Germany bank offers $100m loan to VN firm

Thursday, Nov 23, 2017 16:46

Representatives of FE Credit and Deutsche Bank sign the $100 million secured loan. — Photo

VPBank Finance Company Limited (FE Credit) and Germany’s Deutsche Bank signed a US$100 million secured loan in HCM City on Thursday.

According to FE Credit, this loan will contribute to FE Credit’s financial strength, helping the company continue to develop businesses and consolidate its market leadership in consumer finance sector, as well as become a reliable financial support for millions Vietnamese consumers.

Deutsche Bank AG Singapore will act as the credit institution providing this loan to FE Credit.

Kalidas Ghose, CEO and vice chairman of FE Credit, said the cooperation with Deutsche Bank continues to confirm that the results of FE Credit’s business model have met the requirements of strict international standards. Meanwhile, the loan also represents the trust of partners in the direction and sustainable growth of FE Credit.

This loan will contribute to FE Credit’s long-term growth plan in the future, thereby striving to bring the best products and services in terms of price, interest rate and service quality, Kalidas added.

Highlighting the long-term commitment with its partners in Viet Nam, Sreenivasan Iyer, managing director and head of Corporate Finance for South East Asia at Deutsche Bank, said this is the largest loan of Deutsche Bank in Viet Nam’s consumer finance sector to date. This cooperation demonstrates the commitment to co-ordinate with Deutsche Bank’s partners in Viet Nam.

According to Sreenivasan Iyer, Viet Nam’s economy has huge growth potential and many opportunities to accompany the development of partners, contributing to the development of the whole country.

FE Credit is currently one of the leading companies in Viet Nam’s consumer finance, providing consumer loan services with cash loans, loans for machine purchase and loan for credits.

It was recognised by the United Kingdom’s Global Brands magazine as “Best Consumer Finance Brand, Viet Nam 2016” and by the United Kingdom’s Global Banking & Finance Review as “Best Consumer Finance Company Viet Nam 2016.”

So far, FE Credit has served nearly seven million customers and co-operated with some 5,500 partners and nearly 9,000 selling points nationwide. — VNS

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