SeABank reduces 2026 profit target and announces leadership changes

Southeast Asia Commercial Joint Stock Bank (SeABank) has approved a resolution to reduce its 2026 pre-tax profit target by 15%, bringing the goal down to 6,008 billion VND. This adjustment, a reduction of approximately 1,060 billion VND from previous projections, is intended to support the national economy by facilitating lower interest rates for businesses and individuals.

To support economic recovery, SeABank has implemented reductions of 0.5% to 0.7% per year on deposit interest rates for terms of six months or longer. The bank aims to focus credit on priority sectors, small and medium enterprises (SMEs), and green projects while tightening capital management and optimizing operating costs.

In a significant leadership reshuffle, the Board of Directors has accepted the resignation of Mr. Le Van Tan from his position as Chairman. The bank is preparing documentation for the State Bank of Vietnam to approve Mr. Tan as the new General Director, succeeding Mr. Le Quoc Long. Additionally, the Board has elected Ms. Tran Thi Thanh Thuy, a current Board member, to serve as the new Chairwoman for the 2023–2028 term.