“VPBank and BYD: A Strategic Partnership for Electric Vehicle Revolution in Vietnam”

VPBank and BYD have entered into a strategic partnership to offer flexible and market-leading credit packages to Vietnamese consumers, making it easier for them to own smart and modern electric vehicles. The collaboration between VPBank and BYD will result in tailored financial solutions for both dealership and individual customers looking to purchase BYD electric vehicles. Specifically, customers can borrow up to 80% of the vehicle’s value at an attractive interest rate starting from 7.9% per annum. VPBank is known for its efficient auto loan approval process, automated vehicle valuation system, 24/7 support, and quick disbursement of loans within just 2 hours after completing the necessary paperwork.

For dealership customers, VPBank and BYD are offering a competitive loan package to support dealers as BYD officially enters the Vietnamese market. This package includes loans of up to 85% of the electric vehicle’s value, with interest rates as low as 4.8%, depending on the loan term.

“As a leading multi-functional bank in Vietnam, VPBank is committed to providing smart financial products to its customers,” said Mr. Phung Duy Khuong, Vice Chairman and Deputy CEO of VPBank. “Our partnership with BYD, one of the world’s largest electric vehicle manufacturers, will enable us to offer modern electric vehicles to Vietnamese consumers, promoting a greener lifestyle and contributing to a healthier and safer environment, as well as supporting the growth of the green economy. We also assure our customers that we will provide them with comprehensive and superior financial solutions at optimal costs.”

The agreement between VPBank and BYD will make it more affordable for consumers to own electric vehicles with low-interest credit packages.

As part of their collaboration, VPBank and BYD will enhance their human resources and technological capabilities to improve service quality. This will make it easier for customers to access credit with a streamlined and efficient approval process for loan applications.

“We are confident that our partnership with VPBank will be mutually beneficial,” said Mr. Ouyang Xiaocheng, General Director of BYD Auto Vietnam. “BYD’s advanced electric vehicles, coupled with VPBank’s superior financial solutions, will enable us to optimize our resources, expand our sales network, increase revenue, and work towards sustainable growth.”

VPBank has been at the forefront of promoting green credit in Vietnam for many years, offering smart and innovative financial products that support businesses in developing a green and circular economy, reducing their carbon footprint, and enhancing their competitiveness. The collaboration with BYD is a step forward in VPBank’s strategy to become Vietnam’s leading green bank, contributing to economic, social, and environmental goals and building a sustainable future.

About VPBank: VPBank has set a strategic goal for its third five-year development plan (2022-2026) to become one of the top 3 largest banks in Vietnam and among the top 100 largest banks in Asia in terms of scale. VPBank boasts a strong financial foundation, with total equity of nearly VND 140,000 billion and chartered capital of over VND 79,000 billion, ranking first in the system in terms of chartered capital and second in total equity.

The bank has also invested in technology infrastructure and digital capabilities to meet the demands of the new phase of development, ensuring safety, efficiency, and a leading position in meeting market needs and trends.

VPBank aims to become a leading multi-functional bank, excelling in implementation, innovation, and value creation by offering comprehensive financial solutions and leveraging the strengths of its ecosystem and advanced technology.