Home Credit impresses investors with strong growth

Over its 14-year presence in Vietnam, Home Credit has always maintained its core values of sustainability, transparency, legal compliance, and customer dedication.

Home Credit impressed investors with strong growth

Home Credit is among the big financial companies with an overwhelming market share in Vietnam. It is also trusted by domestic and foreign partners alike.

The company has successfully raised VND1.1 trillion ($47.8 million) through three rounds of bond sales in August and September. The debt was snapped up by local commercial banks and professional securities investors, following a strict review process. Home Credit’s transparency in information disclosure and business prospects are crucial factors contributing to its fruitful bond issuance.

Home Credit ranks second in market share for total loan balance in Vietnam's consumer finance industry. Its focussed strategy of responsible lending and sustainable development through a collection process based on standards under the European Union’s Markets in Financial Instruments Directive has helped the firm to constantly keep its bad debt ratio below the threshold of 3 per cent set by the State Bank of Vietnam, and to reach just 2 per cent in 2022.

The company was also nationally voted a favourite brand for three years running between 2020-2022, according to a recent market survey by Ipsos.

Filip Dosedel, head of Cards and Revolving Products at Home Credit Vietnam (middle), with Nguyen Thi Kim Oanh (left), president of the Vietnam Bank Card Association, and Nguyen Quoc Hung, general secretary of the VNBA, at the admission ceremony

Community development

Key to Home Credit’s sustainable development is practising responsible lending through a series of support solutions, providing customers with essential financial knowledge, and financial inclusion.

With a development strategy based on comprehensive digital financial standards, responsible lending, and the strict application of sustainable business principles adopted in its latest ESG report, Home Credit Vietnam has undertaken a number of activities to connect and support local communities.

As part of Home Credit’s sustainable community building in Vietnam, the Home Love Bus project is an outstanding programme to send love and hope to vulnerable local people across the country.

First deployed in September 2021, Home Love Bus has become an annual activity, providing direct support and relief for poor children and people in need.

In July, the Home Love Bus delivered over 100 gifts to patients and their children at Ben San Leprosy Treatment Centre in Binh Duong province, and nearly 100 gifts to children living and studying under the care of the Hoa Hao Love Class project in Ho Chi Minh City. The gifts included stationery and daily essentials, helping children and families to get through hardship.

The Home Love Bus continued by bringing the joy of the Mid-Autumn Festival with gifts and love delivered in person to children in the remote A Luoi district of Thua Thien – Hue province. The bus is expected to return in December with various gifts for poor households in northern mountainous provinces.

In addition to its programme to support localities directly, Home Credit is devoted to promoting social integration, education, and job creation for Vietnamese women as part of the next leg of its journey to strive for community development in Vietnam.

Home Credit invests VND200 billion into Buy Now Pay Later service Home PayLater – a digital financial product with a VND200 billion ($8.7 million) investment – is set to enhance the convenience of consumers’ online shopping experiences.

Home Credit: Thinking differently about financial literacy Home Credit has been conducting financial literacy education programmes for more than two decades – an uncommon and pioneering practice in the consumer finance industry. The company also measures the impacts of financial education programmes on its customers, which sets it apart from other industry players.

Home Credit becomes member of Vietnam Bank Card Association Home Credit Vietnam has joined the Vietnam Bank Card Association (VBCA) under the Vietnam Banks Association (VNBA), marking a milestone in the development of the digital consumer financier in Vietnam’s financial market.