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表紙:ベトナムにおける消費者金融:2019年前期のレビュー
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ベトナムにおける消費者金融:2019年前期のレビュー

Consumer Finance in Vietnam: First-Half 2019 Review

出版日: | 発行: FiinGroup JSC | ページ情報: 英文 39 Pages | 納期: 即納可能 即納可能とは

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価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=110.15円
ベトナムにおける消費者金融:2019年前期のレビュー
出版日: 2019年10月23日
発行: FiinGroup JSC
ページ情報: 英文 39 Pages
納期: 即納可能 即納可能とは
  • 全表示
  • 概要
  • 目次
概要

当レポートでは、ベトナムにおける消費者金融市場について分析し、市場の概要、セグメント別による成長分析、金融企業の市場シェアとベンチマーキング、代替金融業者との競合、市場における革新的な動向、および規制の動向など、体系的な情報を提供しています。

第1章 ベトナムにおける消費者金融市場:2019年前期のレビュー

  • 市場規模・成長・市場参入企業
  • 市場区分

第2章 金融企業の競合情勢

  • 金融企業の市場シェア
  • 金融ベンチマーキング
  • 代替金融業者

第3章 ベトナムの消費者金融における戦略的・革新的な動向

  • 消費者エコシステムの開発
  • 遠隔地への消費者金融の拡大
  • 資金調達における金融企業の積極性
  • 消費者金融プロセスのデジタル化

第4章 規制のアップデート

目次

The CF market is turning to get a steady growth due to the concern about SBV's proposed tightening policies on disbursement to new customers as well as limit of cash loans, which accounts for more than 30% of loan books in the majority of FinCos. In 1H2019. The CF market inched up 11.7% YTD growth.

CF increased its contribution to national loan book at 20.05% in the first 6M2019, compared to 18.3% in 2018 and 17.3% in 1H2018. Given the current market size, CF penetration in Vietnam (~20.% of national loan book) is currently considered slow compared to its regional peers (ASEAN5 at 35%), signaling room for growth.

Banks vs. FinCos in consumer finance

The CF Market consists of retail banks and FinCos, in which banks dominate more than 90% of the total market. With extensive retail network and long-term reputation, banks target customers with good credit history while target clients of FinCos are new and unbanked customers.

Product Composition

Cash Loans take up roughly half of FinCos' loan book and remain the growth driver, it is considered the quick approach to penetrate the CF market and increase market share for FinCos, especially new players who do not have a strong customer base for upselling.

In 1H2019, cash loan market share witnessed a deceleration due to the concern on SBV's intention to reduce the proportion of cash loans at FinCos to 30% at maximum in the draft Amendment of Circular 43.

Leading players like FE Credit, Home Credit, HD Saison have shifted to focus on cross selling and upselling to existing customers whose good credit history has been validated rather than new customers. Thus, products like TW, CDs (offered to new customers) tend to decline, while credit cards offered to customers with healthy credit history are strengthened.

Market Share

FE Credit managed to slightly increase its share by 2.1% compared to that at year-end 2018. Market share of other major players like HD Saison, Home Credit have been eroded due to the slow-down in loan growth and fierce competition from newcomers such as Easy Credit, VietCredit, SHB Finance, Lotte Finance and Shinhan Finance.

Regulatory updates

At the beginning of 2019, the provision regarding maximum ratio (LDR) for the use of short-term capital sources (D) to finance medium- and long-term loans (L), prescribed at Circular 16/2018 amending Circular No. 36/2014 became effective.

SBV is also reviewing regulations and policies and process of issuance and usage of credit cards and may promulgate an official regulation on this issue soon. This policy will directly affect the banks and FinCos who aim to boost sales of this product to low-income segments under the circumstance that SBV intends to restrict cash loans in the time to come.

Compared to 2018, SBV has not changed the standpoints on tightening disbursement policy of cash loan to new customers and raising risk-coefficients to housing loans which were proposed in the draft amendments to Circular 43

With a view to repel black credit, SBV encouraged credit institution who want to expand their POS networks and develop CF products to rural areas, industrial zones and so. Besides, by promulgating Decision on sharing economy models, the Government turns the green light for P2P lending by delegating SBV to study and develop a regulatory sandbox and allow pilot projects of this lending platform. The Government also considers allowing e-KYC in the draft Decree revising the current regulations on prevention and combat of money laundering.

Profitability

FinCos' NPM decreased by 4.2% YTD due to higher operating costs for recruitment of quality people, and higher investments in developing internal systems/procedures, and digitization. FinCos not only have to compete to gain market share but also face competition in recruiting and retaining competent staff as new entrants are hunting their quality workforce aggressively.

Asset quality

The average NPL in both banks and FinCos substantially declined, showing improvement in asset quality and risk management. In order to mitigate credit risk, some key players have switched to focusing more on existing customers whose credit history is validated rather than new customers, adopting AI, social rating to better score customers' credit and prevent fraud.

Key market trends

Strong partnership with e-commerce platforms, telcos and fintech ecosystems has become new key drivers for consumer finance that helps CF players boost customer outreach and overcome the shortage of consumer behaviour data.

Table of Contents

1. Vietnam consumer finance market: 1H2019 in review

  • 1.1. Market size, growth and market players
  • 1.2. Market segmentation

2. Finance companies' competition landscape

  • 2.1. Market share of Finance companies
  • 2.2. Financial benchmarking

2. Alternative lenders

3. Strategic and innovative moves in Vietnam consumer finance

  • 3.1. Development of consumer ecosystems
  • 3.2. Expansion of consumer credit to remote areas
  • 3.3. Finance companies' activeness in fund raising
  • 3.4. Digitalization of consumer lending process

4. Regulatory updates

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