PROSPECTS AND OPPORTUNITIES
Consumer credit set for steady growth, thanks to government and banking initiatives
Consumer credit in Vietnam is expected to grow steadily over the forecast period, thanks to significant efforts by both the government and banks in developing a healthy lending ecosystem. For example, the State Bank of Vietnam (SBV) is focused on reducing lending interest rates and improving access to loans.
Digital transformation will drive banking innovation and tackle black credit
Digital transformation is playing an increasingly crucial role in Vietnam's financial sector, particularly in terms of improving operational efficiency and expanding banking services to a broader range of customers, including those in remote areas. Technological advancements, such as AI, are enabling faster loan application processing, more streamlined internal procedures, and enhanced customer convenience, helping to create a more inclusive and responsive financial environment.
BNPL will continue to show healthy growth
The "Buy Now Pay Later" (BNPL) model is expected to experience significant growth over the forecast period. With ongoing inflationary pressures and an unstable economy, consumers are increasingly opting for BNPL services to manage their budgets by spreading large-ticket purchases into affordable monthly instalments.
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Overview:
Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Consumer Credit in Vietnam report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Consumer Credit in Vietnam?
- What are the major trends key to understanding Consumer Credit in Vietnam?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Consumer Credit in Vietnam - Category analysis
KEY DATA FINDINGS
New regulations impact consumer lending
BNPL continues to gain traction
More banks and credit institutions integrate AI technology into the operations
Consumer credit set for steady growth, thanks to government and banking initiatives
Digital transformation will drive banking innovation and tackle black credit
BNPL will continue to show healthy growth
Consumer Lending in Vietnam - Industry Overview
Consumer lending in 2024: The big picture
2024 key trends
Low interest rates spur optimism, but housing market faces persistent challenges
Rise in digital banking spurs consumer lending
BNPL model continues gains traction
What next for consumer lending?
DISCLAIMER
The following categories and subcategories are included:
Consumer Credit
- Auto Lending
- Card Lending
- Durables Lending
- Education Lending
- Home Lending
- Other Personal Lending
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Consumer Credit research and analysis database.
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