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The mega-deal between Sumitomo Mitsui Financial Group and FE Credit is expected to rewrite the consumer finance landscape in Vietnam. Masataka âSamâ Yoshida, head of the Cross-border Division of RECOF Corporation and CEO of RECOF Vietnam Co., Ltd., talked with VIRâs Luu Bui about the appetite of Japanese investors for the market. How would you assess the potential of Vietnamâs consumer finance market and why is the sector attractive to overseas investors? Masataka âSamâ Yoshida, head of the Cross-border Division of RECOF Corporation and CEO of RECOF Vietnam Co., Ltd Consumer finance in Vietnam has been increasing strongly since around 2013 on the back of rising affluence amid strong economic growth. However, consumer finance remains relatively new to the majority of Vietnamese people, and like many emerging markets, the country presents major growth opportunities for modern consumer finance. ....
Wesley O. Tossett | News, Sports, Jobs - Minot Daily News minotdailynews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from minotdailynews.com Daily Mail and Mail on Sunday newspapers.
Consumer finance retains attractiveness Consumer finance groups are attempting to diversify funding sources According to a report by brokerage SSI Research, HD Saison - the consumer finance arm of HDBank and Japanâs Credit Saison - will enjoy an increase of 15 per cent on-year in its profit for 2021, reaching VND1.15 trillion ($50 million). Although there are still areas of concern associated with new cash loans disbursed in 2020, HD Saisonâs board also expected that this year, loans to buy motorbikes and home appliances will rise, especially when customer incomes increase along with economic recovery. The report also showed that cash lending activities of HD Saison has increased strongly in the past year (up 47.8 per cent). SSI Research believed that this is a remarkable point because this is a segment that often has a higher non-performing loans ratio than motorcycles and home appliances loans. ....
Fundraising on the up in consumer finance 12:07 | 02/03/2021 Consumer finance companies are taking different approaches to raise cash and gain a bigger slice of the landscape. Black credits, such as from loan sharks, could be reduced significantly by promoting consumer finance, photo Le Toan SSI Research has cited information from VPBankâs Board of Management that the due diligence process for FE Credit sale has been conducted. FE Credit, Vietnamâs largest consumer finance firm, is in negotiation with its potential partners, though the discussion progress is somewhat interrupted due to the pandemic. However, VPBank expects the negotiation to be completed in the second quarter of 2021. If the two sides cannot reach a mutual agreement, VPBank would consider an initial public offering (IPO) for FE Credit by the end of this year. ....