.6 million, up 28% YoY;
targeted ROE of 13.9%; NPL controlled less than 3%.
The AGM also discussed charter capital increase plan to nearly
US$1.2 billion, particularly:
- Issuing 329 million SSB shares to pay 2023's dividends to
shareholders at the rate of 13.1826% and 10.3 million shares to
increase share capital from owner's equity at the rate of 0.4127%,
increasing charter capital to approx. US$1.12 billion.
- Issuing 45 million shares under ESOP program to increase
charter capital by approx. US$17.75
million.
- Offering maximum 120 million shares in forms of private
placement and/or issuing shares to swap debt with expected price of
US$0.4/share, increasing charter
capital by approx. US$47.4
million.
Besides, to strengthen the governance apparatus, the AGM
approves the resignation of Ms. Ngo Thi Nhai (BOD member) and
elects Ms. Tran Thi Thanh Thuy as
new BOD member. Thereby, SeABank expects to enhance its governance
and operations capacity to facilitate the 2024-2028 strategy,
promoting sustainable development in line with international
standards.
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