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 Rating (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, while the outlook was changed to Positive from Stable, according to a report released on July 30, 2026.
The upgrade reflects a strengthened intrinsic credit profile for SeABank. Moody's noted that the bank's solvency profile has improved, supported by stable asset quality, stronger capital, and enhanced risk management. The BCA and Adjusted BCA were upgraded from B1 to Ba3, indicating a positive assessment of the bank's financial health.
The upgrade of SeABank's Long-term FC and LC Counterparty Risk Ratings to Ba2 and the Long-term CR Assessment to Ba2(cr) demonstrates the bank's improved ability to meet financial obligations to counterparties. This enhances SeABank's reputation in the financial market and its capacity to expand partnerships and access funding from domestic and international 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 that SeABank has the potential for a one-notch rating upgrade if Vietnam's sovereign rating is upgraded in the future.
The report noted that SeABank's asset quality remained broadly stable, with non-performing loans (NPL) ratio maintained at an appropriate level. New delinquencies are expected to remain low over the next 12–18 months, underpinned by a supportive operating environment and the bank's adequate track record in asset quality management.
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. Additionally, SeABank's growing access to long-term funding from development financial institutions will further enhance funding stability, mitigate refinancing risks, and support sustainable growth.
For more information, visit SeABank's website.
