On May 24, 2024, the State Bank of Vietnam (SBV) issued Decision No. 992/QD-NHNN to adjust the charter capital of Lotte Finance Company Limited.
The decision, which took effect immediately, amended the company’s establishment and operation license issued by the SBV on November 19, 2019. It raised Lotte Finance’s charter capital to VND 4,186 billion, up from VND 2,460 billion previously. Lotte Card Co., Ltd. (South Korea) owns 100% of the charter capital.
This marks the largest capital increase since Lotte Card entered the Vietnamese market in 2018. With this move, Lotte Card signals its intention to aggressively expand its business in Vietnam, having assessed that its local business has stabilized and is ready for sustainable growth. This decision also aligns with Lotte Finance’s current strategic focus, driving the company’s comprehensive development and expansion of financial services to better reach Vietnamese consumers.
