Thailand’s Krungsri Completes Acquisition of SFinance

Thailand’s Krungsri completed its acquisition of the remaining 50% stake in SFinance on October 15, 2026, raising its ownership to 100%. The bank held a ceremony in Hanoi on November 10 to mark the completion of the share transfer, making SFinance a wholly owned finance company.

The transaction began in 2021, when Krungsri and Saigon-Hanoi Bank (SHB) agreed to transfer ownership of SHBFinance in two stages. Krungsri acquired the first 50% stake in 2023. In July 2026, SHBFinance received approval to convert from a multiple-member limited liability company into a single-member limited liability company. It was subsequently renamed SFinance.

Representatives of the organizations involved attend the ceremony marking the completion of SFinance’s share transfer.（VietVance）

Krungsri CEO Kenichi Yamato said at the ceremony that Vietnam has a solid economic foundation, strong domestic consumer demand and a growing middle class, making it one of ASEAN’s most dynamic and promising economies. He said the bank would continue investing in Vietnam for the long term and, together with MUFG, support SFinance in product development, risk management and technology.

Mai Khánh Dũng, deputy head of the department responsible for managing and supervising credit institutions at the State Bank of Vietnam, said the share transfer reflected the appeal of Vietnam’s financial market. SFinance CEO Olena Khlon said the company would focus on digital transformation, improving customer experience, and strengthening governance, risk management and compliance.

SFinance says it currently has more than 5,000 employees, a business network spanning 34 provinces and cities in Vietnam, and more than one million customers. By the end of October 2026, it had processed more than 8.8 million loan applications, nearly 6 million of them since 2023. According to figures released by the company, loan application approval time has fallen from several hours to about five minutes.

Source: VietVance