HANOI, Vietnam, Feb. 3, 2023 /PRNewswire/ -- Despite 2022's unstable markets, SeABank (stock code: SSB) successfully maintained a stable growth and completed the business plan set out in 2022 with impressive profit-before-tax of nearly US$216.16 million, completing 104% of 2022's profit plan thanks to proactive business solutions and risk management.

Notably, Total assets reached US$9.87 billion, increasing 9.34%; Return on assets (ROA) and Return on equity (ROE) are respectively 1.83% and 18.1%, showing SeABank's top-tier efficiency; cost-to-income ratio (CIR) decreased to 35.3% and bad debt decreased to 1.60%.

Remarkably, net non-interest income (NOII) has impressively grown by 43%, reaching US$112.6 million and accounting for 12.7% of total revenue. This demonstrates SeABank's stability and sustainability, which are further enhanced through product structure diversification; digital banking and non-credit activities development; effective utilization of existing customer profiles.

Moreover, SeABank has increased its charter capital to US$844.73 million in 2022. It is on track of reaching US$870.06 million, partly with the implementation of 2022 ESOP programme that benefited more than 2,500 employees.

In 2022, SeABank continuously implemented and applied international standards to banking operations. Typically, the Bank applied Basel III risk management standards and International Financial Reporting Standards (IFRS), received Ba3 ratings from Moody's for many categories.

Simultaneously, SeABank expanded international cooperation and attracted valuable investments totaling up to US$500 million from DFC, IFC and other international investment funds. This improved SeABank's financial capacity to support SMEs, especially women-owned ones, and green credit. This also diversifies with capital mobilization channels, thus increasing low-cost capital to benefit customers.

"Digital convergence" strategy also enhanced SeABank's competitive advantages. Particularly, the Bank has automated working process through applications like e-office (SeAOffice), FPT.AI virtual assistant, etc. Besides, SeABank applied the most updated technologies like AI, cloud computing, etc. to build business-responsive applications and digitize products, services. This led to optimized costs and operating time, promoting convenience and experience for both customers and employees. As a result, SeABank reached an impressive e-bank user growth with 941,608 new users.

SeABank also kept expanding its operating network, bringing the total number of transaction points to 180 across 31 regions nationwide. SeABank's brand reputation and strong growth in 2022 are marked by various prestigious awards and honors: Vietnam National Brand 2022 (Ministry of Industry and Trade), "Top 1000 World Banks 2022" (The Banker), "Best Companies to Work for in Asia 2022" (HR Asia), "Bank of the Year" (The Banker), etc.