Speaking at the 2023 Sustainable Development Conference held by VIR last week, Pham Ngoc Khang, CFO of Home Credit Vietnam, said the company puts environmental, social, and governance (ESG) at the heart of its commitment to responsible business in Vietnam.

"Home Credit is also the pioneering consumer finance company in Vietnam, applying ESG to all activities. The application of ESG in all activities is clearly shown in both doing business responsibly and supporting the community."

Regarding responsible business, Home Credit has stepped up investment in financial inclusion to help the unbanked or underserved access financial services in Vietnam, which is in line with the national financial inclusion strategy towards 2025, with a vision for 2030.

“We have 6,000 employees serving 15 million customers, out of whom 40 per cent are receiving credit for the first time. Accordingly, we focus on responsible lending through consulting activities on possible risks and outlining personal financial plans for customers, ensuring customers' liquidity in the future. Home Credit provides transparent services as well as reasonable prices and interest rates. The company aims to educate and raise customer awareness in their financial journey," Khang added.

To improve financial literacy, Home Credit has accompanied the Communications Department under the State Bank of Vietnam to develop the Smart Money initiative and launch a book on understanding financial matters.

Regarding community support, one of the highlights is the Home for Life project, in which Home Credit helps women take control of their lives. For nearly 10 years, Home Credit has coordinated with local women's unions to deploy loan packages as well as financial and livelihood support programmes for disadvantaged women in localities nationwide, with the support totalling nearly $124,000. As a result, hundreds of disadvantaged women and their families have received support to improve their income and quality of life.

Within the framework of the project, Home Credit also organises training sessions on financial management and livelihood skills for women under Home Credit's comprehensive digital financial model.