Many large banks and financial institutions act as a support for consumer finance and lending companies - Photo: QUANG DINH
The National Assembly officially approved the mechanism and policy for building an international financial center in Vietnam today, June 27.
This strategy helps to elevate Vietnam's position in the global financial network, linked to economic growth momentum.
Consumer loan market recovers vigorously, outstanding debt of more than 320,000 billion VND
In the financial system, besides the leading role of banks, non-bank credit institutions such as finance companies - consumer loans, securities, investment fund management... are also increasingly asserting their importance.
Regarding financial companies, according to a report recently published by Vietnam Report at the end of June 2025, in Vietnam there are 5 leading units including: FE Credit, Home Credit, EVN Finance, HD Saison and Mcredit.
By the end of last year, the amount of money customers still owed to financial companies (credit balance) exceeded 320,000 billion VND, an increase of 7% over the same period.
The top 5 market leaders alone hold about 67% of the industry’s total assets, with more than VND208,500 billion, up 16% year-on-year. This shows a clear recovery of the consumer finance sector after a period of great pressure from bad debt.
The industry-wide return on assets (ROA) also increased to 1.6%, the highest in the past three years, after being negative due to high capital costs, reduced borrowing demand and tight credit (2023).
In the 2024-2025 period, thanks to digital transformation, customer expansion and better debt control, the industry's operating efficiency has improved significantly.
Among the top 5 largest consumer finance companies, EVNFinance is somewhat different when expanding its funding for energy and electricity projects... for many businesses in the ecosystem of Vietnam Electricity Group (EVN).
In the consumer lending segment alone, HD Saison is highly appreciated by Vietcombank Securities Company (VCBS) thanks to the solid support from its parent bank HDBank .
It is estimated that this bank's pre-tax profit in 2025 could reach nearly VND20,800 billion, an increase of more than 24% over the same period. Of which, the consumer finance lending segment alone contributes about VND1,650 billion, an increase of 36% over the previous year.
VCBS believes that the recovery of the real estate market and increased demand for consumer loans will be the driving force for growth of financial companies like HD Saison, while the ability to effectively control bad debt continues to be an important competitive advantage.
To retain customers, transparency and confidentiality are needed.
People often turn to consumer finance companies to borrow money to buy motorbikes, electrical appliances, laptops and household items for daily life. In addition, loans are also used to pay tuition, hospital fees, cover living expenses when facing financial difficulties, or supplement capital for small business activities...
A survey by Vietnam Report shows that more than 60.3% of customers choose financial services based on preferential interest rates. However, more than 51% also rate the reputation and reliability of the business as key criteria when making a decision.
Going deeper, the top three important criteria chosen by customers when evaluating business reputation include: transparency in operations and contracts (54%), ensuring customer data security (53%) and the ability to quickly handle complaints (49%). These factors are also a measure of financial companies' management capacity and long-term commitment to customers.
In the context of Vietnam aiming to build an international financial center, the sustainable development of financial companies, associated with consumer confidence, plays an important role. This not only helps people and businesses avoid falling into the black credit trap, but also contributes to reducing the great pressure on the banking system, creating a driving force to promote economic growth.
Source: https://tuoitre.vn/nguoi-dan-vay-tra-gop-hon-320-000-ti-dong-tu-cong-ty-tai-chinh-de-mua-xe-may-dien-thoai-20250627145320082.htm
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