The burgeoning consumer debt market in Vietnam is sparking increased competition among finance companies, with Thai firms entering the fray as fresh contenders in this rapidly expanding sector The new faces Three of Vietnam’s pioneering consumer finance companies have recently undergone partial acquisitions by foreign firms, with two falling into the hands of Japanese investors and one acquired by a Thai company. Siam Commercial Bank Public Company Limited (SCB), a prominent public bank renowned for its diverse financial services, made headlines by acquiring Home Credit for a reported 800 million euros. This strategic move merges two major players, SCB and Home Credit, which collectively serve approximately 15 million customers. FE Credit, Vietnam’s leading consumer finance company, was also in talks with Thai investors before finalizing a deal. This indicates a growing trend of Thai investors venturing into Vietnam’s consumer finance market across various segments. In mid-2023, Saigon – Hanoi Commercial Joint Stock Bank (SHB) sold its consumer finance arm, SHB Finance, to Thailand’s Krungsri Group, a subsidiary of Japan’s MUFG Group. While Krungsri is part of MUFG, the transaction signifies a direct investment from Thailand’s financial sector. Thailand’s influence extends beyond consumer finance, as evidenced by Kasikorn Bank (KBank) strengthening […]
The burgeoning consumer debt market in Vietnam is sparking increased competition among finance companies, with Thai firms entering the fray as fresh contenders in this rapidly expanding sector The new faces Three of Vietnam’s pioneering consumer finance companies have recently undergone partial acquisitions by foreign firms, with two falling into the hands of Japanese investors and one acquired by a Thai company. Siam Commercial Bank Public Company Limited (SCB), a prominent public bank renowned for its diverse financial services, made headlines by acquiring Home Credit for a reported 800 million euros. This strategic move merges two major players, SCB and Home Credit, which collectively serve approximately 15 million customers. FE Credit, Vietnam’s leading consumer finance company, was also in talks with Thai investors before finalizing a deal. This indicates a growing trend of Thai investors venturing into Vietnam’s consumer finance market across various segments. In mid-2023, Saigon – Hanoi Commercial Joint Stock Bank (SHB) sold its consumer finance arm, SHB Finance, to Thailand’s Krungsri Group, a subsidiary of Japan’s MUFG Group. While Krungsri is part of MUFG, the transaction signifies a direct investment from Thailand’s financial sector. Thailand’s influence extends beyond consumer finance, as evidenced by Kasikorn Bank (KBank) strengthening […]
The burgeoning consumer debt market in Vietnam is sparking increased competition among finance companies, with Thai firms entering the fray as fresh contenders in this rapidly expanding sector The new faces Three of Vietnam’s pioneering consumer finance companies have recently undergone partial acquisitions by foreign firms, with two falling into the hands of Japanese investors and one acquired by a Thai company. Siam Commercial Bank Public Company Limited (SCB), a prominent public bank renowned for its diverse financial services, made headlines by acquiring Home Credit for a reported 800 million euros. This strategic move merges two major players, SCB and Home Credit, which collectively serve approximately 15 million customers. FE Credit, Vietnam’s leading consumer finance company, was also in talks with Thai investors before finalizing a deal. This indicates a growing trend of Thai investors venturing into Vietnam’s consumer finance market across various segments. In mid-2023, Saigon – Hanoi Commercial Joint Stock Bank (SHB) sold its consumer finance arm, SHB Finance, to Thailand’s Krungsri Group, a subsidiary of Japan’s MUFG Group. While Krungsri is part of MUFG, the transaction signifies a direct investment from Thailand’s financial sector. Thailand’s influence extends beyond consumer finance, as evidenced by Kasikorn Bank (KBank) strengthening […]
HCMC – Real estate businesses in Vietnam are calling for further interest rate cuts, citing uneven rate cuts among banks and complex borrowing procedures...
HCMC - Prime Minister Pham Minh Chinh today, March 14, highlighted positive improvements across a range of industries as he addressed a conference on...
After many years of delay, there are positive signals regarding the handling of weak banks. There will be significant breakthroughs in 2024, following the...
HCMC - The Government is considering authorizing the Governor of the State Bank of Vietnam (SBV) to approve zero-interest special loans.
This proposal is part...
HCMC - The Government has urged commercial banks to make things easier for residents and businesses to take out loans.
These measures include cutting costs,...