Lotte Card’s Vietnam subsidiary, Lotte Finance Vietnam, has secured approval from the State Bank of Vietnam to transition from a consumer finance company into a general finance company, according to reports from the Energy Economy News on September 10, 2026. According to the same reporting, the entity has also changed its corporate name to Lotte General Finance Vietnam, marking the first time a South Korean financial firm operating locally has converted into a general finance corporation.
Strategic Shift Toward Corporate and Asset-Based Lending
According to Energy Economy News, the subsidiary’s business model previously centered heavily on individual credit loans and consumer finance. Following the license conversion, Lotte General Finance Vietnam can now expand into business and corporate lending, providing secured and unsecured loans to prime enterprises alongside commercial vehicle financing. The transition also grants entry into the leasing sector, allowing the firm to launch automotive leasing operations and scale into medical equipment and construction machinery financing.
According to company statements cited by Energy Economy News, the subsidiary already collaborates with Lotte Rental to provide customized long-term rental financing. With Vietnam’s vehicle and electric vehicle markets expanding, the firm plans to build an integrated financial pipeline around commercial electric vehicle support to scale its operations.
Financial Turnaround and Capital Expansion
According to Energy Economy News, the regulatory approval arrives following a financial turnaround for the overseas unit. After posting consistent losses following its initial entry in 2018, Lotte Finance Vietnam reached profitability in 2024. Net income reached 24억7200만원 last year and accelerated to 46억9600만원 in the first half of 2026 alone.
According to the reported data, parent company Lotte Card injected 6800만달러 (약 937억원) into the Vietnamese entity in 2024 to support the expansion. Lotte Card Representative Director Jung Seong-ho stated, according to Energy Economy News, that the general finance transition establishes a long-term growth foundation through portfolio diversification and profit base expansion, adding that the subsidiary’s performance will enhance Lotte Card’s corporate value.
Managing Corporate Risk and Asset Health
According to Energy Economy News, the move into corporate finance introduces new operational challenges because the subsidiary previously focused primarily on consumer credit risk models targeted at high-income earners and civil servants. To manage potential increases in delinquency rates and credit costs stemming from diversified asset classes—particularly within sectors sensitive to economic cycles like real estate and construction—Lotte Card plans to strengthen its corporate screening organization next year and refine its risk evaluation framework around existing partners.
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