SeABank Allowed to Early Apply Basel II

HANOI,Vietnam,Oct. 30,2019 -- Southeast Asia Commercial Joint Stock Bank (SeABank - Vietnam) was officially recognized by the State Bank of Vietnam to comply with Circular 41/2016/TT-NHNN dated 30 December 2016 in accordance with Basel II international standards. Meeting the strict norms of Basel II shows that SeABank is capable of preventing credit risks,market risks,operational risks and risks that may occur during its operation.

Meeting the Basel II norms is also an important premise for SeABank to continue growing strongly and fulfilling its goal of becoming the most favorite retail bank.

To meet Basel II standards,SeABank has met the high risk management standards and principles set by the State Bank to ensure safe,efficient,sustainable and transparent business activities,contributing todevelopment of thebanking industry.

SeABank has just completed the increase of its charter capital to VND 9,369 billion and in particular was announced by Moody's - one of the world's three most prestigious credit rating agency - of the result of B1 long-term rating. The recognition of Basel II standard has just confirmed SeABank's stable operation capability and also increased the Bank's advantages in business management,gradually developing new business models and improve risk management capacity. This is also an important premise for SeABank to continue growing strongly,soon fulfilling its goal of becoming the most favorite retail bankin Vietnam.

Over the past years,SeABank has been steadily growing in terms of business results and system development with 165 transaction points across 3 regions of the country and nearly 4,000 employees nationwide. SeABank is currently known as one of the pioneer banks in innovation and creation of products and services to provide the best,the most competitive personal financial services,offering maximum experience for customers. With the aim of meeting all the needs of customers,SeABank's products and services have been diversified,maximum supported in terms of procedures,documents and preferential competitive policies.

With constant efforts,SeABank is highly appreciated by many domestic and international organizations with several meaningful awards: ranked in the Top 500 largest and strongest banks in Asia - Pacific 2019 based on criteria of asset size,balance sheet by The Asian Banker Magazine (Singapore) - the leading prestigious magazine specializing in finance and banking and ranked 128/500 of the best profitable businesses in Vietnam (Profit 500) published by Vietnam Report.

Contact:

Mr. Tran Huy Hung

Deputy Director of SeABank's Communications and Marketing Division

Email: hung.th@seabank.com

Tel: (024) 3944 8688,ext. 7803

Website: www.seabank.com.vn

Photo - https://photos.prnasia.com/prnh/20191030/2626620-1?lang=0