Credit Rating Result
Hanoi, 11 June 2026 - VIS Rating has withdrawn the A- long-term issuer rating of MB Shinsei Consumer Credit Finance Limited Liability Company (Mcredit) at issuer’s request.
The rating presented in this announcement is effective from the date of the announcement and remains in effect unless and until it is superseded by a subsequent rating action. Please visit https://visrating.com/rating-results to obtain the latest update on the rating.
Rating rationale
We have decided to withdraw the rating following a review of the issuer’s request to withdraw its rating.
Prior to the withdrawal, the rating outlook was stable.
Established in 2016, Mcredit is a joint venture finance company owned 50% by Military Joint Stock Commercial Bank (MBB), one of Vietnam’s largest commercial banks, and 49% by SBI Shinsei Bank, Limited, a major Japanese financial institution. Mcredit has rapidly scaled to become the third-largest consumer finance company in Vietnam by total assets as of end-2025 with lending portfolio focusing mainly on unsecured cash loans.
Factors That Could Lead to an Upgrade/Downgrade
Rating methodology
Financial Institutions Rating Methodology.
For more detailed information, please refer to our full credit rating methodology at: here
Credit rating history
| Date | Rating type | Rating | Outlook | Action |
|---|---|---|---|---|
| 11 June 2026 | Long-term Issuer rating | WR | - | Rating withdrawn |
| 12 Jun 2025 | Long-term Issuer rating | A- | Stable | First-time assignment |
Regulatory disclosures
For further specification of VIS Rating's Rating Symbols and Definitions, please see: here
Mcredit’s ownership stake in VIS Rating: 0%
The ownership ratio of Mcredit held by VIS Rating’s staff: 0%
Cases in which analysts and credit rating council members cease their participation in the credit rating contract before the contract expires and the reason for the cessation: 0
VIS Rating adheres to a stringent independence policy by current regulations governing the provision of credit rating services in Vietnam. This commitment extends to compliance with our conflicts-of-interest policy, aiming to uphold objectivity and independence when expressing opinions on credit ratings.
The rating has been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.
This rating is solicited.
Regulatory disclosures contained in this rating announcement apply to the credit rating and, if applicable, the related rating outlook or rating review.
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Analyst & Committee
Primary Analysts
Rating Committee Members
Credit Rating Announcement Number
Public credit rating announcement no: VN0107349019-002-110626
Disclaimer
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