Thai bank terminates M&A deal with Home Credit

March 31, 2026 | 11:23

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The Siam Commercial Bank Public Co., Ltd. (SCB) has terminated the transaction relating to investment in Home Credit Vietnam Finance, according to a filling to the Stock Exchange of Thailand on March 26.

Thai bank terminates M&A deal with Home Credit

In 2024, SCB, part of SCBX Public Co., Ltd., entered into a Sale and Purchase Agreement to acquire charter capital representing 100 per cent ownership in Home Credit Vietnam, for approximately VND 20.97 trillion ($806.5 million).

Due to external factors, the conditions under the agreement cannot be fulfilled within the agreed timeline. As a result, the Board of Directors’ Meeting No. 8/2026 of SCB on March 20, has passed a resolution approving SCB to terminate the transaction.

The termination of the transaction does not have any impact on SCB's financial position. SCBX and SCB remain committed to their strategic plans to become a leading regional financial technology group and strengthen the company’s presence in the high-growth ASEAN market, and also increase value and maximise return to its shareholders in the long term.

Home Credit Vietnam – owned by PPF Group – was launched in 2009. The company holds the second-largest market share in the Vietnamese consumer finance sector (after FE Credit), with 17 million customers and 6,000 employees.

Home Credit's core services include instalment loans for consumer goods (motorcycles, household appliances, electronics, furniture), cash loans, and credit cards. In 2025, the company recorded after-tax profits exceeding $76.9 million, an increase of over 60 per cent compared to the previous year.

SCB, Thailand's oldest lender, has one of the largest total assets in Thailand. SCBX is SCB’s parent company and one of Thailand’s top fintech groups.

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