Thailand's Bank of Ayudhya to acquire SHB Finance in Vietnam for $156m

Krungsri (Bank of Ayundhya) president and CEO Seiichiro Akita. Source: Krungsri website

Thailand’s Bank of Ayudhya Pcl (BAY) said on Wednesday that it will acquire SHB Finance in Vietnam from Saigon-Hanoi Commercial Joint Stock Bank for 5.1 billion baht ($155.77 million).

“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,” Bank of Ayudhya President Seiichiro Akita said in a statement.

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