Consumer finance firm Home Credit Vietnam sees 124% H1 profit jump
Ho Chi Minh City-based consumer loan provider Home Credit Vietnam has announced it earned a net profit of VND474 billion ($19 million) in H1/2024, up 124% year-on-year.
With such a performance, Home Credit Vietnam has become the biggest profit maker in the consumer loan business in January-June.

At a Home Credit Vietnam office. Photo courtesy of Dai bieu Nhan dan (The People's deputy).
The H1 earnings helped the company improve its return on equity (ROE) to 6.77% from 3.22% in the same period last year.
The company said in a filing to the Hanoi Stock Exchange that its owner’s equity reached VND7,007 billion ($281.7 million) as of June 30, rising 6.6% year-on-year.
Its debt-to-equity ratio rose to 304% as of June from 277% a year earlier, translating into liabilities of circa VND21,300 billion ($856.3 million). Of this amount, it had VND3,500 billion in outstanding bonds.
Home Credit Vietnam was established by the Czech Republic-based Home Credit Group in 2008 and started operating in the Southeast Asian country in 2009. It is now the second-largest consumer loan firm in Vietnam with a 14% market share, after FE Credit.
FE Credit is 49% owned by Sumitomo Mitsui Banking Corporation (SMBC) under Japan’s Sumitomo Mitsui Financial Group, Inc. (SMFG).
In February, Thailand’s Siam Commercial Bank (SCB) signed a sale and purchase agreement to wholly acquire Home Credit Vietnam for EUR800 million ($885 million). The deal is expected to be completed by the first half of 2025, subject to approval from the competent authorities of the two countries.
Home Credit Vietnam made net profits of VND1,189 billion ($47.8 million) in 2022 and VND375 billion in 2023.
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