"Booming Financial Sector in Vietnam (2007-2011)” – a market research report by RNCOS - provides extensive research and objective analysis of the growing Financial Sector in Vietnam, its product quality, and the services it provide. This report helps clients to analyse the leading-edge opportunities critical to the success of the financial, particularly banking and insurance industry, in the country. Detailed data and prudent analysis helps the investors, financial service providers, and global banking players to navigate through the evolving financial sector of Vietnam.
- ATM cards are the most popular cards among Vietnamese. As of January 2007, awareness level for ATM cards, credit cards and debit cards stood at 91%, 21% and 8% respectively. Visa is seen as the leading brand of payment cards.
- Total bank deposits and bank loans in Vietnam are expected to grow at the CAGR of 17.06% and 15.22% respectively during 2007-2011 due to the developing confidence in banking industry, increasing privatisation and foreign participation.
- Vietnam's insurance sector is expected to account for 4.2% of the nation's GDP by 2010 by increasing total life and non-life insurance premiums to US$ 2 Billion and US$ 562 Million respectively as a result of the development of more innovative products and selling channels.
- Vietnamese expenditure on health is increasing continuously and is expected to rise at the CAGR of 13.94% during 2007-2011, resulting in increasing opportunities for health insurance.
- Total officially employed people in the country are expected to reach 48.3 Million in 2011 from 43.8 Million in 2007, creating plenty of opportunities for group insurance and overall banking industry.
- There exists huge opportunities for payment cards’ manufacturers in Vietnam as according to Vietnam Government, targeted and expected payment cards in Vietnam will be 15 Million and 30 Million by 2010 and 2020 respectively.
Key Issues and Facts
The research report addresses the issues and facts that are critical to business success:
- How competitive is the financial sector in Vietnam?
- What is the nature of the services driving the financial sector?
- What are the various opportunities and challenges for the sector?
- What are the prospective areas of investment for the banks in near future?
- Which factors will lead to the growth of payment cards, loans and deposits in Vietnam?
Key products like Deposits, Payment Cards, Loans, ATM services and Insurance Products are analysed thoroughly and are supported by the factors filliping their growth.
This section provides business overview and key financials of top players (Asset-wise) like Bank for Investment and Development of Vietnam, Asia Commercial Bank, Baoviet, and Petrolimex Joint-Stock Insurance Company
Research Methodology Used
Information has been sourced from various authentic sources like books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to more than 3000 paid databases.
The in-depth analysis of the report has been done by employing several methods, including ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis.