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 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 improved risk management. Moody's noted that the bank's solvency profile has improved, evidenced by the BCA upgrade from B1 to Ba3. The positive outlook indicates that further upgrades are possible if the bank continues to enhance its creditworthiness.
Specifically, the upgrade of SeABank's Long-term Foreign and Local Currency Counterparty Risk Ratings to Ba2 and the Counterparty Risk Assessment to Ba2(cr) demonstrates a positive assessment of the bank's ability to meet financial obligations to counterparties. These upgrades reinforce SeABank's reputation in the financial market and enhance its capacity to expand partnerships and access funding from domestic and international financial institutions, as stated in the Moody's report.
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 highlights that SeABank's asset quality remained broadly stable, with the non-performing loans (NPL) ratio maintained at an appropriate level. New delinquencies are expected to remain low over the next 12–18 months, supported by the operating environment and the bank's 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, Moody's noted that SeABank's growing access to long-term funding from development financial institutions will further enhance the stability of its funding structure, mitigate refinancing risks, and support sustainable growth in the years ahead.
For more information, visit SeABank's website.
