Moody’s Investors Service has assigned a B3, or stable, credit rating to Home Credit Vietnam Finance Company Limited, making it the first consumer finance company in Vietnam to get the rating.
Home Credit has received a B3 credit rating from Moody’s, the first consumer credit company in Vietnam to achieve it. (Photo: VNA)
Hanoi (VNA) - Moody’s Investors Service has assigned a B3, or stable, credit rating toHome Credit Vietnam Finance Company Limited, making it the first consumer finance company in Vietnam to get the rating,matching that of some banks despite its high-risk business model.
According to Moody’s, a further upward rating is possible if the companyimproves its funding and liquidity while maintaining stable asset quality andcapital.
The rating reflects Moody's expectation that Home Credit Vietnam willmaintain stable credit fundamentals over the next 12-18 months.
Home Credit also got a B3 rating for its credit profile, reflecting itsexposure to the high credit risk inherent in Vietnam's rapidly growingunsecured consumer finance market.
Moreover, its funding and liquidity are vulnerable to disruptions in case ofmarket and/or credit shocks.
But the rating reflects the company's good market position, highprofitability and good capital buffer.
Home Credit offers small unsecured consumer loans. Its exposure to creditrisk is high, as highlighted by loan loss provisions to average gross loans of7.7 percent at the end of 2017, and non-performing and written-off loans of7.8 percent of gross loans as of the same date.
The company posted a return on assets of 9 percent and return on equity of44 percent at the end of 2017.
Despite high cash dividends and rapid growth, Home Credit's highprofitability will allow the company to maintain a good capital buffer over thenext two years.-VNA
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Home Credit has received a B3 credit rating from Moody’s, the first consumer credit company in Vietnam to achieve it. (Photo: VNA) 
