15:04 | 27/11/2017 Finance - Banking
The VPBank Finance Company Limited (FE CREDIT) and Germany's Deutsche Bank signed a secured loan worth US$100 million in Ho Chi Minh City on November 23.
|At the signing ceremony for the loan|
Under the loan agreement, Deutsche Bank AG Singapore will provide the secured loan for FE CREDIT.
According to FE CREDIT, the loan will help the company to increase its financial potential and consolidate its leading role in the area of consumer finance products and services.
CEO and Vice Chairman of FE CREDIT Kalidas Ghose said that the cooperation with Deutsche Bank continuously affirms that the business model of FE CREDIT has met strict international standards.
The FE CREDIT CEO noted that the loan will contribute to the long-term growth plan of the company which aims to provide best finance products and services for customers.
Sreenivasan Iyer, Head of Corporate Finance for Southeast Asia at Deutsche Bank said that the loan is the largest of its kind from Deustche Bank in the area of consumer finance in Vietnam, adding that the deal demonstrates the support of the bank towards its partners in Vietnam.
FE CREDIT is a leading financial company in Vietnam which serves about three million customers and collaborates with nearly 4,000 partners. The company provides mortgage loans of products and services including personal cash loan, consumer durable loan, two wheeler loan and FE CREDIT master card.