AEON Financial Service, part of Japan’s AEON Group, has acquired Vietnam’s Post and Telecommunication Finance Company (PTF) from SeABank for appoximately US$170 million, DealStreetAsia reported.
The deal, valued at 4.3 trillion Vietnamese dong, received approval from the State Bank of Vietnam (SBV), making AEON Financial the sole owner of PTF.
The acquisition, finalised over a year after the agreement was signed, aligns with SeABank’s strategy to restructure its capital base.
The bank aims to strengthen its financial capacity, invest in technology, and expand its operations following the sale.
Established in 1998 as part of the state-owned VNPT, PTF was one of Vietnam’s first non-bank credit institutions.
VNPT sold the business to SeABank in 2018 before it changed hands again through this latest transaction.
AEON Financial, a major player in Japan’s financial services sector, has operated in Vietnam since 2008 through ACS Vietnam Trading Company Limited.
Its offerings include installment-based consumer financing in collaboration with retailers.
Vietnam’s consumer finance market has seen growing interest from international firms.
With just 16 financial companies licensed by the SBV, market entry opportunities are limited.
Notable deals include SCBX’s US$896 million purchase of Home Credit Vietnam, expected to close by mid-2025, and Ayudhya Public Limited Bank’s acquisition of the remaining 50% stake in SHB Finance in 2024.
In 2021, VPBank also sold 49% of its FE Credit unit to Japan’s Sumitomo Mitsui Financial Group.
