Bank borrowers are having to 'bear' interest for those who 'default' on their debts.

"It's unfair that people who really want to borrow, want to pay off their debts, want to have a good livelihood, but they are having to pay the costs for groups of fraudsters, swindlers, bank loan defaulters," the bank leader frankly said.

The national financial inclusion strategy not only aims at universalizing cashless payments but also at expanding healthy credit, especially for vulnerable groups. To do that, the first thing is to increase the coverage of bank accounts for people, especially those in remote areas.

Since 2021, opening a bank account has become extremely easy. By the end of June 2024, according to the State Bank, Vietnam had 193 million individual payment accounts opened at the banking system.

The number of payment accounts in Vietnam is expected to exceed 200 million accounts by 2025.

According to Mr. Vu Thanh Trung, Vice Chairman of the Board of Directors of MB Bank, Chairman of the Board of Directors of MBV Bank, the rate of people having bank accounts is very high, showing that the initial stage of comprehensive finance and universal payment has basically been completed.

The next step of national financial inclusion, according to Mr. Trung, is related to credit. "Black credit is still operating in many places, how to eliminate black credit and popularize comprehensive finance specifically, banks have an important role," said Mr. Vu Thanh Trung.

Mr. Vu Thanh Trung: "Comprehensive financial payment services have basically been very successful." Photo: MB

According to Mr. Trung, if we want to have low-interest loan packages for the disadvantaged in society, we must first avoid bad debts for those who intentionally borrow and then do not repay. "The interest rate that people have to pay when borrowing from banks today, including the rate that people have to bear for those who do not repay their debts, is very high," said Mr. Trung.

The Vice Chairman of MB's Board of Directors said that it is unfair that people who really want to borrow, want to pay off their debts fairly, want to have a good livelihood, but they are having to pay costs for groups of fraudsters, scammers, who borrow money from banks and then default on their debts.

Therefore, in implementing comprehensive finance, the most important thing is how to detect fraudulent groups in the bank. At MB, the chosen solution is to use customer data to lend.

For example, MB is exploiting data from the sales management platform KiotViet - a partner with about 200,000 small traders. MB will classify customers with high/low creditworthiness based on data analysis.

“When we lend to customers with high creditworthiness, we will reduce costs for customers who do not pay their debts, so access to finance will be better,” Mr. Trung shared.

MB is also testing several lending models in rural and remote areas, aiming to reduce lending costs for customers in these areas.

“The State Bank has given close guidance, and large banks need to be responsible through data and new business models. We believe that new financial products will gradually be popularized in addition to payment services in the comprehensive financial sector,” said Mr. Vu Thanh Trung.

Decree No. 94/2025/ND-CP (Decree 94) effective from July 1, 2025, stipulates the controlled testing mechanism in the banking sector for the implementation of new products, services, and business models through the application of technological solutions.

The aim of the pilot mechanism is to promote innovation and modernization of the banking sector, thereby realizing the goal of financial inclusion for people and businesses in a transparent, convenient, safe, efficient and low-cost manner.

The results of the pilot implementation of Fintech solutions are used as a practical basis for competent state agencies to research, develop and perfect the legal framework and related management regulations if necessary.

Financial technology solutions (Fintech solutions) participating in testing in the testing mechanism include: Credit scoring; Data sharing via open application programming interface (Open API); Peer-to-peer lending.

Applicable subjects include: Credit institutions, foreign bank branches as prescribed in the Law on Credit Institutions; Fintech companies; competent state agencies; customers and other organizations and individuals related to the testing mechanism.

Source: https://vietnamnet.vn/nguoi-vay-von-ngan-hang-dang-phai-ganh-lai-suat-cho-nhung-nguoi-xu-no-2397128.html