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Lotte to develop fintech in Vietnam after aquiring TechcomFinance

Lotte Card is going to focus on developing non-cash consumer finance and applying financial technology, commonly known as fintech or findata in Vietnam.

Techcombank expects to gain huge profit from the divestment in TechcomFinance to Korea-based Lotte Card

The divestment in TechcomFinance is expected to help the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) record an extraordinary profit of more than VND1.1 trillion (US$48.4 million) in the first and second quarter of this year.

The Korean chaebol acquires TechcomFinance

The acquisition of Techcombank's finance company allows Lotte Card to enter the booming consumer finance market in Vietnam.

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