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Vietnam consumer finance market experienced a single-digit growth rate (9.2%) YoY in 1H2020. This is attributed to the dual challenge posed by COVID-19 pandemic and tightening regulations on cash loans disbursement prescribed at Circular 18/2019. However, Vietnam consumer finance maintained a contribution of over 20% of the country loan book.
FiinGroup’s Banking Report 2020 provide an in-depth analysis of the impact of COVID-19 on every aspect of the banking sector and individual banks, including credit growth, asset quality, earning quality, liquidity, profitability, operation efficiency, development trends and regulations in response to the pandemic.
The 2019 has been particularly eventful, with the revival of at least two inactive FinCos to the market (PTFinance, FCCOM), putting pressure on the market shares of the incumbents. Consumer Finance increased its contribution to national loan book to 20.6% in 2019, up from the 19.7% in 2018. Given the current market size, CF penetration in Vietnam is currently considered slow compared to its regional peers, signifying an attractive growth prospect.
The growth momentum of Vietnam cement industry in 2019 has slowed down significantly for both domestic and export market. Despite the slowdown in sales growth, local cement manufacturers managed to achieve an improvement in profitability with EBITDA margin from 16.3 percent in 2018 to 16.9 percent in 2019 thanks to good cost management & the increase in retail cement price.
Our M&A 2019 report provides latest key facts & figures and insights about Inbound M&A, Domestic M&A and Outbound M&A in Vietnam. We also presented sector review for Real Estate, Industrial Goods & Services, F&B, Banks, Utilities, Health Care and Education. The report further reviewed key themes for M&A in 2018 and 1H2019: M&A Valuation, SOE IPOs and Divestments, FTAs, new Competition Law and Securities Law. Finally, we offered our perspectives and outlook on M&A activities in Vietnam.
M&A in Vietnam in 2017-1H2018 hit record breaking deal values mostly thanks to inbound transactions focusing on domestic demand sectors. Vietnam proves to be an attractive M&A destination as the country has favorable economic conditions such as growing population, income, and urbanization rate. Next to positive macroeconomic settings, Vietnam is also ongoing an equitization and banks restructure processes that can open many investment opportunities.
New record high was set in Vietnam M&A 2016, however the momentum slows down in 1H2017: Despite lower deal number (308 deals in 2016 compared to 332 deals in 2015), M&A activities in Vietnam set new record high with a big jump in total deal value to US$10.16bn in 2016, increasing by almost 95% compared to the previous year
Vietnam M&A continued its upward trend. According to StoxPlus’ Vietnam M&A Research Report 2016, the market recorded 341 M&A deals closed with total value of US$5.20bn. This indicates a 23.1% increase in terms of number of deals (compared to 277 deals in 2014) and 9.7% increase in deal value (compared to US$4.74bn). Conforming to experts at StoxPlus, Vietnam M&A market 2016 would be more bouyant, especially in Industrial Goods & Services and Textitles thanks to many FTAs signed.
In the period of 2015-2019, the market size of the consumer finance, in term of outstanding loan portfolio, enjoyed average growth rate of over 30% per year. In 2020, the sector witnessed a significant slowdown with growth rate of around 10%, due to negative impacts of COVID-19.
FiinResearch is pleased to announce that its client, KB Financial Group (South Korea) has completed a Series A investment in Gpay, the intermediate payment service arm of G-Group (Vietnam). In the transaction, Gpay is valued at VND425bn (equivalent to US$18.4mn). Further details of the transaction are not disclosed.
For the first time in a decade, Vietnam consumer finance market experienced a single-digit growth rate (9.2% YoY in the first half of 2020), following aggressive credit growth over the past few year. This is attributed to the dual challenge posed by COVID-19 pandemic and tightening regulations on cash loans disbursement prescribed at Circular 18/2019. However, despite the modest growth rate, Vietnam consumer finance maintained a contribution of over 20% of the country loan book.
In this Banking Report 2020, we provide in-depth analysis of the impact of COVID-19 on every aspect of the banking sector and individual banks, including credit growth, asset quality, earning quality, liquidity, profitability, and operation efficiency. Development trends and regulations in response to the pandemic are also covered.