Country Report Capsule on Vietnam's Banking Sector: Overview and Insights
This IDC Financial Insights study encapsulates recent and expected strategic and technological developments pertaining to Vietnam's banking sector. "Vietnam's banking scene has witnessed phenomenal growth the last decade and a corresponding increase in international interest. Expansion, however, is not without growing pains, and challenges include rapid expansions in lending plus weak risk management postures, resulting in rising bad debts, and the need to restructure the banking system with State Bank of Vietnam's (SBV) directed mergers," says Li-May Chew, CFA, associate director for IDC Financial Insights Asia/Pacific Financial Advisory Service.
This country report capsule highlights Vietnam's commercial banking sector and recent macro developments, core IT vendors and their corresponding clients, and the state of adoption and evolving role of technology. It further presents a strengths, weaknesses, opportunities, and threats (SWOT) matrix on the top 10 largest banks in Vietnam. The report also shares survey findings from 6,000 Vietnamese consumers on critical issues such as the factors that influence their bank choice, services or products utilized frequently, channel touch points preferred, and their thoughts on the product or delivery aspects that could be augmented. The intent of this survey is to assist the Vietnamese banks gain more insights into their customers' experiences and expectations, and help them craft more appropriate offerings.