2023-05-23 12:07:01
stock dimension-Krungsri Bank of Ayudhya Public Company Limited (Bank of Ayudhya Public Company Limited) announced a significant milestone in its acquisition of Vietnam by acquiring equity in SHBank Finance Company Limited (“SHB Finance”), one of the country’s leading consumer finance companies. Vietnam for the first 50% and the remaining 50% will be transferred within the next 3 years when both parties comply with the conditions and requirements from the relevant regulatory authorities.
The success of this acquisition comes following the bank has reached an agreement on August 25, 2021, marking another important step in strengthening Krungsri as a “Regional Bank” strengthens the network in ASEAN in line with the goal of becoming “Thai financial institutions that are number one in the hearts of customers ready to connect the needs of customers across the ASEAN region.”
Mr. Kenichi Yamato, President and Chief Executive Officer Bank of Ayudhya Public Company Limited said “We are very pleased with this milestone and would like to welcome SHB Finance, a new member to the Krungsri Group. We would also like to thank the relevant authorities for their support and approval of this successful transaction. This success made Krungsri stand out in ASEAN even more strongly. Makes us have a business covering 5 countries in ASEAN. and continue to drive towards the mission of connecting the needs of customers across ASEAN.”
“We expect Vietnam’s economy to continue to grow at around 6-7% a year, with diversified business opportunities arising from rising consumption. Krungsri is recognized as a leader in the retail lending business. Krungsri’s experience and expertise in the retail lending business will be a major driving force for SHB Finance to deliver better services to its customers.
Along with financial solutions that are accessible and meet the needs of retail customers in Vietnam. Krungsri is confident that the collaboration between Krungsri and SHB Finance will strengthen the brand. performance and a strong position making SHB Finance an important top player. in the microfinance market in Vietnam.”
Permanent Deputy Director of SHB Finance, Ms. Olena Khlon “The consumer credit market in Vietnam is still a potential market. with good management from the government And Vietnam is also a destination for investment from foreign investors. Therefore, becoming an alliance with Krungsri As a regional financial institution, SHB Finance will be able to achieve its goal of becoming one of the world’s leading financial companies. Leading in Thailand faster and is also a friend who is ready to be by your side to help make the lives of all customer groups better as well.
Krungsri, a leading financial institution, ranked fifth in size in terms of assets, loans and deposits, currently has business both domestically and internationally. International business in Lao PDR, Philippines, Cambodia and Vietnam is the latest country. Including having a representative office in Myanmar as well
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