Thailand’s Krungsri Completes Acquisition of SFinance
Thailand’s Krungsri acquired the remaining 50% of SFinance from Saigon–Hanoi Bank on October 15, 2026, raising its ownership to 100%. The phased transfer began in 2023. Krungsri says it will continue to support SFinance’s development in Vietnam.
Thailand’s Bank of Ayudhya (Krungsri) acquired the remaining 50% stake in SFinance from Saigon–Hanoi Bank (SHB) on October 15, 2026, raising its ownership to 100%. The parties held a ceremony in Hanoi on November 10 to mark the completion of the share transfer. Nikkei Asia had previously estimated the deal’s value at nearly $156 million.
The parties signed an agreement in 2021 to transfer the shares in stages. Krungsri acquired its first 50% stake in the former SHBFinance in 2023. In July 2026, the company received approval to convert from a limited liability company with two or more members to a single-member limited liability company, and was subsequently renamed SFinance. Krungsri President and CEO Kenichi Yamato said at the ceremony that the bank would continue to invest in Vietnam for the long term through SFinance.
Krungsri President and CEO Kenichi Yamato speaks at the ceremony marking the completion of the share transfer.（VietVance）
Krungsri said that since the initial share transfer in 2023, it has worked with SFinance to strengthen corporate governance and risk management, invest in technology, advance digital transformation and develop new products. Krungsri and MUFG plan to continue sharing their expertise and resources with SFinance. Mai Khánh Dũng, deputy director of the Department for Management and Supervision of Credit Institutions under the State Bank of Vietnam, said the transaction demonstrated the Vietnamese financial market’s appeal to investors.
SFinance CEO Olena Khlon said the company would focus on digital transformation, improving customer experience, and strengthening governance, risk management and compliance. By the end of October 2026, SFinance had processed more than 8.8 million loan applications, nearly 6 million of them since 2023. The company said it had cut application approval time from several hours to about five minutes. Its business network spans 34 provinces and cities in Vietnam and serves more than one million customers.
SFinance CEO Olena Khlon speaks at the ceremony.（VietVance）
Source: VietVance
