Lotte Finance Launches Consumer Loan Services in Vietnam

9:49:21 AM | 19/12/2018

After acquiring TechcomFinance in March and got operation license by the State Bank of Vietnam in September, Lotte Finance Company Limited (Lotte Finance) has gradually been well-prepared from product to the organizational structure, IT system, standard operation procedure, ready for the services launch on December 18, 2018.

Loan product is the first to be launched. Together with Credit card which will be launched in the first half of 2019, unsecured Loan is one of the two main businesses by the company in Vietnam market.

Lotte Finance sets its target consumers those with general monthly income from VND3 million up with the hope to offer unique experience and convenience through highly customized products that suit the majority of Vietnamese people including low-income group. The loan limit is up to VND100 million with loan terms up to five years. The company's interest rate is also expected to be lower than the market average rate. At first launch, Lotte Finance will run its loan services at two pilot locations i.e Hanoi and Ho Chi Minh City before expanding to the other regions. Interested customers can find out more information about Lotte Finance official website at www.lottefinance.vn or contact via hotline number 19006866.



The representative from Lotte Finance said: “Our parent company, Lotte Card, has accumulated a lot of experience in consumer finance industry. Lotte Card was the first company introducing the palm vein authentication payment solution for credit card industry in Korea. So we’re going to take advantage of the state-of-the-art technology of our parent company to develop financial products which are suitable for Viet Nam as well as offering our customers with unique experience which can only be provided by our company. Putting customers’ values at the center of our business, we will thrive to be a reliable partner who helps improving our customers’ life quality”.

The company backed by Lotte Group – a world’s leading multinational group, is intended to develop into a multifunctional finance company based on advanced technology foundation and years-long experience in consumer loan inherited from its parent company, LOTTE Card, as well as leveraging current technology such as Fintech, Big Data, etc. Consumers including low income groups will, therefore, be experiencing a stable and high quality financial services from loan application to loan liquidation along their ways with Lotte Finance.

It is expected that from now to the first half of 2019, Lotte Finance will promote different forms of consumer loans such as durable loans, credit cards, etc. in various provinces and cities nationwide. With a huge potential of consumer finance in Vietnam, Lotte Finance will be a positive factor enhancing the credit access for the Vietnamese people, as well as contributing to the development of consumer finance market in Vietnam.

Nam Pham