Topic: 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.