The three Japanese megabanks Mitsubishi UFJ Financial Group, Mizuho Financial Group, and Sumitomo Mitsui Financial Group are reportedly among the eligible candidates for Home Credit's assets in Southeast Asia and India, cited Bloomberg.

Furthermore, according to industry insiders, the Southeast Asian ride-hailing and delivery giant Grab has proceeded to the next step of a potential acquisition deal.

Home Credit expects its subsidiaries in Indonesia, Vietnam, the Philippines, and India to be worth between $2 billion and $2.5 billion when they are fully operational.

According to Bloomberg, some of the competitors are interested in acquiring the whole Southeast Asian and Indian businesses, while others are just interested in the Southeast Asian portfolios. The businesses, on the other hand, are still debating whether or not to proceed with their proposed acquisition.

Home Credit was created in 1997 and now operates in nine countries spanning Asia, Central and Eastern Europe, and the former Soviet Union.