In the period of 2015-2019, the market size of the consumer finance, in term of outstanding loan portfolio, enjoyed average growth rate of over 30% per year. In 2020, the sector witnessed a significant slowdown with growth rate of around 10%, due to negative impacts of COVID-19. However, according to Mr. Le Xuan Dong, Head of Market Research and Consulting Services at FiinGroup (FiinResearch), Vietnam consumer finance sector would recover and maintain strong growth momentum in coming time. The market is estimated to grow at around 13% - 17% in 2021 based on the strong recovery of the whole economy, consumption demand from customers as well as improved risk appetite by lenders.
Let's have a look at the story about how Vietnam’s consumer finance market is recovering in 2021 in May Edition of Vietnam Economic Times Magazine HERE.