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FE Credit has made a profit of 620 billion dong, breaking the circuit for 2 consecutive quarters of loss

According to information from Vietnam Prosperity Commercial Joint Stock Bank (FE Credit), consumer finance company FE Credit has returned to profit in the first quarter of 2022, with a profit of VND 620 billion.

Previously, FE Credit lost about 590 billion dong in the 3rd and 4th quarter of 2021, making the profit for the whole year of 2021 only 610 billion dong, lower than rival HD Saison.

FE Credit made a profit of 620 billion dong, breaking the circuit for 2 consecutive quarters of loss - Photo 1.

VPBank said that FE Credit disbursed VND 15,400 billion in the first quarter of 2022, equivalent to the same period last year. The number of active customers reached 4 million while the number of card customers decreased by 30% to 0.9 million.

FE Credit’s balance at the end of the period was VND 76,600 billion, up 1.6% compared to the fourth quarter of 2021 and setting a new record. Of these, 44% are existing customers, 36% are new customers and 21% are syndicated loans.

Total operating income in the period reached VND 3,900 billion, down 15% over the same period. FE Credit’s NIM also dropped to 20%, while last year was 26.9% and Q1/2020 was 30.1%.

FE Credit made a profit of 620 billion dong, breaking the circuit for 2 consecutive quarters of loss - Photo 2.

https://cafebiz.vn/fe-credit-co-lai-tro-lai-620-ty-dong-ngat-mach-2-quy-thua-lo-lien-tiep-20220506101441336.chn


Ha My

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