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Update news consumer finance
Vietnam’s early efforts to weather the COVID-19 storm have helped its economy to reopen much sooner than others, with many sectors that have suffered badly from the outbreak – from retail to finance –now recovering with poise.
As Vietnam has a fertile consumer finance market, more foreign players are considering joining the bandwagon by tying up with local peers.
Foreign banks have decided to boost consumer finance loans as the business segment is forecast to maintain double digit growth this year.
With an annual 20-30 percent growth rate, the consumer credit market has become an attractive sector.
Digitalization has become a competitive edge for consumer finance firms in Vietnam as they adopt disruptive technologies to transform business.