Thai lender SCB scraps plan to acquire Home Credit Vietnam for $796 mln

The Siam Commercial Bank Public Company Limited (SCB) has terminated its planned acquisition of Home Credit Vietnam, a digital consumer finance company, as the conditions of the deal were not met on time.

According to its filing to the Stock Exchange of Thailand on Thursday, SCB said that its board approved the termination of its share purchase agreement (SPA) with Home Credit N.V. on March 20, ending its planned investment in Home Credit Vietnam Finance Company Limited.

In 2024, SCB had approved the acquisition of a 100% stake in Home Credit Vietnam through its subsidiary Thai Commercial Bank.

The investment was valued at approximately VND20.97 trillion ($796.21 million), although the final price could have been adjusted in line with the terms set out in the agreement, the Thai lender said.

However, due to external factors, the conditions precedent under the SPA cannot be fulfilled within the agreed timeline, so the transaction cannot be concluded, it noted. The bank said the cancellation would not affect its financial position.

SCB and the bank said they remain committed to their strategic plan to become a leading regional financial technology group, while strengthening the group’s business presence in high-growth Asean markets and delivering long-term value and returns for shareholders.

In 2025, Home Credit Vietnam posted VND2.08 trillion ($78.85 million) in net revenue, up 60.9% year-on-year. As of end-2025, its total assets reached VND37.39 trillion ($1.42 billion), up 36.8% from the start of the year.