Vietnam Consumer Finance Report 2025: Navigating Strategic Shifts in a Changing Landscape

Vietnam remains one of the world’s most export-dependent economies, with total trade reaching USD 786 billion in 2024 equivalent to nearly 165% of its nominal GDP. While this robust export engine has fueled decades of economic growth, it also exposes the country to significant external vulnerabilities. The reintroduction of Trump-era tariffs, particularly targeting labor-intensive sectors, has underscored this fragility. 

Key export-oriented industries - textiles, wood products, and seafood collectively represent around 46% of Vietnam’s total export value to the U.S. and provide employment for more than 1.1 million workers. These workers form a large part of the borrower base for consumer finance companies, creating a direct transmission channel through which trade shocks translate into credit risks. As demand for loans slows and export-linked borrowers face heightened financial stress, FinCos must grapple with rising non-performing loans, liquidity tightening, and more cautious funding environments. 

This backdrop sets the stage for the Vietnam Consumer Finance Report 2025, which offers in-depth analysis on how macroeconomic and policy shifts are reshaping the sector’s growth trajectory, financial performance, and strategic outlook. 

While credit growth stagnates and market expansion slows, the sector is also seeing new opportunities emerged: from diversified funding strategies and evolving risk models to innovative market assessments that better capture emerging consumer needs. The report offers a focused assessment of how U.S. tariffs have impacted FinCos across several dimensions: 

• Export-linked liquidity constraints 

• Rising credit risks 

• Increased non-performing loans (NPLs) 

• Weakened credit demand and reduced appetite for CD issuance 

Beyond macroeconomic and regulatory insights, this report also provides a comprehensive set of core financial figures and performance indicators that track the sector’s health over time. These include loan balance growth, asset earnings, profitability metrics, and detailed assessments of FinCos’ financial resilience amid ongoing market volatility. By examining year-over-year shifts in credit quality, funding structure, and revenue composition, the report delivers a clear picture of how consumer finance companies are adapting operationally and strategically in a turbulent environment. 

A key feature of this year’s edition is a deep dive into the regulatory landscape, particularly the upcoming Decree 94/2025/ND-CP, which establishes a regulatory sandbox for fintech solutions within the banking sector. Scheduled for pilot implementation by the State Bank of Vietnam in July 2025, this initiative introduces limited P2P lending models, restricted to pawnshop-backed loans, signaling a careful but progressive shift toward innovation under regulatory oversight. 

Don’t miss out on our latest publication, tentatively scheduled for release by the end of May. 

👉 Click HERE to view the teaser and tentative Table of Contents. 

For pre-orders, please contact us at: 

📧 research.support@fiingroup.vn 
📞 +84 (24) 3562 6962