FE CREDIT BREAKS THE RECORD FOR THE MOST WINS IN CONSUMER FINANCE WITH OVER 10 PRESTIGIOUS AWARDS IN 2018

Overcoming a challenging year with many fluctuations in consumer finance industry, FE CREDIT has not only continued to maintain its leadership position in the market, but also constantly established new standards in innovation and Fintech application to prove that it not only adapts but proactively creates revolutionary changes for the market.

Annual ranking of Vietnam’s 500 largest enterprises (VNR500) in 2018 conducted by Vietnam Report and published by VietNamNet, has just announced that FE CREDIT is recognized as one of the Top 10 largest private company in Finance-Banking-Securities sector, and it is also the only finance company within the Top 100 largest enterprises in Vietnam in all sector.

This is the 12th year in a row VNR500 ranking has been researched and published based on multiple criteria including the enterprises’ actual revenues, total assets, total labour force, profit after tax, ROA and ROE, as well as their corporate prestige.

Vietnam Report’s ranking for FE CREDIT

  VNR500 Ranking Profit500 Ranking
All sector 97 29
Private sector 38 11
Banking – CF – Securities sector 14 8
Private in Banking – CF – Securities sector 9 4

Mr. Basker Rangachari, FE CREDIT’s Marketing Director, honored to receive the VNR500 award

In addition to its outstanding achievements in business results in 2018, FE CREDIT has received more than 10 awards from prestigious domestic and foreign organizations and broke the record for the most wins in consumer finance in the history of Vietnam banking industry.

This number of awards has shown the recognition of international organizations, as well as local Government agencies and independent surveys, towards the quality of services and the contribution of FE CREDIT to the consumer finance industry.

List of awards that FE CREDIT achieved in 2018:

  1. Top 10 Vietnam’s largest private enterprises in Banking, Finance and Securities (VNR 500)
  2. Ranked 11th in the Top 500 Most Profitable Private Enterprises in Vietnam (Profit 500)
  3. “Consumer Finance Product Of The Year” awarded by The Asian Banker
  4. “Southeast Asia’s Best Consumer Finance Company” voted by Global Business Outlook
  5. “Asia’s Most Innovative Consumer Finance Brand” awarded by Global Brands Magazine
  6. “Top 10 Asia-Pacific Outstanding Brands” awarded by Asia-Pacific Economic Review
  7. “Top 50 Most Attractive Employer Brand” according to Vietnam’s best places to work survey studied by Anphabe
  8. “Top 100 Vietnam’s Biggest Tax Payers” awarded by the General Department of Taxation

FE CREDIT’s credit card product also scored a hat-trick of 3 awards at the Card & Electronic Payments International Asia Awards 2018:

  1. “Best Card Design”
  2. “Best Technology Implementation – Front End”
  3. “Best New Product, Service or Innovation Launch”

Further, in September 2018, Moody’s announced the corporate credit rating (CFR) of B2 for FE CREDIT. This rating level is equivalent to the rating level of several leading domestic and foreign financial institutions in Vietnam.

It can be seen that these global recognitions reiterate the FE CREDIT’s outstanding achievements in 2018. Whilst its parent, VPBank’s 2018 annual results has been officially released, the largest consumer finance firm in terms of market share in Vietnam has revealed its stellar performance. While almost all of its competitors witnessed a slowdown, FE CREDIT still scored almost 30 per cent increase in accounts and 23 per cent swell in new customers year-on-year.

FE CREDIT’s awards in innovation also reflected its excellence after many years of pioneering in the application of the most advanced financial technologies into its whole business processes.

With 3 strong awards, FE CREDIT’s credit cards completely convinced the judges at the Cards and Electronic Payments International (CEPI) Asia Awards, as it provides optimal solutions for un-banked customers who do not have much experience in financial management. FE CREDIT also deployed a Card Mobile Application to help its customers manage their account more conveniently, providing unique benefits servicing their daily needs.

FE CREDIT’s Consumer Durables Loan also received several positive feedback from customers thanks to its fast and easy features. Asian Banker’s award to FE CREDIT of “Consumer Finance Product Of The Year 2018” recognises that FE CREDIT’s new digital lending process has enables customers to purchase the desired products online and get an instant loan approval, without the need to go to a physical outlet or point of sale (POS), and have the goods to be delivered to their doorstep by the next day.

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