PwC (Vietnam) Limited advised SMBC Consumer Finance Co., Ltd on the purchase of 49% equity stake in VPBank Finance Company Limited (FE Credit) from Vietnam Prosperity Joint Stock Commercial Bank

SMFG is one of the largest banking and financial groups in Japan. The group operates internationally in retail banking, corporate banking, investment banking, leasing, securities and consumer finance business. SMBCCF, the leading consumer finance company in the Japanese market, acquired the stake as part of the group's mid-term strategy to expand its business base in Asia.

FE Credit is currently the leading consumer finance company in Vietnam with approximately 50% market share that provides cash loan and credit card services to retail customers. With a nation-wide network and advanced mobile applications, so far, FE Credit has served about 11 million Vietnamese people with its unsecured lending and services offerings.

On the back of PwC MYVN’s very strong track record in consumer finance deals and the established market knowledge, PwC was able to bring SMFG into the process.

The Corporate Finance teams from PwC Japan and PwC MYVN acted as the exclusive financial advisor to SMFG in connection with the transaction.

The transaction was signed on 28 April 2021 and received final approval by the State Bank of Vietnam on 20 October 2021.