AEON Financial suddenly wants to cancel the deal to sell capital of PTF Finance Company of SeABank

(NLDO) - AEON Financial discovered that the accounting information published before transferring shares at PTF Finance Company to SeABank was incorrect...

On June 6, AEON Financial Service Co., Ltd. (AEON Financial, part of AEON Group) announced the discovery of inappropriate accounting transactions related to the acquisition of Post and Telecommunications Finance Company (PTF) from Southeast Asia Bank ( SeABank ).

Accordingly, during the post-merger implementation process, AEON Financial discovered inappropriate accounting transactions made before the completion of the share transfer. Therefore, the company conducted an on-site investigation with the advice of a lawyer.

"For this reason, the company has sent a notice to SeABank to declare the share transfer contract invalid," AEON Financial's statement stated.

AEON Financial's announcement also stated that it will continue to investigate, coordinate with relevant authorities and carry out necessary legal procedures as prescribed to declare the contract invalid...

On SeABank's side, in response to a reporter from Nguoi Lao Dong Newspaper on the same evening, the bank said it had received an email notification from AEON Financial regarding the contract to transfer PTF to this company.

The transfer deal worth 4,300 billion VND was signed in October 2023.

"This is the first time SeABank has received information from AEON Financial. SeABank is contacting the partner to clarify the information" - said a SeABank representative.

At the end of 2024, the State Bank issued a document approving the transfer of 100% of SeABank's capital contribution at AEON Financial. The transfer deal worth VND4,300 billion was signed in October 2023; completed in February 2025, officially making PTF a consolidated subsidiary.

PTF was established in 1998 and is one of the first financial companies in Vietnam with a charter capital of VND 1,550 billion.

Source: https://nld.com.vn/aeon-financial-bat-ngo-muon-huy-thuong-vu-ban-von-cong-ty-tai-chinh-ptf-cua-seabank-19625060618443417.htm