Krungsri and PT Adira Dinamika Multi Finance, Tbk (Adira), a subsidiary of Bank Danamon, a member of MUFG, have reached an agreement to purchase PT. Home Credit Indonesia's share capital by 75% and 10%, respectively, from Home Credit Indonesia B.V. and Ms. Wanda Ariestiani Evans.
Krungsri and MUFG have also reached an agreement to purchase HC Consumer Finance Philippines, Inc.'s share capital by 75% and 25%, respectively, from HC Philippines Holdings B.V. and Filcommerce Holdings, Inc. In addition, Krungsri will also acquire 100% of the share capital of HCPH Financing 1, Inc. and HCPH Insurance Brokerage, Inc., which are the supporting businesses of HC Consumer Finance Philippines.
Krungsri President and Chief Executive Officer Mr. Seiichiro Akita said, "We are very pleased to announce the signing of an agreement for the acquisition of PT. Home Credit Indonesia and HC Consumer Finance Philippines, Inc., upon closing of the transaction after all regulatory approvals. We are confident that their local expertise and well-established network together with Krungsri's extensive experience in the consumer finance business will enhance their business competitiveness. Our synergy will benefit all stakeholders, including local customers in Indonesia and The Philippines. This milestone again underscores our commitment to the ASEAN expansion strategy, paving the way towards our aspiration to "Be the Preferred Thai Bank Connecting Customers' Needs across ASEAN."
PT. Home Credit Indonesia and HC Consumer Finance Philippines, Inc. are key players in the consumer finance industry in their respective markets. They engage in the business of personal loan to consumers in the mass and upper mass markets. With strong branding and well-established omni-channel distribution, both companies have become the leading POS loan providers. PT. Home Credit Indonesia serves approximately 11 million mobile application users and lends to approximately 5 million customers in Indonesia. HC Consumer Finance Philippines, Inc. serves approximately 9 million mobile application users and lends to approximately 8 million customers in The Philippines. [Data as of December 31, 2021]
Source: Bank of Ayudhya