Consumer credit booms in VietnamVietNamNet Bridge - The Vietnamese consumer finance market at VND646 trillion, or $28 billion in 2016, was equal to 10 percent of GDP. FE Credit has had high profits over the last five years since the consumer lending market began developing strongly. VP Bank’s CEO Nguyen Duc Vinh said consumer credit will develop well in the next 10 years, though VP Bank doesn’t think FE Credit will continue to make up 50 percent of profit forever. FE Credit has made big profits during the consumer credit explosion in Vietnam. The high growth rate of consumer credit will be associated with increased risk on bad debts.

Source: VietNamNet News February 15, 2018 06:11 UTC