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Home Credit Vietnam acquired by Thai bank SCBX for $864 M

The consumer finance division of Home Credit N.V. (Home Credit Group), Home Credit Vietnam Finance Company Limited (Home Credit Vietnam), is being acquired by Thai bank SCB X Public Company Limited (SCBX) for roughly VND 20,973 billion ($864 million).

A sale and purchase agreement has been signed by the Siam Commercial Bank Public Company Limited (SCB) to purchase all of Home Credit Vietnam’s charter capital, according to a statement released by SCBX on Thursday.

The transaction is anticipated to be finished by the first half of 2025 due to approvals from the appropriate competent authorities.

Offering consumer durable loans, revolving loans, cash loans, and two-wheeler loans to the mass and upper mass market segment of Vietnamese consumers, Home Credit Vietnam has emerged as a major player in the country’s consumer finance industry since its founding in 2008.

With 14,000 point-of-sale locations, Home Credit Vietnam has a strong presence throughout Vietnam and has served a cumulative total of 15 million customers since its launch.

Home Credit Vietnam’s net profits for 2022 were VND 1,320 billion ($53 million) based on the most recent audited financial statements. Over the previous ten years, the company’s total assets grew at a compound annual growth rate (CAGR) of 18.7%, demonstrating the potential and effectiveness of its business operations.

Strong omni-channel distribution networks enable Home Credit Vietnam to seamlessly provide a seamless customer experience by combining offline and online communication and distribution channels.

The organization also boasts cutting-edge digital infrastructure, effective collection capabilities, and a cautious risk management culture.

House Credit As of June 30, 2023, Vietnam accounted for roughly 14% of the entire consumer finance market, making it the country with the second-largest market share.

Due to the country’s solid macroeconomic foundations, growth-promoting economic policies, advantageous demographics, and expanding middle class, Vietnam’s consumer finance market has the highest growth potential of any country in Southeast Asia.

“The acquisition of Home Credit Vietnam marks a significant milestone in SCBX’s journey to become a leading regional financial technology group.

“This strategic acquisition strengthens our presence in the high-growth ASEAN market and also increases value and maximizes return to our shareholders in the long term,” Arthid Nanthawithaya, Chief Executive Officer of SCB X Public Company Limited.




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