Illustrative image (Source: VNA)
 
HCM City (VNA) - Germany’s Deutsche Bank will provide a guaranteed loan worth 100 million USD for the VPBank Finance Company Ltd (FE Credit) to strengthen its leading position in consumer finance.

An agreement to this effect was signed in Ho Chi Minh City on November 23. The loan will be transferred via the Deutsche Bank AG Singapore.

FE Credit Vice President and General Director Kalidas Ghose said the loan will contribute to FE Credit’s long-term growth by offering the best services with reasonable prices and interest rates.

Deutsche Bank’s Executive Director cum Corporate Finance Director for Southeast Asia Sreenivasan Iyer said it has so far been the largest loan in consumer finance in Vietnam provided by Deutsche Bank.

FE Credit provides consumer loans and credit cards, benefiting nearly 7 million clients. It is working with 5,500 partners and about 9,000 points of sale nationwide.-VNA