Bank of Ayudhya Public Company Limited (SET:BAY) agreed to acquire 50% of stake in SHBank Finance Company Limited from Saigon - Hanoi Commercial Joint Stock Bank (HNX:SHB) for approximately THB 2.3 billion on August 25, 2021. The Board of Bank of Ayudhya Public Company Limited approved the deal. As of August 27, 2021, General Meeting of Shareholders of SHB and Board of Directors approved the divestment of SHB in SHBANK Finance Company Limited. The transaction is subject to approval from Bank of Ayudhya Public Company Limited?s shareholders, Bank of Thailand and State Bank of Vietnam. This Transaction is also subject to satisfactory regulatory approvals from the Bank of Thailand, and/or other relevant regulators in Thailand and other countries. Total assets of THB 6,164.8 million and shareholder equity of THB 1,530.5 million on June 30, 2021. Kiatnakin Phatra Securities Public Company Limited acted as financial advisor to Bank of Ayudhya. On October 29, 2021, the Extraordinary General Meeting of Shareholders of Bank of Ayudhya Public Company Limited (SET:BAY) approved the transaction. In December 2021, Bank of Thailand approved the transaction.

Bank of Ayudhya Public Company Limited (SET:BAY) completed the acquisition of 50% of stake in SHBank Finance Company Limited from Saigon - Hanoi Commercial Joint Stock Bank (HNX:SHB) on May 22, 2023.