CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Viet Nam gives opportunities for retail banking
By Tuan Minh 10:15, 2013/11/22
Retail banking sees vast potential for development in Viet Nam, according to economic experts and bank leaders at the ASEAN Banker Forum 2013.
The event was held on November 19 in Ho Chi Minh City.

Income per capita of Vietnamese people is increasing. Income of a large proportion of citizens in other ASEAN member states are also rising. These have created opportunities for retail banking to explore, said Ha Huy Tuan, Vice President of the National Financial Supervisory Commission.

“Retail banking offers huge opportunities for banks in Viet Nam which is a populous country with rising personal incomes”, said Godfrey Swain, Head of Retail Banking and Wealth Management of HSBC.

According to updated news from the State Bank of Viet Nam, the percentage of cash transactions in the total means of payment declined gradually to around 12%.

So far, up to 33 million Vietnamese people used electronic commerce. Over 70% of them applied electronic transactions.

However, obstacles are still lying ahead including massive investment in technology, poor services, and weak connectivity with customers./

Comments
Other news
16:48, 2025/02/27
Local banks cut interest rates in response to PM’s request
The rate cuts come in response to the Prime Minister’s directive to inspect and review banks that have recently increased deposit rates.
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.