THAILAND-BASED Bank of Ayudhya Public Co. Ltd. is set to acquire a 75% stake in consumer financing firm HC Consumer Finance Philippines, Inc. (HCCFP) as part of its expansion efforts in Southeast Asia.
THAILAND-BASED Bank of Ayudhya Public Co. Ltd. is set to acquire a 75% stake in consumerorts in Southeast Asia.fi
S&P said the acquisition is also in line with Bank of Ayudhya’s strategy to “seek opportunities in the retail space, where it has some expertise.”ers that will help it mitigate the risks associated with the proposed acquisitions,” it added.“The deal size is about ฿17 billion, about 6% of the bank’s total adjusted capital as of Dec. 31, 2021. The impact of the acquisition on the bank’s capital should be manageable,” it added.
The bank has also maintained a lower nonperforming loans ratio of 2.38% versus the industry average of 2.77% as of end-September.
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