SeABank and AEON Financial Service have signed a Memorandum of Understanding for strategic cooperation and exchanged the Capital Transfer Agreement of PTF. — Photo courtesy of SeABank

HÀ NỘI — Southeast Asia Commercial Joint Stock Bank (SeABank or SSB) and AEON Financial Service Co (AEON Financial) will strengthen their cooperative relationship and contribute to the development of Việt Nam’s financial market.

The consensus followed a memorandum of understanding for strategic cooperation inked recently between the two companies in Tokyo, Japan. 

Last week, SeABank and AEON Financial also signed and exchanged a capital transfer contract for the Post and Telecommunications Finance Company Limited (PTF), valued at VNĐ4.3 trillion (US$175.2 million), during the Việt Nam-Japan Economic Forum in Tokyo. The signing ceremony witnessed the presence of Prime Minister Phạm Minh Chính and Nishimura Yasutoshi, Japanese Minister of Economy, Trade, and Industry (METI). 

The signing of the memorandum of strategic cooperation is expected to open opportunities for deeper cooperation between SeABank and AEON Financial, so they may become comprehensive partners while maximising the strengths of both parties.

AEON Financial is a member of the financial sector within the AEON Group, the largest retail conglomerate in Japan, with a strong presence in Japan, China, and Southeast Asia, including Việt Nam.

As of the end of February 2023, AEON Financial has reached 48 million credit card users. In 2022, AEON Financial achieved an operational revenue of nearly US$3.5 billion, owner's equity of over $3.1 billion, and total assets exceeding $46.5 billion.

AEON Financial commenced operations in Việt Nam in 2008 through the establishment of ACS Vietnam Trading Limited Liability Company, providing instalment sales services in collaboration with retailers for durable consumer goods. — VNS