HANOI, VIETNAM - Moody's Ratings has upgraded several key credit ratings for Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB), including the Baseline Credit Assessment (BCA) to Ba3, the Long-term Counterparty Risk Ratings (CRRs) to Ba2, and the Long-term Counterparty Risk (CR) Assessment to Ba2(cr). The agency maintained SeABank's Ba3 Long-term bank deposit and issuer ratings while changing the outlook to Positive from Stable, according to a report released on July 30, 2026.
The upgrade of SeABank's BCA and Adjusted BCA from B1 to Ba3 reflects Moody's view that the bank's solvency profile has strengthened, supported by stable asset quality, stronger capital, and improved risk management. The change in outlook to Positive from Stable on the Ba3 deposit and issuer ratings further underscores the bank's strengthened intrinsic credit profile. The upgrade of SeABank's Long-term foreign currency and local currency CRRs to Ba2 and the Long-term CR Assessment to Ba2(cr) demonstrates a positive assessment of the bank's ability to meet its financial obligations to counterparties, reinforcing its reputation in the financial market and enhancing its capacity to expand partnerships and access funding from domestic and international financial institutions.
Moody's expects SeABank's credit profile to benefit from ongoing efforts to diversify its funding base and improve funding stability over the next 12–18 months. The agency also believes SeABank has the potential for a one-notch rating upgrade if Vietnam's sovereign rating is upgraded in the future. The report notes that SeABank's asset quality remained broadly stable, with the non-performing loans ratio maintained at an appropriate level and new delinquencies expected to remain low over the next 12–18 months, underpinned by the supportive operating environment and the bank's adequate track record in asset quality management.
Furthermore, Moody's expects SeABank to maintain a solid capital position, with its tangible common equity to risk-weighted assets (TCE/RWA) ratio remaining above 12%, in line with domestic peers. Moody's also noted that SeABank's growing access to long-term funding from development financial institutions will further enhance the stability of the funding structure, mitigate refinancing risks, and support the bank's sustainable growth in the years ahead. For more information, visit SeABank's website.
