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FE Credit experiences 16.3 per cent drop in pre-tax profit as NPLs increase in 2020


FE Credit experiences 16.3 per cent drop in pre-tax profit as NPLs increase in 2020
14:01 | 06/02/2021
FE Credit – the consumer finance arm of VPBank – is allegedly preparing for an IPO
In 2020, FE Credit s pre-tax profit is estimated to reach VND3.713 trillion ($161.43 million), down 16.3 per cent on-year, according to the latest report of VPBank – the firm s parent bank.
Meanwhile, its non-performing loans ratio increased from 6 per cent at the end of 2019 to 6.6 per cent as of December 2020. The consumer finance company contributed around 28.5 per cent to the bank’s consolidated pre-tax profit.
In the past year, FE Credit s disbursement value reached VND63 trillion ($2.74 billion), down 14 per cent on-year. ....

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Diversifying local consumer finance


Diversifying local consumer finance
For the first time in a decade, Vietnam’s 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.
VPBank’s Board of Directors forecasts that a successful IPO could triple FE Credit’s 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. ....

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