Home Markets How FE Credit came to dominate Vietnam’s consumer lending market

How FE Credit came to dominate Vietnam’s consumer lending market

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Business
– November 11, 2021 | 09:00 am GMT+7


According to the State Bank of Vietnam, in 2020, the outstanding consumer credit balance reached a relatively high level of VND1.8 million billion, accounting for 20 percent of outstanding loans to the economy.

For consumer finance businesses, outstanding loans reached VND130,000 billion, serving more than 30 million customers, a significant number for the fledgling domestic consumer finance market.

For years, the system of credit institutions and consumer finance companies has thrived to keep up with the increasing demand for capital. As a pioneer of Vietnam’s consumer finance industry, FE Credit has laid a foundation for the domestic market.

After more than a decade, the company currently accounts for nearly 50 percent of Vietnam’s consumer lending market share with more than 12 million customers, 21,000 points of sale nationwide, and 16,000 strategic partners. FE Credit has contributed to…

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