SeABank has adjusted its 2026 business plan, reducing its profit-before-tax target by 15% to VND6,008 billion, according to an announcement distributed via Media OutReach Newswire. The move is intended to align with directives from the Government and the State Bank of Vietnam (SBV) to ease business difficulties, lower interest rates, and support economic growth. The decision matters because it signals a willingness to sacrifice short-term profitability for broader economic stability, and it places the bank at the center of policy efforts to stimulate credit demand.
The profit reduction enables three key actions. First, SeABank has cut annual deposit rates by 0.5–0.7 percentage points for tenors of six months or longer, creating room to lower lending rates, particularly for SMEs, priority sectors, and green projects. Second, the bank is prioritizing credit allocation toward businesses with sound financial foundations and viable business plans, as well as customers in priority sectors, while strengthening risk management. Third, SeABank is leveraging existing customer ecosystems and value chains to provide integrated financial solutions, enhancing customer experience and engagement. These measures reflect a strategic focus on growth quality and customer support rather than rapid expansion at all costs.
In a separate governance development, the Board of Directors 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 SBV approval for his appointment as CEO, to soon succeed Mr. Le Quoc Long, whose three-year term ends in November 2026. This proactive leadership transition is designed to ensure 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 banking and governance 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 help unlock new growth drivers and create long-term value.
The combination of a lower profit target and fresh leadership underscores SeABank's effort to balance policy compliance with strategic continuity. By reducing deposit rates and focusing credit on priority sectors, the bank aims to contribute to economic recovery while maintaining asset quality. The leadership change, meanwhile, seeks to preserve institutional knowledge as the bank navigates a shifting regulatory and macroeconomic environment. For stakeholders, the announcement highlights how banks are being called upon to absorb short-term costs to support the wider economy, and how governance stability remains central to executing that mandate.
