FE Credit has a new general director

Ms. Nguyen Thi Minh Nguyet, a boss from VPBank , became acting general director, replacing Mr. Kalidas Ghose - who has run FE Credit since its early days.

From April 30, Mr. Kalidas Ghose resigned from the position of General Director of SMBC Vietnam Prosperity Bank Finance Company (FE Credit).

Mr. Ghose has been running FE Credit since its inception and has moved to the role of senior advisor to the Board of Members, advising on strategic planning and consumer finance market development.

Replacing Mr. Ghose, FE Credit appointed Ms. Nguyen Thi Minh Nguyet as Acting General Director from May 4.

Ms. Nguyen Thi Minh Nguyet, Acting General Director of FE Credit. Photo: FE Credit

Ms. Nguyen Thi Minh Nguyet is a member of the Executive Board of Vietnam Prosperity Bank (VPBank), holding the position of Director of Operations. She joined VPBank in 2014 and held many important positions at this bank.

Previously, Ms. Nguyet had 17 years of experience at a large international financial institution, ANZ Bank, with management positions in the fields of Finance, Operational Risk Management, Project Management, Operations, Internal Audit...

FE Credit said that the consumer finance industry has just gone through a year of crisis when it faced consecutive difficulties, such as the global economic recession, inflation causing high interest rates. Workers, who are the main customer segment of finance companies, lost their jobs en masse due to many businesses lacking orders or dissolving.

Moody's recently downgraded FE Credit's credit rating due to difficulties in the consumer finance sector. However, the company's management said that it has a comprehensive restructuring plan and will soon change in a positive direction, with support from VPBank and SMBC.

At the recent annual shareholders' meeting, Mr. Nguyen Duc Vinh, General Director of VPBank, also said that 2023 will be the year FE Credit will restructure, re-evaluate operations and build long-term operational orientation.

Quynh Trang

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