A customer makes transaction at a branch of SeABank in Nam ĐỊnh province. — Photo SeABank

Southeast Asia Commercial Joint Stock Bank (SeABank or SSB) has officially signed a contract to transfer all of its capital at Post and Telecommunications Finance Company Limited (PTF) to AEON Financial Service Co Ltd, at the price of VNĐ4.3 trillion (US$175.2 million).

The transferred amount is equivalent to 100 per cent of PTF charter capital.

AEON Financial Service Co Ltd is the financial arm of Japanese retail group AEON Group.

The transfer will help improve SeABank's financial capacity, expanding scale, and investing in technology, thereby promoting business activities in key segments,

Postal Finance Company Limited (PTF) was established in October 1998 and is one of the first non-bank credit institutions in Việt Nam. SeABank received 100 per cent capital transfer from the Vietnam Posts and Telecommunications Group (VNPT) in 2018.

After being transferred to SeABank and restructuring, PTF has focused on building and providing various types of loans with quick procedures, diversifying products with attractive loan interest rates to meet diverse needs of customers.

PTF also focuses on developing the network, expanding business partners, promoting the application of information technology in product and service development, and digitising processes to improve service quality and customer experience.

PTF has also improved the quality of its human resources and perfected its management system. Currently, the company has charter capital of VNĐ1.5 trillion, nearly 2,000 employees and serves nearly 200,000 customers in 30 provinces and cities across the country. — VNS