SCBX, the monetary know-how enterprise group of Siam Business Financial institution, has inked a deal to totally acquired shopper finance agency Residence Credit score Vietnam for US$860 million in a bid to develop its footprint within the area. The transaction is about for completion within the first half of 2025, pending regulatory approvals.
Established in 2008, Residence Credit score Vietnam provides a variety of mortgage merchandise with over 15 million clients and a community of 14,000 point-of-sales areas, reporting a internet revenue of VND 1,320 billion in 2022.
In response to SCBX, Residence Credit score Vietnam owns roughly 14% of the market share as of 30 June 2023 and is positioned because the second-largest participant within the nation’s shopper finance market.
Residence Credit score Vietnam is part of the Residence Credit score Group, which was established in 1997 within the Czech Republic. The group operates in a number of international locations throughout Asia and Europe and is owned by the PPF Group, a world funding firm.
Arthid Nanthawithaya
Arthid Nanthawithaya, Chief Government Officer of SCBX stated,
Vietnam, with its dynamic economic system averaging 7.5% GDP development over the previous decade and a tech-savvy inhabitants, is a key strategic marketplace for SCBX.
This acquisition marks the start of SCBX Group’s enlargement into Vietnam, a rustic with a inhabitants of over 100 million.”
Radek Pluhar
“Residence Credit score Vietnam has grown quickly to a market management place for the reason that enterprise launched fifteen years in the past.
I want to congratulate my colleagues on constructing a profitable and revered enterprise that has served over 15 million Vietnamese clients as they stay up for this thrilling new chapter. We’re passing the baton to new house owners and I’m assured the enterprise has a fair brighter future.”
stated Radek Pluhar, CEO Residence Credit score Group.
