Moody's Ratings has upgraded 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 reflects SeABank's strengthened intrinsic credit profile, supported by stable asset quality, stronger capital and risk management. Moody's noted that the bank's solvency profile has improved, evidenced by the BCA upgrade from B1 to Ba3. The bank's non-performing loans ratio (NPL) remains at an appropriate level, and new delinquencies are expected to stay low over the next 12-18 months, underpinned by the supportive operating environment and the bank's track record in asset quality management.
Moody's also 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. The upgrade of the Long-term CRRs to Ba2 and CR Assessment to Ba2(cr) underscores the bank's ability to meet financial obligations to counterparties, enhancing its reputation and access to funding from domestic and international financial institutions.
Furthermore, Moody's anticipates 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. The agency also noted that SeABank's growing access to long-term funding from development financial institutions will further enhance the stability of its funding structure and mitigate refinancing risks. The positive outlook reflects the potential for a one-notch rating upgrade if Vietnam's sovereign rating is upgraded in the future.
SeABank's upgraded ratings and positive outlook signal its strengthened position in the financial market, enabling it to expand partnerships and access funding more effectively. For more information, visit SeABank's website.
