HANOI, Vietnam, Oct. 22, 2024 /PRNewswire/ — In the first 9 months of 2024, Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB) recorded PBT of US$180 million, together with positive business indicators thanks to solid and effective risk management.

CASA maintains impressive growth momentum

In the first 9 months, SeABank’s total foreign and domestic mobilization reached US$7 billion. CASA escalated to US$817 million, up 24% from the figure of December 31, 2023 and accounted for 13.46% of total deposits.

SeABank also maintained growth momentum, notably reaching PBT of US$180 million – a net increase of US$55 million and up 43% YoY. Of which, TOI reached US$363 million, up 39.56% YoY; NOII reached US$65 million; NII reached US$298 million. NIM increased slightly to 3.94%, although the average lending interest rate decreased, and signs of increasing have just been shown since the end of July. SeABank also recorded positive performance indicators, particularly ROE at 14.96% and ROA at 1.73%.

Ending the first 9 months, SeABank’s total outstanding customer balance reached US$7.8 billion; Total assets recorded a net increase of US$885 million YoY, achieving US$11.4 billion. SeABank is completing procedures for its charter capital increase to US$1.1 billion, after successfully issuing 329 million shares to pay 2023’s dividends and 10.3 million shares to increase equity capital from owner’s equity.

Customer expansion & cost optimization through solid base of risk management

In the first 9 months of 2024, SeABank attracted nearly 430,000 new customers, up 92% from figure of the first 8 months, bringing the total number of customers to nearly 3.6 million. This has resulted from technological investment, increased user experience, and innovative products, thereby creating a distinctive market position for SeABank.

Along with that, SeABank’s CIR decreased significantly to 32.54% thanks to the improved operational efficiency and optimized operating costs that resulted from digital transformation.

Solid and comprehensive risk management system is maintained, with CAR stayed at 12.85%, higher than Basel III minimum requirement (10.5%). In addition, SeABank ensures safe operations with NPL controlled at 1.87%.

Thanks to solid risk management, efficient and stable operations, Moody’s 2024 periodic assessment has maintained SeABank’s Ba3 ratings for important categories with a Stable outlook, implying strong belief in SeABank’s above peer-average capitalization and stable asset quality. SeABank was also honored as “The Risk Management Bank of The Year – Vietnam 2024″ by The European Magazine (UK).

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STOCKHOLM, Oct. 22, 2024 /PRNewswire/ — Today, EQT hosts its first Capital Markets Event in New York. In the five years since EQT’s listing on Nasdaq Stockholm, EQT has quadrupled revenues and had a fivefold increase in market cap to USD ~40 billion.

The event will feature presentations by EQT’s CEO Christian Sinding, members of the Executive Committee, the Heads of Private Equity and Infrastructure North America, the Global Head of Real Estate and Client Relations & Capital Raising. Presentations will cover EQT’s long-term growth priorities, thematic investment focus, repeatable approach to value creation, EQT’s view on the future of private markets, and EQT’s US ambitions.

Presentations and Q&A will begin at 10:00 AM ET. The event will conclude with a fireside chat between EQT Founder and Chair Conni Jonsson and Bloomberg TV Anchor Dani Burger followed by lunch. 

The event will be held in person only. A presentation is available on the EQT Group website’s Shareholder Relations tab and a recording will be available after the event. 

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
Mathilde Milch, Communications Director, +1 917 510 66 26

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SHANGHAI, Oct. 22, 2024 /PRNewswire/ — The 29th China International Furniture Expo (Furniture China 2024) successfully concluded on September 13th after four days of fruitful exchanges at SNIEC. Once again, the exhibition reaffirmed its position as a leading global platform for the furniture industry, providing extensive opportunities for international and domestic furniture companies, buyers, designers, and related industries to network and collaborate.

This year’s expo attracted 3,000+ exhibitors, representing various sectors, from furniture manufacturing to home design and material supply. Exhibitors came from 25 countries and regions, highlighting the international scope of Furniture China. According to the Post Show Report, the expo welcomed total of 167,250 visitors, including 28,644 overseas buyers, reflecting a 11.9% year-on-year growth, further enhancing the expo’s global trade influence.

In addition, Maison Shanghai 2024 ran concurrently at SWEECC, showcasing an extensive range of interior designs, home décor, and lifestyle solutions. It has become a key part that draws attention from designers, retailers, and home furnishing enthusiasts from across the globe. Together, the expo created a comprehensive platform for the exchange of ideas and trends in both the furniture and home furnishing industries.

Besides, key events such as the Global Buyers’ Night, Middle East Buyers’ Night and the Anji Industrial Cluster Promotion Event drew significant attention from buyers and industry leaders, fostering discussions on new opportunities for the industry’s future. The digital platform DTS with its new APP also performed impressively, more than 23,000 active users engaging online, generating over 386,000 interactions, since its launch in this July.

The expo not only provided a platform for companies to showcase their latest product innovations but also offered a range of forums and workshops aimed at driving industry development. Over 40 onsite events gathered 200+ speakers, guests, industry experts, designers and KOLs, to share insights covering diverse aspects of furniture topics. Exhibitors also expressed high satisfaction with the quality of the buyers. Many new business connections and continued partnership have been achieved via expo approaches, with follow-up orders expected to exceed existing growth.

Furniture China 2024 successfully showcased the latest trends and developments in the global home furnishing industry, injecting new energy through its innovative online and offline hybrid model. We look forward to the next edition during 10-13 September 2025 in Shanghai (Pudong), which will continue to create more furniture trade opportunities and successes for the global markets.

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