28/06/2024
Vietnam's consumer finance market encountered its toughest year in 2023, experiencing a -9.1% YoY decline in loan book growth. This downturn was driven by economic slowdowns, reduced credit demand, worsening borrower credit quality, challenges in debt collection, and stricter lending practices. Despite these difficulties, there are opportunities for mid and small-sized financial companies to flourish, as well as increased potential for collaboration and M&A for investors and vendors looking to partner with finance companies (FinCos).