Southeast Asia Commercial Joint Stock Bank (SeABank, stock code: SSB) has received approval from the State Bank of Vietnam (SBV) to increase its charter capital to VND34,688 billion (approx. US$1.33 billion), according to a Media OutReach Newswire announcement. The approval, granted under Official Letter No. 2370/QĐ-NHNN dated October 28, 2026, raises the bank's charter capital from VND34,288 billion to VND34,688 billion, an increase of VND400 billion (approx. US$15.38 million) through a share issuance under the Employee Stock Ownership Plan (ESOP).
The ESOP issuance was completed with results reported in August 2026. A total of 40 million shares were issued at VND10,000 (approx. US$0.38) per share to 481 employees with outstanding performance, achieving 100% of the planned volume. This marks SeABank's second capital increase in 2026, following an earlier increase of VND5,838 billion (approx. US$224.5 million) through a share issuance to existing shareholders at a ratio of 20.5%, completing the plan approved by the Annual General Meeting of Shareholders.
The additional capital will provide SeABank with resources to strengthen its financial foundation, enhance its capacity to meet capital adequacy requirements, invest in technology infrastructure, accelerate digital transformation and expand its operations. This is expected to bolster the bank's competitiveness and ability to adapt to market fluctuations as it pursues its development objectives.
Alongside financial capacity, SeABank emphasizes developing high-quality human resources to support long-term goals. This is the fifth time the bank has implemented an ESOP, reflecting recognition of employee contributions. The program aims to encourage long-term commitment, improve work performance and foster a shared commitment to SeABank's growth.
The completion of the charter capital increase reinforces SeABank's sustainable development orientation, with financial strength and human capital as key pillars for improving operational efficiency and enhancing market competitiveness. For readers and investors, the move signals SeABank's proactive approach to capital management and its focus on aligning employee interests with long-term performance, which could contribute to stability and growth in Vietnam's banking sector.
