Vietnam’s P2P lenders suffer high default rates amid rising demand for loans

Vietnam’s nascent P2P lending industry has been paralysed by high default rates with the ratio of non-performing loans (NPLs) estimated anywhere between 8 to 20 per cent of their portfolio, industry observers reckon. The situation is expected to further escalate as the COVID-19 outbreak triggers greater demand for loans from non-traditional avenues, resulting in possibly a higher rate of NPLs.

Vietnam’s P2P landscape is dominated predominantly by about 23 lending startups, including the likes of iCare, Tima, Vaymuon, Growthwealth, Avay, Fiin, Interloan, RoboCash and Finizi, according to data from news aggregator fintechnews.sg.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.