Moody's Investors Service has placed the long-term ratings and assessments of three Vietnamese finance companies and two Vietnamese banks on review for downgrade.
GoBear, Asia’s first and only metasearch engine for insurance and banking products, and FE Credit, the largest lender in Vietnam’s consumer finance market, have signed a deal to drive greater financial inclusion for Vietnamese people.
VP Bank Finance Company Limited (FE CREDIT), one of the largest credit card issuers in Vietnam, scored a hat-trick of gongs at the 5th Annual Cards and Electronic Payments International (CEPI) Asia Awards 2018.
Consumer finance companies have been cutting credit growth to focus more on tightening internal governance and selecting solvent customers to target a safer and healthier development.
Several banks are keen to establish consumer finance arms to grab a bigger share of a market that is expected to reach 1,000 trillion VND (4.38 billion USD) by 2020 and grow at 29 percent annually.
Commercial banks are expecting the revenue from fees and retail banking services to become their main income sources this year, as a result of rising market demands.
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.
Consumer finance is proving to be an attractive sector with the number of foreign companies rising through mergers and acquisitions, the news site cafef.vn reported.
Business
