SHBFinance changed its name to SFinance during the capital transfer process to Krungsri

SHBFinance changed its name to SFinance in the process of transferring all capital to Thailand's Krungsri financial group.

Saigon - Hanoi Banking Finance Company Limited (SHBFinance) has just changed its name to SFinance Consumer Credit Finance Company Limited (SFinance).

From mid-July, this business also changed from a limited liability company with two or more members to a single-member limited liability company.

This is the next step in the process of changing the ownership structure at this enterprise. Since two years ago, Saigon - Hanoi Bank (SHB) began the process of transferring 50% of capital at SHBFinance to Krungsri. The remaining capital is expected to continue to be transferred according to the approved roadmap after completing relevant procedures.

Krungsri is Thailand's fifth largest financial group in terms of asset size and is a member of Mitsubishi UFJ Financial Group (MUFG), one of Japan's major financial groups.

Ms. Olena Khlon, General Director of SHBFinance, said that being approved to change the ownership structure creates a foundation for the company to continue to improve management capacity, invest in technology and develop financial products.

After more than 8 years of operation, SHBFinance said it has about 4,500 employees and 1 million customers, belonging to a group of 8 consumer finance companies in Vietnam. This business plans to continue expanding products such as cash loans, credit cards and online loans, while increasing investment in digital technology and security.