SeABank has received approval from the State Bank of Vietnam to increase its charter capital to VND34,688 billion, approximately US$1.33 billion, according to an announcement carried by Media OutReach Newswire. The approval, issued under Official Letter No. 2370/QĐ-NHNN dated October 28, 2026, lifts the bank's charter capital from VND34,288 billion, or roughly US$1.32 billion.
The increase of VND400 billion, about US$15.38 million, was raised through a share issuance under the Employee Stock Ownership Plan. The ESOP issuance was completed and reported in August 2026, with 40 million shares issued at VND10,000, approximately US$0.38, per share to 481 employees with outstanding performance. The bank said the issuance reached 100% of its planned volume.
The move matters for SeABank's capital position at a time when Vietnamese lenders face sustained pressure to meet capital adequacy requirements while funding technology and digital expansion. The additional capital will strengthen the bank's financial capacity and improve its capital adequacy ratios, while giving it resources to invest in technology infrastructure, accelerate digital transformation and expand operations. SeABank framed the increase as a foundation for improving competitiveness and adapting to market fluctuations in its next phase of development.
This is SeABank's second capital increase in 2026 and completes the plan approved by its Annual General Meeting of Shareholders. Earlier in the year, the bank raised its charter capital by VND5,838 billion, approximately US$224.5 million, through a share issuance to existing shareholders at a ratio of 20.5%. The combination of a shareholder issuance and an employee program suggests a funding strategy that draws on both external investors and internal staff.
The employee component carries significance beyond the balance sheet. This is the fifth time SeABank has implemented an ESOP, which the bank said reflects its recognition of the achievements and contributions of its management team and employees. Such programs are typically designed to encourage long-term commitment, improve work performance and align staff with company growth. By tying a portion of the capital raise to employee ownership, SeABank is signaling that it views high-quality human capital as a pillar of sustainable growth alongside financial strength.
For the bank's shareholders and employees, the approval removes uncertainty over whether the 2026 capital plan would be fully executed. For the broader Vietnamese banking sector, the completion adds another data point on how mid-sized lenders are building capital buffers and financing digital investments. SeABank said the capital increase reinforces its sustainable development orientation, with financial capacity and high-quality human resources serving as two key pillars for improving operational efficiency, enhancing market competitiveness and pursuing safe, efficient and sustainable growth.
