Thailand’s Kasikornbank in Talks to Buy ‘Home Credit Vietnam’ for $1 Billion

Thailand’s Kasikornbank (KBANK) is in talks to buy consumer finance provider Home Credit Vietnam, according to Reuters which cited sources close to the matter in a $1,000 million deal that would give the Thai lender another push for its expansion in Vietnam. 

Reuters stated that KBANK aims to become one of Vietnam’s top 20 banks in terms of assets by 2027.

According to the sources, KBANK is also in talks with financial advisors to explore the potential acquisition, but there is no final decision as of now. 

Home Credit Vietnam is a part of Netherlands-headquartered non-bank financial institution Home Credit Group, which began its operations in the Southeast Asian country in 2008.