Japan’s Sumitomo Mitsui Finance Group acquires 49% stake in FE Credit VPBank on Wednesday signed an agreement to sell 49 per cent stake of its FE Credit to Japan’s Sumitomo Mitsui Finance Group (SMFG) in a transaction that value the non-bank lender at US$2.8 billion.

Pandemic is changing landscape of consumer credit: experts The COVID-19 pandemic was signficantly changing the landscape of the consumer credit market as consumers tended to tighten their budget and pay more attention to healthcare, environment and lifestyle as well as switching to online shopping.

Welfare programmes help city workers during Tết

Workers at Linh Trung 1 Export Processing Zone in the HCM City's Thủ Đức District can now shop at ERA Mart welfare supermarket and food stores that have opened in the zone.

Corporate bond market forecast to be robust this year

The corporate bond market of Việt Nam is expected to be robust this year as the Government has issued regulations to untie the market but still aimed to ensure the transparency and healthy market development.

P2P lending needs better management to avoid black credit The Ministry of Planning and Investment (MPI) has warned about the increasing use of foreign peer-to-peer (P2P) lending in Việt Nam with potential risks of black credit.

Banks to introduce domestic credit chip cards to promote cashless payments The National Payment Corporation of Việt Nam (Napas) last week said it would work with seven banks to introduce domestic credit chip cards with unified standards to limit cash payments and tackle black credit.

Development of consumer finance: vital to fight black credit In recent years, the SBV and credit institutions in localities have been co-coordinating with the Ministry of Public Security and local authorities in implementing drastic measures to limit black credit.

PM hails performance of public security force Prime Minister Nguyễn Xuân Phúc has hailed the public security force for its achievements in the past year.

HCM City, six provinces sign agreement on fighting crime

A co-operation agreement was signed last week between the police departments of HCM City and six southern provinces to increase efficiency in crime prevention and control in adjacent areas.

Banks urged to diversify loan products, aiming to keep people away from black credit Commercial banks should diversify their loan products, lower interest rates and simplify procedures to improve accessibility to official credit channels in an effort to keep people away from illegal sources, Deputy Governor of the State Bank of Việt Nam Đào Minh Tú said.