Southeast Asia Commercial Joint Stock stock faces lower 2026 target

Southeast Asia Commercial Joint Stock Bank, known as SeABank, has cut its 2026 profit-before-tax target by 15 percent to VND 6,008 billion. The decision was announced on October 27, 2026, in a company release carried by USA Today.

Lower target supports rate cuts

SeABank said the revised plan is intended to support lower interest rates and economic activity in line with guidance from the Vietnamese government and the State Bank of Vietnam. The bank has reduced annual deposit rates by 0.5 to 0.7 percentage points for terms of six months or longer.

The lower funding costs are intended to create room for cheaper lending, particularly for small and medium-sized enterprises, priority sectors and green projects. SeABank also said it would focus on customers with sound financial positions and viable business plans, emphasizing credit quality and risk management.

Board transition takes effect

Tran Thi Thanh Thuy, previously a SeABank board member, became chairwoman for the 2023-2028 term effective October 22, 2026. The board accepted Le Van Tan's resignation as chair, while documentation is being prepared for State Bank approval of his appointment as chief executive.

Tan is expected to succeed Le Quoc Long, whose three-year term ends in November 2026. Thanh Thuy joined SeABank in 2015 as deputy chief executive and was elected to the board in April 2024, according to the company release.

What investors should watch next

The revised target sets a lower earnings bar for the final months of the year while the bank seeks to support borrowers through lower rates. Investors will likely focus on whether credit growth, asset quality and the leadership transition develop consistently with the revised plan.

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