On February 28, Home Credit Group announced the signing of a conditional framework agreement to transfer 2% of the capital contribution in Home Credit Vietnam Finance Company Limited (Home Credit Vietnam) to the buyer, The Siam Commercial. Bank Public Company Limited (SCB), a member of SCBX Public Company Limited (SCBX).
The transfer agreement is worth about 800 million Euros and the transfer process is expected to be completed in the first half of 2025, after approval from the competent authorities of Vietnam and Thailand.
Home Credit Vietnam - owned by international investment group PPF - began operations in 2009 and is the first company of Home Credit Group in Southeast Asia.
Home Credit Vietnam is one of the leading companies in the consumer finance sector in Vietnam, holding the second largest market share, accounting for about 14% of total market value. In addition, the company has especially focused on promoting its digital leadership strategy in recent years.
"Home Credit Vietnam has grown rapidly to occupy a leading position in the market since starting operations fifteen years ago.”, said Mr. Radek Pluhar, CEO of Home Credit Group.
"I would like to congratulate my colleagues on successfully building a business trusted by more than 15 million Vietnamese customers. This will be an exciting new beginning. We are preparing for the transition and I believe that the company will become even more successful".
SCBX is the parent company of SCB and one of the leading financial technology corporations in Thailand. SCB is a large bank with the fourth largest total assets in the country.
The actual transfer value will be determined at the time the transaction is completed.
