M'bishi UFJ to buy Vietnam consumer finance company for 16 bil. yen

Economy

Mitsubishi UFJ Financial Group Inc. said Thursday that its Thai banking subsidiary will purchase SHBank Finance Co. of Vietnam, as the Japanese financial group looks to strengthen overseas operations in the face of the severe domestic business environment. Bank of Ayudhya Public Co. will acquire the entire stake in the Vietnamese consumer financing company from Saigon-Hanoi Commercial Joint Stock Bank for about 16 billion yen ($145 million), a source familiar with the matter said. The fifth largest bank by assets in Thailand will complete the purchase over three years after taking half the sha...

Kyodo News

Kyodo News