Vietnam gov’t encourages foreign investment into banking sector
The Vietnamese government welcomes Sumitomo Mitsui Banking Corporation’s deal worth US$1.4 billion to acquire 49% stake at local consumer finance firm FE Credit.
The Vietnamese government welcomes Sumitomo Mitsui Banking Corporation’s deal worth US$1.4 billion to acquire 49% stake at local consumer finance firm FE Credit.
Moody's rating action concludes the review for downgrade initiated on April 7, 2020.
An upgrade is unlikely, given the review for downgrade.
Fitch Ratings believes larger, more established finance companies are better-placed to meet the new requirements while newer, smaller companies that concentrate on cash loans may find it harder to shift their business models.