SeABank Adjusts 2026 Profit Target to Support Vietnam's Economy, Elects New Board Chair

SeABank, officially Southeast Asia Commercial Joint Stock Bank (stock code: SSB), has adjusted its 2026 business plan, reducing its profit-before-tax target by 15% to VND6,008 billion. The move, announced via Media OutReach Newswire, 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 target reduction enables three key actions. First, the bank 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, credit allocation will prioritize businesses with sound financial foundations, viable business plans, and customers in priority sectors, alongside strengthened 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 strategic focus on growth quality and customer support over rapid expansion at all costs. For Texas businesses, the announcement underscores how financial institutions in emerging markets are adjusting strategies to foster sustainable economic development—a principle that resonates with Texas companies navigating their own growth challenges.

In a related 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, 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. 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 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. This diversity is poised to help SeABank unlock new growth drivers and create long-term value. The leadership change and profit adjustment signal SeABank's commitment to aligning with policy directions while maintaining strategic focus on quality and customer support—a model that could inform Texas businesses and financial institutions as they navigate economic uncertainties and pursue sustainable growth.