Germany bank offers $100m loan to VN firm

HÀ NỘI — VPBank Finance Company Limited (FE Credit) and Germany’s Deutsche Bank signed a US$100 million secured loan in HCM City on Thursday.

Deutsche Bank AG Singapore will act as the credit institution providing this loan to FE Credit.

According to FE Credit, this loan will contribute to FE Credit’s financial strength, helping the company continue to develop its business operations and consolidate its market leadership in consumer finance sector, as well as become a reliable financial support for millions Vietnamese consumers.

Kalidas Ghose, CEO and vice chairman of FE Credit, said the cooperation with Deutsche Bank continues to confirm that the results of FE Credit’s business model have met the requirements of strict international standards. Meanwhile, the loan also represents the trust of partners in the development direction and sustainable growth of FE Credit.

This loan will contribute to FE Credit’s long-term growth plan in the future, thereby helping the company bring the best products and services in terms of price, interest rate and service quality, Kalidas added.

Highlighting the long-term commitment with its partners in Việt Nam, Sreenivasan Iyer, managing director and head of Corporate Finance for South East Asia at Deutsche Bank, said this is the largest loan of Deutsche Bank in Việt Nam’s consumer finance sector to date. 

FE Credit is currently one of the leading companies in Việt Nam’s consumer finance, providing consumer loan services with cash loans and loans for machine purchase. So far, FE Credit has served nearly seven million customers and co-operated with some 5,500 partners and nearly 9,000 selling points nationwide. — LV