FE CREDIT maintains its market-leading position

Remaining steadfast in the mission as a bridge for formal consumer lending, FE CREDIT has brought financial inclusion to millions of underserved individuals across Vietnam. The company has not only endured various market challenges but also consistently held the leading position, reflected in multiple prestigious awards. These achievements demonstrate the company’s adaptability, effective strategies, and strong commitment to sustainable development in Vietnam’s consumer finance sector.

A decade of sustaining the consumer finance “crown”

Founded in 2010 as the consumer lending division of Vietnam Prosperity Joint Stock Commercial Bank (VPBank), FE CREDIT quickly became a trailblazer in the country’s modern consumer finance sector. In 2015, the company officially transitioned into an independent legal entity, marking the start of its journey to build a specialized financial institution with the goal of making consumer credit more formalized, transparent, and sustainable.

To become a market leader, FE CREDIT pursued a differentiated development strategy by targeting customer groups without collateral and lacking access to traditional banks, such as factory workers, small business owners, and informal laborers. With a “broad and deep” coverage strategy, the company not only tapped into niche markets that overlooked by traditional credit institutions, but also laid a solid foundation for long-term growth.

Starting with two wheeler loan products, FE CREDIT continuously expanded its portfolio to include personal loans, consumer durable loans, credit cards, and linked insurance. This diversification allowed the company to serve a wider range of customer segments while also improving its credit risk management.

Following a period of strong growth, the consumer finance market entered a challenging shakeout phase, driven by the impacts of the COVID-19 pandemic, tightened credit control policies, persistently high interest rates in 2022–2023, and changing consumer spending behaviors. Many companies scaled down or paused their operations. However, through a comprehensive restructuring strategy with support from two major financial institutions – VPBank and SMBC, FE CREDIT not only remained stable but also maintained its leading position.

This achievement was recognized when FE CREDIT was once again ranked No. 1 in the list of Most Reputable Finance Companies, announced on August 1, 2025, by Vietnam Report in collaboration with VietnamNet. The ranking is based on three comprehensive pillars: financial capacity, media reputation, and trust ratings from customers, experts, and partners.

In 2024, after two years of comprehensive restructuring, FE CREDIT recorded nearly VND 515 billion in pre-tax profit, marking a strong recovery. Entering the first half of 2025, the company continued to maintain growth momentum with nearly VND 270 billion in pre-tax profit, marking its fifth consecutive profitable quarter.

FE CREDIT also took the lead in building a distribution network with over 13,000 points of sale across the country. Its total assets surpassed VND 66.4 trillion, reinforcing its top position not only in terms of scale but also in asset quality, operational efficiency, and capital strength.

Diversification, digitalization, and responsible development

FE CREDIT’s success is not only reflected in market share and total assets but also in its ability to continuously adapt to market demands, innovate its product portfolio, adopt technology, and stay committed to sustainable development. The three pillars, which include product diversification, customer journey digitalization, and responsible growth, serve as the core foundations that drive the company’s strength today and into the future.

In response to rapid market changes, FE CREDIT proactively expanded its product portfolio to reduce dependence on personal loans, which are considered high-risk.

The company shifted toward lower-risk segments such as two wheeler loans, consumer durable loans, credit cards and linked insurance. These products better meet the actual spending needs of consumers while helping the company manage credit risk more effectively, especially as consumer behavior increasingly values convenience, flexibility, and transparency.

FE CREDIT has invested significantly in digitalization to serve diverse customer groups, especially factory workers, small business owners, informal laborers, and residents in remote areas who are often underserved by traditional financial institutions. The FE ONLINE 2.0 mobile app marked a major leap, enabling customers to access a full range of financial services, from flexible loans, credit card applications to loan tracking and repayment schedules, all through just a few simple steps on their phones.

The financial multifunction app, FE ONLINE 2.0 offers smoother experiences and more convenient services to diverse customer groups. Photo: FE CREDIT.

The FE ONLINE 2.0 mobile app and bold digitalization strategy, also enables the company to capture long-term consumer trends, particularly as Gen Z – a generation that frequently spends and makes payments through digital platforms, continues to grow in size, purchasing power, and influence in the market.

By integrating data, technology, and market understanding, FE CREDIT is also able to personalize its products by customer segments, enhancing outreach effectiveness and fostering long-term relationships.

Alongside business development, FE CREDIT also embraces its role as a responsible financial institution. With the aim of promoting financial knowledge and improving community awareness, the company has launched the financial education media campaign “Finance Explorer”. This is not merely a CSR activity, but a clear demonstration of FE CREDIT’s deep commitment to improving personal financial capability in Vietnam, thereby contributing to a more transparent, inclusive, and sustainable credit ecosystem for society.