EVN Finance Joint Stock Company (EVN Finance) on Monday announced its entry into the consumer finance industry with the launch of a subsidiary called Easy Credit.
EVN Finance Joint Stock Company (EVN Finance) on Monday announced its entry into the consumer finance industry with the launch of a subsidiary called Easy Credit.
It will target middle-class customers with an income of at least VND4.5 million (US$200) a month, and provide them with loans of VND10-90 million for up to 60 months.
Speaking at the launch, Hoang Van Ninh, chairman of EVN Finance, said his company had mooted the idea of creating a consumer credit brand two years ago when the Government and the State Bank of Vietnam planned to restructure the credit market.
The company has roped in leading international experts and would use modern technologies.
It will begin with operations in five provinces and cities, HCM City, Dong Nai, Binh Duong, Long An, and Vung Tau.
Geert Jan Ten Hoonte, CEO of Easy Credit, said the company would expand its sales channels, including online, to attract more customers.
It plans to quickly expand its business, and by 2020 would be in all 63 provinces and cities in the country and have over a million customers, he said.
“We target to become the most reliable and advanced cash loan provider in Vietnam.”
In the next three years the company wants to become the top cash loans provider in Vietnam with the strongest customer profile, he said.
EVN Finance was established in 2008 with a registered capital of VND2.5 trillion ($109 million).
(Source:VNS)
