SeABank has adjusted its 2026 business plan, reducing its profit-before-tax target by 15% to VND6,008 billion, according to an announcement distributed via Media OutReach Newswire. The move is aimed at aligning with the Government's and State Bank of Vietnam's (SBV) directives to ease business difficulties, lower interest rates, and support economic growth.
The decision matters because it signals a willingness by one of Vietnam's commercial joint stock banks to sacrifice short-term profitability for broader economic stability. By cutting its profit target, SeABank creates room to reduce lending rates, particularly for small and medium-sized enterprises, priority sectors, and green projects. This could help stimulate borrowing and investment at a time when the economy needs support.
The bank has already reduced annual deposit rates by 0.5–0.7 percentage points for tenors of six months or longer, which provides headroom to lower lending rates. In addition, SeABank is prioritizing credit allocation to businesses with sound financial foundations and viable business plans, while leveraging existing customer ecosystems and value chains to offer integrated financial solutions. These measures reflect a strategic focus on growth quality and customer support rather than rapid expansion at all costs.
In a related governance change, 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 Board 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, succeeding Mr. Le Quoc Long, whose three-year term ends in November 2026.
This leadership transition is significant because it 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 experience is expected to support the bank's safe, stable growth in line with international standards.
The Board currently has eight members, including two independent members and three foreign members, all with long-standing experience. Their collective expertise is expected to help SeABank unlock new growth drivers and create long-term value. Overall, the adjustments reflect SeABank's alignment with policy directions and its strategic focus on supporting customers and the wider economy, even as it strengthens its senior leadership team.
