In addition to the Chinese market, Home Credit Asia has expanded its operations in one of the most exciting emerging markets in South East Asia - Vietnam. Home Credit established its presence in Vietnam in 2004 when PPF Group N.V., the parent company of HC Asia N.V., opened a representative office in Ho Chi Minh City. In April 2008, PPF Group N.V., was successful in obtaining a license to establish a 100% foreign-owned non-banking financial company in Vietnam, PPF Vietnam Finance Company Ltd., which started its fully-licensed operation in May 2009. As of 31 December 2012 Home Credit has attracted 647 thousand Vietnamese clients.
PPF Vietnam Finance Company Ltd., (“PPF Vietnam”) provides its consumer finance services to Vietnamese customers under the Home Credit brand name and has adopted the Home Credit's established business model. PPF Vietnam through the Home Credit brand brings to Vietnam its considerable experience in providing consumer finance products and services in a number of countries and other emerging markets.
PPF Vietnam is currently focusing on providing POS loans for motorbikes and consumer durable goods through cash loans. The company has quickly established its nation-wide presence and intends to provide a broader range of consumer finance products.
PPF Vietnam has 2,372 employees that serve 183 thousand active clients. The products are distributed through 1,478 points-of-sale established with hundreds of local partners across Vietnam (as of 31 December 2012).
PPF Vietnam Finance and the Postal Service of Vietnam have already signed an agreement of collaboration making it possible for clients to repay their credit in some 2,000 post offices across the country - this being a complementary competitive advantage.
PPF Vietnam Finance Company Limited
(operating under the Home Credit brand)
194 Golden Building
473 Dien Bien Phu
Ward 25, Binh Thanh District
Ho Chi Minh City