According to the recently announced Q4/2023 Financial Report, Tin Viet Finance Joint Stock Company (VietCredit, Stock Code: TIN) recorded pre-tax profit in 2023 of VND 25.7 billion, down nearly 66% compared to 2022.
This is an inevitable result in the context of businesses facing common difficulties in the industry. According to information from the Vietnam Banking Association (VNBA), the disbursement rate for consumer loans in 2023 reached the lowest in the past 5 years. When the macro economy faced many challenges, VietCredit promptly "reached the finish line" with positive business results, showing its flexible adaptability and strong potential. By the end of 2023, VietCredit's total assets were recorded at VND 6,852 billion and customer loans reached VND 4,184 billion.
The report also shows that VietCredit has reduced operating costs by nearly 10% through reducing manual operating costs. The data shows that the company has made adjustments in restructuring according to the digital transformation model and tighter cost management. In addition, although the capital market still has many challenges for financial companies, the company still maintains the ability to mobilize capital with stable interest rates.
Looking forward to 2024, VietCredit has identified digital transformation as its strategic focus. The company focuses on digitizing the entire operational process and improving information technology infrastructure to enhance customer service quality. At the same time, VietCredit expands new products and cooperates with major partners to provide fast and effective financial services through 100% digitization of the loan process.
VietCredit representative said: "The company strives to apply digital technology to every aspect of business operations not only to improve daily performance but also to optimize customer experience. VietCredit believes that this transformation will contribute to building a sustainable, flexible business model that can quickly adapt to current market changes."
In addition, the company continues to accelerate the restructuring of its operating model and reorganize its human resources to enhance its ability to respond quickly and flexibly to market changes. The goal is to build a flexible organization with the right staff, laying the foundation for sustainable development in the digital future.
VietCredit has also expanded its international partnership network to attract investment and access global capital, while exploiting growth opportunities in strategic business areas.
Recently, the company was honored for the third consecutive time in the VNR500 Ranking - Top 500 Largest Enterprises in Vietnam 2023, an event organized by Vietnam Report and VietNamNet Newspaper.
With strategic and decisive steps, VietCredit is laying a solid foundation for a new expectation. The spirit of adaptation, innovation and flexibility are key factors, promising to continue to be a strong driving force to take VietCredit far on its development journey in the future.
Hong Nhung
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