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Foreign investors net sell in Vietnamese market, banking sector attracts interest
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| Việt Nam has recorded 82 per cent year-on-year growth in downloads of the Citi Mobile® App and Citi’s customers have showed strong engagement, with those who actively use the app increasing by 85 per cent year-on-year. — Photo courtesy of Citi |
Viet Nam News
HÀ NỘI — Mobile Banking overtook other digital channels to become the preferred channel used by Citi’s Asia Pacific and Việt Nam clients in 2017.
Mobile use at Citi has surged in the last 12 months by 48 per cent, making it the fastest growing digital channel.
Việt Nam has recorded 82 per cent year-on-year growth in downloads of the Citi Mobile® App and Citi’s customers have showed strong engagement, with those who actively use the app increasing by 85 per cent year-on-year.
Digital is also growing rapidly as a source of new business at Citi. Digital acquisition in Citi’s credit cards and loans business grew 57 per cent year-on-year, and digital lending currently accounts for 39 per cent of total consumer loans fulfilled by Citi in the region.
For digital acquisition, in Việt Nam, the sum of 2017 digitally acquired cards and digitally acquired loans grew 65 per cent year-on-year. Some 90 per cent of the customers availed Citi Easy cash facility through digital channels. This growth was underpinned by Citi’s digital investments and growth in partnerships on leading digital ecosystems.
Citi has digital credit card partnerships with leading players in Việt Nam, including Lazada, Grab and Adayroi. Additionally, it has partnerships with leaders such as Amazon, Expedia and Airbnb in other countries in the region. — VNS
