European consumer finance group launches in Vietnam

PPF Group has launched consumer finance operations in Vietnam, the eighth market in its portfolio of emerging European and Asian countries, the Netherlands-based company said in a statement Tuesday.

PPF Vietnam Finance Company, headquartered in Ho Chi Minh City, has a chartered capital of VND500 billion (US$28 million). It is licensed to operate in Vietnam for 50 years, offering financial services including consumer loans and point-of-sales finance.

PPF Group’s consumer finance services are also available under the brand “Home Credit” in the Czech Republic, where the group originated, Slovakia, Russia, Ukraine, Kazakhstan, Belarus and China.

PPF Group operates in the area of consumer financing and retail banking and manages assets worth almost €10 billion ($13 billion).

 Thanh Nien

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