Tag: Financial companies

Fitch Ratings has put Mcredit’s Issuer Default Rating (IDR) at “B” in its long-term and short-term ratings, with an outlook of “Stable”, which is its highest rating for financial companies in Vietnam. It said Mcredit’s rating will continue to be upgraded in the future if current stable operations are maintained.

The Vietnam Banks Association held a launch ceremony and a first conference of the Consumer Finance Club on July 14. A representative from the Shinhan Finance Company told the gathering that finance companies need a common database to implement fraud prevention measures.

Financial companies are looking for ways to restructure and strengthen their capacity and aim to sell part of their capital to major foreign financial groups. Foreign investors, meanwhile, are taking strategic steps to anticipate a consumer credit boom in Vietnam.