Siam Commercial Bank buys Home Credit Vietnam Finance for $849m.

The transaction is expected to be completed in the first half of 2025.

Siam Commercial Bank (SCB) is acquiring 100% of the charter capital of Home Credit Vietnam Finance for THB31b (approximately $849m).

The transaction is expected to be completed in the first half of 2025.

Home Credit Vietnam is said to be one of the leading players in the consumer finance sector in Vietnam, holding the second-largest market share in the country’s consumer finance market. As of 30 June 2023, it reportedly accounts for 14% of the total market, SCB said in a press release. 

It offers consumer durable loans, revolving loans, cash loans, and two-wheeler loans to the mass and upper mass market segment in Vietnam.

It has a cumulative total of 15 million customers served since launching in 2008.

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

Linklaters advised the transaction, particularly the bidding process to finalisation and signing of various legal documentation, as well as Thai regulatory considerations and liaising with a Vietnamese counsel on Vietnamese legal issues.