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 is intended to align with the Vietnamese Government’s and State Bank of Vietnam’s (SBV) directives to ease business difficulties, lower interest rates, and support economic growth.
The reduction in the profit target is designed to enable 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, priority sectors, and green projects. Second, the bank will prioritize credit allocation to businesses with sound financial foundations and viable business plans, as well as customers in priority sectors. 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. The decision matters because it signals a willingness to sacrifice short-term profitability to help alleviate pressure on borrowers and stimulate economic activity, particularly for SMEs and green initiatives that are central to Vietnam’s sustainable development goals.
In a separate governance development, 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 the SBV’s approval for his appointment as CEO, to soon succeed 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. 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 have long-standing experience, supporting SeABank to unlock new growth drivers and create long-term value. The leadership changes and revised business plan come at a critical time for Vietnam’s banking sector, as lenders balance profitability against the need to support a recovering economy. SeABank’s decision to lower profit expectations could set a precedent for other banks facing similar policy pressures, while the new chairperson’s deep experience may help steer the bank through a period of shifting regulatory and economic priorities.
