The meeting approved many important contents, including a business plan in 2022 with a profit of VND 4,866.6 billion, a plan to increase charter capital to VND 22,690 billion and elect more members of the Board of Directors ( Board of Directors) is independent.
Flexibility to adapt to new situations
Reporting at the General Meeting, Ms. Le Thu Thuy – General Director of SeABank said that 2021 will be strongly affected by the COVID-19 pandemic, but thanks to a flexible shift in business activities, diversification of income sources , actively developing digital technology, SeABank continues to have stable growth steps, operate effectively, thereby increasing the optimal experience for customers.
At the end of 2021, SeABank achieved positive business results with pre-tax profit of more than VND 3,268.5 billion, up 89% compared to 2020 and completing 135% of the 2021 plan; Total assets reached more than 211,663 billion VND, up 17.5% compared to 2020. Return on average assets (ROA) and return on average equity (ROE) were respectively. 1.33% and 16.12%; bad debt ratio at 1.65%.
In addition, SeABank also completed the increase of charter capital from 12,087 billion VND to 14,785 billion VND in 2021 and to 16,598 billion VND in the first quarter of 2022, becoming one of the 9 private commercial joint stock banks with charter capital. Vietnam’s largest.
SeABank also continued to have its credit rating of B1 maintained by Moody’s and upgraded its outlook from Stable to Positive. It was also the only bank in Vietnam that was voted by The Banker (UK) as the “Bank of the Year”. year 2021”.
This is also an important basis to affirm the position, potential and reputation of SeABank with customers and partners, especially the foreign investment community as well as credit rating agencies, and is always at the forefront. in meeting the highest international standards, proactively, transparently, safely and sustainably administering and operating business operations.
Profit before tax reached 4,866.6 billion VND
2022 is a year of strong development in SeABank’s 2020 – 2025 development strategy. Therefore, the Bank’s Board of Directors submitted to the General Meeting of Shareholders many important contents, including the business plan for 2022.
According to the 2022 business plan approved by the General Meeting of Shareholders, SeABank sets the target: total assets are expected to grow by 10%; deposits are expected to grow at a net 22,000 billion dong, equivalent to an increase of 16% compared to 2021; The credit growth rate is expected to be up to 17%, depending on the approval of the State Bank of Vietnam, equivalent to a net growth of VND 24,000 billion compared to 2021.
In 2022, the Bank sets a target of pre-tax profit of VND 4,866.6 billion and a bad debt ratio under 2%.
In order to complete the set plan, in 2022 SeABank will continue to implement many synchronous solutions, which are focusing on risk management and compliance control, diversifying products and services, making the most of exploitation. strategic partner ecosystem, deploying a digital convergence strategy, strongly investing in technology, especially comprehensive digitization of operating processes in credit, payment, customer service activities… bring operational and transaction efficiency, increase customer experience.
Along with that, SeABank will continue to diversify products for customers, improve and develop non-interest income, insurance, foreign exchange, etc. The bank also plans to continue to grow fee income in order to increase its income. stabilize and diversify income sources, focusing on services such as insurance, foreign exchange, digital banking and credit cards.
Increase charter capital to 22,690 billion VND
Another important content approved by the General Meeting of Shareholders is the plan to increase charter capital from VND 16,598 billion to VND 22,690 billion. The Bank will increase charter capital through the following activities: issuing shares to pay dividends and increase capital from equity, issuing shares under the selection program for SeABank’s employees in 2022 ( ESOP 2022) and private placement.
Specifically, SeABank plans to issue 321,100,000 ordinary shares with par value of 10,000 VND/share, of which 211,400,000 shares (equivalent to 12.7%) to pay dividends in 2021 and issue 109,700 .000 shares (equivalent to 6.6% rate) for existing shareholders to increase share capital from owner’s equity.
Thus, each SSB shareholder will receive dividends in shares and shares to increase capital from owners’ equity at the total rate of nearly 20%.
With the ESOP 2022 issuance plan, the Bank plans to issue 59,400,000 shares to employees. In addition, depending on conditions suitable to the set objectives, SeABank plans to offer private placement to foreign investors or offer to existing shareholders 228,700,000 shares.
In addition, the General Meeting of Shareholders of SeABank also approved the election of an additional independent member of the Board of Directors, Mr. Mathew Nevil Welch – Master of Business Administration from Harvard Business School (USA), with nearly 40 years of experience working in the field of Business Administration. at the bank itself, source of capital, supervision of strategic consulting at international financial institutions such as: Standard Chartered Bank, HSBC Bank, Afrasia Bank (Mauritius), Xacbank (Mongolia), the Company Asia Capital & Advisors (Singapore), Thonglor Associates Private Limited Company (Singapore)…
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