SeABank Expands to China

Southeast Asia Commercial Joint Stock Bank (SeABank) has signed a agreement on international payment with the Bank of China (BOC), one of the four largest banks in China and one of 20 largest banks in the world. BOC will transfer money for SeABank to the Chinese market, L/C and USD payment. Through cooperation with BOC, SeABank will be able to settle international payment quickly, accurately and effectively to bring best services to customers.

 

SeABank plans to increase its chartered capital to VND5,000 billion, total assets to VND40,000 billion, outstanding loans to VND27,000 billion and deposits to VND29,500 billion in 2008. It will keep the ratio of bad loans below 0.5 per cent. In 2008, the lender targets at VND804 billion profit. Especially, SeABank will issue ATM cards in the Vietnamese market in the first quarter of this year and international cards later.

Q.C