PATIPAT JANTHONGSET-listed Bank of Ayudhya (BAY) has put off exploring business opportunities in Vietnam after facing several hurdles, particularly the high costs of mergers and acquisitions (M&A). With a limited number of consumer finance licences in Vietnam, acquisition costs for the business are relatively high, he said. BAY, Thailand's fifth-largest lender by assets, was in talks during a two-year search in Vietnam for consumer finance business opportunities. The bank has a footing in Cambodia, Laos and Myanmar through its overseas branch and consumer finance networks. Mr Thakorn said business opportunities in Cambodia have widened through HKL, with business coverage now extended to deposits, fund transfers and fintech from microfinance service.

Source: Bangkok Post May 20, 2018 23:48 UTC