Southeast Asia Commercial Joint Stock Bank (SeABank, stock code: SSB) has received approval from the State Bank of Vietnam to increase its charter capital to VND34,688 billion (approx. US$1.33 billion), according to a press release distributed via Media OutReach Newswire. The approval, granted under Official Letter No. 2370/QĐ-NHNN dated October 28, 2026, raises the bank’s charter capital from VND34,288 billion (approx. US$1.32 billion) through an additional VND400 billion (approx. US$15.38 million) raised via a share issuance under its Employee Stock Ownership Plan (ESOP).
The ESOP issuance, completed with results reported in August 2026, involved 40 million shares issued at VND10,000 (approx. US$0.38) per share to 481 employees with outstanding performance, reaching 100% of the planned volume. This marks SeABank’s second capital increase in 2026, completing the plan approved by its Annual General Meeting of Shareholders. Earlier in the year, the bank raised its charter capital by VND5,838 billion (approx. US$224.5 million) through a share issuance to existing shareholders at a ratio of 20.5%.
The significance of the move lies in its dual focus: strengthening the bank’s financial foundation and retaining talent. The additional capital will provide SeABank with resources to enhance its capacity to meet capital adequacy requirements, invest in technology infrastructure, accelerate digital transformation and expand operations. This is intended to bolster the bank’s competitiveness and ability to adapt to market fluctuations as it pursues its development objectives in the next phase.
At the same time, the ESOP—now implemented for the fifth time—reflects SeABank’s recognition of employee contributions and is designed to encourage long-term commitment, improve work performance and foster a shared commitment to the bank’s growth. By linking capital expansion with human resource development, the bank is positioning financial strength and high-quality personnel as two key pillars for improving operational efficiency and pursuing safe, efficient and sustainable growth.
The completion of the charter capital increase reinforces SeABank’s sustainable development orientation and provides a stronger buffer as the bank invests in technology and expands its operations. For a Vietnamese bank operating in a competitive and evolving market, the ability to raise capital while aligning employee incentives with long-term performance can support stability and growth. The approval also signals regulatory backing for the bank’s capital strategy, which may enhance confidence among stakeholders as SeABank moves into its next phase of development.
