(Source: CafeF) On the morning of April 24th, VietCredit’s General Shareholders Meeting approved a profit target of VND 2,400 billion and a plan to use the entire VND 830.2 billion retained earnings from 2025 to issue shares to increase charter capital.
On the morning of April 24th, 2026, VietCredit General Finance Joint Stock Company (VietCredit) held its 2026 Annual General Shareholders Meeting at Tan Cang Tourist Area, Ho Chi Minh City. The company’s management reported the business results for the first quarter of 2026 with net interest income reaching VND 1,501.1 billion, an increase of 264.6% compared to the first quarter of 2025.
Pre-tax profit reached nearly VND 577.7 billion, an increase of 662.1%, and after- tax profit reached VND 461.5 billion, an increase of 508.8% compared to the same period. With these results, the company has completed over 24% of its annual profit target after the first three months of the year.
The “Art” of Understanding Customer Insights in the AI Era
Sharing about the breakthrough results in the first quarter, Mr. Ho Minh Tam, General Director of VietCredit, said the main driving force came from expanding the customer base to 1.5 million profiles and the year-end season boosting consumer demand.
Notably, although the company is accelerating the application of AI to process big data, Mr. Tam emphasized that the core element creating the difference is the “art” of understanding customers.
The VietCredit leader explained that in reality, two customers with the same income level will have different financial needs and behaviors. Determining who can receive a higher credit limit with a longer loan term based on specific insights is how the company optimizes customer experience and manages risk.
The issue of bad debt and the roadmap for listing on the stock exchange
During the discussion, the management explained the bad debt situation, noting that the ratio reached 7.08% at the end of Q1 2026, an increase from 6.06% at the end of 2025.
The company aims to reduce the bad debt ratio to 5% in 2026 through portfolio restructuring and strict control of the disbursement process.
Regarding long-term plans, the company announced an adjustment to its loan balance target for 2027, reducing it to approximately VND 31,000 billion to focus on capital efficiency and asset quality rather than pursuing scale.
A noteworthy piece of information is the planned transition from the UPCoM exchange to the HOSE exchange in 2027 after meeting the requirements for consecutive profits as stipulated by regulations.
Fintech Strategy and Target Customer Segmentation
VietCredit positions itself as a Fintech Lending company with a focus on applying artificial intelligence (AI) and APIs to optimize loan approval. The AI scoring system allows the company to analyze non-traditional data sources to reach near-prime customers.
Connecting APIs with e-wallets helps shorten loan approval time to under five minutes, aiming for an automated approval rate of over 80% by 2026. In addition, the company has partnered with VinFast in the electric vehicle loan segment and identified the small and medium-sized enterprise (MSME) segment as a key market for the future.
Technology Infrastructure and Data-Driven Risk Management
The application of information technology is identified as a key competitive leverage as the company upgrades its infrastructure with disaster recovery and high-availability solutions. VietCredit is implementing a roadmap to meet international security standards ISO 27001 and PCI DSS, combined with proactive real-time cybersecurity monitoring.
Machine learning technology is applied throughout the entire process, from appraisal and approval to debt collection, to forecast customer needs and personalize credit products. The company’s core system is also being restructured with an open architecture to increase flexible integration with digital distribution partners and the financial ecosystem.
Business Results 2025 and Profit Allocation Plan
Looking back at 2025, the audited report recorded total assets reaching VND 17,641 billion, an increase of 116.2% compared to 2024. Pre-tax profit for the year reached VND 1,303 billion, an increase of 936% compared to the previous year. Based on undistributed profits exceeding VND 1,031 billion, the General Meeting unanimously agreed to allocate 10% to the capital reserve fund and 10% to the financial reserve fund.
The remaining profit of over VND 830.2 billion will be used entirely to issue shares to existing shareholders to increase charter capital. Shareholders also agreed to cancel the plan to issue 20 million shares privately from the beginning of 2025 and continue implementing the employee stock ownership program (ESOP).
Financial targets and resolutions adopted
The General Meeting voted to approve the 2026 business plan with a target total asset of VND 32,881 billion, an increase of 86.38% compared to 2025. Outstanding credit balances are projected at VND 30,923 billion and pre-tax profit at VND 2,400 billion.
To meet this need, the company plans to raise VND 27.717 trillion through institutional deposits and the issuance of certificates of deposit. In addition, the general meeting approved amendments to the charter regarding the new charter capital after issuance and the remuneration levels for the board of directors and supervisory board in 2026.