Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB) has officially completed its charter capital increase to VND 34,288 billion, following approval from the State Bank of Vietnam. The additional capital, raised through the issuance of 583.8 million shares to existing shareholders, is expected to enhance the bank's market competitiveness, improve safety ratios, and expand its growth capacity.
On June 12, 2026, the State Bank of Vietnam issued Decision No. 1269/QD-NHNN amending SeABank's charter capital information. The capital was increased from VND 28,450 billion to VND 34,288 billion, an increase of VND 5,838 billion. The issuance was funded by accumulated undistributed after-tax profits as of December 31, 2025, according to SeABank's audited separate financial statements for 2025.
The capital increase is part of the roadmap approved by SeABank's 2026 Annual General Meeting of Shareholders (AGM). In the next phase, SeABank plans to further increase its charter capital through the issuance of up to 40 million ESOP shares at a price of no less than VND 10,000 per share, reserved for management personnel meeting defined criteria in terms of work performance, professional competence, and commitment to the bank.
In the context of increasingly stringent requirements for capital adequacy and digital transformation, the additional capital is expected to help SeABank improve safety ratios, expand business scale, and increase investment in technology infrastructure, laying a stronger foundation for the bank's growth in the period ahead. With a strengthened financial foundation, SeABank will continue to focus on expanding its retail banking business, accelerating digital transformation, and improving the quality of products and services to better meet customer needs, while delivering sustainable value for shareholders and stakeholders.
This capital increase positions SeABank to better navigate the evolving regulatory landscape and competitive pressures in Vietnam's banking sector. The infusion of capital will enable the bank to meet higher capital adequacy requirements and invest in advanced technology to enhance operational efficiency and customer experience. For industry observers, this move signals SeABank's commitment to strengthening its financial health and pursuing growth in retail banking and digital services, which are key drivers in the Vietnamese market.
The decision to use undistributed profits for the capital increase reflects prudent financial management and aligns with shareholder interests. The subsequent ESOP issuance is designed to incentivize key personnel, aligning their interests with the bank's long-term performance. As Vietnam's banking sector continues to modernize, SeABank's enhanced capital base will support its ability to compete and innovate.
