visimoney
TLDR:
- Thai finance group SCBX is acquiring consumer credit provider Home Credit Vietnam Finance for $850 million.
- SCBX’s parent company, Siam Commercial Bank, is entering Vietnam’s consumer credit market as part of its overseas growth strategy.
Thai financial group SCBX is set to acquire consumer credit provider Home Credit Vietnam Finance for approximately $850 million. The move, announced on Wednesday, is part of SCBX’s strategy to expand into neighboring countries, particularly in fast-growing markets like Vietnam. Subsidiary Siam Commercial Bank will purchase all shares of Home Credit Vietnam from the Netherlands-based Home Credit group. The acquisition is expected to be finalized by June 2025.
This acquisition marks SCBX’s entry into Vietnam’s consumer credit market, showcasing the parent company’s commitment to expanding its presence in the region. With Vietnam’s economy on the rise and a growing demand for consumer credit services, SCBX aims to capitalize on this opportunity for growth and strategic expansion.
Overall, the acquisition of Home Credit Vietnam Finance represents a significant move for SCBX and signals its intention to tap into the potential of Vietnam’s consumer credit market. The deal is expected to strengthen SCBX’s position in the region and drive further growth for the Thai finance group.
