StoxPlus is pleased to introduce our third issue on Vietnam Consumer Finance (“CF”) Market report 2015. Our first issue was released in 2013, covering consumer finance (“CF”) market data up to 31/12/2011. Our 2013 report was the first in-depth sector research for consumer finance in Vietnam. Fast forward to this new edition of our report, StoxPlus provided an updated and comprehensive analysis on the small but fast-growing consumer finance market in Vietnam. - See more at: http://stoxresearch.com/Reports/152-vietnam-consumer-finance-report-2015.aspx#sthash.KukBjr96.dpuf
Vietnam's banking sector faced challenges from high non-performing loan (NPL) ratios due to the economic crisis since 2010. NPL ratios reported by banks were under 5% according to local accounting standards, but the State Bank of Vietnam's Supervisory Authority reported an NPL ratio of 8.6% in mid-2012. Over 70% of bank lending was for corporate loans, but sluggish economic activity and business mismanagement made it difficult for many borrowers to repay loans, increasing NPLs. In response, banks have shifted to a more retail and consumer-oriented strategy to spur credit growth and improve profitability.
The consumer finance market in Vietnam grew substantially between 2007-2014. As of August 2014, outstanding consumer loans reached $10.4 billion, up 18% from 2013. Housing/home improvement and home appliances loans accounted for over 50% of the total. While banks still dominate the market, finance companies have experienced the fastest growth, with VP Finance believed to be the largest player. The report provides an overview of the size, segmentation, and key players of Vietnam's consumer finance sector.
How do information services support cross-border trade and investment flows?Hieu Nguyen
The document summarizes how information services support cross-border trade and investment flows. It notes that information flows underpin all other global flows, with data and communication making up 21.2% of global flows in 2013. Developed countries and China dominate global trade transactions, while smaller economies mainly trade regionally. The document then discusses Vietnam's level of connectivity and issues investors face due to information asymmetry. It outlines the growth of Bloomberg subscribers and online marketplaces like Amazon, eBay and Alibaba. Finally, it introduces StoxPlus' Biinform platform, which provides business information on over 800,000 registered Vietnamese companies to help clients make informed decisions.
Finance companies have grown the fastest in consumer loans in Vietnam, accounting for 10% of the total as of August 2014. Finance companies offer quick loan processing and charge higher interest rates between 30-80% APR. PPF is the largest finance company by loan outstanding, growing 23.1% in 2014, though FE Credit may have even larger actual loans outstanding and be the overall consumer finance market leader. Most consumer finance customers in Vietnam have monthly incomes between $150-350. Cash loans and e-wallets are emerging trends expected to continue growing as more customers shop online.
The document reports on a survey of 1,000 Vietnamese consumers regarding their experiences with and satisfaction of consumer finance services. The survey found high overall satisfaction levels and that the most popular providers were HD Saison, Home Credit, FE Credit, and ACS Trading. Respondents preferred installment loans for motorbikes and electronics and most utilized direct sales agents or bank branches for acquiring loans.
The document provides an overview of Vietnam's consumer finance market in 2016-2017. It discusses the market size and growth rates, segmentation, and competition dynamics between banks and finance companies. Some key points:
- The consumer finance market reached US$xx billion in 2016, accounting for xx% of the country's total loan book. Market growth slowed to xx% in 2016 from xx% in 2015.
- Installment loans made up the majority (~xx%) of consumer finance loans, followed by cash loans. Finance companies focused more on installment loans while banks focused on collateralized loans.
- One finance company dominated the market with an increasing share in 2016, followed by others. The top finance companies all posted growth
StoxPlus is pleased to introduce our first issue of Vietnam Bank Card report. This issue is expected to be released annually, covering most up-to-date card data on the market.
This issue details how the card market has developed exponentially since 2002, after the introduction of card system in Vietnam. The competitive dynamics have been thoroughly ratified. This picture with domination of debit card has not changed, but is expected to gradually shift with the changes in consumer behavior. Technology and infrastructure have become more critical, therefore, the report also highlights the rise of infrastructure and technology advancement and its applications in bank card market. To gain a deeper understanding of the attributes that customers value, we surveyed the products offered by selected financial institutions.
Below are the most critical findings in our first issue:
1) The number of bank cards in circulation in Vietnam has recorded a double-digit growth rate in the past 6 years, and reached 90.4 million at YE2015. Total card number is growing exponentially at CAGR of 26.56%, with debit card being the dominant type. State-owned commercial banks (SOCBs) make up 66% of total cards circulating in Vietnam. Among SOCBs, Vietinbank is the most popular card issuer with over 19.3million cards by all types.
2) ATM and POS systems have been growing extensively at two-digit in the past 5 years. The growth rate of ATM and POS system has been 25 – 30% in the past 5 years, reaching 16,855 ATM and over 217,000 Point of Sales (“POS”) by YE2015. However, the distribution and coverage of ATM and POS system are still far below our peer countries.
See more at: https://biinform.com/Reports/185-vietnam-bank-card-report-2016-8350.html
The survey found that Vietcombank, BIDV, and Vietinbank are the top 3 most well-known consumer loan service providers in Vietnam. Word-of-mouth and salesman consultations are the main sources of brand awareness. Home Credit (PPF) has the largest market share of Vietnam's consumer loan industry. The simple registration procedure is the main reason for choosing consumer loan services. Offering more promotion programs could make customers happier with their provider. Most users take out installment loans of 12 months or less and borrow between $250-1000 per transaction.
Vietnam's banking sector faced challenges from high non-performing loan (NPL) ratios due to the economic crisis since 2010. NPL ratios reported by banks were under 5% according to local accounting standards, but the State Bank of Vietnam's Supervisory Authority reported an NPL ratio of 8.6% in mid-2012. Over 70% of bank lending was for corporate loans, but sluggish economic activity and business mismanagement made it difficult for many borrowers to repay loans, increasing NPLs. In response, banks have shifted to a more retail and consumer-oriented strategy to spur credit growth and improve profitability.
The consumer finance market in Vietnam grew substantially between 2007-2014. As of August 2014, outstanding consumer loans reached $10.4 billion, up 18% from 2013. Housing/home improvement and home appliances loans accounted for over 50% of the total. While banks still dominate the market, finance companies have experienced the fastest growth, with VP Finance believed to be the largest player. The report provides an overview of the size, segmentation, and key players of Vietnam's consumer finance sector.
How do information services support cross-border trade and investment flows?Hieu Nguyen
The document summarizes how information services support cross-border trade and investment flows. It notes that information flows underpin all other global flows, with data and communication making up 21.2% of global flows in 2013. Developed countries and China dominate global trade transactions, while smaller economies mainly trade regionally. The document then discusses Vietnam's level of connectivity and issues investors face due to information asymmetry. It outlines the growth of Bloomberg subscribers and online marketplaces like Amazon, eBay and Alibaba. Finally, it introduces StoxPlus' Biinform platform, which provides business information on over 800,000 registered Vietnamese companies to help clients make informed decisions.
Finance companies have grown the fastest in consumer loans in Vietnam, accounting for 10% of the total as of August 2014. Finance companies offer quick loan processing and charge higher interest rates between 30-80% APR. PPF is the largest finance company by loan outstanding, growing 23.1% in 2014, though FE Credit may have even larger actual loans outstanding and be the overall consumer finance market leader. Most consumer finance customers in Vietnam have monthly incomes between $150-350. Cash loans and e-wallets are emerging trends expected to continue growing as more customers shop online.
The document reports on a survey of 1,000 Vietnamese consumers regarding their experiences with and satisfaction of consumer finance services. The survey found high overall satisfaction levels and that the most popular providers were HD Saison, Home Credit, FE Credit, and ACS Trading. Respondents preferred installment loans for motorbikes and electronics and most utilized direct sales agents or bank branches for acquiring loans.
The document provides an overview of Vietnam's consumer finance market in 2016-2017. It discusses the market size and growth rates, segmentation, and competition dynamics between banks and finance companies. Some key points:
- The consumer finance market reached US$xx billion in 2016, accounting for xx% of the country's total loan book. Market growth slowed to xx% in 2016 from xx% in 2015.
- Installment loans made up the majority (~xx%) of consumer finance loans, followed by cash loans. Finance companies focused more on installment loans while banks focused on collateralized loans.
- One finance company dominated the market with an increasing share in 2016, followed by others. The top finance companies all posted growth
StoxPlus is pleased to introduce our first issue of Vietnam Bank Card report. This issue is expected to be released annually, covering most up-to-date card data on the market.
This issue details how the card market has developed exponentially since 2002, after the introduction of card system in Vietnam. The competitive dynamics have been thoroughly ratified. This picture with domination of debit card has not changed, but is expected to gradually shift with the changes in consumer behavior. Technology and infrastructure have become more critical, therefore, the report also highlights the rise of infrastructure and technology advancement and its applications in bank card market. To gain a deeper understanding of the attributes that customers value, we surveyed the products offered by selected financial institutions.
Below are the most critical findings in our first issue:
1) The number of bank cards in circulation in Vietnam has recorded a double-digit growth rate in the past 6 years, and reached 90.4 million at YE2015. Total card number is growing exponentially at CAGR of 26.56%, with debit card being the dominant type. State-owned commercial banks (SOCBs) make up 66% of total cards circulating in Vietnam. Among SOCBs, Vietinbank is the most popular card issuer with over 19.3million cards by all types.
2) ATM and POS systems have been growing extensively at two-digit in the past 5 years. The growth rate of ATM and POS system has been 25 – 30% in the past 5 years, reaching 16,855 ATM and over 217,000 Point of Sales (“POS”) by YE2015. However, the distribution and coverage of ATM and POS system are still far below our peer countries.
See more at: https://biinform.com/Reports/185-vietnam-bank-card-report-2016-8350.html
The survey found that Vietcombank, BIDV, and Vietinbank are the top 3 most well-known consumer loan service providers in Vietnam. Word-of-mouth and salesman consultations are the main sources of brand awareness. Home Credit (PPF) has the largest market share of Vietnam's consumer loan industry. The simple registration procedure is the main reason for choosing consumer loan services. Offering more promotion programs could make customers happier with their provider. Most users take out installment loans of 12 months or less and borrow between $250-1000 per transaction.
FiinResearch is pleased to introduce Vietnam Banking Report 2021, a report that covers banking performance review, market trends, policy & regulatory framework updates.
What’s new?
2021 remained a tough year with the emergence of the fourth wave since the end of April, which has shuttered major manufacturing hubs and disrupted supply chains. In turn, credit demand and repayment abilities of both firms and individuals diminished, which exposed the banking system to deterioration in financial performance and risks of increased defaults.
Download Full Report: https://bit.ly/Vietnam-Banking-Report-2021
The document is an IR presentation that provides an overview of Vietnam's macroeconomic environment and banking industry in the first section. It then discusses VietinBank specifically, including its mission/vision, organizational structure, investment highlights, and 2019 performance. Key points covered include stable macroeconomic growth in Vietnam, improvements in the banking industry's profitability and asset quality, VietinBank's extensive network and support from major shareholders, and its stable funding growth and improved profitability in 2019.
The document is an IR presentation that provides an overview of Vietnam's macroeconomics and banking industry environment (Section 1), general information about VietinBank including its mission, vision, awards, and organizational structure (Section 2), highlights of VietinBank as an investment including its innovation, network, shareholders, technology, and customer base (Section 3), and VietinBank's financial performance in 2019 (Section 4). Key points include stable macroeconomic growth in Vietnam, improved profitability and asset quality in the banking sector, VietinBank's extensive domestic and international network, support from major shareholders MUFG and SBV, advanced technology platform, and stable funding and credit growth with improved profitability for VietinBank in 2019.
The Consumer Finance (CF) market has witnessed significant growth of 59% annually over the period of 2014-2018. The last year has been particularly eventful, with at least four new entrants to the market (VietCredit, EasyCredit, Lotte Finance, SHB Finance), putting pressure on the market shares of the Big Four (FE Credit, Home Credit, HD Saison and Prudential Finance). M&A market was also active, as companies with CF license became hot targets for acquisitions. Overall, given the market’s growth potential, interest from domestic and international were heightened significantly.
However, as more competitors enter the market, more concerns have been raised regarding some of the high-risk products such as unsecured cash loans, as well as social impact from debt collection activities. The State Bank of Vietnam (SBV) has tightened its supervision and monitoring on FinCos’ operations and lending activities, such as the draft for amendment of Circular 43/2016/TT-NHNN, putting a limit on the percentage of cash loans in FinCos’ portfolios, and restrictions on debt collecting activities to protect consumers from unprofessional debt collectors.
Download pdf here: https://bit.ly/2NjOmlw
July 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS :Banking Industry
COMPANY ANALYSIS : ICICI Bank
Concept of the Month
Quiz
Did You Know?
This is the third half-year version in addition to the full-year review report series for Vietnam Consumer Finance Market. Our report provides updated information with emphasis on in-depth analysis of market share and financial performance amongst key players, the development of each product segment, prominent product trends as well as new market entrants’ movements.
FULL Report: https://fiinresearch.vn/Store/ReportDetails?id=149705
After a period of strong loan book growth during 2013-2017, Vietnam has witnessed a slowdown - the national loan book grew by 14% in 2018 compared to 18% in 2017. Concerns about aggressive lending practices, and the possible risk in the real estate and non-production sectors have resulted in a tightening of regulations by the State Bank of Vietnam (SBV). Additionally, the focus was on resolving the legacy bad debt with the resulting non-performing loans ratio (NPL) at only 1.89% by YE2018. Considering these events, the SBV also set a modest target of 14% YoY credit growth for 2019.
The strongest driver for credit growth, the consumer finance market, has been maturing after several years of exponential growth. In 2018, CF increased its contribution to the national loan book, at 19.7%, compared to 16.7% in 2017. At the same time, although the market has been growing at 59% YoY for the last five years, in 2018, the overall growth registered at 30.4%. The slowdown is attributed to the market’s development, growing from a larger base, the increasing exposure to real estate loans, as well as the saturation of some of CF key products such as installment loans for home appliances and consumer electronics.
Download pdf here: https://bit.ly/2RDrUm3
Retail asset products of bank of barodaDivya Agarwal
This document presents a summer internship presentation on analyzing retail asset products of marketing in a competitive environment at Bank of Baroda. It provides an overview of Bank of Baroda, including its profile, products offered, and objectives of the study. Data was collected through interviews and questionnaires from existing and new customers. Key findings include that only 19.6% of respondents took education loans, while 33.3% were dissatisfied with paper formalities and 15.7% were dissatisfied with loan sanction times. Suggestions include reducing interest rates and paper formalities, and approving loans faster to increase customer satisfaction.
Consumer Finance in Vietnam - First-Half 2020 ReviewFiinGroup JSC
Consumer finance in Vietnam, 1H2020 review
For the first time in a decade, Vietnam consumer finance market experienced a single-digit growth rate (9.2% YoY in the first half of 2020), following aggressive credit growth over the past few year. This is attributed to the dual challenge posed by COVID-19 pandemic and tightening regulations on cash loans disbursement prescribed at Circular 18/2019. However, despite the modest growth rate, Vietnam consumer finance maintained a contribution of over 20% of the country loan book.
Access our FULL Report at: http://fiinresearch.vn/Reports/21597-consumer-finance-in-vietnam-first-half-2020-review--.html
#consumerfinance #fincos #vietnam #marketresearch #industryreport #1H2020 #FiinGroup #FiinResearch
Hoang Vinh Insights for US Banks in Vietnam 2014Vinh Hoang
Vinh Hoang has analyzed key economic driving components for U.S. banks' CEOs and global business operations directors to review and make right decision. He has also suggested why U.S. banks are supposed to invest more in Vietnam to anticipate Vietnam's GDP growth of $1 trillion in 2043.
Global Banking Industry Insights- DigitantDigitant
The global banking industry is growing rapidly, especially in developing countries. Assets in the industry are estimated to climb to $171760.3 billion by 2017, with an anticipated annual growth rate of 6-8% over the next five years. Europe currently dominates the global banking market with 43% share, but the Asia-Pacific region is growing at 10-15% annually and is expected to become a larger market in the future. Technological innovation, expanding into developing countries, and adapting to changing customer needs through digital channels will be important trends shaping the future of the global banking industry.
The latest logistics news and updates in Vietnam and the outlook for 2021. Don’t miss this chance to get informed and connect with us at info@mplogistics.vn
The document discusses three activities related to financial services:
1. Where individuals keep their money, including alternatives to banks and FDIC insurance.
2. Evaluating formal and informal financial services, comparing costs of alternatives to bank accounts.
3. Traditional and expanded banking services, including the impact of the Financial Services Modernization Act and banks' community involvement.
Customers are showing growing satisfaction with their financial institutions and online banking websites. While interest is high in services like bill pay, personal financial management, alerts and mobile banking, actual usage of these services remains relatively low indicating opportunities for banks to increase adoption. Personal financial management tools in particular have low penetration rates, with awareness exceeding actual usage even among large banks.
Vietnam’s consumer finance (CF) market (by commercial banks & FinCos) has dipped to low double-digit growth (10.7%YoY, 2020) after a year of hardship. However, despite the headwinds, Vietnam CF managed to secure over 20% of the country loan book.
The unprecedented COVID-19 outbreak accelerated the following key trends in the CF market:
The pandemic prompted the acceleration of the digital transformation of customer journey amongst FinCos
The launch of mobile money and the booming of digital payment brought both challenges and opportunities for FinCos, especially their credit card business
M&A emerged as the game-changer to foster future growth given the strong growth potential of the CF market and the Government’s policies that support sector consolidation and expansion of FinCos to repel black credit market.
Download FULL report: https://bit.ly/vietnam-consumer-finance-report-2021
The retail banking industry faces opportunities for growth despite challenges from regulations and competition. Key trends include deregulation, rising competition from other financial institutions, the use of new technologies, and globalization. India represents a major opportunity for growth in retail banking due to its rising middle class and consumer purchasing power. However, banks must innovate, reduce costs, pursue mergers and acquisitions, and protect consumer interests to capitalize on the opportunities in retail banking.
Although banks have a higher risk perception of the MSME sector, they continue to be the key players in formal financing. The higher share of bank supply can be attributed primarily to Priority Sector Lending (PSL). PSL guidelines require banks to allocate sizeable share of their credit portfolio to micro and small enterprises.
Iress mortgage efficiency survey report 2014 Henry Woodcock
The IRESS mortgage efficiency survey measures and benchmarks key performance indicators for mortgage lenders. This is the third year of the survey so we are also able to look at developing trends over the three year period.
In all the participants represent a 66% market share of gross lending equating to just under £120bn of mortgage loans.
The document summarizes key concerns and outlook for banks in Indonesia based on meetings with banks and companies during a recent trip to Indonesia. The top three concerns expressed by banks are: 1) currency volatility due to the rupiah's large depreciation, 2) increasing regulatory intervention, and 3) potential delays in government spending if the tax revenue target is missed. Large banks are expected to see slowing earnings growth while smaller banks should see a recovery as margins improve and credit costs stabilize. Among smaller banks, BTPN is the preferred pick.
Singularity U - Future of Consumer FinanceBrent Dixon
The document discusses opportunities in the future of consumer finance, including increasing access to capital through alternative lending models like peer-to-peer lending and microfinance. It also discusses opportunities to decentralize power by expanding cooperative and credit union models, as well as using technology and collaborative networks to connect producers and consumers in new ways that could change lives globally.
The document provides an overview of the interim permission and full authorization processes firms must go through to be regulated by the Financial Conduct Authority (FCA) for consumer credit activities. It discusses what interim permission allows, how to register for it, and obligations during the interim period. It then outlines the full authorization application process, including required documentation, threshold conditions, alternatives to authorization, and timelines firms should expect. The document aims to help firms navigate the transition to the new regulatory regime for consumer credit which begins on April 1, 2014.
FiinResearch is pleased to introduce Vietnam Banking Report 2021, a report that covers banking performance review, market trends, policy & regulatory framework updates.
What’s new?
2021 remained a tough year with the emergence of the fourth wave since the end of April, which has shuttered major manufacturing hubs and disrupted supply chains. In turn, credit demand and repayment abilities of both firms and individuals diminished, which exposed the banking system to deterioration in financial performance and risks of increased defaults.
Download Full Report: https://bit.ly/Vietnam-Banking-Report-2021
The document is an IR presentation that provides an overview of Vietnam's macroeconomic environment and banking industry in the first section. It then discusses VietinBank specifically, including its mission/vision, organizational structure, investment highlights, and 2019 performance. Key points covered include stable macroeconomic growth in Vietnam, improvements in the banking industry's profitability and asset quality, VietinBank's extensive network and support from major shareholders, and its stable funding growth and improved profitability in 2019.
The document is an IR presentation that provides an overview of Vietnam's macroeconomics and banking industry environment (Section 1), general information about VietinBank including its mission, vision, awards, and organizational structure (Section 2), highlights of VietinBank as an investment including its innovation, network, shareholders, technology, and customer base (Section 3), and VietinBank's financial performance in 2019 (Section 4). Key points include stable macroeconomic growth in Vietnam, improved profitability and asset quality in the banking sector, VietinBank's extensive domestic and international network, support from major shareholders MUFG and SBV, advanced technology platform, and stable funding and credit growth with improved profitability for VietinBank in 2019.
The Consumer Finance (CF) market has witnessed significant growth of 59% annually over the period of 2014-2018. The last year has been particularly eventful, with at least four new entrants to the market (VietCredit, EasyCredit, Lotte Finance, SHB Finance), putting pressure on the market shares of the Big Four (FE Credit, Home Credit, HD Saison and Prudential Finance). M&A market was also active, as companies with CF license became hot targets for acquisitions. Overall, given the market’s growth potential, interest from domestic and international were heightened significantly.
However, as more competitors enter the market, more concerns have been raised regarding some of the high-risk products such as unsecured cash loans, as well as social impact from debt collection activities. The State Bank of Vietnam (SBV) has tightened its supervision and monitoring on FinCos’ operations and lending activities, such as the draft for amendment of Circular 43/2016/TT-NHNN, putting a limit on the percentage of cash loans in FinCos’ portfolios, and restrictions on debt collecting activities to protect consumers from unprofessional debt collectors.
Download pdf here: https://bit.ly/2NjOmlw
July 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS :Banking Industry
COMPANY ANALYSIS : ICICI Bank
Concept of the Month
Quiz
Did You Know?
This is the third half-year version in addition to the full-year review report series for Vietnam Consumer Finance Market. Our report provides updated information with emphasis on in-depth analysis of market share and financial performance amongst key players, the development of each product segment, prominent product trends as well as new market entrants’ movements.
FULL Report: https://fiinresearch.vn/Store/ReportDetails?id=149705
After a period of strong loan book growth during 2013-2017, Vietnam has witnessed a slowdown - the national loan book grew by 14% in 2018 compared to 18% in 2017. Concerns about aggressive lending practices, and the possible risk in the real estate and non-production sectors have resulted in a tightening of regulations by the State Bank of Vietnam (SBV). Additionally, the focus was on resolving the legacy bad debt with the resulting non-performing loans ratio (NPL) at only 1.89% by YE2018. Considering these events, the SBV also set a modest target of 14% YoY credit growth for 2019.
The strongest driver for credit growth, the consumer finance market, has been maturing after several years of exponential growth. In 2018, CF increased its contribution to the national loan book, at 19.7%, compared to 16.7% in 2017. At the same time, although the market has been growing at 59% YoY for the last five years, in 2018, the overall growth registered at 30.4%. The slowdown is attributed to the market’s development, growing from a larger base, the increasing exposure to real estate loans, as well as the saturation of some of CF key products such as installment loans for home appliances and consumer electronics.
Download pdf here: https://bit.ly/2RDrUm3
Retail asset products of bank of barodaDivya Agarwal
This document presents a summer internship presentation on analyzing retail asset products of marketing in a competitive environment at Bank of Baroda. It provides an overview of Bank of Baroda, including its profile, products offered, and objectives of the study. Data was collected through interviews and questionnaires from existing and new customers. Key findings include that only 19.6% of respondents took education loans, while 33.3% were dissatisfied with paper formalities and 15.7% were dissatisfied with loan sanction times. Suggestions include reducing interest rates and paper formalities, and approving loans faster to increase customer satisfaction.
Consumer Finance in Vietnam - First-Half 2020 ReviewFiinGroup JSC
Consumer finance in Vietnam, 1H2020 review
For the first time in a decade, Vietnam consumer finance market experienced a single-digit growth rate (9.2% YoY in the first half of 2020), following aggressive credit growth over the past few year. This is attributed to the dual challenge posed by COVID-19 pandemic and tightening regulations on cash loans disbursement prescribed at Circular 18/2019. However, despite the modest growth rate, Vietnam consumer finance maintained a contribution of over 20% of the country loan book.
Access our FULL Report at: http://fiinresearch.vn/Reports/21597-consumer-finance-in-vietnam-first-half-2020-review--.html
#consumerfinance #fincos #vietnam #marketresearch #industryreport #1H2020 #FiinGroup #FiinResearch
Hoang Vinh Insights for US Banks in Vietnam 2014Vinh Hoang
Vinh Hoang has analyzed key economic driving components for U.S. banks' CEOs and global business operations directors to review and make right decision. He has also suggested why U.S. banks are supposed to invest more in Vietnam to anticipate Vietnam's GDP growth of $1 trillion in 2043.
Global Banking Industry Insights- DigitantDigitant
The global banking industry is growing rapidly, especially in developing countries. Assets in the industry are estimated to climb to $171760.3 billion by 2017, with an anticipated annual growth rate of 6-8% over the next five years. Europe currently dominates the global banking market with 43% share, but the Asia-Pacific region is growing at 10-15% annually and is expected to become a larger market in the future. Technological innovation, expanding into developing countries, and adapting to changing customer needs through digital channels will be important trends shaping the future of the global banking industry.
The latest logistics news and updates in Vietnam and the outlook for 2021. Don’t miss this chance to get informed and connect with us at info@mplogistics.vn
The document discusses three activities related to financial services:
1. Where individuals keep their money, including alternatives to banks and FDIC insurance.
2. Evaluating formal and informal financial services, comparing costs of alternatives to bank accounts.
3. Traditional and expanded banking services, including the impact of the Financial Services Modernization Act and banks' community involvement.
Customers are showing growing satisfaction with their financial institutions and online banking websites. While interest is high in services like bill pay, personal financial management, alerts and mobile banking, actual usage of these services remains relatively low indicating opportunities for banks to increase adoption. Personal financial management tools in particular have low penetration rates, with awareness exceeding actual usage even among large banks.
Vietnam’s consumer finance (CF) market (by commercial banks & FinCos) has dipped to low double-digit growth (10.7%YoY, 2020) after a year of hardship. However, despite the headwinds, Vietnam CF managed to secure over 20% of the country loan book.
The unprecedented COVID-19 outbreak accelerated the following key trends in the CF market:
The pandemic prompted the acceleration of the digital transformation of customer journey amongst FinCos
The launch of mobile money and the booming of digital payment brought both challenges and opportunities for FinCos, especially their credit card business
M&A emerged as the game-changer to foster future growth given the strong growth potential of the CF market and the Government’s policies that support sector consolidation and expansion of FinCos to repel black credit market.
Download FULL report: https://bit.ly/vietnam-consumer-finance-report-2021
The retail banking industry faces opportunities for growth despite challenges from regulations and competition. Key trends include deregulation, rising competition from other financial institutions, the use of new technologies, and globalization. India represents a major opportunity for growth in retail banking due to its rising middle class and consumer purchasing power. However, banks must innovate, reduce costs, pursue mergers and acquisitions, and protect consumer interests to capitalize on the opportunities in retail banking.
Although banks have a higher risk perception of the MSME sector, they continue to be the key players in formal financing. The higher share of bank supply can be attributed primarily to Priority Sector Lending (PSL). PSL guidelines require banks to allocate sizeable share of their credit portfolio to micro and small enterprises.
Iress mortgage efficiency survey report 2014 Henry Woodcock
The IRESS mortgage efficiency survey measures and benchmarks key performance indicators for mortgage lenders. This is the third year of the survey so we are also able to look at developing trends over the three year period.
In all the participants represent a 66% market share of gross lending equating to just under £120bn of mortgage loans.
The document summarizes key concerns and outlook for banks in Indonesia based on meetings with banks and companies during a recent trip to Indonesia. The top three concerns expressed by banks are: 1) currency volatility due to the rupiah's large depreciation, 2) increasing regulatory intervention, and 3) potential delays in government spending if the tax revenue target is missed. Large banks are expected to see slowing earnings growth while smaller banks should see a recovery as margins improve and credit costs stabilize. Among smaller banks, BTPN is the preferred pick.
Singularity U - Future of Consumer FinanceBrent Dixon
The document discusses opportunities in the future of consumer finance, including increasing access to capital through alternative lending models like peer-to-peer lending and microfinance. It also discusses opportunities to decentralize power by expanding cooperative and credit union models, as well as using technology and collaborative networks to connect producers and consumers in new ways that could change lives globally.
The document provides an overview of the interim permission and full authorization processes firms must go through to be regulated by the Financial Conduct Authority (FCA) for consumer credit activities. It discusses what interim permission allows, how to register for it, and obligations during the interim period. It then outlines the full authorization application process, including required documentation, threshold conditions, alternatives to authorization, and timelines firms should expect. The document aims to help firms navigate the transition to the new regulatory regime for consumer credit which begins on April 1, 2014.
This document discusses strategic cost management for mortgage lenders and consumer finance companies. It outlines four critical elements to deliver sustainable cost reduction: 1) Develop a strong foundation by defining a compelling cost reduction story and framework; 2) Create breathing space through aggressive short-term cuts; 3) Look at the system as a whole to identify opportunities across the organization; and 4) Embed a cost-conscious culture through leadership and accountability. Effective cost management requires buy-in from executive leadership and a well-structured program to identify, approve, and deliver cost savings initiatives.
A presentation a friend and I worked on while brainstorming ideas for a technology startup. Our objective was to explore opportunities in industries we're familiar with and industries we believe are ripe for disruption. The presentation lays out key industry metrics and profiles successful companies (somewhat startup-focused) within each industry.
Инфраструктура Арктических регионов для добычи и вывоза жидких углеводородовАлександр Головизнин
5 октября Морстройтехнология провела секционное заседание «Оптимизация логистики как путь к повышению эффективности» в рамках программы Пятой международной конференции по развитию портов и судоходства «ТРАНСТЕК-2016».
Мы предлагаем вашему вниманию презентацию и видеозапись выступления Софьи КАТКОВОЙ, ООО «Морстройтехнология» "Инфраструктура Арктических регионов для добычи и вывоза жидких углеводородов".
This document outlines editorial offerings from ICIS Custom Publishing to help companies communicate targeted messages to the chemical industry. Services include printed supplements, electronic publications, TV/radio productions, roundtable discussions, awards sponsorship, and surveys. Recent clients utilized these options to communicate strategies, investments, and industry issues. Interested companies should contact the listed representative to discuss customizing an offering.
The document provides an overview of Vietnam's fertilizer market from 2010-2015. It finds that total fertilizer consumption reached approximately 10.8 million tons in 2014, with a growth rate of 4.2%. NPK fertilizer has the largest market share at around 37% of total consumption. While Vietnam now supplies most of its domestic fertilizer demand through domestic production, some nutrients like SA and potassium still rely entirely on imports. The fertilizer distribution system in Vietnam is fragmented with manufacturers, traders, distributors and agents all involved in distribution. The top ten listed fertilizer companies are also analyzed based on assets, revenue, EBITDA and returns.
Комплексный логистический сервис в условиях Крайнего Севера: реализация масшт...Александр Головизнин
СИЧИНАВА Дмитрий, Руководитель департамента агентских перевозок ООО "Логистика Северо-Европейских Газопроводов" (ООО "ЛСЕГ") «Комплексный логистический сервис в условиях Крайнего Севера: реализация масштабных инфраструктурных проектов России»
Секционное заседание «Оптимизация логистики как путь к повышению эффективности» ООО "Морстройтехнология" 5.10. 2016 в равках конференции Транстэк 2016
Синхронизация развития железной инфраструктуры и портов: современное состояниеАлександр Головизнин
Выступление Павла ТЕРЕШКО, Руководителя отдела комплексных исследований Департамента исследований железнодорожного транспорта АНО «Институт Проблем естественных монополий» на секционном заседание «Оптимизация логистики как путь к повышению эффективности» проведенном ООО "Морстройтехнология" 5.10. 2016 в рамках конференции ТРАНСТЭК 2016
Организация взаимодействия порта и железной дороги на примере порта ГамбургАлександр Головизнин
Выступление Натальи Капкаевой на Секционном заседании «Оптимизация логистики как путь к повышению эффективности» ООО "Морстройтехнология" 5.10. 2016. В рамках конференции Транстэк 2016
Выступление Дениса НЕГОДАЕВА, Директора представительства «Трансфеника» на секционном заседании «Оптимизация логистики как путь к повышению эффективности» проведенном ООО "Морстройтехнология" 5.10. 2016 в рамках конференции ТРАНСТЭК 2016
Конкуренция С.-Петербурга и Новороссийска в борьбе за экспортные Ро-Ро грузоп...Александр Головизнин
5 октября Морстройтехнология провела секционное заседание «Оптимизация логистики как путь к повышению эффективности» в рамках программы Пятой международной конференции по развитию портов и судоходства «ТРАНСТЕК-2016».
Мы предлагаем вашему вниманию презентацию и видеозапись выступления Дмитрия Самарского, TMBC Logistics Ltd "Конкуренция С.-Петербурга и Новороссийска в борьбе за экспортные Ро-Ро грузопотоки".
Опыт эффективного взаимодействия на стыке порт-железная дорога на примере пор...Александр Головизнин
Выступление Игоря ЕВСТАФЬЕВА, Генерального директора, АО «ПУЛ транс» на секционном заседании «Оптимизация логистики как путь к повышению эффективности» проведенном ООО "Морстройтехнология" 5.10. 2016 в рамках конференции ТРАНСТЭК 2016
Выступление КОЛЯГИНА Сергея, Заместителя генерального директора АО «Беломортранс» на Секционном заседании «Оптимизация логистики как путь к повышению эффективности» ООО "Морстройтехнология" 5.10. 2016. В рамка ансх конференции Транстэк 2016
Важнейшие экспедиции в период освоения Арктики с древнейших времен до XX векаАлександр Головизнин
В статье приведен краткий обзор основных арктических исследовательских экспедиций, которые, по мнению авторов, оказали наиболее значительное влияние на освоение и развитие северного региона нашей страны. Затронут временной промежуток с XI до XX века от хождений поморов по северным землям Руси и арктическим морям до первой в истории надводной экспедиции к Северному полюсу на российском атомном ледоколе «Арктика».
В хронологическом порядке кратко описаны следующие экспедиции в Арктику и их научный вклад в освоение региона: походы жителей северных поселений Руси, английские и голландские экспедиции XVI в., экспедиция С. Дежнева и Ф. Попова, Великая Северная экспедиция под предводительством Витуса Беринга и Первая полярная научная экспедиция по плану М.В. Ломоносова, экспедиция шведа Нильса Норденшёльда и норвежца Фритьофа Нансена, Русская полярная экспедиция под руководством Э.В. Толля, экспедиции на первом ледокольном пароходе «Ермак», а также вторая Гидрографическая экспедиция Северного-Ледовитого океана (1910 - 1915), экспедиции плавучего института Плавморнин и экспедиции под руководством О.Ю. Шмидта (1929, 1930, 1932, 1933-34, 1937). Заканчивается обзор экспедицией атомного ледокола «Арктика» к северному полюсу и первыми авиационными арктическими полетами.
Маршруты всех описанных экспедиций, а также неупомянутых в данной статье, приведены на карте-схеме, разработанной авторами в формате DWG. Интерактивная карта позволяет в хронологической последовательности ознакомиться с маршрутами полярных исследователей, просмотреть пути экспедиций отдельно или совместно с другими маршрутами, увидеть постепенное продвижение экспе�
Возможности использования контейнеров для перевалки навалочных грузовАлександр Головизнин
В Росси с 90-х использовали в портах контейнеры для погрузки навала.
Но всегда груз высыпался через дверь, наклоном контейнера.
Дверь открывалась в основном в ручную. Чаще ксего путем дергания веревки.
В Усть-Луге работает ссмрт-балк терминал. Там Ультрамар (Экспедитор Фосагро) внедрил схему, когда спредер снабжен специальным механизмомо наклона и рукой для открытия контейнера.
Дальше. Для перевозки навала в контейнерах по сети РЖД обязательно использовать вкладыш в контейнер и ставить дополнительный щит или металические упоры в двери.
Т.е. привезти по жд и высыпать в трюм не представлялось возможным.
Правда Ультрамар сертифицироваал свой контейнер для перевозки по жд без вкладыша и щита и теперь (уже третий месяц) возят по 12 маршрутов в месяц.
В мире пошли по другому пути.
Там разработана технология проворачивания контейнера на 360 вокруг длинной оси. при этом спредер еще и снимает верхнюю крышку сам.
Но здесь проблема в том, что контейнер брутто весит 45 тонн.
Т.е на контейнерную платформу (РЖДшную) его не поставить.
Да еще и крышка там такая, что получить разрешение для работы на сети просто не реально.
Стандартный же ИСОшный контейнер для такой работы не подходит.
он не расчитан на такую работу. Ни по раме, ни по бортовой обшивке.
т.е. борт контейнера не выдержит массу груза при повороте, и раму перекосит.
Наша питерская небольшая компания разработала конструкцию контейнера который не только может использоваться с РАМспредером, но и построен по требования РЖД. Т.е. в нем можно перевозить навал по сети РЖД.
Сейчас контейнер изготовлен в железе. Прошел испытания регистра.
На этой неделе первй экземпляр привезли в Питер.
Сайт разработчика http://kotta-container.com/
Что еще можно добавить. Контейнерн расчитан для грузов с высокой удельной погрузочной массой. От тонны и выше.
встает на стандартную контейнерную платформу, цепляется тандартным контейнерным оборудованием.
Но по росту он существенно ниже.
т.е в жд габарит проходит платформа с двумя ящиками поставленными друг на друга.
Vietnam Consumer Finance Report 2020: Challenges and opportunities for getting ahead
The 2019 has been particularly eventful, with the revival of at least two previously inactive FinCos to the market (PTFinance, FCCOM), putting pressure on the market shares of the incumbents. CF increased its contribution to national loan book to 20.5% in 2019, up from the 19.6% in 2018. Given the current market size, CF penetration in Vietnam is currently considered slow compared to its regional peers, signifying an attractive growth prospect.
Assess to our FULL REPORT: http://fiinresearch.vn/Reports/20AA1-vietnam-consumer-finance-report-2020-.html
This document provides an overview of macroeconomic conditions and the banking industry in Vietnam, and details about VietinBank. The macroeconomic section notes GDP growth rates from 2015 to the first half of 2020, inflation rates, unemployment, export/import figures, FDI, and exchange rates. It also discusses credit growth and profitability in the banking industry. The document then profiles VietinBank, outlining its history, mission, organizational structure, investment highlights including a strong innovation focus, extensive network, credit ratings, technology platform, and human resources. Performance metrics and business orientation for 2020 are also reviewed.
The document provides an overview of the Indian banking industry. It discusses key trends such as rising credit growth, increasing assets and money supply, and growing interest income. Technology innovations and policy support are driving factors for future banking sector expansion. However, non-performing assets pose a risk, which regulators are taking steps like debt resolution plans and enhanced KYC checks to mitigate. Overall the market outlook for Indian banks remains positive due to continued economic growth, infrastructure investments, and banks' focus on new technologies.
VietinBank is a leading bank in Vietnam that was established in 1988. It has grown significantly since becoming a joint stock company in 2009. As of 2010, VietinBank had a market share of over 12% in assets, deposits, and loans. It provides a wide range of banking products and services and has the second largest branch network in Vietnam. Going forward, VietinBank aims to further expand its business and market share while strengthening risk management, corporate governance, and financial stability.
This document provides an overview of VietinBank, a leading bank in Vietnam, covering its history, operations, financial performance, strategic objectives, and asset quality. Some key points:
- VietinBank was established in 1988 and underwent an IPO in 2008, becoming a joint stock bank.
- As of 2010, it had a 12.7% market share in assets and was Vietnam's second largest bank by branch network.
- It offers a range of banking products and services and has a strong domestic network and some international branches.
- Strategic objectives include increasing market share, improving technology and risk management, and becoming a leading financial group.
- Asset quality is strong with low non-performing
The document discusses strategies for the Bank of Moscow to help establish Moscow as an international financial center. It identifies target customer segments for the Bank based on a SWOT analysis, including young leaders, affluent middle-aged, active middle-aged, and rational youth. The strategy proposes focusing on increasing financial literacy, developing products tailored for each segment, and investing in personnel training to capture more customers and investments. Projections estimate the strategies could increase the Bank's investments in Moscow by over 150% by 2016.
Masan Holding phân tích và chia sẻ về thị trường đầu tư Việt Nam 2014Duy, Vo Hoang
This document provides an analysis of the Vietnamese retail market conducted by Phuong Nguyen for her thesis at Helsinki Metropolia University of Applied Sciences. The analysis focuses on the retail strategies of Vinmart, the supermarket chain owned by Vietnamese conglomerate Vingroup. The document provides an overview of Vietnam's growing retail market, describes Vingroup's expansion into the retail sector, and analyzes Vinmart's competitive strategies and opportunities in competing with other domestic and international retailers in Vietnam.
The document provides an economic update from Commercial Bank of Ceylon for April 2011. It mentions that the bank's first quarter net profit rose 86% year-over-year due to lower taxation. It also reports that the bank was named Sri Lanka's best bank for the 13th consecutive year by Global Finance magazine. Finally, it notes that the Central Bank of Sri Lanka raised reserve requirements for banks from 7% to 8% to curb inflation.
This document provides an overview and analysis of Vietnam's economy and consumer market. Some key points:
- Vietnam's GDP growth has remained stable over the past decade at around 6-7% annually. Inflation has been under control.
- Emerging trends like e-commerce, omnichannel retail, and strategic brand-retailer partnerships are enabling further development of Vietnam's consumer market.
- Urban consumers are more educated and connected than in the past, but food safety, health, and environmental issues remain top concerns.
- Household incomes and purchasing power continue rising, growing the middle and upper classes. However, fresh food and consumer goods still account for most consumer spending.
China banking intermediary business report, 2011ResearchInChina
This document analyzes the development of intermediary business in the Chinese and foreign banking industries from 2007 to 2011. It finds that the intermediary business of Chinese banks has grown significantly in recent years, with revenue increasing 45.96% year-over-year in the first half of 2011. It also notes that the intermediary business is highly concentrated among the largest Chinese banks and has been growing faster for joint-stock banks than state-owned banks. The document then examines the intermediary business lines and performance of individual major Chinese banks.
This document provides an overview of Vietcombank, including its vision, mission, organizational structure, and strategic analysis. Vietcombank was established in 1963 and its vision is to become one of the largest financial groups in Asia and among the top 300 financial institutions globally by 2020. The document discusses Vietcombank's strengths, weaknesses, opportunities, and threats through a SWOT analysis. It also provides recommendations for Vietcombank's 2017 objectives and policies to increase revenue by 25% and become the bank with the lowest lending rate, including initiatives around customers, managers/employees, operations, and social responsibility.
The document discusses financial inclusion and literacy in India. It defines financial inclusion as ensuring access to appropriate financial products and services for vulnerable groups. Financial literacy and inclusion are described as twin pillars, with literacy stimulating demand and inclusion supplying services. The Reserve Bank of India's strategies for financial inclusion include refining credit delivery, strengthening credit absorption, leveraging technology, and increasing access points like business correspondents in villages. Financial literacy initiatives involve education programs, outreach events, and collaboration between government, banks, and other organizations.
The document reports on findings from a Vietnam consumer survey conducted during COVID-19 which show that while consumer spending has shifted towards necessities, sentiment remains optimistic. It examines consumer behavior through the lenses of four personas and explores changes in their heart (sentiment), wallet (spending), and mind (purchasing drivers). Key findings include a boost in digital behavior but continued preference for physical shopping, as well as a desire for better purchasing experiences.
Sanjoy Sen - Fleming Gulf 6th Annual Retail Banking Conference - Key Note Pre...Sanjoy Sen
The document discusses strategies for retail banks in the Middle East to adapt to changes in the regulatory and consumer landscape. It recommends focusing on digitizing services, innovating products, building scale and brand, offering offshore propositions, and becoming more customer-centric. It also stresses the need to streamline organizations by diversifying geographies, restructuring operating models, reengineering expenses, and preparing for uncertainty through scenario planning. The presentation provides retail banks a framework to succeed in the "New Retail Banking Order".
The survey found that Vietnamese consumers are optimistic about the future economic outlook and their own financial situations. Most plan to increase spending in the coming year. While consumers across cities spend 40-50% of monthly household expenses on basic necessities, there are some differences in spending patterns between cities. Consumer electronics account for 10-13% of spending, while recreational goods and welfare/leisure each make up 4-6% on average. Overall, Vietnamese consumers displayed confidence in continued economic and personal income growth in the near future.
FiinResearch - Consumer Finance in Vietnam First-half 2021 ReviewFiinGroup JSC
This Consumer Finance Report provides in-depth analysis of market share and financial performance amongst key players, the development of each product segment, prominent product trends as well as new market entrants’ movements
The consumer finance market of Vietnam has not yet recovered from the COVID-19 shock. The market expanded by 7% YTD in 1H2021, mainly driven by banks, as FinCos’s were hit harder due to massive closure of POS network following lock-down and social distancing orders in many cities and provinces.
Download FULL report: https://bit.ly/Consumer-Finance-Vietnam-1H2021
The document provides an overview of macroeconomic conditions in Vietnam and the banking industry in 1Q2020. It then discusses VietinBank, including key milestones, mission/vision, organizational structure, and investment highlights such as an extensive network, high credit ratings, innovation, and strong support from shareholders. Performance results and business orientation for 2020 are also mentioned.
VietinBank provided an investors update covering 3Q2020 and 9M2020 performance. Key highlights included:
- Vietnam's economy is forecast to grow 2-3% in 2020 despite challenges from COVID-19. Credit growth was improving in September.
- VietinBank has a strong brand, extensive domestic and international network, and support from major shareholders State Bank of Vietnam and MUFG.
- In 3Q2020 and 9M2020, VietinBank saw growth in key metrics like deposits, loans, and digital adoption despite economic headwinds.
VietinBank is one of Vietnam's leading banks that was established in 1988. It has a large network of over 1,000 branches and offices across Vietnam and internationally. The presentation reviewed VietinBank's 1H2016 performance, strategic objectives, and compared its financial figures to other major Vietnamese banks. Key highlights included its dominant market share, strong brand recognition, solid management structure, and goals of strengthening capital base while expanding market share and distribution network.
Similar to Consumer finance-market-customer-survey-2015 demo-20150811173108 (20)
Vietnam fertilizer sector witnessed a total consumption of US$3.87bn, posting a growth of 4 per cent year-on-year. Meanwhile, exporting volume was pegged at 1,101 thousand MT, valuing at US$419mn. Under our base case, which is a prudent scenario based on analysis of macroeconomics and fertilizer demand factors such as crops, regions, and cultivation habits, we forecast a 4% annual demand growth for fertilizer until 2025.
StoxPlus is pleased to Vietnam Cement Market Report 2015, the third issue on this industry. This report presents a board range of topics, both sector-specific and cross-cutting market issues.
Besides updating Vietnam cement market size and competition dynamics, StoxPlus provides an in-depth analysis on distribution channel as well as pricing of different cement brands. Furthermore, financial benchmarking on a typical cement company in the Central, particularly the impacts of freight cost to final cement price, is also included. The report is expected to provide useful market information for new companies looking to penetrate into the market, as well as existing cement manufacturers to get an updated view on competition.
1. Vietnam's retail market has experienced high growth in recent years and is one of the most dynamic markets in the region. Total retail sales increased 11.12% in the first nine months of 2014, earning over 2 trillion VND. Retail contributes 15% to Vietnam's GDP.
2. Major foreign retailers like Lotte and Aeon have established a strong presence in Vietnam. Other retailers such as Walmart, Auchan, and Robinson have started retail operations in Vietnam.
3. Supermarkets have the largest market share at 46%, followed by shopping centers at 31% and department stores at 14%. FoocoMart-Vissan and Shop&Go have the largest market shares of individual retailers at 18%
Vietnam's plastic packaging market was worth $3.9 billion in 2014, growing at a CAGR of 13.9% from 2010 to 2014. Flexible packaging and PET bottles were the largest segments, accounting for 21% and 17% of the market, respectively. The market is fragmented with over 700 firms as of 2014, and growth is expected to continue at 15-20% annually through 2020 due to increasing demand from beverages and packaged foods. The document provides market segmentation, structure, key players, and contact information for further inquiries.
The Vietnamese pharmaceutical market was valued at VND80,679 billion in 2014 and is expected to grow at a compound annual growth rate of 15.1% to reach VND139,832 billion by 2018. Currently over 50% of domestic demand is met through imports as domestic firms face competition from foreign companies with more advanced technology. However, Vietnam's growing and increasingly health-conscious population represents opportunities for future growth in the pharmaceutical industry. The top 10 listed pharmaceutical companies in Vietnam by market share are led by Vimedimex Medi-Pharma with a 14.6% share.
1. Vietnam's logistics market is currently worth $60 billion and growing at 20-25% annually. There are around 1,000 logistics firms operating in Vietnam, with 25 being foreign firms that hold 80% of the total market share worth $48 billion.
2. Foreign ocean shipping companies totally dominate the ocean shipping market in Vietnam. Many seaports and airports lack supporting distribution centers, resulting in increased costs for transport via truck, ship, and plane.
3. The logistics sector is expected to continue growing at an annual rate of 20-25% over the next 5 years, fueled by increasing foreign investment in Vietnam from multinational companies like Nike, Intel, and Samsung.
The document analyzes the housing builder industry in Vietnam. It finds that the industry grew rapidly from 2010 to 2014 but has recently slowed. The market is very fragmented, with most houses built by individual families contracting small teams. There is still high potential for urban growth as Vietnam's population increases. The top 10 construction companies by assets are listed, with Vinaconex Group the largest and most profitable based on financial metrics like ROA and ROE. Contact information is provided for further research, business, and financial questions.
The Vietnam food processing industry was valued at $1.38 billion in 2014, growing at a 12.4% CAGR from 2010 to 2014. Dried processed food accounted for over 85% of the market. The top 10 players by assets were Masan Group, Minh Phu Seafood, Hung Vuong Corporation, Masan Consumer, Vinh Hoan Corp., STAPIMEX, Dabaco, Kinh Do Corporation, Viet Thang Feed, and Nha Trang Seafoods. The market is forecast to continue growing over 12% annually with opportunities in frozen processed foods from trade agreements with food exporting nations.
According to a report by StoxPlus:
1. The Vietnam flexible packaging market was estimated to be worth $834 million in 2014, growing at a compound annual rate of 16.3% from 2010 to 2014. Tan Tien Packaging has the largest market share at around 9%.
2. Beverage and packaged food markets in Vietnam are also growing rapidly, driven by increasing domestic demand and westernization, providing opportunities for growth in the flexible packaging industry.
3. The flexible packaging market is forecast to continue expanding by 15-20% annually until 2020.
The cement industry in Vietnam continues to experience oversupply issues despite strong domestic consumption growth. Supply capacity is expected to increase significantly by 2025 through new plant construction, while consumption growth is forecast to be more moderate. This will keep the market in a state of oversupply until at least 2022. Currently state-owned Vietnam Cement Industry Corporation holds the largest market share at 35%, followed by foreign companies at 31% and local private firms occupying the remaining 34% of the market. Consolidation through mergers and acquisitions has been active in recent years as companies seek to improve efficiency.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
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Vietnam Consumer Finance Customer Survey 2015
Customer Experience and Satisfaction
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Date of report: 11 August 2015
Part of StoxPlus’s Market Research Report Series for Vietnam www.stoxresearch.com
2. 2
Date: 11 August 2015
Dear Client,
Re: First publication of Vietnam Consumer Customer Survey Report,
2015
StoxPlus has been issuing the annually updated Vietnam Consumer
Finance (“CF”) Report in the last three years, providing the first and
most comprehensive report on this sector. Taking into account
feedbacks from our clients, in addition to the comprehensive analysis of
the market itself, we conducted our first CF customer survey this year
to better assess the experience and satisfaction of finance companies’
customers.
The research, conducted 500 respondents in Hanoi, Ho Chi Minh, and Da
Nang, who already used CF services within the last 2 years, were chosen
to answer the 17 questions about consumer finance service providing by
finance companies (selected list including: HD Saison, Home Credit, FE
Credit, ACS Trading, Prudential Finance, JACCS, Toyota Finance,
MobiVi, and Others).
500 other respondents who intended to use consumer finance service in
the future were surveyed to answer questions on their future demand.
As part of the research, we have conducted various field trips as well as
discussions and interviews with industry players at management levels
to grasp local insights of how fertilizers are distributed in Vietnam. For
the product survey, we have conducted mystery shopping at selected
points of sale of finance companies and commercial banks. We get
financial data of key players and consumer loans from our strategic
partner, National Financial Supervision Commission (“NFSC”).
We understand that this is a targeted but also an open research. We would
be happy to provide any further information to address any questions that
you may have, for any specific sector or target business in Vietnam. Our
ultimate objective is to bring real values to our clients via in-depth
research and practical local insights.
Should you have any questions, please contact I myself or our Research
Manager, Ms. Lan Nguyen at ++84-4-35626962 (ext. 109) or her email:
lan.nguyen@stoxplus.com
Yours sincerely,
Nguyen Quang Thuan
CEO
StoxPlus Corporation
StoxPlus Joint Stock Company
5th Floor, Indovina Bank Building
36 Hoang Cau, Dong Da
Hanoi, Vietnam
telephone: +84 (4) 3562 6962
facsimile: +84 (4) 3562 5055
stoxplus.com
4. 4
Abbreviation
No. Word Stand for
1 APR Annual Percentage Rate
2 BCG Boston Consulting Group
3 CF Consumer Finance
4 CMF Vietnam National Coal-Mineral Finance JSC
5 COD Cash on Delivery
6 DSA Direct Sale Agents
7 JSCBs Joint Stock Commercial Banks
8 MAFC Mirae Asset Finance Company
9 MFI Microfinance Institution
10 MOIT Ministry of Industry and Trade
11 MSB Maritime Commercial JSC
12 NFSC National Financial Supervision Commission
13 POS Point of Sale
14 SBV State Bank of Vietnam
15 SOCBs State-owned Commercial Banks
16 SOE State-owned Enterprise
17 TFC Vietnam Textile and Garment Finance Company
18 VCFC Vietnam Chemical Finance JSC
19 VECITA Vietnam E-commerce and Information Technology Agency
20 VPB FC VP Finance Company
21 ID Identity Card
5. 5
Executive Summary
StoxPlus has been issuing the annually updated Vietnam
Consumer Finance (“CF”) Report in the last three years,
providing the first and most comprehensive report on
this sector. Taking into account feedbacks from our
clients, in addition to the comprehensive analysis of the
market itself, we conducted our first CF customer
survey this year to better assess the experience and
satisfaction of finance companies’ customers.
500 respondents in Hanoi, Ho Chi Minh, and Da Nang,
who already used CF services within the last 2 years
were chosen to answer the 17 questions about consumer
finance service providing by finance companies (selected
list including: HD Saison, Home Credit, FE Credit, ACS
Trading, Prudential Finance, JACCS, Toyota Finance,
MobiVi, and Others).
500 other respondents who intended to use consumer
finance service in the future were surveyed to answer
questions on their future demand.
Below are the most critical findings that could change
the consumer finance market in the next few years:
34.19
33.1
34.54 33.91 34.64
32.61 30.22 29.86
32.52 33.43
35.77
35.98
39.24
35.3 35.87
20
25
30
35
40
45
Total
sample size
ACS Trading FE Credit HD Saison Home Credit
Yearsold
Average age of respondents within 95% distribution
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8. 8
Source: StoxPlus from SBV and StoxPlus
Vietnam consumer loans continue to grow in 2014, reaching US$10.4billion as of end of August 2014
Figure 1: Consumer Loan Balance (USDbn) and %GDP, %Total Loans
In line with the booming credit growth Credit tighten policy dealing
with inflation, SBV asked all
commercial banks to reduce
the non-production loans
which include CF to below
22% by 30 June 2011 and
below 16% by 31 Dec 2011.
SBV issued Document No. 2056/NHNN-CSTT dated
04/10/2012 excluding two groups of loans from the
non-production loans under growth cap: (i) loans
related to consumer real estate financing and (ii)
consumer financing for everyday life purposes
(vehicles and home appliances), for education
purposes, and medical purposes.
4.9 4.8
7.2
8.2
6.3
7.4
8.9
10.4
7%
5%
8%
8%
5.2% 5.2%
6.0%
6.6%
8%
7%
7%
6%
4.7%
5.3%
5.4% 5.3%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
-
2.0
4.0
6.0
8.0
10.0
12.0
Dec-07 Sep-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Aug-14
Consumer Loans Balance in USDbn % Consumer Loans/GDP % Consumer Loans/Loan Book
Section 1: Vietnam Consumer Finance Market
Market Size & Growth
9. 9
Section 1: Vietnam Consumer Finance Market
Market Size & Growth
Consumer finance is part of consumer lending business. However, consumer finance refers to credit used
to purchased non-investment goods or services whose value depreciates quickly
Definition of Vietnam Consumer Finance Market
• StoxPlus’ Consumer Finance Definition: In light of international
definitions, based on our understanding of core-business of finance
companies in Vietnam, pure consumer finance consists of installment
loans, cash loans and credit cards issued by finance companies. Other
extended consumer finance services are part of retail banking business,
including collateral loans (Home Mortgage, Home Renovation,
Automobile) as well as credit card issuance provided by commercial
banks.
Figure 2: Consumer loans annual growth rate, 2007 – Aug 2014
2%
61%
25%
-16%
18%
21%
18%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
70%
Sep-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Aug-14
Source: StoxPlus
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11. 11
Section 1: Vietnam Consumer Finance Market
Competition Dynamics
There are 4 types of key players providing consumer finance market with different business models
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12. 12
Section 1: Vietnam Consumer Finance Market
Competition Dynamics
There are 4 types of players providing consumer finance services: local banks, foreign banks, finance
companies, and others (ACS and MobiVi).
Local commercial banks – Traditional and most trusted methods of
lending
• Domestic commercial banks in Vietnam includes State-owned
commercial banks (SOCBs) and joint stock commercial banks (JSCBs).
It is the most traditional way that customers used to get in order to
find the financial source. However, the main issue of commercial
banks has risen since its complicated application process and long
appraisal time. As such, it has created the stereotype inside the
customer perception for long time.
• Local commercial banks still focus on traditional retail banking
business. Most JSCBs increased their consumer loans quickly in 2014.
However, even though these banks provide loans for consumers to
purchase goods and services, they still require collaterals (e.g. a
valued asset, or a savings account with the bank). This is different
from a pure CF model that is simple and convenient, and does not
require any collaterals for the loans.
Foreign commercial banks – Upper high class customers
• Foreign banks, unlikely to others, focuses on the upper class clients
who owns a bank account. Besides, in order to tap on the consumer
finance market, foreign banks has concentrated on the credit card
issuance. It may appear that larger amount of loan will accompany
strict credit appraisal. Customers must open an account in banks and
information have to fulfill in order to valuate the financial ability or
granted financial source.
• Along with the main products, which is credit card offered, foreign
banks aim to high credit rating customer, providing the high level of
customer service. As such, they operate in small-scale of products and
customers with unique promotions come along.
Finance Companies – Quick & East could win the market
• Unlike the above financial institutions, finance companies taps on
the market of smaller amount of loan, middle-low income
customers. Providing them with quick and easy application process,
finance companies charge higher interest in return.
• Finance companies, are the only type that follow the pure
consumer finance activities that could consider. With diversified-
product strategy, finance companies offer wide range of products,
from cash loan, consumer durable goods, electronic devices or
motorbike, it is expected to serve individuals who are mostly under-
banked or unbanked, and are usually considered for credit
supporting.
MobiVi – Advance technology could bring convenience
• The new trend of e-wallet has become phenomenon in Vietnam
recently. In retrospect, several e-payment providers has launched
its product to public, however, it has targeted on payment method
only. MobiVi, on the other hand, by partnership with several banks,
provides the micro credit to its customers.
• With the benefits of advance technology in online payment along
with the expertise in financial services, MobiVi offers to Corporate
Package launched in 2013 and Agent Package launched 2012. MobiVi
is dedicated to providing access to financial source to Vietnam low-
income class, especially for industrial zone workers.
13. 13
Finance companies have the fastest growth in consumer loans compared to other types of players
Source: StoxPlus from NFSC and SBV
Figure 3: Breakdown of Vietnam Consumer Loans by players, 2013-2014
20132014
37%
49%
3%
10%
0% 100% 1% 4%
4%
43%
48%
0%
20%
40%
60%
80%
100%
120%
SOCBs JSCBs Foreign
Banks
Finance
Companies
Others Total Others Finance
Companies
Foreign
Banks
JSCBs SOCBs
Section 1: Vietnam Consumer Finance Market
Competition Dynamics
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14. 14
VP Finance Company (i.e. FE Credit) is believed to be the market leader for consumer finance,
followed by PPF and Prudential
Section 1: Vietnam Consumer Finance Market
Competition Dynamics
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16. 16
Section 2: Survey at a glance
Methodology
Sample Size
• 500 consumer finance users within 2
years (consumer good instalment and
cash loan)
• 500 intended users in the near future
• Location: Hanoi, Ho Chi Minh City, Da
Nang
Respondents
• Male & Female
• Age: 18-60
• Have used consumer finance services
from finance companies (selected
list)
Methodology
• Snowball Sampling
• Interview face to face
• Questions with showcards
Description
• 500 respondents who already used CF services within the last 2 years were chosen to answer the 17 questions about consumer finance service
providing by finance companies (selected list including: HD Saison, Home Credit, FE Credit, ACS Trading, Prudential Finance, JACCS, Toyota
Finance, MobiVi, and Others).
• 500 other respondents who intended to use consumer finance service in the future were surveyed to answer questions on their future demand.
• Due to difficulty in sampling consumer finance users, we selected snowball sampling methodology as respondents have been previously identified
and difficult to locate or contact. As such, using this approach, few potential respondents were contacted, then asked whether they know of
anybody whose used consumer finance service before or have intention to use in the future.
Biases
• Foremost, snowball sampling does not produce a random sample because of the potential biases present during the process. In the beginning, the
bias may be introduced as the recommendations were based on convenience and the circle of relationships is limited. For example, the majority
of sample size are female, or urban area accounted for more than 80&. These characteristics may be influenced as recommended participants
have similar range of characteristics, for instance, same age, similar jobs, etc.
• Due to the limited number of respondents, this report will only analyse the top five finance companies with the most number of users amongst this
sample size. The top 5 include: ACS Trading, Home Credit, HD Saison, FE Credit, Prudential Finance.
Consumer Finance customer survey overview
18. 18
The segments were developed based on factors including product holding, channel preference, reason
to use, income, and occupation.
Section 2: Survey at a glance
Key findings
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20. 20
Section 3: Survey Detailed Findings
Sample characteristics
200
150 150
200
150 150
0
50
100
150
200
250
300
350
400
450
Hanoi Hochiminh Da nang
Used Intend to use
5%
16% 13%
95%
84% 87%
0%
20%
40%
60%
80%
100%
Ha Noi Ho Chi Minh Da Nang
Rural Urban
41%
31% 31%
59%
69% 69%
0%
20%
40%
60%
80%
100%
Ha noi Hochiminh Da Nang
Male Female
Figure 4: Breakdown of sample size by type of users
Figure 6: Breakdown of sample size by gender
Figure 5: Breakdown of sample size by geographic
% of respondents
Number of respondents
% of respondents
Source: StoxPlus’ CF Customer Survey 2015
Source: StoxPlus’ CF Customer Survey 2015 Source: StoxPlus’ CF Customer Survey 2015
Consumer Finance customer survey characteristics
21. 21
Section 3: Survey Detailed Findings
Sample characteristics
Figure 7: Frequency of the use of consumer finance products
The frequency of majority of consumer finance users were less than one per year – 91 percent of
sample size
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22. 22
Figure 8: Number of Finance Companies users
Source: StoxPlus’ CF Customer Survey 2015
Among finance companies most recently used, Home Credit under PPF Vietnam were almost inclined
to become the most popular brand
Section 3: Survey Detailed Findings
Sample characteristics
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24. 24
Section 3: Survey Detailed Findings
Demographics
Figure 9: Breakdown of sample size by age Figure 10: Age structure of top 4 companies
Source: 2015 StoxPlus Survey of Consumer Finance Source: 2015 StoxPlus Survey of Consumer Finance
Young adults (23 to 34 years old) are the most potential demographic groups to target for consumer
finance products
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25. 25
Figure 11: Breakdown of sample size by user occupation
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 12: Users’ Occupation of top 4 companies
Source: 2015 StoxPlus Survey of Consumer Finance
Freelancer and Officers accounted for more than 60 percent of total respondents
Section 3: Survey Detailed Findings
Demographics
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26. 26
According to the survey, we identify 3 customer groups with the highest potential for CF loans that
are being served by other credit providers
Section 3: Survey Detailed Findings
Demographics
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27. 27
Figure 13: Breakdown of sample size by monthly income Figure 14: Monthly income level of top 4 companies
Source: 2015 StoxPlus Survey of Consumer Finance Source: 2015 StoxPlus Survey of Consumer Finance
As expected, CF customers tend to be Lower Mass – Mass individuals, with monthly income most likely
to range from VND3mn – 7mn
Section 3: Survey Detailed Findings
Demographics
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28. 28
This result confirms our previous analysis regarding target market of finance companies
34.0%
29.0%
15.0%
11.0%
5.6%
3.9%
1.5%A
1
F
E
D
A
C
B
Wealthy
1.5% = 1.3
million
Affluent
9.5% = 8.2
million
Mass
Affluent
and Upper
Mass
26% = 22
million
Mass and
Lower Mass
63% = 54
million
Source: StoxPlus’s Analysis from GSO and TNS data
Figure 15: Vietnam Income Groups 2011
Class Annual income
A1 US$42,001 and above
A US$24,001 - 42,000
B US$6,001 - 24,000
C US$4,201 - 6,000
D US$3,001 - 4,200
E US$1,801 - 3,000
F US$1,800 and below
Section 3: Survey Detailed Findings
Demographics
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30. 30
Figure 16: Products – Consumer finance users
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents
Majority of CF survey participants use installment loans (91%). Cash loans users only account of 9%
of survey participants
Section 3: Survey Detailed Findings
Products
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31. 31
Figure 17: Reasons for using consumer good instalment loans
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents
Section 3: Survey Detailed Findings
Products
Top reasons for using installment loans is to meet the demand to consume immediately, as well as to
split payment into smaller and more reasonable expenses
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32. 32
Figure 18: Reasons for using cash loans
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Products
Reasons for using CF cash loans is straight-forward: users need cash quickly and have no other
borrowing options
Source: 2015 StoxPlus Survey of Consumer Finance
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34. 34
Figure 19: Customer Acquisition Channels of CF Installment Loans
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Acquisition Channels
Point of sales are the most popular customer acquisition channel for CF installment loans
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35. 35
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 20: Customer Acquisition Channels of Finance Companies
Section 3: Survey Detailed Findings
Acquisition Channels
Point of sales are the most popular customer acquisition channel for CF installment loans
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36. 36
Figure 21: Customer Acquisition Channels of Cash Loan
Source: 2015 StoxPlus Survey of Consumer Finance
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Acquisition Channels
For cash loans, sales agents and branches are the two most popular customer acquisition channels
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38. 38
Figure 22: Sale Channels of CF Installment Loans
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Sales Channels
Most important sales channels for CF installment loans are sales agents at POS and word of mouth via
friends and relatives
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39. 39
Figure 23: Sale Channels of Finance Companies
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Sale Channels
Finance companies showed the similarity in the sale channels – Ads at POS, Sale agents at POS and
Reference from friends and relatives
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40. 40
Figure 24: Sale Channels of Cash Loans
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Sales Channels
Sales channels for cash loans vary more than CF installment loans
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42. 42
Figure 25: Payment Methods of Consumer Good Loans Figure 26: Payment Methods of Cash Loans
Source: 2015 StoxPlus Survey of Consumer Finance Source: 2015 StoxPlus Survey of Consumer Finance
Question: Which method did you choose to pay monthly instalment?
Section 3: Survey Detailed Findings
Payment Methods
Despite that CF companies have introduced many payment options, CF customers still use traditional
methods of paying cash at physical locations
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43. 43
Figure 27: Payment Methods offered by Finance Companies
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Payment Methods
Due to different business models, customers of different CF companies vary in their payment options
Question: Which method did you choose to pay monthly instalment?
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45. 45
Figure 28: Customers’ willingness to continue to use consumer finance
service by products
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Willingness to continue
CF installment loans customers are more likely to continue or introduce CF services to their friends
and family
Figure 29: Customers’ willingness to continue to use consumer finance
service by finance companies
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46. 46
Source: 2015 StoxPlus Survey of Consumer Finance
Section 3: Survey Detailed Findings
Willingness to continue
ACS customers are most likely to continue or introduce CF services to their friends and family
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47. 47
Section 4: Customer satisfaction
4.1 Overall satisfaction
4.2 Satisfaction with key product elements
Contents
48. 48
Weighted sum method is selected for ranking the customer’s satisfaction owing to the available of
priorities of criteria
Influenced factors Available Choice Selected Companies
• Interest rate • Very dissatisfied • Home Credit
• Procedure • Dissatisfied • FE Credit
• Contract’s terms & conditions • Neutral • HD Saison
• Appraisal time • Satisfied • ACS Trading
• Staff’s attitude • Very satisfied • Prudential Finance
• Disbursement time
• Payment methods
• Loan rescheduling
• Penalties
Description
• By applying this methods, the available choice was ranked by the priorities. The respondents had to give their preferences with respects to the
evaluation criteria incorporated into the available choice. These preferences were expressed in priorities or weights between the criteria.
• This survey will be scored over the nine factors and the rank is out of five. Five is the highest score and one is the lowest.
Biases
• There are several assumption of compensability between criteria and the loss of information due to the smaller in the sample size. Also, assigning
weights is difficult and based mostly on observation. Somehow, the estimation and the relativity come from respondents are under the concern of
normalization.
Section 4: Customer satisfaction
Overall satisfaction
49. 49
Overall, HD Saison Finance has the highest overall customer satisfaction, followed by ACS and Home
Credit (PPF)
Section 4: Customer satisfaction
Overall satisfaction
Figure 31: Overall customer’s satisfaction of finance companies
Source: 2015 StoxPlus Survey of CF Customers
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50. 50
Section 4: Customer satisfaction
4.1 Overall satisfaction
4.2 Satisfaction with key product elements
Contents
51. 51
Figure 32: Customer’s satisfaction of CF installment loans
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 33: Customer’s satisfaction of cash loans
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents% of respondents
Section 4: Customer satisfaction
Customer experience– Interest Rate
Customers are most satisfied with interest rates of HD Saison’s CF installment loans and Prudential
Finance’s cash loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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52. 52
Figure 34: Customer’s satisfaction toward simple procedures
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 35: Customer’s satisfaction toward simple procedures
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents% of respondents
Section 4: Customer satisfaction
Customer experience – Application Procedure
Customers are most satisfied with application procedure of Home Credit’s CF installment loans and cash
loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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53. 53
Figure 36: Customer’s satisfaction of Customer Good Installment Loan
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 37: Customer’s satisfaction of Cash Loan
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents
% of respondents
Section 4: Customer satisfaction
Customer experience – Transparency of terms & conditions
Customers are most satisfied with transparency of ACS’ CF installment loans and Home Credit’s cash
loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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54. 54
Figure 38: Customer’s satisfaction towards appraisal time
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 39: Customer’s satisfaction towards appraisal time
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents% of respondents
Section 4: Customer satisfaction
Customer experience – Appraisal Time
Customers are most satisfied with appraisal time of FE Credit’s CF installment loans and Prudential
Finance’s cash loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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55. 55
Figure 40: Customer’s satisfaction towards customer services
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 41: Customer’s satisfaction towards customer services
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents% of respondents
Section 4: Customer satisfaction
Customer experience – Customer Services
Customers are most satisfied with customer services of Home Credit’s CF installment loans and
Prudential Finance’s cash loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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56. 56
Figure 42: Customer’s satisfaction towards disbursement time
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 43: Customer’s satisfaction towards disbursement time
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents% of respondents
Section 4: Customer satisfaction
Customer experience – Disbursement Time
Customers are most satisfied with disbursement time of HD Saison’s CF installment loans and
Prudential Finance’s cash loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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57. 57
Figure 44: Customer’s satisfaction towards payment methods
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 45: Customer’s satisfaction towards payment methods
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents% of respondents
Section 4: Customer satisfaction
Customer experience – Payment methods
Customers are most satisfied with payment methods of FE Credit’s CF installment loans and Home
Credit’s cash loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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58. 58
Figure 46: Customer’s satisfaction towards loan rescheduling
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 47: Customer’s satisfaction towards loan rescheduling
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents% of respondents
Section 4: Customer satisfaction
Customer experience – Loan Rescheduling
Customers are most satisfied with ability to reschedule loans of Home Credit’s CF installment loans
and Prudential Finance’s cash loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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59. 59
Figure 48: Customer’s satisfaction towards penalties
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 49: Customer’s satisfaction towards penalties
Source: 2015 StoxPlus Survey of Consumer Finance
% of respondents% of respondents
Section 4: Customer satisfaction
Customer experience – Penalties
Customers are most satisfied with fines and penalties of ACS’s CF installment loans and FE Credit’s
cash loans
From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest finance company you did use
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60. 60
Section 5: Statistical Testing
Contents
5.1 Methodology and Summary of findings
5.2 Confidence Interval
5.3 Hypothesis testing
61. 61
Section 5: Statistical Testing
Methodology & Summary of Findings
Selected Methodologies
• We use inferential statistics because it allows us to measure behavior in samples to learn more about the behavior in populations that are often
too large or inaccessible. We use samples because we know how they are related to populations.
• In behavioral research, we select samples to learn more about populations of interest to us. In terms of the mean, we measure a sample mean to
learn more about the mean in a population. Therefore, we will use the sample mean to describe the population mean. We begin by stating the
value of a population mean, and then we select a sample and measure the mean in that sample. On average, the value of the sample mean will
equal the population mean. The larger the difference or discrepancy between the sample mean and population mean, the less likely it is that we
could have selected that sample mean, if the value of the population mean is correct. This type of experimental situation, using the example of
standardized exam scores
Description
• Confidence Interval: The purpose of taking a random sample from a lot or population and computing a statistic, such as the mean from the data,
is to approximate the mean of the population. How well the sample statistic estimates the underlying population value is always an issue. A
confidence interval addresses this issue because it provides a range of values which is likely to contain the population parameter of interest.
• Hypothesis Testing: Hypothesis testing refers to the process of choosing between competing hypotheses about a probability distribution, based on
observed data from the distribution. It is a core topic in mathematical statistics, and indeed is a fundamental part of the language of statistics. In
this chapter, we study the basics of hypothesis testing, and explore hypothesis tests in some of the most important parametric models: the
normal model and the Bernoulli model.
Biases
• In the normal course of events, population standard deviations are not known, and must be estimated from the data. Confidence intervals, given
the same confidence level, are by necessity wider if the standard deviation is estimated from limited data because of the uncertainty in this
estimate.
• Due to the limited number of respondents, this report will only analyse the top for finance companies with the most number of users amongst this
sample size. The top 5 include: ACS Trading, Home Credit, HD Saison, and FE Credit.
Confidence interval is selected to test statistical significance of the sample size
62. 62
Section 5: Statistical Testing
Methodology & Summary of Findings
Figure 50: Average monthly income of respondents
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 51: Average age of respondents
Source: 2015 StoxPlus Survey of Consumer Finance
FE Credit illustrated the widest range of average income level and aging group
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63. 63
Section 5: Statistical Testing
Contents
5.1 Methodology and Summary of findings
5.2 Confidence Interval
5.3 Hypothesis testing
64. 64
Section 5: Statistical Testing
Average Monthly Income – Total sample size
Monthly income of the total sample size is between VND4.66 million and VND8.22 million
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 52: Normally distribution of total sample size
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65. 65
Section 5: Statistical Testing
Average Monthly Income – ACS Trading
Monthly income of the ACS is between VND3.5 million and VND10 million
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 53: Normally distribution of ACS Trading
66. 66
Section 5: Statistical Testing
Average Monthly Income – FE Credit
Monthly income of the ACS is between VND2.49 million and VND13.09 million
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 54: Normally distribution of FE Credit
67. 67
Section 5: Statistical Testing
Average Monthly Income – HD Saison
Monthly income of the ACS is between VND2.81 million and VND10.27 million
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 55: Normally distribution of HD Saison
68. 68
Section 5: Statistical Testing
Average Monthly Income – Home Credit
Monthly income of the ACS is between VND3.19 million and VND8.62 million
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 56: Normally distribution of Home Credit
69. 69
Section 5: Statistical Testing
Average Age– Total sample size
Aging range of the total sample size is between 32.61 years old and 35.77 years old
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 58: Normally distribution of Total Sample Size
70. 70
Section 5: Statistical Testing
Average Age– ACS Trading
Aging range of ACS Trading is between 30.22 years old and 35.98 years old
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 59: Normally distribution of ACS Trading
71. 71
Section 5: Statistical Testing
Average Age – FE Credit
Aging range of ACS Trading is between 29.86 years old and 39.24 years old
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 60: Normally distribution of FE Credit
72. 72
Section 5: Statistical Testing
Average Age – HD Saison
Monthly income of the ACS is between VND2.81 million and VND10.27 million
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 61: Normally distribution of HD Saison
73. 73
Section 5: Statistical Testing
Average Age– Home Credit
Monthly income of the ACS is between VND3.19 million and VND8.62 million
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Source: 2015 StoxPlus Survey of Consumer Finance
Figure 62: Normally distribution of Home Credit
74. 74
Section 6: Demand of Future CF Users
Contents
6.1 Overall
6.2 Importance on key product elements
75. 75
Section 6: Demand of Future CF Users
Methodology
Sample Size
• 500 consumer finance users within 2
years (consumer good instalment and
cash loan)
• 500 intended users in the near future
• Location: Hanoi, Ho Chi Minh City, Da
Nang
Respondents
• Male & Female
• Age: 18-60
• Have used consumer finance services
from finance companies (selected
list)
Methodology
• Snowball Sampling
• Interview face to face
• Questions with showcards
Description
• 500 respondents who already used CF services within the last 2 years were chosen to answer the 17 questions about consumer finance
service providing by finance companies (selected list including: HD Saison, Home Credit, FE Credit, ACS Trading, Prudential Finance,
JACCS, Toyota Finance, MobiVi, and Others).
• 500 other respondents who intended to use consumer finance service in the future were surveyed to answer questions on their future
demand.
• Due to difficulty in sampling consumer finance users, we selected snowball sampling methodology as respondents have been previously
identified and difficult to locate or contact. As such, using this approach, few potential respondents were contacted, then asked
whether they know of anybody whose used consumer finance service before or have intention to use in the future.
Biases
• Foremost, snowball sampling does not produce a random sample because of the potential biases present during the process. In the
beginning, the bias may be introduced as the recommendations were based on convenience and the circle of relationships is limited. For
example, the majority of sample size are female, or urban area accounted for more than 80&. These characteristics may be influenced as
recommended participants have similar range of characteristics, for instance, same age, similar jobs, etc.
• Due to the limited number of respondents, this report will only analyse the top five finance companies with the most number of users
amongst this sample size. The top 5 include: ACS Trading, Home Credit, HD Saison, FE Credit, Prudential Finance.
Consumer Finance customer survey overview
76. 76
Figure 63: Breakdown of sample size by aging structure Figure 64: Breakdown of sample size by occupation
Source: 2015 StoxPlus Survey of Consumer Finance
Section 6: Demand of Future CF Users
Sample’s Characteristics
Similar with used consumers, survey’s result has showed the same segments
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77. 77
Section 6: Demand of Future CF Users
Contents
5.1 Overall
5.2 Importance on key product elements
78. 78
Source: 2015 StoxPlus Survey of Consumer Finance
Figure 65: From 1 to 5, can you please rank the important level of the following elements when you decided to use consumer
finance service?
#1
#2
#3
#4
#5
#6
#7
#8
#9
Customers’ product requirements, attitudes and preferences are not unique, interest rate is still the
most concern for intended customers
Section 6: Demand of Future CF Users
Importance on key product elements
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79. 79
Despite Vietnamese intended users still consider interest rate issue as the most important factor that
would affect the decision of using consumer finance service, unlike used customers, appraisal time and
time of disbursement is more important than procedure or contract’s terms
Section 6: Demand of Future CF Users
Importance on key product elements
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81. 81
Question 1: Have you ever used cash loan/consumer goods instalment loan providing by any finance companies
within 2 years?
1. Yes
2. No
Question 2: How usually do you use the consumer finance provided by finance companies?
1. More than a month
2. Once per month
3. Once per 2-3 months
4. Once per 4-6 months
5. Once per 6-12 months
6. Less than once per year
Question 3: Recently, which finance company did you use?
1. ACS Trading
2. FE Credit
3. HD Saison Credit
4. Home Credit (PPF)
5. JACCS
6. Mirae Assets Finance
7. Prudential Finance
8. Toyota Finance
9. MobiVi
10. Others (Specific)
Question 4: Which consumer finance product did you use?
1. Consumer goods instalment loan -> Question 5
2. Cash loan -> Question 10
Appendix 1: Survey’s Question
82. 82
Question 5: which purpose for the use of consumer finance products?
1. Consumer durable goods (Television, air conditional, etc.)
2. Electronic technology/Digital devices
3. Computer/Laptop
4. Motorbike/E-bike
5. Automobiles
6. Furniture
7. Others (Specific)
Question 6a: Which channels did you apply to consumer finance products?
1. Shopping Mall/Supermarket (Aeon, Big C, Coopmart, etc.)
2. Point of sale (Mobile world, FPT shop, etc.)
3. Online retail websites
4. Others (Specific)
Question 6b: How did you know about consumer finance products?
1. Ads at POS
2. Sale agents at POS
3. Ads on internet
4. Newspaper/Flyers/Posters
5. Friends/Relatives
6. Others (Specific)
Question 7a: Which payment methods did you choose to pay monthly instalment?
1. Cash at branches in banking system
2. Cash at purchase location (Mobile World, Media Mart, etc.)
3. Cash at post office
4. Cash at convenience stores (Circle K, Foodcoo-mart, etc.)
5. Account transfer at bank
6. Online payment (Payoo, MobiVi, etc.)
7. Others (Specific)
Appendix 1: Survey’s Question – Consumer Good Instalment
83. 83
Question 7b: Why did you choose consumer finance services provided by finance companies?
1. Meet the purchase demand immediately
2. Split into small and reasonable expenses
3. Attract by discount and promotion program
4. Resell product to earn cash
5. Others (Specific)
Question 8: From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest
finance company you did use
1. Reasonable interest rate
2. Simple procedure
3. Clear contract’s terms & conditions
4. Appraisal time
5. Staff’s attitude
6. Disbursement time
7. Payment methods
8. Reasonable loan rescheduling
9. Penalties
Question 9: Do you likely introduce the finance company to your friends and relatives?
1. Very likely
2. Likely
3. Neutral
4. Unlikely
5. Very unlikely
Appendix 1: Survey’s Question – Consumer Good Instalment
84. 84
Question 10: Which acquisition channel did you use to apply the cash loan?
1. Shopping Mall/Supermarket
2. Point of sale
3. Sale agents at POS
4. Branches of finance company
5. Post office
6. Online website
7. Others (Specific)
Question 11a: Before cash loan, have you ever used other instalment loan products (motorbike, cars, electronic
device, etc.)?
1. Yes
2. No
Question 11b: How did you know about the consumer finance products – cash loan?
1. Used it before
2. Via sale agents
3. Via ads/website/facebook/social media/etc.
4. Via media/brochures/poster
5. Via friends/relatives
6. Others (Specific)
Question 12: Which payment methods did you choose to pay monthly instalment?
1. Cash at branches in banking system
2. Cash at purchase location (Mobile World, Media Mart, etc.)
3. Cash at post office
4. Cash via sale agents
5. Cash at convenience stores (Circle K, Foodcoo-mart, etc.)
6. Account transfer at bank
7. Online payment (Payoo, MobiVi, etc.)
8. Others (Specific)
Appendix 1: Survey’s Question – Cash Loan
85. 85
Question 12b: Why did you choose consumer finance product?
1. Urgent for cash
2. No other option
3. Discount and promotion programs
4. Others (Specific)
Question 13: From 1 to 5, 1 is very dissatisfied and 5 is very satisfied, please rank the satisfaction for the latest
finance company you did use
1. Reasonable interest rate
2. Simple procedure
3. Clear contract’s terms & conditions
4. Appraisal time
5. Staff’s attitude
6. Disbursement time
7. Payment methods
8. Reasonable loan rescheduling
9. Penalties
Question 14: How likely do you introduce finance company to friends and relatives?
1. Very likely
2. Likely
3. Neutral
4. Unlikely
5. Very unlikely
Appendix 1: Survey’s Question – Cash Loan
86. 86
Question 15: Would you like to continue using consumer finance products provided by finance companies in the
future?
1. Very likely
2. Likely
3. Neutral
4. Unlikely
5. Very unlikely
Question 16: From 1 to 5, 1 is Not at all important and 5 is very important, please rank the importance of
following elements when you consider to use consumer finance products?
1. Reasonable interest rate
2. Simple procedure
3. Clear contract’s terms & conditions
4. Appraisal time
5. Staff’s attitude
6. Disbursement time
7. Payment methods
8. Reasonable loan rescheduling
9. Penalties
Question 17a: Gender
1. Male
2. Female
Appendix 1: Survey’s Question
87. 87
Question 17b: Age
1. Under 18
2. Between 18 and 22
3. Between 23 and 34
4. Between 35 and 50
5. Between 51 and 60
6. Over 60
Question 18: Occupation
1. Student
2. Worker
3. Officer
4. Housewife
5. Freelancer
6. Farmer
7. Others
Question 19: Average monthly income
1. Under VND3 million
2. From VND3 million – VND5 million
3. From VND5 million – VND7million
4. From VND7 million – VND10 million
5. From VND10 million – VND40 million
6. From VND40 million – VND70 million
7. Over VND70 million
Question 20: Address
1. Street/District
2. Province
3. City
Appendix 1: Survey’s Question
88. 88
Appendix 2: Research Methodology
StoxPlus surveyed 1000 consumer finance customers.
• To qualify, respondents had to used at least one consumer finance
product or intend to use and had knowledge about consumer
finance product.
• The survey was translated into Vietnamese and conducted through
direct interviewed in Hanoi, Ho Chi Minh City and Da Nang.
• The survey instrument was pre-test in Hanoi to ensure the survey
question were understood and captured relevant aspects of
consumer finance users’ behaviors and experiences.
• All questions referenced in local currency and were standardized
into US dollars.
• The target quotas were established based on the number of users
in each city.
• The data was collected from 20 June 2015 to 30 June 2015.
90. ‹#›
If you need further assistance, contact us at:
Hang Pham
Associate
+84 (0) 35626962 (ext. 109)
+84 (0) 90 400 2705
hang.pham@stoxplus.com
Head Office
5th Floor, Indovina Bank Building
36 Hoang Cau Street
Hanoi, Vietnam
+ 84 (4) 3562 6962
Ho Chi Minh Branch
20th Floor, AB Tower,
76 Le Lai Street, District 1
Ho Chi Minh City, Vietnam
+ 84 (8) 3823 3485
Lan Nguyen
Research Manager
+84 (0) 35626962 (ext. 109)
+84 (0) 96 494 6760
lan.nguyen@stoxplus.com