Mcredit stumbles as rivals surge ahead in consumer finance boom
While major consumer finance firms in Vietnam have reported strong growth, Mcredit posted an unexpected 87 per cent drop in profit for the first half of 2024.
While major consumer finance firms in Vietnam have reported strong growth, Mcredit posted an unexpected 87 per cent drop in profit for the first half of 2024.
Launching a business accelerator programme at this point in time seems to be the right move for FE Credit as it seeks to reach deeper into remote and far away areas in Vietnam. How talented fintechs can help the consumer finance company elevate further is now explained by Basker Rangachari, Chief Marketing Officer of FE Credit.
Customers are generally satisfied with their consumer finance (CF) experience, with over 80 per cent of respondents would apply for CF products again and would recommend to friends and family, according to a survey by FinnGroup.
The pace of Vietnam consumer finance growth has currently shown clear signs of slowing down.
Lotte Card is going to focus on developing non-cash consumer finance and applying financial technology, commonly known as fintech or findata in Vietnam.
MB has just announced a completion of selling 49 per cent stake in its consumer finance arm Mcredit Finance Company to Japan’s Shinsei Bank.
The acquisition of Techcombank's finance company allows Lotte Card to enter the booming consumer finance market in Vietnam.
Viet Nam's consumer credit boom has brought about huge profits but has also forced lenders to write off trillions dong of debt.