SEABank Moves to Hanoi

SEABank Moves to Hanoi

SEABank has moved its Head Office from Haiphong to 16 Lang Ha, Hanoi on March 25, 2005. The former head office in 15 Minh Khai, Haiphong, will become a branch. The new head office operates with such functions as mobilisation of capital, short, medium and long-term loans in VN Dong and US dollars, remittance, international payment, foreign exchanges, collateral, and consulting.

Present at the opening ceremony were SBV Governor Le Duc Thuy, Hanoi People's Committee Vice Chairman Vu Van Ninh and representatives of ministries and agencies.

Speaking at the ceremony, Mr Le Van Chi, Director General of SEABank, said that since 2001, SEABank has always fulfilled the plans set by the conference of shareholders and performed well. The total assets of SEABank are worth over VND2,300 billion, 30 times that of 2001. Overdue debts make up only 0.42 per cent and there have been no new instances since 2001. SEABank is one of the best commercial banks in Vietnam with an exemplary credit record.

SEABank was established in 1989 and was one of the first commercial banks in Vietnam. Currently, it has a network in three big cities Hanoi, Ho Chi Minh, Haiphong and 19 other branches. It has also signed agency contracts with 20 foreign banks.

• K.P