SeABank has adjusted its 2026 business plan, reducing its profit-before-tax target by 15% to VND6,008 billion, in response to directives from the Government and the State Bank of Vietnam (SBV) aimed at easing business difficulties, lowering interest rates, and supporting economic growth. The move, announced via Media OutReach Newswire, reflects the bank's alignment with national policy priorities over rapid expansion at all costs.
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 small and medium-sized enterprises (SMEs), priority sectors, and green projects. Second, the bank is reallocating credit toward businesses with sound financial foundations and viable business plans, 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 are significant because they demonstrate a bank prioritizing growth quality and customer support over short-term profit maximization. By lowering lending rates, SeABank aims to stimulate borrowing and investment in key sectors, aligning with broader government efforts to bolster economic activity. The focus on SMEs and green projects also signals a strategic shift toward sustainable and inclusive growth.
In a related governance move, the Board of Directors elected Ms. Tran Thi Thanh Thuy, a current board member, as its new Chairperson for the 2023–2028 term, effective October 22, 2026. The board also approved Mr. Le Van Tan's resignation as Chairperson and is completing documentation to receive SBV approval for his appointment as CEO, succeeding Mr. Le Quoc Long, whose three-year term ends in November 2026. This proactive leadership 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 Board 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 Board 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 dual announcement underscores SeABank's commitment to aligning with policy directions while strengthening senior leadership to navigate a challenging economic environment. The profit target adjustment may pressure short-term earnings but positions the bank for sustainable growth and reinforces its role in supporting Vietnam's economic recovery.
