Company also looking at further possibilities in South East Asia.
Credit Saison will likely spend around 5 billion yen ($41.4 million) to take a 49 per cent stake in HDFinance, Vietnam's third-largest consumer finance business, according to Nikkei. It will look to install a chairman and chief operating officer as soon as possible. The Japanese company will also enter an operational and capital tie-in with HDBank.
Credit Saison aims to offer a broad product and service line-up to meet Vietnamese needs, in addition to issuing credit cards. It will also consider working with HDBank to launch lending operations in Myanmar and other neighboring members of the Association of Southeast Asian Nations.
- Credit Saison