Prudential Vietnam Finance Company Ltd (Prudential Finance) has been conferred The State Bank of Viet Nam Governor’s Award for its outstanding contributions to the banking industry in 2014 and 2015.

In recent years the consumer finance sector has seen robust growth.

The central bank recognised that Prudential Finance has achieved uninterrupted growth and made innovations related to crisis management, infrastructure development and personnel development, Nguyen Dong Tien, deputy governor of the SBV, said.

A report by Stoxplus said for the past several years the company has maintained credit growth, enhanced its financial efficiency, sustained market share and become one of the largest players in the consumer finance market.

Since 2013 the company has expanded with the opening of its Da Nang branch in December 2015 besides services introduction points in more than 10 provinces and cities.

Its customer base has also increased steadily. After serving its first customer in 2007, within just two years the company accrued 50,000 more. By October 2016 the number had risen to 300,000.

Sanjay Chakrabarty, CEO of Prudential Finance, said: “As a finance company, we thoroughly understand our responsibility, and together with other trusted institutions, we continue to contribute in developing a strong and sustainable finance-banking system in the Vietnamese market. The SBV Governor’s award is a recognition of our efforts.”

Prudential was the first fully foreign-owned consumer finance company in Viet Nam when it entered in October 2007. — VNS