May 19th, 2021, FiinRatings announced that it has assigned its ‘BBB-‘ long-term issuer credit rating to VietCredit
Finance Joint Stock Company with outlook: Stable.
The ‘BBB-‘ long-term rating on VietCredit reflects the Company’s modest albeit growing market position in the consumer finance industry. This rating anouncement highlights some special numbers of VietCredit during 2018-2020 period such as: VietCredit has a rapid growth in their loan book with a CAGR of nearly 157%; VietCredit’s profitability is improving significantly after transition that is reflected through Return on Assets (ROA) improving to 0.8% in 2020 from the -2.6% in 2018, and Cost to Income Ratio (“CIR”) was declining over the last 3 years from 156% in 2018 to 48% in 2020,…
FiinRatings assess that VietCredit’s business position benefits from its unique and specialized unsecured consumer lending products that helps the Company owns a more compact business model compared to its peers.
Please kidnly read detail of the FiinRatings’s Rating Announcement here
The Annoucement is also communited on many newspaper, please read them at the links: