The State Bank of Việt Nam has approved an increase of Mcredit’s charter capital from VND800 billion to VND1,300 billion.
On 1st November 2021, the State Bank of Việt Nam issued Decision No. 1707/QĐ-NHNN on amending and supplementing some contents of the Establishment and Operation License of MB Shinsei Finance Limited Liability Company (Mcredit). Accordingly, Mcredit’s charter capital was increased from VND800 billion to VND1,300 billion from the reserve fund for charter capital.
Mcredit is currently accompanied by two strategic owners, who are both leading financial institutions in their countries. They are Shinsei Bank, Limited (Japan) and Military Commercial Joint Stock Bank (Việt Nam). The increase in charter capital does not impact Mcredit’s ownership structure.
Under Mcredit’s plan, the increased capital will be mainly used to enhance capacities in the coming time, while the remaining will be for supplementing working capital that serves business activities. According to Mr Le Quoc Ninh, Mcredit’s CEO: “The charter capital increase will firmly strengthen Mcredit’s position as a leading organisation in Việt Nam's consumer finance sector. In addition, the increased capital will essentially contribute to realising the 2022-2026 Strategy which is under active preparation by Mcredit, making us a consumer finance company with fast, strong, effective and sustainable growth”.
Mr. Le Quoc Ninh – Mcredit’s CEO
In the first nine months of 2021, Mcredit recorded revenue of VND3,190 billion, an increase of 13 per cent year-on-year. Its profit before tax reached VND432 billion after nine months, increasing 105 per cent. The COVID-19 pandemic impacted the whole Vietnamese economy, but Mcredit’s positive financial results were achieved through flexible business solutions, customer support and aggressive digital transformation.
Recently, Mcredit was also awarded the 'Most Innovative Consumer Finance Company – Vietnam 2021' by The Global Economics – UK, via its annual survey which aims to recognise and honor prestigious organisations around the world.
For more information, please contact Mcredit Customer Service Department: