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- 89% of adults in Vietnam are now banked, vs 31% reported by world bank less than decade ago. (Source: State Bank of Vietnam)
- This week announced: Over 15bn cashless transactions in H1 2026 alone with combined value of VND190quadrillion ($7.27tn)
- y-o-y increase of 34.28% in volume and 12.24% in value,
- interesting, this transaction volume is more than the whole of 2023 – strong digitalization over short timeframe (Source: State Bank Vietnam)
- Saving & Investing
- 13m share trading accounts by May 2026, exceeding the 2030 target four years early (Source: Vietnam securities depository)
- Protecting
- Insurance penetration rate (total insurance premium as % of country GDP) at 2.3% of GDP vs 5.3% in Thailand and 9.2% in Singapore. <1% is sold digitally (opportunity area). (Source: MSIG)
- Funding Growth
- In 2026, SMEs are 98% of firms in Vietnam yet receive 20% of available credit. (Source: MOF)
- Bank Lending already at 1.5x GDP at end of 2025, almost triple medium of 52% for countries with similar credit ratings
- need other capital market vehicles (deepening of capital markets) to drive growth beyond bank lending
- Funding Trade
- $920bn of goods traded in 2025 – highest level ever recorded (import/export) (Source: Vietnam Customs)
- A 2025 survey from Asia Development Bank found that 41% of SME firms are refused trade finance (Source: Asia Development Bank)
- Trade is still highly paper-based and the least digitized area of the financial system
Sizing The opportunity
- Vietnam is a $514bn economy , growing at 8% with aspirations for 10% annual growth
- Digital Economy was $39bn in 2025, 17% y-o-y growth and the second fastest digital economy growth in ASEAN (behind Indonesia) (Source: E-Conomy SEA Report)
- FTSE Russell EM Upgrade and V-IFC will likely present further sizeable growth opportunities that can be supported by FinTech
- Scams and Fraud are getting smarter
- Over 6tn dong (~$250m) was lost to online scams in 2025, with deepfake voices and videos now standard tools (Source: National Cybersecurity Association)
