Information & Digital Platforms: The Key to Expanding SME Lending in Vietnam

SMEs – Strong Growth Potential, Yet Difficult to Unlock Bank Credit

Small and medium-sized enterprises (SMEs) are the backbone of Vietnam’s economy. However, they are also the segment facing the greatest challenges in expanding access to bank credit.

SMEs currently account for approximately 95% of all active enterprises, contributing nearly 50% of GDP, around 30% of total state budget revenue, and generating about 40% of total employment in the economy (Source: VinaSME).

However, according to FiinGroup data, only around 10% of SMEs can access formal bank credit. The remaining majority must rely on internal capital or informal financing channels, which come with high costs and significant risks.

In a context of increasing economic volatility, SME lending is becoming a strategic pillar for many banks in Vietnam, not only as a means to expand outstanding loans, but also to build a sustainable customer base over the medium and long term.

Government and Regulatory Policies Supporting SMEs

Resolution No. 198/2025/QH15 (dated 17 May 2025) reaffirms the central role of the private sector in the economy, with SMEs identified as a priority segment under key policy: Include corporate income tax exemptions for the first three years of operation, the elimination of business license fees from 1 January 2026, support for access to land and public assets, priority access to public procurement packages valued at VND 20 billion or less, and an expanded role of the SME Development Fund in lending, financing, and investment. At the same time, the Government is promoting improvements in legal capacity, digital transformation, and the application of tax and fee incentives, as well as financial support for innovative startups to strengthen SMEs’ financial capacity and enable more sustainable access to credit.

When Data and Digitalization Become Competitive Advantages

In Vietnam, banks at the forefront of data utilization and digital transformation have also been the most effective and fastest-growing players in SME lending.

Techcombank – Strong Growth Driven by Data

Techcombank has applied a digital technology strategy to SME lending through unsecured lending solutions developed in partnership with digital accounting and business management platforms. This solution allows businesses to complete the loan application process in approximately two minutes and receive results within one day, without requiring collateral.

By focusing on data and technology, Techcombank has achieved strong credit growth, with total outstanding loans reaching approximately VND 640 trillion (up 20.85% year-on-year). Notably, lending to micro-SMEs and small commercial customers increased by nearly 97% year-on-year.

HDBank – Digital Supply Chain Finance

HDBank has chosen a different approach through a supply chain finance model, enabling SMEs to access funding based on cash flows across the entire supply chain rather than individual collateral assets.

Through the VCF platform and a “three-party” model (bank – anchor enterprise – SME), HDBank has connected more than 100 anchor enterprises, 1,485 suppliers, 4,202 distributors, and 41,118 retail outlets. Total outstanding supply chain financing has exceeded VND 40 trillion, helping shorten credit processing times and supporting SMEs’ deeper integration into domestic and international value chains.

Core Bottlenecks in SME Lending

Despite its strong potential, SME lending continues to face several key challenges:

• Fragmented and insufficiently transparent enterprise information
• Difficulties in assessing risk and inter-company relationships
• High appraisal costs under traditional credit assessment models

These bottlenecks are the main reasons many banks have yet to expand SME lending at scale in a safe and sustainable manner.

FiinGate – An Information Platform and Solution for Sustainable SME Lending

FiinGate is an integrated enterprise information and risk management platform covering nearly two million Vietnamese enterprises and millions of international companies.

Through FiinGate, banks and financial institutions can:

• Access comprehensive enterprise information, including legal status, operations, financials, and corporate linkages
• Use SME risk scores to conduct fast and consistent credit risk assessments
• Digitize and standardize SME credit processes, particularly for innovative financial models such as supply chain finance

With FiinGate, banks and financial institutions can expand SME lending more safely and efficiently, enhance risk management quality, and sustainably unlock the SME segment—one of the most important growth drivers of Vietnam’s economy.

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