SeABank cuts profit target by 15% and names new chairperson

Cutting the target lets SeABank lower its lending rates for SMEs, priority sectors, and green projects, the bank said.

Southeast Asia Commercial Joint Stock Bank (SeABank) has lowered its profit before tax target for 2026 and elected a new board chairperson.

The Vietnam-based bank reduced its profit before tax target by 15% to $232.57m (VND6.008t), which in turn enabled the bank to reduce its deposit and loan interest rates, according to an announcement on 27 October.

SeABank cut its annual deposit rates by 0.5 to 0.7 percentage points for tenors of six months or longer. This creates room to lower lending rates, particularly for small and medium enterprises, priority sectors, and green projects, according to SeABank.

The bank also said that it “prioritizes businesses with sound financial foundations and viable business plans, and customers in priority sectors.”

SeABank has also appointed Tran Thi Thanh Thuy as its new chairperson for the 2023 to 2028 term, effective 22 October.

She will replace Le Van Tan, who has been appointed as CEO of SeABank.

Le succeeds Le Quock Long, whose three-year term ends in November.

Tran joined SeABank in 2015 and has worked in the banking and finance industry for 40 years. She previously served as SeABank’s deputy CEO and was elected to the board of directors in April 2024.

(US$1 = VND 25,832.98; as of 27 October 2026)