Diversifying local consumer finance
For the first time in a decade, Vietnamâs consumer finance market saw a single-digit growth rate
FE Credit, the biggest consumer finance player in Vietnam and a subsidiary of VPBank, is said to be preparing for its initial public offering (IPO) in the third quarter of 2021.
VPBankâs Board of Directors forecasts that a successful IPO could triple FE Creditâs share price compared to the book value after the equitisation, according to brokerage SSI.
Currently, the Vietnamese market boasts 16 consumer finance companies, of which six are subsidiaries of major local lenders, including HD Saison of HDBank, SHB Finance of SHB, MCredit of MB, and Post and Telecommunication Finance Co., Ltd. (PTF) of SeABank.