As a result, the total assets of SeABank increased by US$1.39 billion compared to 2020, reaching US$9.36 billion. Total outstanding loans reached US$5.74 billion. Total deposits raised with customers reached US$5.69 billion. Total operating profit achieved $310.85 million, an increase of 53% year-on-year. SeABank’s pre-tax profit reached $144.38 millionequal to 135% of its 2021 budget thanks to a diversification of revenue sources and good management of operations.
Thanks to dynamic management of business activities, the total non-interest income of SeABank in 2021 reached $81.74 million, representing 26.3% of total revenue. This growth is achieved through the activities of trading, issuance of securities, insurance commission, service fees and above all credited to financial products and services implemented on modern digital banking technology platforms – SeAMobile. Furthermore, the cost income ratio (CIR) fell sharply to 36%, the NPL ratio continued to fall to 1.65%. The CAR ratio reached 11.64%, above the minimum level of 8% required by the State Bank of Vietnam and meet Basel capital ratio standards.
Considering technology as the central pillar, 2021 is a year of transformation when SeABank concentrates its resources in technology, continuously improving and digitizing SeAMobile/SeANet applications, registering 100% of eBank account online via eKYC. In 2021, the number of new eBanking users at SeABank increased by 201%, the number of transactions increased by 170% and the value of online transactions increased by almost 200% compared to the same period in 2020.
At the same time, aiming to serve more than 5.2 million customers by 2025, SeABank is expanding its cooperation with Google Cloud, using the advanced technology, which is cloud computing to store and secure customer information. , thereby driving product innovation, improving customer service and online experience.
Sharing the impact of the pandemic on businesses and individuals, SeABank echoed the State Bank of from vietnam interest rate reduction policy on loans until the end of 2021 with a reduced total interest amount for customers of USD 12.68 million, reaching 552% compared to the committed amount, the total value of the debt with interest rate reduction is US$3.5 billion for 58,522 customers.