Japan's SMFG to invest up to 150 bln yen in Vietnam's FE Credit

Thursday, April 29, 2021, 09:17 GMT+7
FE Credit's logo is seen atop an office building in Vietnam. Photo: Tuoi Tre
TOKYO -- Sumitomo Mitsui Financial Group Inc will invest up to 150 billion yen ($1.38 billion) in Vietnam’s biggest non-bank lender FE Credit, a spokesman said on Wednesday, as part of a strategy to look beyond a slow-growing domestic market.
SMFG, Japan’s second biggest lender by assets, said in a statement its consumer finance unit would acquire a 49% stake in FE Credit.
The Vietnamese firm’s valuation was $2.8 billion, its parent company said in a separate statement.
The deal, which was reported by the

Related Keywords

Vietnam ,Republic Of ,Philippines ,Japan ,Indonesia ,India ,Vietnamese ,Jun Ohta ,Tokyo Sumitomo Mitsui Financial Group Inc ,Reuters ,Mitsui Financial Group Inc ,Southeast Asia ,Vietnam Life Japan Amp 039s Smfg To Invest Up 150 Bln Yen In Fe Credit ,வியட்நாம் ,குடியரசு ஆஃப் ,பிலிப்பைன்ஸ் ,ஜப்பான் ,இந்தோனேசியா ,இந்தியா ,வியட்நாமிய ,ராய்ட்டர்ஸ் ,மிட்ஸ்யூயீ நிதி குழு இன்க் ,தென்கிழக்கு ஆசியா ,