Mcredit climbs VNR500 rankings

December 14, 2023 | 08:00
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According to results from MB Shinsei Finance Limited Liability Company (Mcredit) the company has overcome general market uncertainties to excellently move up from 367th position to 189th position in this year's VNR500 rankings.

Mcredit has also achieved the No.1 position in the consumer finance sector in Vietnam, and last May, won the 'best consumer finance company' award from The Global Economics, a global business and financial analysis magazine.

In July, Mcredit was highly rated by Fitch Ratings with a positive outlook for 2023, which was the highest rating for a consumer finance company in Vietnam. Additionally, Mcredit was also awarded the 'financial institution with impressive growth in card transaction turnover 2022' award from international card organisation JCB.

Mcredit climbs VNR500 rankings

Mcredit has identified becoming No.1 in terms of efficiency, Top 2 in terms of market share in the consumer finance industry, and serving 8–10 million customers as among its most important strategic goals during the 2022–2026 period.

Along with such goals, the lender is implementing strategic initiatives along customer-centric guidelines, with an inclusive financial solutions' system, optimally designed to suit every kind of customer.

In addition, cooperation agreements with Vietnam Vaccine JSC, VinFast, and the National Payment Corporation of Vietnam have also contributed to bringing more convenient financial solutions to customers.

Mcredit climbs VNR500 rankings
Mcredit signed a strategic cooperation agreement with VinFast in August

Mcredit will continue to cooperate with large strategic partners with diverse experience and capacity into next year, while increasing its presence on digital platforms and implementing promotional schemes with alluring features on the Mobile APP channel.

Established in 2016, Mcredit is a joint venture between Military Commercial Joint Stock Bank (part of MB Group) and SBI Shinsei Bank (Japan).

Over the past seven years, Mcredit has asserted its position in the Top 3, narrowing the gap with the Top 2 in the Vietnamese consumer finance market.

Consistent with a 'customer-centric' business strategy, Mcredit provides financial solutions for customers with smart digital technology applications, inclusive product strategies, and a top-notch customer experience.

To maximise payment convenience, Mcredit has connected almost 27,000 Payoo, MoMo, Viettel, VnPost payment points with MBBank's branch and transaction-office systems nationwide.

As it enters its eighth year, Mcredit will continue to implement six effective strategic shifts. These are: customer centricity; digital transformation; excellent data; smart risk management and collection; corporate synergies and strategic partners; and advanced corporate governance to accomplish set strategic goals.

The VNR500 rankings, now in its 17th year, are based on independent research and evaluation results according to international standards by Vietnam Evaluation Report JSC, and published annually by Vietnamnet newswire.

Mcredit affirms reputation as effective consumer finance brand Mcredit affirms reputation as effective consumer finance brand

Since the end of last year, the market has witnessed a number of moves by management agencies to promote the development of consumer finance and limit black credit to protect customers' rights. For their part, non-bank credit institutions have also taken different solutions for sustainable development, contributing to the formation of a healthier market. Hoang Minh Tuan, CEO of MB Shinsei Finance Limited Liability Company (Mcredit), talked with VIR about the company’s digital future.

Mcredit spreads wings leveraging group synergy with parent banks Mcredit spreads wings leveraging group synergy with parent banks

Mcredit has swiftly managed to take advantage of its parent groups and their business ecosystems to develop and grow.

Mcredit wins 'Best Consumer Finance Company' once again Mcredit wins 'Best Consumer Finance Company' once again

MB Shinsei Finance Co., Ltd. (Mcredit) has secured the prestigious 'Best Consumer Finance Company in Vietnam' for 2023. This is the second year in a row that the loan provider has received the award, and the third year in a row to be honoured at the event.

By Anh Duc

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional