Moody's affirmation of SeABank's rating with a stable outlook reflects the organisation's expectations of the bank's strong and improving capital. — Photo courtesy of the bank

The international credit rating agency Moody’s Investors Service on September 13 affirmed SeABank's rating at Ba3 and stable outlook.

According to Moody’s, SeABank held a Ba3 credit rating for both issuer and foreign currency deposits. Additionally, Moody's affirmed SeABank's baseline credit assessment (BCA) at B1 and SeABank's TCE (Tangible Common Equity) ratio at 12.9 per cent as of June which was among the highest for banks rated by Moody’s in Việt Nam.

Moody's rating decision indicated their favourable evaluation of the bank's enhanced asset quality management, high capital adequacy ratios and steady liquidity. This also signified Moody's expectation that SeABank's creditworthiness would remain constant throughout the course of the following 12 to 18 months.

The financial and banking sector in Việt Nam is dealing with a number of difficulties. Moody's affirmation of SeABank's rating with a stable outlook reflects the organisation's expectations of the bank's strong and improving capital. — VNS