Prudential Finance receives certificate of merit from central bank’s governor

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Báo Tuổi Trẻ English - 6 month(s) ago 7 readings

Prudential Vietnam Finance Company Ltd. (Prudential Finance) has just been presented with “The State Bank of Vietnam Governor’s Award” for its outstanding contributions to the banking industry in 2014 and 2015.

Prudential Vietnam Finance Company Ltd. (Prudential Finance) has just been presented with “The State Bank of Vietnam Governor’s Award” for its outstanding contributions to the banking industry in 2014 and 2015.

Speaking at the ceremony, Deputy Governor of the SBV Nguyen Dong Tien said: “In recent years, the consumer finance sector has seen robust growth, contributing to the country’s economic development. As the regulator, the SBV recognizes that Prudential Finance’s business has achieved uninterrupted growth with many innovations and ideas in crisis management, infrastructure improvement and personnel development.”

Mr. Sanjay Chakrabarty – CEO of Prudential Finance – said: “As a finance company, we thoroughly understand our responsibility, and together with other trusted institutions, we continue to contribute in developing a strong and sustainable finance-banking system in the Vietnamese market. ‘The SBV Governor’s Award’ is the valuable recognition of our efforts.”

“In business, we always adhere to the guidelines and policies of the regulator and strive to offer valued products that are close to customer needs while establishing policies to protect customers’ benefits to the utmost, helping customers maintain good credit histories, which is the basis for further enhancing the living standards of the Vietnamese people. All that will result in Vietnam’s sustainable socio-economic development,” Mr. Sanjay elaborated.

Prudential Finance's CEO shares the pride with his company's staff.Photo: Minh Vu

As a member of Prudential plc. (United Kingdom), for the past several years, Prudential Finance has maintained credit growth, thereby enhancing financial efficiency, maintaining market share and becoming one of the finance companies with the biggest outstanding balance in the consumer finance market. Its prudent customer assessment notwithstanding, the company always seeks to enable customers to access credit, meet their consumer finance needs and improve the quality of their lives.

Between 2013 and 2016, Prudential Finance established key milestones in the expansion of its footprint with the opening of its Da Nang Branch in December 2015, as well as several Services Introduction Points in more than 10 provinces and cities across the country. The company’s customer base has also increased steadily over the years. After serving its first customer in 2007, within just two years later, the company had accrued 50,000 customers nationwide. By October 2016 the company had celebrated its 300,000 th customer.

A customer is pictured working with Prudential Finance’s staff on a new contract. Photo: Hoang Giang

The company’s credit risk management and risk management in general were acknowledged by the SBV as appropriate. The company always strives to provide quality services to its customers to meet their specific needs, including appropriate loans. With consultancy and credit information from its renowned partners, the company has been building a Scorecard system and is now one of the pioneering finance companies to apply the system for risk management.

Prudential Finance’s commitment to becoming a leading business in the Vietnamese consumer finance sector has been acknowledged through numerous awards in the past few years. Besides the “Governor’s Award” and “Excellent Performance Award” in two consecutive years, 2014 and 2015, from the SBV, the company’s CEO received a Certificate of Merit for taking good care of its employees from the People's Committee of District 1, Ho Chi Minh City. Prudential Finance was also voted the “Best Finance Company” by consumers in a 2015 survey conducted by the Vietnam Banking Association in cooperation with International Data Group.

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