On January 23, 2018 – FE CREDIT announced that it has completed a loan procedure with Lion Asia I (RB) Limited (“Lion Asia”). This US$ 50 million loan has provided FE CREDIT with additional capital to continue to grow its business as the market leader in Vietnam’s consumer finance industry and to broaden its ability to meet the financial demands of millions of Vietnamese people.
Lion Asia acted as Facility Agent for this US$ 50 million loan facility. Lion Asia is an entity established in the British Virgin Islands and 100% owned by the Lending Ark Asia Secured Private Debt Fund (“the Fund”). The Fund has been established by Lending Ark Asia Secured Private Debt Holdings Limited (“Lending Ark Asia”), a market leader in complex, innovative secured private credit lending across the Asia Pacific region.
As one of the few pioneers in the consumer finance industry in Vietnam, after 7 years, FE CREDIT has established a solid foundation to become the market leader with business practices that compare favorably with the best in the world. Currently, FE CREDIT holds nearly 50% of the market share in the consumer finance industry in Vietnam.
Mr. Kalidas Ghose, Vice Chairman and CEO of FE CREDIT, said: “This cooperation continues to re-affirm our brand value and the operational excellence of our business in meeting the highest level of international standards. This loan facilitates the growth of our business in future by providing solutions to the needs of millions of people across Vietnam, who are not currently served well by banks, with better financial products and services. Also, this cooperation demonstrates the trust that international partners have in the sustainable vision of FE CREDIT and the commitment of its shareholders as well as management going forward.”
Mr. Gregory Park, Managing Director – Fund Head, representative of Lion Asia, said: “It is a great honor to announce the successful completion of our US$ 50 million facility for FE CREDIT. With the tremendous support of State Bank of Vietnam and hard work of FE CREDIT, the entire working team were able to swiftly complete this cooperation. We believe that with its strong management team serving the expanding consumer finance market of Vietnam’s 95 million citizens, FE CREDIT makes its business an example of a great success in the global financial markets.”
About FE CREDIT
Founded as Consumer Finance Division of Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), FE CREDIT successfully transferred all consumer finance operations to the new independent company: VPBank Finance Company Limited (its brand name: FE CREDIT) in February 2015.
Pioneering in consumer finance, FE CREDIT has established a solid foundation to become the market leader of the unsecured consumer loans market. FE CREDIT currently provides consumer lending services such as personal loans, two-wheeler loans, consumer durable loans and credit cards. FE CREDIT has served almost 7 million customers, co-operating with 7,000 partners across 10,000 Points of Sale (POS) nationwide.
Seize the sound win-win growth opportunities with FE CREDIT.
About Lion Asia I (RB) Limited
Lion Asia I (RB) Limited is an entity established in the British Virgin Islands and 100% owned by the Lending Ark Asia Secured Private Debt Fund. The Fund has been established by Lending Ark Asia Secured Private Debt Holdings Limited (“Lending Ark Asia”), a market leader in complex, innovative secured private credit lending across the Asia Pacific region. Lending Ark Asia is a joint venture between Lending Ark Capital Limited’s principals and CLSA Capital Partners.