Consumer finance lending needs a separate law

Monday, Jul 08, 2024

Experts have proposed the Government issue a separate law for the consumer finance lending, entitled the Financial Consumer Protection Law, to help the sector develop healthily and sustainably.

Foreign investors expand consumer finance business in Viet Nam

Monday, Mar 27, 2023

Large foreign financial groups have actively penetrated the Vietnamese consumer finance market, which has significantly helped accelerate the digitalisation of the country’s financial services.

Legal framework must improve in fight against usury

Tuesday, Oct 25, 2022

Usury is the practice of lending money at unreasonably high rates of interest. 

"Fly first-Pay later" by MOVI and Vietjet wins technology award

Tuesday, Jun 14, 2022

“Fly first - Pay later” is an 100 per cent online financial product that first appeared on the Vietnamese market, disbursed within three minutes with a limit of VND10 million to buy Vietjet air tickets and flexible installment terms for up...

Central bank promotes licensed consumer finance

Friday, Dec 17, 2021

The State Bank of Vietnam (SBV) will enhance inspections to discover illegal finance companies and protect the interests of consumers and licensed finance companies, according to SBV’s Governor Nguyen Thi Hong.

Consumer lending to grow again in 2021

Sunday, Mar 28, 2021

The consumer finance market would have a chance to grow again in 2021 thanks to the economic recovery, experts forecast.

Consumer finance companies remain attractive acquisition targets

Monday, Dec 14, 2020

A spokesperson for FE Credit Consumer Finance Company said the Covid-19 pandemic had somewhat affected the company’s business but the price of its stock would not change thanks to its advantages and the market’s great potential.

Consumer finance firm FE Credit turns joint-stock

Friday, Feb 21, 2020

The State Bank of Vietnam (SBV) has approved consumer finance firm FE Credit to change its legal status from limited liability to joint stock.

New consumer finance curbs to challenge business models: Fitch Ratings

Friday, Feb 07, 2020

The State Bank of Viet Nam’s new regulatory limits on unsecured consumer-finance personal loans will pressure the business models of more-exposed companies over the next few years, according to Fitch Ratings.

Central bank approves capital hike for finance company HD Saison

Monday, Jan 13, 2020

The State Bank of Việt Nam (SBV) has approved consumer finance company HD Saison to increase charter capital to VNĐ2 trillion (US$85.84 million) from VNĐ1.4 trillion.

Credit institutions boost consumer lending before Tet

Friday, Jan 03, 2020

The competition to gain a larger share in the consumer finance market is heating up as rising capital demand before Lunar New Year is an opportunity for both banks and finance companies to boost the business segment.

VCCI suggests central bank reconsider cash loan proposals

Wednesday, Apr 24, 2019

The Viet Nam Chamber of Commerce and Industry (VCCI) suggests the State Bank of Viet Nam reconsider a proposal on limiting unsecured personal loans in cash by consumer finance companies.

Central bank sets to tighten unsecured consumer finance

Tuesday, Apr 09, 2019

Regulations on personal unsecured lending by consumer finance companies will be tightened if a draft circular of the State Bank of Viet Nam (SBV) takes effect. 

A Bright Future for Viet Nam’s Consumer Finance Market

Tuesday, Dec 18, 2018

Viet Nam News speaks with Kim Jong Geuk, General Director of Lotte Finance Vietnam Co Ltd (Lotte Finance), about the prospect of the consumer finance business in Viet Nam and the company’s business strategy in the Industry 4.0 era.

FE Credit raises charter capital to $313m

Wednesday, Oct 03, 2018

The charter capital of consumer finance company FE Credit, which accounts for some 50 per cent of Viet Nam’s consumer finance market share, surged sharply to nearly VND7.33 trillion (US$313 million) from the previous VND4.47 trillion.