SeABank has adjusted its 2026 business plan, reducing its profit-before-tax target by 15% to VND6,008 billion, the bank announced via Media OutReach Newswire. The move aligns with directives from the Vietnamese Government and the State Bank of Vietnam (SBV) to ease business difficulties, lower interest rates, and support economic growth.
The profit reduction is intended to fund 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 will prioritize credit allocation to businesses with sound financial foundations and viable business plans, while strengthening risk management. Third, SeABank will leverage existing customer ecosystems and value chains to provide integrated financial solutions, enhancing customer experience and engagement.
These measures reflect SeABank's alignment with policy directions and a strategic focus on growth quality and customer support over rapid expansion at all costs. For readers and industry observers, the decision signals how Vietnamese banks are balancing profitability with national economic priorities. Lower lending rates could benefit SMEs and green projects, but the reduced profit target may affect investor expectations. The emphasis on credit quality and risk management suggests a more cautious approach to growth, which could influence competition and lending standards in the sector.
In a separate governance move, the Board of Directors elected Ms. Tran Thi Thanh Thuy, a current BOD member, as its new Chairperson for the 2023–2028 term, effective October 22, 2026. The BOD also approved Mr. Le Van Tan's resignation as Chairperson and is completing documentation to receive SBV approval for his appointment as CEO. He would succeed Mr. Le Quoc Long, whose three-year term ends in November 2026. The bank described the leadership transition as proactive, ensuring continuity and stability in governance and executive management.
Ms. Tran Thi Thanh 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 BOD for the 2023–2028 term on April 17, 2024. Her extensive banking and governance experience is expected to support SeABank's safe, stable growth in line with international standards. The BOD 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 combined moves highlight SeABank's effort to reinforce senior leadership while responding to macroeconomic directives. For the wider banking industry, the profit target adjustment and rate cuts could set a precedent for other lenders under similar policy pressure. For customers, particularly SMEs and green projects, the changes may translate into more accessible credit. For investors, the reduced profit outlook and leadership reshuffle warrant attention as the bank navigates a shifting economic landscape.
