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), while maintaining the Ba3 Long-term bank deposit and issuer ratings. The agency also changed the bank's outlook to Positive from Stable, signaling potential for further upgrades.
The upgrade reflects SeABank's strengthened intrinsic credit profile, driven by stable asset quality, stronger capital and risk management. Moody's noted that the bank's solvency profile has improved, supported by a non-performing loans ratio maintained at an appropriate level and expectations that new delinquencies will remain low over the next 12–18 months amid a supportive operating environment.
Moody's also highlighted SeABank's solid capital position, with its tangible common equity to risk-weighted assets ratio expected to remain above 12%, in line with domestic peers. The bank's growing access to long-term funding from development financial institutions will further enhance funding stability and mitigate refinancing risks, supporting sustainable growth.
The positive outlook reflects Moody's expectation that SeABank's credit profile will benefit from ongoing efforts to diversify its funding base and improve funding stability over the next 12–18 months. Additionally, the agency believes SeABank has the potential for a one-notch rating upgrade if Vietnam's sovereign rating is upgraded in the future.
These upgrades reinforce SeABank's reputation in the financial market and enhance its ability to expand partnerships and access funding from domestic and international financial institutions. For more information, visit SeABank's website.
