Credilab's Remarkable Growth: US$35 Million Loan Book and 53% Revenue Surge
New York, Thursday, 4 September 2025.
Credilab, VCI Global’s fintech unit, has expanded its loan book to US$35 million, increased revenue by 53%, and received conditional approval for a full online lending license, boosting its digital lending prospects.
VCI Global’s Strategic Growth
VCI Global Limited (NASDAQ:VCIG), a diversified holding company, has made significant strides in its fintech division through Credilab, achieving a loan book of US$35 million and an impressive 53% increase in revenue over the past year, ending June 2025 [1]. This growth is attributed to the strategic integration of AI technologies in credit assessment and risk management, which has enabled Credilab to maintain a non-performing loan (NPL) rate below 3%, showcasing robust financial prudence [1].
Regulatory Advancements and Future Prospects
Credilab has recently secured conditional approval for a full online lending license from the Ministry of Housing and Local Government of Malaysia (KPKT), marking a pivotal regulatory milestone [1]. This approval not only enhances Credilab’s potential for scaling operations but also aligns with the broader trend of fintech companies receiving increased regulatory support, thereby fostering expansion into digital lending markets [1].
Market Context and Economic Impact
The expansion of Credilab comes at a time when Malaysian micro, small, and medium enterprises (MSMEs), which constitute 96.1% of all businesses in the country, face a significant financing gap of approximately US$64 billion [1]. By providing accessible micro-financing solutions through advanced technology, Credilab is positioned to bridge this gap, offering substantial support to underserved sectors within the Malaysian economy [1].
Executive Insights and Future Vision
Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global, emphasized the transformative potential of Credilab’s achievements, noting that the combination of strong revenue growth and low NPLs underscores the company’s effective execution and technological prowess [1]. With the conditional approval for a full online lending license, Credilab is poised to expand significantly, potentially evolving into a fintech unicorn, a status symbolizing its rapid growth and market influence [1].