Deutsche Bank provides a $100 million loan to FE CREDIT
14:00 | 24/11/2017 Print Article
FE CREDIT yesterday announced that it will receive a $100-million loan facility from Deutsche Bank. This loan will provide FE CREDIT with additional capital to continue to grow its business and remain the market leader in the Vietnamese consumer finance industry as well as a trusted financial partner for millions of Vietnamese people.
Deutsche Bank AG Singapore will act as facility agent for this $100 million loan. FE CREDIT holds nearly 50 per cent of the market share in the consumer finance industry in Vietnam.
“We are very pleased to receive such strong support from our international banking partners with the help of this facility,” said Kalidas Ghose, vice chairman and CEO of FE CREDIT. “Our partnership with Deutsche Bank re-affirms our brand value and the operational excellence of our business in meeting the highest level of international standards. Also, it demonstrates the trust that our partners have in our business performance, the sustainable growth of FE CREDIT and the vision of its shareholders as well as management going forward.”
Founded in Germany, the worldwide Deutsche Bank provides commercial and investment banking, retail banking, transaction banking, and asset and wealth management products and services to corporations, governments, institutional investors, small- and medium-sized businesses, and private individuals.
With a history in the international market since 1870, Deutsche Bank is Germany’s leading bank with a strong position in Europe and a significant presence in the Americas and the Asia-Pacific.
“We are delighted to be working with FE CREDIT. CREDIT. This is Deutsche Bank’s largest loan to the consumer finance industry in Vietnam to date,” Sreenivasan Iyer, managing director and head of Corporate Finance Southeast Asia at Deutsche Bank, said. “This year, Deutsche Bank celebrated its 25th anniversary in Vietnam. This co-operation demonstrates the bank’s unwavering commitment to our clients in this country. As Vietnam's economy continues to thrive, we see many opportunities to partner with our clients to support their growth. We are proud to play a role in Vietnam’s growth story.”
Pioneering in consumer finance, FE CREDIT has established solid foundations to become the market leader of the unsecured consumer loans market. It currently provides consumer lending services, such as personal loans, two-wheeler loans, consumer durable loans, and credit cards. FE CREDIT has served almost seven million customers, co-operating with 5,500 partners across 9,000 points of sale nationwide.
||FE Credit raises $100 million in financing arranged by Credit Suisse
VPBank Finance Company Limited (FE Credit) today announced that the company had obtained a $100 million senior secured term loan committed with Credit Suisse AG Singapore on December 28, 2016 to supplement working capital as it continues to build its domestic consumer finance services business.
By Ngoc Huyen