NEWSLETTER

Sign up to read weekly email newsletter
Asia Tech Times
Donate
Search
  • Home
  • Breaking News
  • Business
  • Finance
  • Medical
  • Political
Reading: Dai's Security Bank acquires Mitsubishi UFJ Financial Group's stake in Home Credit Philippines Bank
Share
Font ResizerAa
Asia Tech TimesAsia Tech Times
  • Finance
  • Technology
Search
  • Home
  • Categories
    • Finance
    • Technology
  • More Foxiz
    • Blog Index
    • Forums
    • Complaint
    • Sitemap
Follow US
Made by ThemeRuby using the Foxiz theme. Powered by WordPress
Breaking News

Dai's Security Bank acquires Mitsubishi UFJ Financial Group's stake in Home Credit Philippines Bank

By Asia Tech Times
Last updated: 08/04/2025
3 Min Read
Share

Philippine banks are relying on higher-margin consumer loans as yields on commercial loans tighten.

Getty

Security Bank, a Manila-based bank controlled by tycoon Frederick Dy and his family, will acquire a 25% stake in Home Credit Philippines to build its consumer lending business.

Security Bank will pay 11 billion pesos ($182 million) for the shares, according to the Philippine Stock Exchange. The transaction is subject to regulatory approval and is expected to close in the first quarter of 2025.

“We are excited about the strategic benefits of this acquisition,” said Sanjiv Vohra, Chief Executive Officer of Security Bank. “This is a huge opportunity to leverage synergies, provide innovative lending solutions and support financial inclusion.”

Philippine banks are increasingly relying on higher-margin consumer loans as commercial loan yields tighten. Two years ago, the Aboitis family’s Union Bank of the Philippines completed the acquisition of Citibank’s credit card business in the country, while the Philippine National Bank, owned by tobacco billionaire Chen Zhiyuan, announced at a forum last month that it would Retail loans’ share of total Philippine banks’ portfolios more than doubled within two to three years.

Mitsubishi UFJ Financial Group (MUFG), Japan’s largest banking group, acquired a 20% stake in Home Credit Philippines in 2016, expanding the local bank’s customer network and establishing a personal loan joint venture with Thai bank Krungsri. MUFG owns 77% of Krungsri, Thailand’s fifth largest financial group.

In June 2023, MUFG and Krungsri acquired all of Home Credit for P24.4 billion. Following the sale of the minority stake to Security Bank, Krungsri will retain a 75% stake.

“Security Bank will complement Home Credit Philippines’ Krungsri,” said Yasushi Itagaki, group chief operating officer. “Security Bank’s on-the-ground presence and local market knowledge will drive continued growth for Home Credit Philippines.”

In its 11 years of operation, Home Credit has served 11 million customers and provided more than P350 billion in credit through point-of-sale loans, installment financing, cash loans and credit cards. Home Credit is the market leader in point-of-sale lending, with partnerships with top retailers and brands.

In August, when Forbes released its list of the Philippines’ 50 richest people in 2024, Dy was the honorary chairman of Philippine Securities Bank and his net worth was US$170 million. With a 19% stake, the bank has 334 employees.

TAGGED:acquiresBankCreditDai39sFinancialGroup39sHomeMITSUBISHIPhilippinessecuritystakeUFJ

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print

SUBSCRIBE NOW

Subscribe to our newsletter to get our newest articles instantly!

HOT NEWS

Will China’s Demographics Constrain Its Diplomacy?

Reps of individuals’s Freedom Military reached the National Congress with each other … Even More…

14/07/2025

China’s CATL Really feels the Pinch of a Lithium Cost Downturn it Developed

Years of long-lasting decreases in lithium costs are currently beginning to take a toll on…

19/03/2025

OpenAI strategies Sora video clip generator combination right into ChatGPT

Sora was released in December 2024 as a standalone internet application, making it possible for…

19/03/2025

YOU MAY ALSO LIKE

Malaysian Magnate Lin Yun Ling’s Gamuda Wins $883 Million Port Job In Taiwan

The Kaohsiung Port job notes Gamuda’s nine success in Taiwan, comparable … Even More (as displayed in the image), which…

Breaking News
06/07/2025

As Need For Their Air Conditioning Instruments Hots Up, Brothers Adventure The AI Wave To Debut On Taiwan’s 50 Richest Listing

Jentech’s head office in Taipei. Jentech Accuracy Market This tale belongs to Forbes’ record on Taiwan’s wealthiest 2025. See the…

Breaking News
06/06/2025

Pressed right into Bangladesh by India’s Boundary Safety Pressure: ‘I simply desire my mom back’

Dhaka – Previously this month, an Indian guy gotten in touch with Assam authorities to assist discover his senior mom,…

Political
11/07/2025

Thai Billionaire Obtains 24-Year Prison Term Over Alleged Illegal Golf Land Advancement

Hill Creek Golf Hotel and House in Thailand. Thanks To Hill Creek Hotel Coffee and steel huge Prayudh Mahagitsiri was…

Breaking News
04/05/2025

Asia Tech Times (ISSN: 3079-8566) stands as a preeminent authority in technology journalism, delivering profound insights and strategic intelligence on the technological advancements shaping the Asia-Pacific region and beyond. Renowned for its depth of analysis and editorial excellence, the publication serves as a critical nexus for industry leaders, policymakers, scholars, and innovators navigating the evolving digital landscape.

  • Jobs Board
  • About Us
  • Contact Us
  • Privacy Policy
  • Exclusives
  • Learn How
  • Support
  • Solutions
  • Terms And Conditions
  • Editorial Policy
  • Marketing Solutions
  • Industry Intelligence

Follow US: 

Copyright © 2025 Asia Tech Times. All Rights Reserved.

All content published by Asia Tech Times (ISSN: 3079-8566), including but not limited to articles, reports, editorials, graphics, images, logos, and digital media, is the exclusive intellectual property of Asia Tech Times and is protected under international copyright laws and treaties.

Asia Tech TimesAsia Tech Times
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?