Moody’s Ratings has upgraded several key credit ratings for Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB), including the Baseline Credit Assessment (BCA) to Ba3, the Long-term Counterparty Risk Ratings (CRRs) to Ba2, and the Long-term Counterparty Risk (CR) Assessment to Ba2(cr). The agency maintained SeABank’s Ba3 Long-term bank deposit and issuer ratings but changed the outlook to Positive from Stable.
The upgrade reflects SeABank’s strengthened intrinsic credit profile, supported by stable asset quality, stronger capital, and improved risk management. Moody’s noted that the bank’s solvency profile has improved, evidenced by the BCA upgrade from B1 to Ba3. The positive outlook indicates potential for further rating improvements if the bank continues to diversify its funding base and enhance funding stability over the next 12–18 months.
Moody’s also highlighted that SeABank’s asset quality remains broadly stable, with non-performing loans (NPL) at appropriate levels and new delinquencies expected to stay low. The bank’s tangible common equity to risk-weighted assets (TCE/RWA) ratio is projected to remain above 12%, in line with domestic peers. Additionally, growing access to long-term funding from development financial institutions will further stabilize the funding structure and mitigate refinancing risks.
The upgrade of SeABank’s long-term foreign and local currency counterparty risk ratings to Ba2 demonstrates a positive assessment of the bank’s ability to meet financial obligations. This reinforces SeABank’s reputation and enhances its capacity to expand partnerships and access funding from domestic and international institutions.
Moody’s also believes SeABank could achieve a one-notch rating upgrade if Vietnam’s sovereign rating is upgraded in the future. The positive outlook reflects the bank’s strengthened credit profile and the expectation of continued improvement in funding stability and asset quality.
These rating actions are significant for investors and stakeholders, as they signal SeABank’s improved financial health and reduced risk. The positive outlook may lead to lower borrowing costs and increased investor confidence, potentially benefiting the broader Vietnamese banking sector by attracting foreign investment and supporting economic growth.
For more information, visit SeABank’s website.
