Many of its rivals, too, are actively preparing for the competition which is forecast to become fierce in the consumer finance market. Why do credit companies have such high expectations of the Vietnamese finance market? The Business Monitor International (BMI ) and the World Bank attribute the strong growth of the consumer finance market to Việt Nam’s rapid urbanisation. To enter the race, many foreign finance companies are ready to buy into local players. SHB, for instance, acquired the Vinaconex-Viettel Finance Joint Stock Company and bolstered its finances greatly by increasing chartered capital to nearly VNĐ12 trillion before establishing a consumer finance company (SHB Finance) with a legal capital of VNĐ1 trillion.

Source: Viet Nam News February 06, 2017 02:03 UTC