SCBX Inks US$860M Deal to Fully Acquire Home Credit Vietnam – Fintech Singapore

SCBX, the financial technology business group of Siam Commercial Bank, has inked a deal to fully acquired consumer finance firm Home Credit Vietnam for US$860 million in a bid to expand its footprint in the region. The transaction is set for completion in the first half of 2025, pending regulatory approvals.

Established in 2008, Home Credit Vietnam offers a wide range of loan products with over 15 million customers and a network of 14,000 point-of-sales locations, reporting a net profit of VND 1,320 billion in 2022.

According to SCBX, Home Credit Vietnam owns approximately 14% of the market share as of 30 June 2023 and is positioned as the second-largest player in the nation’s consumer finance market.

Home Credit Vietnam is a part of the Home Credit Group, which was established in 1997 in the Czech Republic. The group operates in multiple countries across Asia and Europe and is owned by the PPF Group, an international investment company.

Arthid Nanthawithaya

Arthid Nanthawithaya, Chief Executive Officer of SCBX said,

Vietnam, with its dynamic economy averaging 7.5% GDP growth over the past decade and a tech-savvy population, is a key strategic market for SCBX.

This acquisition marks the beginning of SCBX Group’s expansion into Vietnam, a country with a population of over 100 million.”

Radek Pluhar

“Home Credit Vietnam has grown rapidly to a market leadership position since the business launched fifteen years ago.

I wish to congratulate my colleagues on building a successful and respected business that has served over 15 million Vietnamese customers as they look ahead to this exciting new chapter. We are passing the baton to new owners and I am confident the business has an even brighter future.”

said Radek Pluhar, CEO Home Credit Group.

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• Source: https://fintechnews.sg/89470/thailand/scbx-inks-us860m-deal-to-fully-acquire-home-credit-vietnam/