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 bank's Ba3 Long-term bank deposit and issuer ratings were affirmed, and the outlook was changed 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 indicates a strengthened intrinsic credit profile, supported by stable asset quality, stronger capital, and improved risk management. Moody's noted that the bank's solvency profile has improved, with non-performing loans maintained at an appropriate level and new delinquencies expected to remain low over the next 12–18 months, underpinned by a supportive operating environment.
The upgrade of SeABank's Long-term foreign currency and local currency CRRs to Ba2 and the CR Assessment to Ba2(cr) reflects a positive assessment of the bank's ability to meet financial obligations to counterparties. This enhancement reinforces SeABank's reputation in the financial market and 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 potential for a one-notch rating upgrade if Vietnam's sovereign rating is upgraded in the future. Moody's highlighted that SeABank's growing access to long-term funding from development financial institutions will further enhance funding stability, mitigate refinancing risks, and support sustainable growth.
Regarding capital, Moody's expects SeABank to maintain a solid position, with its tangible common equity to risk-weighted assets ratio remaining above 12%, in line with domestic peers. The report underscores the bank's adequate track record in asset quality management and its ability to maintain stable credit metrics.
These upgrades and the positive outlook signal SeABank's strengthening financial profile and its ability to navigate the operating environment effectively. The bank's improved ratings may enhance its access to capital markets and lower funding costs, supporting its strategic initiatives. For more information, visit SeABank's website.
