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 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 July 30, 2026.
The upgrade reflects SeABank's strengthened intrinsic credit profile, driven by stable asset quality and stronger capital and risk management. Moody's noted that the bank's solvency profile has improved, supporting the BCA upgrade from B1 to Ba3. The positive outlook indicates potential for further rating improvements, contingent on Vietnam's sovereign rating upgrade and continued strengthening of SeABank's credit profile.
Moody's expects SeABank's asset quality to remain stable, with non-performing loans (NPL) maintained at appropriate levels and new delinquencies expected to stay low over the next 12–18 months, underpinned by a supportive operating environment. The bank's tangible common equity to risk-weighted assets (TCE/RWA) ratio is projected to remain above 12%, in line with domestic peers, reflecting solid capital position.
Additionally, Moody's highlighted SeABank's growing access to long-term funding from development financial institutions, which will enhance funding stability, mitigate refinancing risks, and support sustainable growth. The upgrades reinforce SeABank's reputation and ability to expand partnerships and access funding from domestic and international financial institutions. More details can be found at SeABank's website.
