Home Credit Vietnam Finance Company Limited (Home Credit Vietnam) officially announced information on its financial situation in 2024 to the Hanoi Stock Exchange (HNX) and bondholders.
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| Home Credit Vietnam reported a profit of VND 1,291 billion in 2024, 3.44 times higher than in 2023. |
Accordingly, the company 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 information about its financial situation on HNX.
As a result, the return on equity after tax improved sharply from 5.56% to 17.92%. The company said the results came from effective customer lending operations, optimized interest expenses, and increased income from other services. At the same time, strict risk management with automation technology in all lending processes of Home Credit Vietnam also contributed significantly.
By the end of 2024, total assets will reach VND 27,337 billion, an increase of approximately 7% compared to the beginning of 2024 thanks to growth in personal customer loans and total outstanding credit balance increasing by 12.4%.
The NPL ratio was 1.76%, down from 2.49% in 2023, placing Home Credit among the top performers in the consumer finance industry in Vietnam. The capital adequacy ratio (CAR) increased to 27%, significantly higher than the minimum requirement of 9%. These indicate strong capital reserves, ensuring liquidity against credit, market and other potential risks; as well as the company's effective risk management capabilities and safe asset structure.
In terms of capital, equity capital recorded VND 7,203 billion, but only VND 2,050 billion was invested capital by owners while funds were VND 1,564.7 billion and accumulated profit reached VND 3,589 billion.
The company maintains a similar debt/equity ratio compared to 2023, demonstrating effective debt leverage control.
During the year, the company issued bonds with a total face value of 3,100 billion, the outstanding bonds issued were higher than in 2023 to serve credit growth, contribute to diversifying capital mobilization channels, and minimize the risk of maturity mismatch.
Home Credit assesses that the macroeconomic context in 2025 will still be challenging. However, the company believes in the recovery of consumer sentiment and continues to pursue a strategy focused 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.
In addition to business activities, the company 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.
Source: https://baodautu.vn/home-credit-viet-nam-cong-bo-bao-cao-tai-chinh-2024-lai-1291-ty-dong-d261099.html
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