Founded as the Consumer Finance Division of VPBank, VPB FC is currently a wholly-owned subsidiary of VPBank under the brand name FE Credit. With over 20,000 business points and branches, FE Credit provides diversified unsecured loan products including cash; household goods at distribution centers of electronic products, mobile phones; motorbikes, and credit card loans to middle and low-income customer segments. The company also uses technology to reach customers through $ NAP, FE CREDIT, $HIELD apps. On 27 Apr 2021, the company increased its charter capital to VND 10,928 billion. The day after, on 28 Apr 2021, VPBank - the subject's parent company - signed an agreement with Sumitomo Mitsui Financial Group (SMBC) to sell 49% of charter capital at VPbank Finance Company Limited for SMBC Consumer Finance (SMBCCF) – a wholly-owned subsidiary of SMBC. In this deal, FE Credit is valued at USD 2.8 billion. This is a higher valuation than many mid-range banks in Vietnam such as VIB, HDBank, SHB, OCB...FE Credit is currently leading the consumer finance market with nearly 50% market share. Through this transaction, FE Credit will have the opportunity to receive support in capital, governance capacity, experience in the field of consumer finance in Asia from SMBC Group, especially from SMBCCF – a leading consumer finance company in the Japanese market.VPBank recently announced the business results of FE Credit in the second quarter of 2021. Specifically, the number of customers has skyrocketed to 5.5 million. However, the number of card customers decreased from 1 million to only 600,000 customers. FE Credit has reached 12 million customers and holds 46 million customer data. The total value of FE Credit's customer loans reached VND 61.3 trillion, down more than 7% in Q2 but still up 1.8% y/y. Accordingly, FE Credit's profit is about VND 400 billion in the second quarter of 2021, down about 50% compared to the first quarter of 2021. Compared to the same period last year, FE Credit's profit decreased by about 73%.
Headquarters
2nd Floor, Ree Tower Building, No. 9, Doan Van Bo Street, Ward 13
Ho Chi Minh municipality; South Eastern Vietnam;
Postal Code: 70000-74000
Contact Details: Purchase the Vpbank Smbc Finance Company Limited report to view the information.
Website: http://www.fecredit.com.vn
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