Bank of Ayudhya Completes the Transaction of Home Credit in Philippines

Bank of Ayudhya Public Company Limited (SET: BAY) announced that it has completed the purchase of Home Credit in the Philippines.

The announcement came after the approval from the Bank of Thailand and Philippines Competition Commission (PCC) to the transaction to acquire consumer finance business of Home Credit in Philippines for 75.0% of the share capital of HC Consumer Finance Philippines, Inc. and 100% of share capital of HCPH Financing 1, Inc. and HCPH Insurance Brokerage, Inc. from HC Philippines Holdings B.V. and Filcommerce Holdings, Inc.