Home Credit Vietnam has been awarded a certificate of merit by the State Bank of Viet Nam for its contributions to the prevention of the COVID-19 pandemic and other positive social activities over the last two years.

In addition to strict compliance with safety mandates from the Government, the central bank and other authorities, the company also donated around VND2.5 billion to the Government’s vaccine fund, assisted frontline health workers, mobilised thousands of meals and necessities for 10 field hospitals, isolation wards and care centres for the elderly people and orphaned and disadvantaged children.

It joined other donors and sponsors to give gifts to 1,000 children, most of them orphaned by COVID.

To help its customers deal with financial distress caused by COVID, Home Credit developed an appropriate interest rate framework.

Interest rate exemptions and reductions and rescheduling of loan repayments are part of the environmental, social and governance goals pursued by Home Credit.

The company recently published its first ever report on ESG activities it has been undertaking to support customers and the community.

Annica Witschard, CEO of Home Credit Vietnam, said: “In Viet Nam, we are leading the way on ESG standards. I am delighted about how we have quickly and decisively acted to help others, especially during COVID-19.”

Studies by HSBC, Kantar Vietnam and Nielsen IQ Vietnam all say spending by young people will greatly affect Viet Nam’s consumption in 2022, forcing financial firms to adopt new technologies to adapt to the increasing competitive pressure brought by the fintech surge. — VNS