AEON Financial Service and SeABank agree to resolve PTF matter

AEON Financial Service and SeABank agree to resolve PTF matter

AEON Financial Service Co., Ltd. (AFS) has reached an agreement with SeABank to resolve a debt matter at Post and Telecommunication Finance Co., Ltd. (PTF).

In October 2023, AFS entered into a share transfer agreement with SeABank to acquire all shares in PTF. Following approval from relevant Vietnamese authorities, the transaction was completed in February 2025.

Subsequently, during the post-merger integration process, AFS identified potential discrepancies in loan-loss provisions at PTF. In response, AFS issued a formal notice to SeABank regarding possible reconsideration of the transaction, based on relevant Vietnamese laws and regulations.

Since June 6, AFS has engaged in comprehensive discussions with SeABank to resolve this matter constructively and cooperatively.

Through these detailed discussions, AFS has clearly confirmed that SeABank neither participated in nor had knowledge of these loan-loss provision discrepancies.

As a result of these collaborative discussions, both parties have agreed to support with PTF’s business growth and debt resolution. Both parties have also committed to jointly fostering PTF’s business growth.

In response, acknowledging this cooperative approach, AFS has decided to withdraw its preliminary notice related to reconsideration of the transaction. AFS has reaffirmed its intention to manage and develop PTF sustainably in the long term, leveraging its 100 per cent ownership and PTF’s financial licence to contribute positively to Vietnam’s robust economic prospects.

Following the collaborative resolution with SeABank, AFS has successfully updated and reconstructed PTF’s business strategy. The broader financial needs and service opportunities generated by AEON Group’s ongoing business operations remain unaffected and robust.

According to SeABank, AFS has signed a cooperative agreement with SeABank to develop retail products and services for the needs of both parties' customers in Vietnam.

VIR