Krungsri enters Vietnam through the acquisition of SHB Finance, reaffirming its commitment to ASEAN Expansion strategy

Krungsri President & CEO Mr. Seiichiro Akita said, "We are very pleased to announce that we have signed agreements with SHB to acquire a 100% stake in SHB Finance, SHB's consumer finance subsidiary, upon closing of the transaction after all regulatory approvals are obtained. SHB's local expertise and an extensive network in Vietnam complemented by Krungsri's strength in consumer finance will enhance SHB Finance's business competitiveness. Together, we will develop and deliver quality consumer finance products to customers in Vietnam. This milestone also underscores our commitment to ASEAN expansion strategy following our current medium-term business plan covering 2021-2023."

Currently, Krungsri has secured its foothold in the ASEAN Market including a branch and a consumer finance business in Lao PDR, a commercial bank in Cambodia, a consumer finance business in the Philippines, and a representative office in Myanmar. The acquisition of SHB Finance in Vietnam further strengthens Krungsri's leading position in connecting customers' needs across ASEAN.

Chairman of the Board of Directors of SHB Mr. Do Quang Hien said, "The consumer finance market in Vietnam has great potential and room for growth. SHB Finance is a "beautiful girl" with healthy financial health. After a period of selection and negotiation, we have found a suitable partner to contribute to bringing synergistic value in many aspects such as management experience, technology, improve financial capacity, network expansion, and new product development, international cooperation, enhancement of SHB's reputation and brandname in the region and in the world."

Both Krungsri and SHB will work together to promote the growth of Vietnam's consumer finance market, bringing greater value to customers, shareholders, and partners.

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