One FE CREDIT consulting booth. The company’s recent contract with Credit Suisse promised a development strategy, benefiting domestic clients (source: vayvontinchap.com)
Hanoi (VNA) - VPBank FinanceCompany Limited (FE CREDIT) has announced that it had completed a syndicatedloan procedure with Switzerland’s Credit Suisse Group.
The loan contract will supply FE CREDITwith a much-needed flow of working capital and broaden its ability to meet itsclients’ financial demands.
Credit Suisse AG Singapore acted as theintermediary for the signing of the loan contract, as well as the credit agentand legal representative for the loan.
The capital flow from the syndicated loanwill give FE CREDIT liquidity based on its commercial loan results, and serveto fulfil its plans to lead the Vietnamese commercial financial market, saidKalidas Ghose, FE CREDIT’s deputy CEO and director of retail banking andconsumer finance.
The loan will allow participatingentrepreneurs to improve their financial capability and boost businessoperations, he said, adding that it reinforces the trust in FE CREDIT by globalbanks, courtesy of its returns and business models, and vision for sustainabledevelopment of international standards.
“Vietnam has been a major market for CreditSuisse in Asia, and we are committed to bringing clients the best servicethrough the investment banking and capital mobilisation system,” said RehanAnwer, managing director of investment banking and capital market at CreditSuisse Group AG Singapore.
Founded as the consumer finance division ofVietnam Prosperity Joint Stock Commercial Bank (VPBank), FE CREDIT became anindependent company within six years of being established. It was awarded forbeing Vietnam’s best commercial finance company by the Global Banking and FinanceReview in 2016.
Credit Suisse, one of the largest globalfinancial services firm in Vietnam, has around 7 billion USD invested incontract values with domestic businesses and organisations. It ihas beenrecognised as the best foreign investment bank in Vietnam by many internationalfinancial magazines.-VNA
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One FE CREDIT consulting booth. The company’s recent contract with Credit Suisse promised a development strategy, benefiting domestic clients (source: vayvontinchap.com) 
