In addition to internal factors, FiinRatings assesses that the strength in Mcredit's credit capacity comes from the fact that the Company has been and is enjoying positive benefits from the support of two major shareholders, the Military Commercial Joint Stock Bank (MBBank) and SBI Shinsei Bank (Japan).

The business position is rated as “Good” reflecting Mcredit's solid position in the group of leading consumer finance companies in Vietnam, with the advantage of being in the MBBank ecosystem as well as Mcredit's diversified business model with a high level of stability, supported by prudent management and strict governance from the Group. Mcredit also shows high growth in the consumer finance market when owning a 5-year compounded loan growth scale (2019 - 2023) at 33.2%, higher than the industry average of 19.7%.

In addition, Mcredit's capital structure is stable, facilitating credit growth and liquidity stability. Mcredit's capital and liquidity profile is rated at "Good" due to its outstanding capital mobilization ability and diversified capital structure. FiinRatings expects the Company's capital mobilization ability to continue to improve in the coming period, contributing to supporting and maintaining liquidity stability.

FiinRatings believes that bad debt risks are partly controlled thanks to Mcredit's development and implementation of comprehensive risk management processes with a clear governance structure. Mcredit is one of the six pioneering credit institutions implementing solutions to apply population data in assessing the creditworthiness of borrowers to improve the appraisal process and better ensure the quality of the loan portfolio. In addition, the debt collection process is also being improved to increase efficiency in management and quality.