Home Credit Group / Operations /

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Vietnam

Home Credit operations in Vietnam

In addition to the Chinese market, Home Credit Group has expanded its operations in one of the most exciting emerging markets in South East Asia - Vietnam.

In April 2008, PPF Group N.V., the parent company of Home Credit Group, 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.

PPF Vietnam Finance Company Ltd. (“PPF Vietnam”) provides its consumer finance services to Vietnamese customers under the Home Credit brand name while 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 on motorbikes and consumer durable goods through retailer networks and offering cash loans. The company intends to provide broader range of consumer finance products and quickly expand to other provinces with the aim to establish its nation-wide presence.

PPF Vietnam serves almost almost 42,000 Vietnamese borrowers in 500 points-of-sale established with some 300 local partners in 19 provinces and cities across Vietnam (as of 31 December 2009).

PPF Vietnam Finance and Postal Service of Vietnam have already signed an agreement on collaboration making it possible for clients to cash their credits in 2,500 post offices across the country - this being a complementary competition advantage.

Country Manager

Ajay Bandhu

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