SeABank sells entire stake in PTF to AEON Financial

PTF was established in October 1998 and became one of the pioneering non-banking credit organisations in Vietnam. In 2018, it came under the full ownership of SeABank when the bank acquired it in whole from the Vietnam Posts and Telecommunications Group.

Under SeABank's management and after a comprehensive restructuring, PTF focused on developing and offering a range of streamlined lending products. It diversified its product portfolio by offering attractive interest rates to meet the varied needs of its customer base.

In addition, PTF concentrated on expanding its network and forming new business partnerships. It prioritised the integration of IT in product and service development, aiming to enhance service quality and customer experience.

To ensure robust and ethical operations, PTF worked on improving its workforce quality and refining its management systems. At present, PTF boasts a charter capital of VND1.55 trillion ($65 million), with nearly 2,000 employees serving nearly 200,000 customers across 30 provinces and cities nationwide.

The transfer of all PTF's capital contribution to AEON Financial Service will provide SeABank with additional resources to strengthen its financial capacity, invest in technology, and drive business operations in key segments.

Following the signing of the agreement, both parties will seek approval from the relevant authorities and the State Bank of Vietnam to complete the transfer transaction.

Established in 1981, AEON Financial Service is a member of AEON Group, Japan's largest retail conglomerate with a strong presence in China and Southeast Asia. Its founding mission was to enhance consumer convenience when shopping, and has since provided more services beyond purchasing tools. The company began expanding in 1987, starting with Hong Kong.

This strategic acquisition aligns with the regional ambitions of AEON Financial Service Co., Ltd., and positions SeABank towards strengthening its position in the dynamic Vietnamese banking landscape.

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