SeABank has adjusted its 2026 business plan, reducing its profit-before-tax target by 15% to VND6,008 billion, a move that signals a deliberate trade-off between short-term profitability and broader economic support. The decision aligns with directives from the Government and the State Bank of Vietnam (SBV) to ease business difficulties, lower interest rates, and foster economic growth, according to an announcement distributed via Media OutReach Newswire.
The profit reduction is not merely a financial adjustment; it is the funding mechanism for three concrete actions. First, SeABank has cut annual deposit rates by 0.5 to 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 is reallocating credit toward businesses with sound financial foundations and viable business plans, while tightening risk management. Third, SeABank is leveraging its existing customer ecosystems and value chains to provide integrated financial solutions, enhancing customer experience and engagement.
These measures reflect a strategic focus on growth quality and customer support over rapid expansion at all costs. For the broader Vietnamese economy, SeABank's willingness to sacrifice profit to lower lending rates could encourage other banks to follow suit, amplifying the SBV's efforts to reduce borrowing costs. SMEs, which often struggle with access to affordable credit, stand to benefit most, potentially stimulating investment and job creation in priority sectors.
In a parallel move to strengthen senior leadership, 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 with long-standing experience, supporting SeABank to unlock new growth drivers and create long-term value.
The dual announcement—lower profit guidance and a leadership reshuffle—positions SeABank as a bank prioritizing policy alignment and governance stability. For investors, the reduced profit target may temper near-term earnings expectations, but the emphasis on risk management and ecosystem leverage could yield more sustainable returns. For the market, the leadership transition reduces uncertainty around executive continuity, a critical factor for a bank navigating a challenging economic environment.
