Seabank Power Station

SeABank and AEON Financial Service have signed a Memorandum of Understanding for strategic cooperation and exchanged the Capital Transfer Agreement of PTF Financial Company

Retrieved on:

Monday, December 18, 2023

AEON, Transfer, VND, Computer, Memorandum, Seabank Power Station, PTF, SSB, USD, City, State Bank of Vietnam, Documentation, Aeon Group, METI, State bank, Motorcycle, POS, Bank

AEON Financial is a member of the financial sector within the AEON Group, the largest retail conglomerate in Japan, with a strong presence in Japan, China, and Southeast Asia, including Vietnam.

Key Points:

AEON Financial is a member of the financial sector within the AEON Group, the largest retail conglomerate in Japan, with a strong presence in Japan, China, and Southeast Asia, including Vietnam.
As of the end of February 2023, AEON Financial has reached 48 million credit card users.
The signing of the Memorandum of Understanding for strategic cooperation opens opportunities for SeABank and AEON Financial to deepen collaboration, aiming to become comprehensive partners and maximize the strengths of both parties.
Before, SeABank and AEON Financial had signed a contract to transfer the entire capital contribution of SeABank to Postal Finance Company (PTF) for a transfer price of 4,300 billion VND.

Moody's affirmed Ba3 rating and stable outlook for SeABank

Retrieved on:

Friday, September 15, 2023

Moody's Investors Service, Strategic Cooperation Agreement, SSB, TCE, Orient Commercial Joint Stock Bank, Payment Guaranteed, Seabank Power Station, Tangible common equity, BCA, Customer, Supply chain finance, Issuer, Supply, B1, Postcodes in the United Kingdom, FMCG, SCF, Security (finance), Bank

Moody's has affirmed SeABank's rating at Ba3 and stable outlook.

Key Points:

Moody's has affirmed SeABank's rating at Ba3 and stable outlook.
The affirmation of SeABank's ratings with a stable outlook reflects Moody's expectation that the bank's strong and improving capitalization.
According to Moody's, SeABank continues to receive a Ba3 credit rating for both Issuer and Foreign Currency Deposit ratings.
Moody's affirmation of SeABank's rating with a stable outlook reflects the organization's expectations of the bank's strong and improving capital.

Moody's affirmed Ba3 rating and stable outlook for SeABank

Retrieved on:

Friday, September 15, 2023

Moody's has affirmed SeABank's rating at Ba3 and stable outlook.

Key Points:

Moody's has affirmed SeABank's rating at Ba3 and stable outlook.
The affirmation of SeABank's ratings with a stable outlook reflects Moody's expectation that the bank's strong and improving capitalization.
According to Moody's, SeABank continues to receive a Ba3 credit rating for both Issuer and Foreign Currency Deposit ratings.
Moody's affirmation of SeABank's rating with a stable outlook reflects the organization's expectations of the bank's strong and improving capital.

SeABank's stock, SSB, has been selected by HOSE to be included in the VN30-Index basket

Retrieved on:

Monday, July 31, 2023

State Bank of Vietnam, HOSE, SSB, Frontier markets, VND, Government, Seabank Power Station, MSCI, ETF, State bank, Growth, Exchange-traded fund, Cryptocurrency

According to the press release, on July 17, 2023, HOSE announced the portfolio of stocks included in the VN30 and VN-Finlead indexes, which would be effective from August 7, 2023.

Key Points:

According to the press release, on July 17, 2023, HOSE announced the portfolio of stocks included in the VN30 and VN-Finlead indexes, which would be effective from August 7, 2023.
SSB was chosen to be included in the VN30 basket as it met the requirements set by the HOSE Index Rules.
Previously, SSB was also added to the Morgan Stanley Capital Index (MSCI) Frontier Markets Index starting from March 1, 2023.
According to experts, stocks included in the MSCI Frontier Markets Index may be targeted by ETF (Exchange Traded Fund) funds that track frontier market stocks.

SeABank's stock, SSB, has been selected by HOSE to be included in the VN30-Index basket

Retrieved on:

Monday, July 31, 2023

State Bank of Vietnam, HOSE, SSB, Frontier markets, VND, Multimedia, Government, Seabank Power Station, MSCI, ETF, State bank, Growth, Exchange-traded fund, Cryptocurrency

According to the press release, on July 17, 2023, HOSE announced the portfolio of stocks included in the VN30 and VN-Finlead indexes, which would be effective from August 7, 2023.

Key Points:

According to the press release, on July 17, 2023, HOSE announced the portfolio of stocks included in the VN30 and VN-Finlead indexes, which would be effective from August 7, 2023.
SSB was chosen to be included in the VN30 basket as it met the requirements set by the HOSE Index Rules.
Previously, SSB was also added to the Morgan Stanley Capital Index (MSCI) Frontier Markets Index starting from March 1, 2023.
According to experts, stocks included in the MSCI Frontier Markets Index may be targeted by ETF (Exchange Traded Fund) funds that track frontier market stocks.

FinVolution Subsidiary AdaKami Cooperates with PT Bank Seabank Indonesia to propel growth in Indonesia

Retrieved on:

Thursday, July 27, 2023

API, Growth, US, Partnership, Economic development, NYSE, Seabank Power Station, Cryptocurrency

SHANGHAI, July 27, 2023 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform, today announced that its Indonesian financial application, AdaKami, has entered into a strategic cooperation agreement with PT Bank Seabank Indonesia ("SeaBank"), a digital bank dedicated to bettering the lives of consumers and small businesses in the region with technology.

Key Points:

SHANGHAI, July 27, 2023 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform, today announced that its Indonesian financial application, AdaKami, has entered into a strategic cooperation agreement with PT Bank Seabank Indonesia ("SeaBank"), a digital bank dedicated to bettering the lives of consumers and small businesses in the region with technology.
AdaKami's latest strategic collaboration with SeaBank will enable customers to seamlessly conduct real-time funding transactions through API, supplying individuals and small businesses with direct access to fintech solutions that contribute to Indonesian economic development.
Mr. Tiezheng Li, President and Chief Executive Officer of FinVolution Group, commented, "Driven by our Local Focus, Global Outlook strategy, FinVolution is proud to support Indonesia's economic growth through technology.
AdaKami's partnership with SeaBank will empower underserved customers throughout the country with faster, simpler and more direct banking services.

SeABank successfully completed the business plan of 2022

Retrieved on:

Friday, February 3, 2023

HANOI, Vietnam, Feb. 3, 2023 /PRNewswire/ -- Despite 2022's unstable markets, SeABank (stock code: SSB) successfully maintained a stable growth and completed the business plan set out in 2022 with impressive profit-before-tax of nearly US$216.16 million, completing 104% of 2022's profit plan thanks to proactive business solutions and risk management.

Key Points:

HANOI, Vietnam, Feb. 3, 2023 /PRNewswire/ -- Despite 2022's unstable markets, SeABank (stock code: SSB) successfully maintained a stable growth and completed the business plan set out in 2022 with impressive profit-before-tax of nearly US$216.16 million, completing 104% of 2022's profit plan thanks to proactive business solutions and risk management.
Moreover, SeABank has increased its charter capital to US$844.73 million in 2022.
It is on track of reaching US$870.06 million, partly with the implementation of 2022 ESOP programme that benefited more than 2,500 employees.
In 2022, SeABank continuously implemented and applied international standards to banking operations.

SeABank successfully completed the business plan of 2022

Retrieved on:

Friday, February 3, 2023

HANOI, Vietnam, Feb. 3, 2023 /PRNewswire/ -- Despite 2022's unstable markets, SeABank (stock code: SSB) successfully maintained a stable growth and completed the business plan set out in 2022 with impressive profit-before-tax of nearly US$216.16 million, completing 104% of 2022's profit plan thanks to proactive business solutions and risk management.

Key Points:

HANOI, Vietnam, Feb. 3, 2023 /PRNewswire/ -- Despite 2022's unstable markets, SeABank (stock code: SSB) successfully maintained a stable growth and completed the business plan set out in 2022 with impressive profit-before-tax of nearly US$216.16 million, completing 104% of 2022's profit plan thanks to proactive business solutions and risk management.
Moreover, SeABank has increased its charter capital to US$844.73 million in 2022.
It is on track of reaching US$870.06 million, partly with the implementation of 2022 ESOP programme that benefited more than 2,500 employees.
In 2022, SeABank continuously implemented and applied international standards to banking operations.

IFC invests a US$ 75 million convertible loan in SeABank

Retrieved on:

Friday, October 14, 2022

HANOI, Vietnam, Oct. 14, 2022 /PRNewswire/ -- IFC's investment is aimed at impulsing SeABanks's development strategies and increasing access to finance for SMEs and women-owned SMEs. Specifically, in line with IFC's approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities. This will help contribute to Vietnam's climate targets including phasing out coal-fueled power generation by 2040 and achieving net zero carbon emissions by 2050. This commitment by SeABank will be a condition for IFC's consideration to convert this loan to common shares within the next five years.

Key Points:

International Finance Corporation (IFC) invested a US$75 million convertible loan in Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code SSB).
IFC will have an option to convert its loan to common shares of SeABank within 5 years.
Specifically, in line with IFC's approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities.
The new US$ 75 million convertible loan shows IFC's acknowledgment of SeABank's performance, credibility, and commitment to expanding its SME reach-out and addressing climate challenges in Vietnam.

IFC invests a US$ 75 million convertible loan in SeABank

Retrieved on:

Friday, October 14, 2022

HANOI, Vietnam, Oct. 14, 2022 /PRNewswire/ -- IFC's investment is aimed at impulsing SeABanks's development strategies and increasing access to finance for SMEs and women-owned SMEs. Specifically, in line with IFC's approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities. This will help contribute to Vietnam's climate targets including phasing out coal-fueled power generation by 2040 and achieving net zero carbon emissions by 2050. This commitment by SeABank will be a condition for IFC's consideration to convert this loan to common shares within the next five years.

Key Points:

International Finance Corporation (IFC) invested a US$75 million convertible loan in Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code SSB).
IFC will have an option to convert its loan to common shares of SeABank within 5 years.
Specifically, in line with IFC's approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities.
The new US$ 75 million convertible loan shows IFC's acknowledgment of SeABank's performance, credibility, and commitment to expanding its SME reach-out and addressing climate challenges in Vietnam.