ADVANC Returns All Stake in Digital Lending Platform to SCBX

Advanced Info Service Plc. (SET: ADVANC) announced on November 25, 2022, with reference with reference to the announcement to the Stock Exchange of Thailand dated 25 October 2021 on the incorporation of the Joint Venture (JV) with the Siam Commercial Bank Public Company Limited (“SCB”) that established AISCB Co., Ltd. (AISCB) to provide digital lending via an online platform.

ADVANC announced that it will dispose of all investment in AISCB to the SCB X Public Company Limited (SCBX), the parent company of SCB.

However, ADVANC noted that it is open to future opportunities to work with SCB in other business settings. AIS’ business direction continues toward the aspiration of providing digital life services and aims to leverage the core business to offer a new digital experience in accessing relevant services to its customers.