The Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has just signed a decision to award a certificate of merit to Home Credit Vietnam for its contributions and positive social activities in the prevention of the pandemic in the past two years.
In addition to strict compliance with the pandemic prevention and directives of the government, the SBV, and relevant authorities, Home Credit Vietnam has donated around $110,000 to the Vaccine Fund, and assisted frontline healthcare workers, mobilised several thousand meals and necessities for ten field hospitals.
The company also worked with other donors and sponsors to present 1,000 gifts to children, most of whom became orphans due to COVID-19.
|The certificate of merit presented by the SBV to Home Credit Vietnam |
Social distancing and lockdowns have brought extreme hardship for workers. In order to support customers to deal with COVID-19 induced difficulties, Home Credit Vietnam has made efforts to develop and adjust appropriate interest rate frameworks aiming to reduce financial distress on households and individuals.
Interest rate exemptions and reductions and suitably adjusted loan repayment periods are part of the environmental, social and governance (ESG) goals pursued by Home Credit.
Home Credit recently published its first-ever report on ESG activities that the group has been implementing to support customers and the community. The report highlights responsible lending, enabling people to fully understand digital and financial inclusion as elements that are woven into the corporation's DNA.
These principles are also the core of ESG activities in Vietnam, forming a solid foundation for Home Credit to support its customers, communities, employees, and partners.
Annica Witschard, CEO at Home Credit Vietnam shared, “In Vietnam, we are leading the way on ESG standards. I am delighted about how we have quickly and decisively acted to help others."
|The “Tet Du la Tet trao di” campaign was part of the Home Love activity series for the community |
According to a report by FiinGroup, the impact of the pandemic on the world’s consumer finance segment did not show any significant moderating effect.
Studies by HSBC, Kantar Vietnam, and Nielsen IQ Vietnam all say spending by young people will greatly affect Vietnam’s consumption in 2022, forcing financial firms to apply new technologies and build financial ecosystems to adapt to the increasing competitive pressure brought by the fintech surge.
This was reflected by Governor Nguyen Thi Hong at the National Assembly last October. “Consumer lending plays an important role in economic and social development, improving quality of life for people through the provision of loans and credit lines to lift customer spending in the country”, she said.