Vietnam’s SME Credit Outlook 2025: Opportunities & Risks

In today’s volatile economic environment, assessing the financial health and risk profiles of small and medium-sized enterprises (SMEs) has become a critical factor for regulators, financial institutions, and investors in shaping policies and making sound credit and investment decisions. 

FiinGroup is pleased to introduce its latest report: “SME Credit: Opportunities and Risks”. The study not only provides key indicators such as SME market size and capital access, but also sheds light on risk dynamics over time, sector-specific exposures, and untapped credit potential among underbanked SME groups. Key findings include: 

• SMEs account for 95% of total enterprises but contribute less than 10% of Vietnam’s import–export turnover and under 20% of revenue, highlighting their limited role in overall economic output. 

• Large financing gap: Only 9.3% of SMEs access bank loans, compared to over 56% of large corporates. 

• 70% of SMEs fall into moderate to high risk (FG-8 to FG-14), while 60% of large corporates are rated in low risk groups (FG-1 to FG-4) – showing a clear stratification of credit risk profiles. 

• By 2025, SME risk has markedly improved: only 40% remain in high to very high risk groups, with 27% rated low/very low risk. This contrasts sharply with 2022–2024, when nearly 60% of SMEs were in high-risk categories. 

• 30% of SMEs with over 5 years of operations and mid-to-low risk profiles have not accessed bank credit. This is a high-potential segment for banks and lenders. 

• Manufacturing sector shows low risk levels, while Real Estate, Accommodation and F&B sectors continue to face elevated risks. 

• The construction sector offers significant credit expansion potential, with over 50% of firms unbanked yet falling in mid-to-low risk groups, concentrated in major cities and key economic regions. 

This report serves as a critical reference tool for banks, financial institutions, investors and policymakers, enabling them to identify untapped credit opportunities and support more effective lending strategies. 

📥 Download the full report HERE

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Developed on FiinGate – FiinGroup’s enterprise analytics platform – and powered by FiinScore+, the report offers: 

• Coverage of over 2 million Vietnamese enterprises and businesses across 190+ countries. 

• Advanced AI-driven analytics combined with robust data processing capabilities and expert insights. 

• Comprehensive financial analysis to support due diligence, partner verification, and stakeholder reviews. 

• Independent credit health assessment to enhance risk management and operational efficiency. 

👉 Explore FiinGate solutions: https://fiingate.vn/