With Vietnam quickly towards a market-based economy with rising per capita income and per capita GDP – accessing the young and growing population of 95 million-plus offers huge potential for banks, insurers, asset managers and other financial firms looking to offer wealth management products and services.
While the current size of Vietnam’s wealth management market is meagre, its growth potential suggests that the opportunity could be significant for those institutions which position themselves correctly, and sooner rather than later.
Traditional transaction products for the mass-market client segment – such as credit cards, personal loans mortgages – are easier to sell and make money from, with insurance also a priority since it tends to give banks a commission of between 5% and 6%. Further, the mind-set of Vietnamese is still very short-term oriented. But the competition is growing across the market for the country’s rising wealth, everything from domestic and global banks, to asset management companies and global insurance companies.
Why invest in this report?
This report evaluates the current competition in the market between key banks, asset management companies and other important players in the market. An independent SWOT analysis is done on all major players in Vietnam’s wealth management market, in addition to analysis on the number of HNWIs in the market
Our analysts across London, New York, Singapore and Hong Kong survey the globe's top bankers to acquire detailed insights for our reports.