FE Credit Finance company has released the business results in 2019 with positive growth in most key business indicators. Specifically, the total disbursement was 72.5 trillion dong, up by 19 percent compared to 2018. The outstanding credit was about 60.594 trillion dong, exceeding 13.7%.
FE Credit’s total mobilisation from businesses as of late 2019 was 70.646 trillion dong, 17.4 percent higher than the same period of last year. In which, 43 percent of the mobilisation came from the issuance of valuable papers, 23 percent of that came from foreign borrowings and 18 percent of that came from the company’s capital and funds.
The Net Interest Margin (NIM) of FE Credit in 2019 continued to grow by 31.3%, higher than the 28.4 percent recorded in the previous year. The company recorded a total operating income of 18.152 trillion dong in four quarters of 2019, up by 29 percent over 2018.
Meanwhile, the Cost to Income Ratio (CIR) in 2019 of FE Credit was 31.3%, higher than the 32.1 percent in 2018. The company’s pre-tax profit in 2019 was 4.488 trillion dong, up by 8.2 percent compared to 2018. With this result, the company significantly contributed 43.4 percent of VPBank’s profits.
According to FE Credit’s representative, the positive figures in the past year showed that the company has the ability to manage growth very well and efficiently. This also comes from the right business strategy that the company set out from the beginning.
“By focusing on the widespread application of technology in business operations, FE Credit continues to achieve great success although the consumer lending market is entering a period of slowdown, said the company’s representative.”
