FE CREDIT helps workers access financing for essential daily needs. — Photo courtesy of FE CREDIT

HCM CITY — A decade of shaping consumer finance

Việt Nam’s consumer lending balance now stands at about VNĐ2.8 quadrillion (US$122 billion), or 20 per cent of the total outstanding national credit. Yet, according to the United Nations Capital Development Fund, more than 34 per cent of adults remain excluded from financial services – one of the highest rates in Southeast Asia.

Many workers, small traders, and informal labourers struggle to borrow from banks due to a lack of collateral, proof of income, or credit history.

In this context, FE CREDIT and the consumer finance sector act as a “bridge,” connecting these customers with formal and transparent credit channels that improve quality of life and reduce dependence on informal “black credit”.

Founded in 2010, the company was among the first in consumer finance. With effective strategies and tailored products, it quickly took the lead, at times holding over 50 per cent of market share and contributing up to 40 per cent of VPBank’s consolidated profits.

Beyond figures, it has delivered practical benefits: loans to repair a house, purchase a motorbike for work, pay school fees, or cover medical treatment. This seemingly small but crucial support allows workers to focus on their livelihoods while fostering social stability.

Since FE CREDIT’s founding, outstanding consumer loans have consistently grown faster than the overall credit market, underlining the sector’s role in boosting GDP growth and improving livelihoods.

In the first half of 2025 alone, the company’s disbursement volume rose 19 per cent year-on-year, helping customers manage essential living and work needs.

Coupled with supportive policies such as stable interest rates and reduced VAT, consumer finance has become an important driver of domestic consumption.

Dedicated to realising millions of dreams

Post-pandemic shifts in consumer behaviour and rapid technology adoption have presented both opportunities and challenges.

In response, FE CREDIT has undertaken a strategic transformation, prioritising professionalism, transparency, and sustainability while enhancing service quality and making formal credit more accessible to customers, supporting their aspirations.

Customer-centricity remains central to this strategy. The company continuously engages with customers to ensure promotions, product updates, and services reach them effectively, while feedback guides further product innovation.

From personal loans and two-wheeler loans to linked insurance products, it offers flexible solutions for diverse needs, accompanying customers as they pursue their dreams.

Strong omnichannel connections further strengthen these relationships. Customers can interact through the corporate website, Zalo, hotline, Facebook fanpage, representative offices, and a nationwide partner network, ensuring quick and convenient access to financial services.

The financial multifunction app — FE ONLINE 2.0 — enhances this ecosystem, providing product information and features ranging from loan applications and credit card issuance to digital banking. Meanwhile, AI-powered chatbots offer 24/7 support, creating seamless service experiences.

Today, FE CREDIT operates more than 13,000 points of sale nationwide, serving tens of millions of customers.

Beyond financing, the company is committed to raising financial literacy. Its “Finance Explorer” campaign shares practical education drawn from real-life cases, helping people plan spending, manage debt responsibly, understand their rights and obligations, and avoid risks from informal lending.

Through its wide-reaching network, digital innovations, and educational efforts, it has not only met the essential needs of millions but also fostered a more inclusive and sustainable financial ecosystem.

Over the past 15 years, its pioneering role has earned customer trust, contributing significantly to the country’s goal of building a transparent and responsible consumer finance sector that supports both individuals and the economy.-VNS