HDBank, one of the largest joint-stock banks in Vietnam, has acquired HD SAISON Finance Co., Ltd (HD SAISON) for an undisclosed amount. This corporate acquisition sees HDBank take full ownership of the consumer finance company, which was previously a joint venture between HDBank and Credit Saison, a leading Japanese financial services group.
HD SAISON has operated for nearly 10 years, establishing itself as a significant player in Vietnam's consumer lending market. It has provided consumer loans to nearly 2 million clients through an extensive network of 6,000 service introduction points across all 63 provinces and cities of Vietnam. The company offers a wide range of financial services, including loans for motorcycles, electronics, home appliances, mobile phones, interior products, and cash loans. Notably, HD SAISON was the first consumer loan company to introduce automobile and mini truck loans, and remains the sole provider of travel, wedding, and study loans in the market. Its offerings are characterized by non-secured options, up to 100% financing, and lending up to 500 million VND, requiring only an ID card and Family book, with no hidden fees. HD SAISON maintains offices in Hochiminh City and Hanoi, employing over 8,000 staff and partnering with 12,000 entities.
The acquisition is a strategic move for HDBank to consolidate and significantly expand its presence in the rapidly growing consumer finance sector. By fully integrating HD SAISON, HDBank aims to leverage the consumer finance company's specialized expertise, extensive operational network, and diverse product portfolio. This move allows HDBank to streamline operations and fully capitalize on the synergies between its traditional banking services and HD SAISON's focused consumer lending solutions.
This full acquisition is expected to enhance HDBank's overall market reach and diversify its financial product offerings, strengthening its competitive position within the Vietnamese financial landscape. The combined entity is poised to deliver a more comprehensive suite of financial solutions to a broader customer base, integrating HD SAISON's established consumer lending capabilities with HDBank's robust banking infrastructure.