Krungsri (Bank of Ayudhya PCL) celebrated the completion of its full acquisition of SFinance Consumer Credit Finance Company Limited (SFinance), formerly known as SHBFinance. SFinance is now a wholly owned subsidiary of Krungsri. The celebration was held in Hanoi and attended by regulators from Vietnam, distinguished guests, business partners, and senior executives from Krungsri and SFinance.
This milestone marks the successful completion of a journey that began in 2021, when Krungsri and Saigon-Hanoi Commercial Joint Stock Bank (SHB) entered into an agreement for Krungsri to acquire and accept the transfer of 100% of the charter capital of SFinance. The acquisition was structured in two phases. In May 2023, Krungsri completed the acquisition and transfer of the first 50% of SFinance’s charter capital. Following the requisite approvals from the State Bank of Vietnam and the Japanese Financial Services Agency, Krungsri completed the acquisition and transfer of the remaining 50% of SFinance’s charter capital. As a result, SFinance is now a wholly owned subsidiary of Krungsri, with Krungsri holding 100% of its charter capital.
As part of the transition to full ownership under Krungsri, the company introduced its new name, SFinance, along with a new logo and brand identity. The rebranding marks the beginning of a new chapter in the company’s growth journey, building on nearly a decade of serving customers across Vietnam.
Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, said, “Today marks a significant milestone for Krungsri. We sincerely thank the State Bank of Vietnam and other relevant regulators for their guidance and support, as well as SHB for its partnership and trust throughout the journey. Vietnam has never been simply an investment for Krungsri. It is a long-term commitment. Since welcoming SFinance into Krungsri in 2023, we have worked side by side with SFinance team to strengthen governance, invest in technology and introduce new products and services to the market. As the parent company, we remain committed to supporting SFinance’s continued transformation by leveraging Krungsri’s expertise in consumer finance and digital innovation. This includes enhancing digital capabilities across the entire customer journey, from application and credit assessment to loan management, repayment and collections. Together, we will drive sustainable, long-term growth and deliver greater value for our customers, our employees and communities in Vietnam.”
“Vietnam is one of the most dynamic and promising economies in ASEAN, driven by strong economic fundamentals, robust consumer confidence, and growing middle class. For Krungsri, this represents more than a business opportunity, but a chance to contribute to the country’s development while supporting millions of Vietnamese customers in achieving their goals and aspirations,” Mr. Kenichi added.
The full ownership transfer supports Krungsri’s aspiration to be a Leading Sustainable and Regional Bank. Krungsri now has businesses in five ASEAN countries (outside Thailand) – Lao PDR, Cambodia, Vietnam, the Philippines and Indonesia. Together with the MUFG network, Krungsri has a comprehensive network across nine of the eleven ASEAN countries, enabling the Bank to better serve customers across the region.
Building on its expertise and proven track record in consumer finance in Thailand, Krungsri has developed a distinctive approach to regional expansion, focusing on high-potential ASEAN markets characterized by growing middle class populations and strong domestic demand. Krungsri remains committed to expanding its ASEAN portfolio and capturing long-term growth opportunities across the region. In the first nine months of 2026, Krungsri’s ASEAN loans grew by 7.7% year-to-date, reflecting the strength and momentum of its regional business.
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