Consumer lending to grow again in 2021

The consumer finance market would have a chance to grow again in 2021 thanks to the economic recovery, experts forecast.

Three companies dominate consumer lending market in VN According to the State Bank of Việt Nam (SBV) 16 finance companies are licensed to provide consumer lending with their total charter capital worth more than VNĐ22 trillion (US$948 million) as of the end of 2020.

Fishery exporters take pandemic in their stride Việt Nam’s seafood exports this year are expected to be worth US$9.4 billion in all, an increase of 10 per cent from 2020.

Consumer lending expected to recover well after pandemic ends

Will consumer loans remain a money-spinner for banks post-COVID-19? This was a question recently posed by market observers after witnessing the pandemic’s big economic impact on individuals and households, dragging down demand for personal loans.

Moody's places five VN financial institutions on review for downgrade Moody's Investors Service has placed the long-term ratings and assessments of three Vietnamese finance companies and two Vietnamese banks on review for downgrade.

New consumer finance curbs to challenge business models: Fitch Ratings

The State Bank of Việt Nam’s new regulatory limits on unsecured consumer-finance personal loans will pressure the business models of more-exposed companies over the next few years, according to Fitch Ratings.

Home Credit unveils new in-app feature Financial consumer company Home Credit Vietnam has recently unveiled a new in-app loan installment payment feature with AirPay e-wallet in an effort to support the State Bank of Vietnam's promotion of cashless payments.

Banks compete for customers in credit card market Competition in the country’s credit card market has become stiff as foreign and domestic banks as well as finance companies gain shares in the market.

Moody's backs Việt Nam's strict proposal on unsecured consumer lending

Remittances to Việt Nam could fall due to US policies

Overseas remittances to Việt Nam are expected to decline mainly due to global factors.