Home Credit Vietnam announces 2024 business results

Home Credit Vietnam Finance Company Limited (Home Credit Vietnam) has just officially announced its 2024 financial report to the Hanoi Stock Exchange (HNX).

Impressive profit growth

Home Credit Vietnam's strong balance sheet continues to be underpinned by impressive profit growth, superior capital adequacy ratio (CAR), and effective management of assets and liabilities.

The report noted steady growth in total assets, reflected in a significant improvement in the non-performing loan (NPL) ratio. Accordingly, total assets grew by 7% compared to the beginning of 2024, thanks to growth in personal customer loans and a 12.4% increase in total outstanding credit.

The non-performing loan (NPL) ratio is only 1.76%, down sharply from 2.49% in 2023 and much lower than the average of financial companies, putting Home Credit in the group of companies that operate effectively, demonstrate strict risk management processes and create sustainable assets.

Consumer credit is one of the sectors that promote economic growth.

Capital adequacy ratio (CAR) increased to 27.54%, significantly higher than the minimum requirement of 9%. This shows strong capital reserves, ensuring liquidity against credit, market and other potential risks.

Other financial indicators such as return on equity (ROE) increased by 17.92%; return on assets (ROA) increased by 4.7% due to effective operations of customer lending, optimization of interest expenses, and growth in income from other services. The above positive figures also contributed significantly to strict risk management activities with automation technology in all of the company's lending processes.

Notably, Home Credit recorded a profit after tax of VND 1,291 billion in 2024, 3.44 times higher than the previous year. This is the highest profit since the company announced its financial situation on the HNX. The above results come from the effectiveness of the company's flexible business strategy and outstanding risk management ability. The positive profit also reflects the picture of the consumer finance market that has strongly recovered after a difficult period due to the impact of the COVID-19 pandemic.

Promote financial inclusion programs

In 2025, in the context of many challenges in the macro economy, Home Credit Vietnam still maintains an optimistic spirit. The company believes in the recovery of consumer sentiment and continues to pursue a strategy focusing on customers, partners and risk management. With more than 16 million customers after 17 years of operation in the Vietnamese market, Home Credit Vietnam owns a solid customer data foundation, creating a premise to maximize growth opportunities.

Home Credit always pursues a strategy focusing on customers, partners and risk management.

At the same time, 2025 is also the year the Government sets a target of GDP growth of 8%; credit growth of the banking system of about 16% (equivalent to about 2.5 million billion VND to be supplied to the economy). In particular, consumer credit is one of the areas that are encouraged to push capital to stimulate consumption from the population. According to experts, consumer credit is expected to flourish this year when the economy recovers, GDP growth accelerates and household income improves... This will be an opportunity for financial companies to continue expanding their networks, business activities, and increasing market share.

In addition to business activities, Home Credit Vietnam is committed to continuing to promote financial inclusion programs through training courses to improve financial knowledge for the community, especially programs to support women in starting businesses.

Consumer credit is one of the areas that is encouraged to increase capital to stimulate consumption and promote economic growth. This will be an opportunity for financial companies to expand their business network, increase market share...

My Hanh

Source: https://congthuong.vn/home-credit-viet-nam-cong-bo-ket-qua-kinh-doanh-nam-2024-380941.html