Commission Decision No. 17-M-014/2020:
Proposed Acquisition by Bank of Ayudhya Public Company Limited of Shares in SB Finance Company, Inc. 
ABSTRACT
The transaction involves the proposed acquisition by Bank of Ayudhya Public Company Limited (Bank of Ayudha) of 7,075,000 common shares of the capital stock of SB Finance Company, Inc (SB Finance) which in turn represents 50% of the total issued and outstanding capital stock of SBF. 
Acquiring entity, Bank of Ayudhya, is a banking corporation existing and duly constituted under the laws of the Kingdom of Thailand. Its ultimate parent entity is Mitsubishi UFJ Financial Group, Inc. (MUFG), a Japanese banking corporation whose presence in the Philippines is through MUFG Bank Limited in Manila and through Acom Consumer Finance Corporation. The latter is considered MUFG’s consumer loan arm, through which it offers the unsecured personal loans.
 
On the other hand, SB Finance Company, Inc. (SB Finance) is a subsidiary of Security Bank Corporation (SBC) that mainly offers consumer loans in the Philippines. Security Bank stands as the registered and beneficial owners of a total of 14,085,302 common shares with a par value of Php100.00 per share representing approximately 99.54% of the total issued and outstanding common capital stock of SB Finance.