There is still ample room for domestic credit card (DCC) growth since the number of DCC holders is relatively low in Vietnam, according to experts at a seminar on DCCs held on Friday.

According to the State Bank of Vietnam, by 2020, 70% of adults in Vietnam had a bank account, but nearly half of them did not have access to credit. 

The State Bank of Viet Nam is planning to pilot a regulatory sandbox which would allow fintech companies to participate in providing some banking services starting from 2021.

Banking services will remain available to meet the transaction demands of businesses and individuals, according to the State Bank of Vietnam (SBV).

The banking sector is waiting for the State Bank of Viet Nam to allow the use of electronic know your customer/client (e-KYC).

 VietNamNet Bridge – The Government has rearranged 464 State owned enterprises, including 404 equitized over the past years, Deputy PM Nguyen Xuan Phuc told legislators on Monday.

Vietnam banks have been in a restructuring mode lately as part of their attempt to get the banking system in shape for the Association of Southeast Asian Nations economic integration at the end of the year,

VietNamNet Bridge – Banks have begun charging fees on the card services, which has met public opposition.

 VietNamNet Bridge – Many commercial banks are raising their fees, but the quality of their services has not kept pace.

 VietNamNet Bridge – Non-credit services have never been the main source of income of banks, even when the lending gets stuck now.