Thailand’s Bank of Ayudhya said it has agreed to buy Hanoi-based SHB Finance from Saigon-Hanoi Commercial Joint Stock Bank for 3.59 trillion Vietnamese dong ($157 million), as the fifth-biggest lender by assets in Thailand continues to seek growth in the ASEAN market.
“The investment will help grow the bank’s business outside Thailand, increase competitive advantage and expand customer base in Southeast Asia,” Bank of Ayudhya said in a statement to the Stock Exchange of Thailand.
The acquisition is expected to give the Thai lender access to SHB Finance’s 200,000 borrowers. The bank highlighted that the Vietnamese consumer finance company had achieved a compounded annual growth of 93% for loans from 2018 to the…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
