A decade of sustaining the consumer finance “crown”

Founded in 2010 as the consumer lending division of Vietnam Prosperity Joint Stock Commercial Bank (VPBank), FE CREDIT quickly became a pioneer in Việt Nam’s modern consumer finance landscape.

In 2015, it transitioned into an independent legal entity, with the goal of making consumer credit more formalised, transparent, and sustainable.

To lead the market, FE CREDIT pursued a distinctive strategy targeting underserved groups without collateral or access to traditional banks, such as factory workers, small traders, and informal labourers.

With a “broad and deep” market penetration approach, the company captured overlooked segments and laid a solid foundation for growth.

Starting with two-wheeler loans, it steadily diversified into personal loans, consumer durable loans, credit cards, and linked insurance. This helped it serve wider customer segments and manage credit risk more effectively.

Despite a challenging period for the consumer finance market – driven by COVID-19, stricter credit controls, high interest rates, and shifting consumer behaviour – FE CREDIT remained resilient.

Backed by a comprehensive restructuring strategy and support from VPBank and Japan’s SMBC, the company retained its market-leading position.

Its efforts were recognised when FE CREDIT was ranked No. 1 in the 2025 Most Reputable Finance Companies by Vietnam Report and VietnamNet, based on financial capacity, media reputation, and customer trust.

After two years of restructuring, the company posted nearly VND515 billion in pre-tax profit in 2024. The momentum continued into 2025 with nearly VND270 billion in pre-tax profit in the first half, marking five consecutive profitable quarters.

It also leads in distribution network scale with over 13,000 points of sale nationwide. Its total assets exceed VND66.4 trillion, highlighting its top position in scale, asset quality, and capital strength.

FE CREDIT representative receives the 2025 Most Reputable Finance Company award. Photo Courtesy of FE CREDIT

Diversification, digitalisation, responsible development

FE CREDIT’s success lies not only in market share and scale, but also in its adaptability, innovation, and commitment to sustainable growth.

Its three strategic pillars – product diversification, digital customer journeys, and responsible development – continue to drive its long-term resilience.

In response to evolving market conditions, the company proactively reduced reliance on high-risk personal loans, shifting to lower-risk products like two wheeler loans, consumer durable loans, credit cards, and linked insurance.

These better align with actual consumer needs while helping manage credit risk.

Digital transformation is also a key focus. To serve a diverse customer base, especially in underserved and remote areas, the company invested heavily in technology.

The launch of its FE ONLINE 2.0 mobile app marked a major milestone, enabling users to apply for loans, manage credit cards, and track repayments through a few simple taps.

The financial multifunction app FE ONLINE 2.0 also reflects the company’s long-term digital vision, particularly in capturing the preferences of Gen Z – a digitally native generation with growing influence and purchasing power.

By integrating data, tech, and market insights, FE CREDIT personalises products for different segments, improving outreach and customer loyalty.

Beyond business, the company embraces its role as a responsible financial institution. Through its “Finance Explorer” media campaign, the company promotes financial literacy and raises community awareness.

This initiative goes beyond CSR – it reinforces the company’s commitment to strengthening financial capabilities across society and fostering a more transparent and inclusive credit ecosystem.