Vietnam’s SeABank said on October 27 that it had cut its 2026 pre-tax profit target by 15% to 6 trillion dong (US$233 million), citing government and central bank directives to support the economy.

The bank said it had cut annual deposit rates by 0.5–0.7 percentage points for terms of at least six months to make room for cheaper loans, especially for small and medium-sized enterprises, priority sectors, and green projects.

Vietnamese lenders have broadly cut lending rates, with cuts of up to 3% reported.

Board member Tran Thi Thanh Thuy became chairperson on October 22 for the 2023–2028 term. The board accepted former chairperson Le Van Tan’s resignation and was preparing documents to seek State Bank of Vietnam approval for his appointment as CEO. He is set to succeed current CEO Le Quoc Long, whose three-year term ends in November 2026.

🔗 Source: SeABank Vietnam