FE Credit sweeps up new accolades

FE Credit’s CEO and directors were delighted to receive the prestigious The Asian Banker award

FE Credit has been recognised as one of the top 10 largest private companies in the finance, banking, and securities sector, as announced in the annual rankings of Vietnam’s 500 largest enterprises (VNR500) in 2018, conducted by Vietnam Report. It is also the only finance company within the top 100 largest enterprises in Vietnam across all sectors.

The VNR500 ranking has for 12 years been researched and published based on multiple criteria including enterprise revenues, total assets, and total labour force, as well as their corporate prestige.

In addition to outstanding business results in 2018, FE Credit received 10 further awards from prestigious organisations and broke the record for the most wins in consumer finance (CF) in the history of the Vietnamese banking industry. Highlighted awards included Consumer Finance Product of the Year, from The Asian Banker; and Asia’s Most Innovative Consumer Finance Brand, awarded by Global Brands magazine.

Meanwhile, in September 2018, Moody’s announced a corporate credit rating of B2 for the company. The rating is equivalent to the level of several leading domestic and foreign institutions in Vietnam.

The global recognition reiterates FE Credit’s outstanding achievements across the year. Whilst its parent VPbank’s 2018 annual results has been officially released, the largest consumer finance firm in terms of market share in Vietnam has revealed its stellar performance. While almost all of its competitors witnessed a slowdown, FE Credit still scored an almost 30 per cent increase in accounts and 23 per cent swell in new customers on-year.

FE Credit’s recent awards in innovation reflected its excellence after years of pioneering the most advanced financial technologies into its business processes.

With three strong awards to its name, the company’s credit cards overwhelmingly convinced the judges at the Cards and Electronic Payments International Asia Awards. The Asian Banker’s award to FE Credit of Consumer Finance Product of the Year recognised the company’s new digital lending process has enabled customers to purchase the desired products online and get instant loan approval, without the need to go to a physical outlet, and have the goods delivered to their doorstep next day.

Meanwhile, Global Brands also recognised FE Credit as Most Innovative Consumer Finance Brand thanks to its outstanding financial solutions in the market that integrate technologies into the lending process, helping to overcome the disadvantages of traditional lending models.

The continuous launches of many new capabilities to deliver fast and easy lending has contributed significantly to the success of FE Credit in the past year. The company’s ambition is now to create a financial ecosystem driving financial inclusion in Vietnam and supporting economic progress by driving the wheels of domestic business.