{"id":2008781,"date":"2023-08-22T23:10:02","date_gmt":"2023-08-23T03:10:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-thailands-kbank-in-talks-to-buy-vietnam-lender-in-up-to-1-billion-deal-sources\/"},"modified":"2023-08-22T23:11:17","modified_gmt":"2023-08-23T03:11:17","slug":"exclusive-thailands-kbank-in-talks-to-buy-vietnam-lender-in-up-to-1-billion-deal-sources","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-thailands-kbank-in-talks-to-buy-vietnam-lender-in-up-to-1-billion-deal-sources\/","title":{"rendered":"Thailand&#8217;s KBank in talks for $1bn deal to acquire Vietnam lender &#8211; sources."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-thailands-kbank-in-talks-to-buy-vietnam-lender-in-up-to-1-billion-deal-sources%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2008781&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Thailand&#8217;s Kasikornbank \u2064in Talks to Acquire Home Credit Vietnam in $1 Billion Deal<\/h2>\n<blockquote>\n<p>By Phuong Nguyen and Yantoultra Ngui<\/p>\n<\/blockquote>\n<p>Thailand&#8217;s second-biggest lender, Kasikornbank (KBank), is currently in discussions to purchase consumer finance provider Home Credit Vietnam in a deal worth up to\u200d $1 billion. This potential acquisition would further KBank&#8217;s expansion plans in Vietnam, with the aim of becoming one of \u2063the country&#8217;s top 20 banks in terms of assets by 2027. With total assets worth $119.7 billion, KBank is currently second only\u200b to Bangkok Bank in Thailand, according to Refinitiv data.<\/p>\n<p>The news comes at\u200b a time when\u2064 Vietnamese banks are\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/minneapolis-teachers-go-on-strike-for-pay-increases-more-educators-of-color\/\" title=\"Minneapolis Teachers Go On Strike For Pay Increases, More \u2018Educators Of Color\u2019\">facing challenges due<\/a> to a\u2062 slowing economy and turmoil in the real estate sector, resulting in an increase in bad loans\u200d and interest rate cuts. If the deal goes through, it would highlight the trend of consolidation\u200b in Asia&#8217;s finance sector and mark KBank&#8217;s M&#038;A transaction as the\u2063 second largest in Vietnam&#8217;s financial industry this year.<\/p>\n<p>KBank has engaged financial advisors to explore the potential acquisition, although no\u200b final decision has been made yet. One source familiar with the matter stated,\u200d &#8220;The potential deal with Home Credit will enable the bank to promote access to financial services for small business clients.&#8221;<\/p>\n<p>KBank confirmed its interest in a deal with Home\u2064 Credit \u200bin a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinese-ev-battery-maker-catl-expects-q3-profit-to-nearly-triple\/\" title=\"Chinese EV battery maker CATL expects Q3 profit to nearly triple\">stock exchange filing<\/a>, emphasizing its continuous pursuit of various business \u200dopportunities in Vietnam. Home Credit Group, the parent company of\u2062 Home Credit\u2063 Vietnam, has not responded to requests for comment.<\/p>\n<h3>Expanding Access to Financial Services in Vietnam<\/h3>\n<p>Vietnam, with a population of over \u200c100 million \u200dpeople, has \u2064a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-thailands-kbank-in-talks-to-buy-vietnam-lender-in-up-to-1-billion-deal-sources\/\" title=\"Thailand's KBank in talks for bn deal to acquire Vietnam lender - sources.\">fast-growing\u200b working-age population<\/a>. KBank estimates that over 69% of people in Vietnam do \u2063not have\u200b a bank account, the highest rate in Asia. In June, KBank \u2062obtained approval from the Vietnamese central bank to raise its core capital for operations in the country, aiming\u2062 to become the second-largest foreign bank.<\/p>\n<p>Home Credit Vietnam, a subsidiary of Netherlands-headquartered non-bank financial institution Home Credit Group, has been operating in Vietnam since 2008. It currently employs 6,000 staff and serves\u200b 12 million customers through its 9,000 \u2063outlets, offering cash loans and\u2063 installment loans for motorcycles and consumer durables.<\/p>\n<p>($1 =\u200d 35.1200 baht)<\/p>\n<p>  (Reporting by Phuong Nguyen in Hanoi and Yantoultra\u200c Ngui in Singapore; Editing by Kane\u2064 Wu, Devika Syamnath and Christopher Cushing)<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BRICS \u200dcould be America&#8217;s Legion of Doom, John Eastman\u2064 turns\u200d himself in and Do Not Comply when faced with mandates.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Former President Donald Trump is skipping the first Republican presidential primary Wednesday evening. Arizona gubernatorial candidate Kari Lake hailed\u200c Trump for the decision, saying the race is already over. One America&#8217;s <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The president has returned to his vacation after visiting Maui on Monday, two weeks following\u2064 the deadly wildfire that has officially claimed the lives of\u2062 at least \u200c115 people, including children.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Dr. Mandy Cohen is the new CDC director after being the secretary of North Carolina&#8217;s Department of Health and Human \u200bServices. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) &#8211; International Business Machines has agreed to sell its weather business to private equity firm Francisco Partners for an undisclosed sum,\u2026\u2062 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Akash Sriram and Brenda Goh (Reuters) -China&#8217;s Baidu Inc beat second-quarter revenue estimates on Tuesday, helped by a \u2064post-pandemic\u200c recovery in\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BRUSSELS (Reuters)\u2062 &#8211; EU antitrust \u200bregulators will \u2062examine whether Microsoft&#8217;s proposal \u2063to sell its non-EU cloud streaming rights \u200cto Ubisoft Entertainment in\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By\u2062 Katie Paul NEW YORK (Reuters) &#8211; Facebook parent company Meta Platforms on Tuesday released an AI model capable of translating and\u2026\u2062 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Thailand&#8217;s Kasikornbank, the country&#8217;s second-largest lender, is in discussions to acquire Home Credit Vietnam, a consumer finance provider, for a potential $1 billion deal. This move is part of KBank&#8217;s strategy to expand its presence in Vietnam, aiming to establish itself as a key player in the country&#8217;s financial market.<\/p>\n","protected":false},"author":66,"featured_media":2008782,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2008781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2008781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2008781"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2008781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2008782"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2008781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2008781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2008781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}