fe credit experiences 163 per cent drop in pre tax profit as npls increase in 2020

FE Credit experiences 16.3 per cent drop in pre-tax profit as NPLs increase in 2020

Due to the COVID-19 pandemic, FE Credit – Vietnam's largest consumer finance company – reported a decrease in its pre-tax profit while its non-performing loans ratio increased to 6.6 per cent in 2020.
be group partnering up with vpbank to launch cake digital bank

Be Group partnering up with VPBank to launch Cake digital bank

Be Group (the developer of Be ride-hailing app) and VPBank have officially introduced Cake digital bank, a new solution for e-banking. This is the first time that a digital bank will appear on the interface of a ride-hailing app in Vietnam.
diversifying local consumer finance

Diversifying local consumer finance

Consumer finance companies in Vietnam are seeking new approaches to diversify their funding sources and their indirect loan portfolios, as well as lower credit and liquidity risks despite the lingering pandemic and tightening regulations.
fe credit could file for ipo in third quarter next year

FE Credit could file for IPO in third quarter next year

FE Credit, the biggest consumer finance player in Vietnam and a subsidiary of VPBank, is allegedly preparing for its initial public offering (IPO) in the third quarter of 2021.
the hardest part of a journey is the start

The hardest part of a journey is the start

At one of the country’s first large-scale community events after the initial shock of the pandemic this year, AIA Vietnam’s chief of marketing and strategy officer tied knots with the running races and showcased his company’s commitment and strategy for the upcoming time.
vpbank hanoi marathon asean 2020 a globally connected race

VPBank Hanoi Marathon ASEAN 2020, a globally connected race

The VPBank Hanoi Marathon ASEAN 2020 took place safely and successfully, joined by nearly 6,000 runners competing at the offline race in Hanoi and thousands more at various spots hosting mini races nationwide in the ASEAN bloc and many other countries around the world.
vietnamese banks take cautious approach to foreign ownership limit

Vietnamese banks take cautious approach to foreign ownership limit

The current pandemic has not only put mounting pressure on the quality of Vietnamese banks’ assets and profitability but also hampered some lenders’ cross-border mergers, forcing them to take different approaches to their foreign ownership limit.
banks bet on consumer credit growth

Banks bet on consumer credit growth

Credit institutions are being encouraged to implement consumer credit packages and preferential rates as an effective way to stimulate spending sprees and help the domestic economy tide over the storm.
fe credit toasted second quarter and first half 2020 results

FE Credit toasted second-quarter and first-half 2020 results

On August 5, FE Credit, together with its partner bank VPBank, organised an analyst call to discuss its second-quarter results as well as first-half financial achievements.
ifc loans to vpbank and ocb to boost finance for local businesses

IFC loans to VPBank and OCB to boost finance for local businesses

The International Finance Corporation (IFC) is providing $140 million in loans to VPBank and OCB to help the two banks support local businesses with disrupted cash flows sustain operations and maintain employment.
moodys maintains vpbanks credit ratings at stable

Moody’s maintains VPBank’s credit ratings at “stable”

Global credit rating firm Moody’s Investors Services has announced it would keep VPBank's credit rating at B1. This decision was made nearly four months after Moody's announced the review on risks, financial strength and development prospects of the bank amid the COVID-19 pandemic, negatively affecting almost all sectors of the economy.
aiib approves 100 million usd loan to vpbank

AIIB approves 100-million-USD loan to VPBank

The Asian Infrastructure Investment Bank (AIIB) said on July 17 that its board of directors had approved a 100-million-USD loan to the Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to help sustain business activities disrupted by the COVID-19 pandemic.
vpbank to drop foreign ownership limit from 23 to 15 per cent

VPBank to drop foreign ownership limit from 23 to 15 per cent

At its recent annual shareholders' meeting, the Board of Directors of VPBank signalled that it would reduce its foreign ownership limit in the coming time.
vpbank hanoi marathon asean 2020 donates collections to covid 19 fight

VPBank Hanoi Marathon ASEAN 2020 donates collections to COVID-19 fight

The VPBank Hanoi Marathon ASEAN 2020 organising board yesterday (May 8) visited the physicians of the National Hospital of Tropical Diseases in Hanoi's Dong Anh district and handed out VND109 million ($4,740) contributed by the athletes participating in the"Home Marathon in Support of White-Blouse Angels to Win the COVID-19 Pandemic" via the registration fees of VND500,000 ($20) each.
fe credit caps another stellar year

FE Credit caps another stellar year

FE Credit recently revealed its 2019 unaudited results in an analyst call with VPBank, which shows improvements on various fronts.